Green Thumb Industries Announces Exercise of Extended Maturity Date of Senior Credit Facility


Green Thumb Industries

CHICAGO and VANCOUVER, British Columbia, July 14, 2022 (GLOBE NEWSWIRE) — Green Thumb Industries Inc. (“Green Thumb”) (CSE: GTII) (OTCQX: GTBIF), a leading national consumer packaged cannabis company and owner of RISE clinicsannounced today that it has exercised its right to extend the maturity date of its non-traded senior debt by one year, from April 30, 2024 to April 30, 2025.

The current senior secured notes (the “Notes”), which have an aggregate principal amount of approximately $250 million, bear interest at a rate of 7% per annum and are paid quarterly. The extended maturity date involved no changes to the notes or additional consideration for existing lenders.

About Green Thumb Industries:
Green Thumb Industries Inc. (“Green Thumb”), a national cannabis consumer packaged goods company and retailer, promotes wellness through the power of cannabis while giving back to the communities in which it serves. Green Thumb manufactures and distributes a portfolio of branded cannabis products including Beboe, Dogwalkers, Doctor Solomon’s, Good Green, The Incredibles and RYTHM. The company also owns and operates rapidly growing national cannabis retail stores called RISE. Based in Chicago, Illinois, Green Thumb has 17 manufacturing facilities, 77 open retail locations and operations in 15 US markets. Founded in 2014, Green Thumb employs approximately 4,000 people and serves millions of patients and customers each year. The company has been named to Crain’s Chicago Business list, Fast 50 in 2021 and 2022 and Best Workplace by MG Retailer magazine in 2018, 2019 and 2021. More information is available at

Caution Regarding Forward-Looking Information
This press release contains statements that we believe are or may be deemed to be “forward-looking statements”. All statements other than statements of historical facts included herein regarding the outlook for our industry or our prospects, plans, financial condition or business strategy may constitute forward-looking statements. In addition, forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “estimate”, “expect”, “opportunity”, “project”, “potential”, “risk”, “anticipate”, “believe”, “plan”, “expect”, “continue”, “suggest” or “could” or the negative of these terms or their variants or similar terms or phrases of similar meaning. In addition, forward-looking statements may be included in various documents filed with the Securities and Exchange Commission (the “SEC”), or oral statements made by or with the approval of one of our authorized senior officers. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These forward-looking statements are subject to certain known risks and uncertainties and unknown, as well as to hyp assumptions that could cause actual results to differ materially from those reflected in such forward-looking statements. These known and unknown risks include, but are not limited to: cannabis remains illegal under US federal law, and enforcement of cannabis laws could change; the Company may be subject to action by the US federal government; state regulation of cannabis is uncertain; the Company may be subject to increased scrutiny by Canadian regulatory authorities; the Company may face limitations on the ownership of cannabis licenses; the Company may become subject to the United States Food and Drug Administration or the United States Bureau of Alcohol, Tobacco and Firearms; cannabis businesses are subject to applicable anti-money laundering laws and regulations and have restricted access to banking and other financial services; the Company does not have access to US bankruptcy protections; the Company may have difficulty obtaining additional financing; the Company operates in a highly regulated industry and may not always be able to fully comply with applicable regulatory requirements in all jurisdictions in which it operates; the Company has limited trademark protections; the Company could encounter difficulties in the performance of its contracts; cannabis businesses are subject to unfavorable tax treatment; cannabis businesses may be subject to civil asset forfeiture; the Company is subject to proceeds of crime laws; the Company is exposed to fraudulent or illegal activities; the Company’s use of joint ventures may expose it to the risks associated with jointly held investments; the Company faces risks related to its products; the Company depends on the popularity of consumer acceptance of the Company’s portfolio of brands; the Company’s activities are subject to the risks inherent in agricultural operations; the Company faces risks related to its information technology systems and potential cyberattacks and security breaches; the Company faces inherent risk of product liability and similar claims; the Company’s products may be subject to product recalls; the Company may experience adverse publicity or consumer perception; the Company faces intense competition; the voting control of the Company is concentrated; the Company’s capital structure and voting control may be a source of unpredictability; sales of substantial quantities of the Company’s Subordinate Voting Shares by our shareholders in the public market could adversely affect the trading price of the Subordinate Voting Shares; and the Company is governed by the corporate laws of British Columbia, Canada, which in some cases have a different effect on shareholders than the laws of Delaware, United States. Further information on these and other potential factors that could affect the Company’s business and financial condition and results of operations is included in the “Risk Factors” section of the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2021, and elsewhere in the Company’s filings with the SEC, which are available on the SEC’s website or at https://investors.gtigrows .com. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which reflect the opinions of management only as of the date hereof. Except as required by law, we assume no obligation to revise or release the results of any revisions to forward-looking statements. However, you are advised to review any additional disclosures we make in our filings with the SEC. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained herein.

Source: Green Thumb Industries


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