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Green Thumb Industries Inc. (GTI) Expands with the Acquisition of Integral Associates, Nevada’s Top Cannabis Operator 22 Mar, 2019

Green Thumb Industries Inc. (GTI) Expands with the Acquisition of Integral Associates, Nevada’s Top Cannabis Operator

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The Acquisition Adds Operational Capacity, Distribution, Retail Footprint, and Best-of-Class Talent, Reinforcing GTI’s “Enter, Open, Scale” Strategy

  • Three nationally-recognized dispensaries, operating under the Essence brand, including the first and only dispensary on the Las Vegas Strip
  • Two world-class cultivation and processing facilities in 95,000 square feet: Desert Grown Farms and Cannabiotix NV
  • Exceptional talent, led by Integral Associates founder and CEO Armen Yemenidjian

Chicago and Vancouver (November 13, 2018)—Green Thumb Industries (GTI) (CSE: GTII) (OTCQX: GTBIF), announced today that it has signed a definitive agreement to acquire 100% of Integral Associates. The acquisition includes:

  • Integral Associates’ retail brand Essence, which currently operates three high-traffic locations across the Las Vegas Valley
  • Desert Grown Farms, a 54,000 square foot state-of-the-art cultivation and processing facility with an award-winning genetics library of 100+ strains
  • Cannabiotix NV, a 41,000 square foot cultivation and processing facility which has been a recognized High Times Cannabis Cup award winner several times over

Management Commentary

“We are thrilled to expand GTI’s production, distribution and retail footprint in one of the most popular tourist destinations in the world,” commented Ben Kovler, GTI Founder and Chief Executive Officer. “Integral Associates are exceptional operators—they have a highly admired and respected business comprised of two world-class cultivation and processing facilities, multiple award-winning products, strong wholesale distribution, three impressive retail dispensary locations with significant retail market share and healthy EBITDA. This acquisition is immediately accretive and an important milestone as we position GTI to scale in one of the only limited license adult use markets.”

Kovler added, “We are excited to welcome Armen Yemenidjian to our senior leadership team, where he will serve as president. Armen’s wealth of experience in building and growing an outstanding company will be a tremendous asset to our organization. We are also pleased to announce that Alex Yemenidjian will be joining our Board of Directors, and we look forward to leveraging his vast and varied experience and success.”

“This partnership is ideally positioned to bring our business to the next level,” said Armen Yemenidjian. “I am extremely excited to join the GTI team and be a part of an industry leader that places a strong emphasis on brands, is a respected and award-winning employer, and is committed to community involvement. Today is a big win for Nevada communities and the customers we will continue to serve.”

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