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GTI Expands Presence In Pennsylvania With 46th Store

GTI Expands Presence In Pennsylvania With 46th Store

Cannabis company Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIFannounced Monday it will cut the ribbon on its 46th store.

The newly opened "Rise" store is located at 1640 Orchard Drive in Chambersburg, Pennsylvania. The company said it will donate the proceeds from the June 8 opening to the Last Prisoner Project, a non-profit organization devoted to freeing those unjustly convicted for cannabis-related crimes.

"Rise Chambersburg is our seventh store opening this year and fifth since the crisis began," said the company's founder and CEO Ben Kovler in a statement. "We are also honored to donate our first day's profit to the Last Prisoner Project and to support their important work through our ongoing partnership."

Managing Director of Last Prisoner Project, Mary Bailey said they are grateful for Green Thumb's donation, helping "those negatively and disproportionately affected by the criminalization of cannabis."

The owner of Essence retail stores said it will provide Pennsylvania's medical cannabis cardholders with in-store pick-up service, while also offering online reservations.

Green Thumbs Footprint In Pennsylvania And Illinois

Besides Rise Chambersburg, the Chicago-headquartered company is running ten other retail locations in the state, including Cranberry, Erie, Hermitage, York, King of Prussia, Mechanicsburg, New Castle, Carlisle, Steelton, and Latrobe.

Green Thumb's Pennsylvania's footprint also includes a Danville-based production facility, which it utilizes for the production of branded cannabis products - Rythm and Dr. Solomon's. 

Pennsylvania counts over 260,000 registered patients, with 168,000 of them being active users. 

Since the state introduced the program, the cannabis industry generated $423 million in retail and $288 million in wholesale sales.

Green Thumb operates across the country, while it has been present in the Pennsylvania market for three years. 

Meanwhile, two weeks ago, the company expanded its Illinois presence by opening Rise Niles, its eight retail location in the state.


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