fbpx
QQQ
+ 2.58
328.93
+ 0.78%
DIA
+ 2.29
343.25
+ 0.66%
SPY
+ 2.93
416.17
+ 0.7%
TLT
-0.69
140.61
-0.49%
GLD
+ 1.55
168.49
+ 0.91%

'If You Don't Like Hangovers, This Is For You:' GTI Launches Cannabis Beverage Brand Cann In Illinois

April 16, 2021 12:51 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
'If You Don't Like Hangovers, This Is For You:' GTI Launches Cannabis Beverage Brand Cann In Illinois

Green Thumb Industries Inc. (CSE:GTII) (OTCQX:GTBIF), a cannabis consumer packaged goods company, confirmed Thursday the launch of cannabis-infused beverage brand Cann in the state of Illinois.

The two companies had recently announced they were teaming up to introduce the beverage brand to cannabis consumers in Illinois and New Jersey. Other markets will follow suit.

Residents of the Prairie State can now purchase Cann beverages at all Rise dispensaries in Illinois (except Mundelein), as well as at also at Moca, MedMen, and Ascend retail stores.

Green Thumb further shared plans to present the Cann line at Rise Joliet (Colorado), Rise Lake in the Hills and Rise Niles in August.

“The cannabis beverage category is expanding as adults seek alcohol alternatives, and Cann delivers a superior experience,” Green Thumb founder and chief executive officer Ben Kovler stated. “We see Cann as a substitute to seltzers, wine and beer for new cannabis consumers looking to reduce or replace alcohol but still want the familiar social interaction of sharing a drink with friends and family. If you don’t like hangovers, this is for you.”

Cann’s social tonics contain small amounts of sugar, and a low number of calories. They are crafted with all-natural juice, organic agave nectar, herbs and microdoses of CBD and THC extracts.

Illinois Cannabis Market Booming, Consumers In The State Asked For Cann

“Since we launched in 2019, consumers in Illinois have been reaching out daily to ask when Cann would be available in their state,” Jake Bullock, co-founder of Cann, stated. “We are thrilled to finally be able to introduce our micro-dosed social tonics to the state of Illinois and to share this delicious, innovative alcohol alternative to more future Cann Fanns.”

Recreational cannabis sales in Illinois broke previous records this March, surpassing the $109 million mark. According to the most recent report, the state's cannabis taxes surpassed liquor taxes for the first time ever in the first three months of 2021. Cannabis tax revenue reached $86.54 million, while alcohol sales amounted to $72.28 million in taxes.

In addition, Green Thumb announced a new 4/20 campaign dubbed “Year of Essential” to celebrate one year of cannabis being deemed essential. The initiative includes discounts, giveaways and a live online talk with Lizzie Post, author of “Higher Etiquette: A Guide to the World of Cannabis, from Dispensaries to Dinner Parties,” on April 19.

Green Thumb's shares were trading 1.01% lower at $29.19 at the time of writing of this article.

Photo by Elsa Olofsson on Unsplash

Posted-In:

Cannabis News Markets

Related Articles

Cannabis Co. Green Thumb Industries Reaches Virginia Via Purchase Of Dharma Pharmaceuticals

Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) announced Monday it will reach the Virginia market via its acquisition of Dharma Pharmaceuticals LLC. read more

Green Thumb Industries Raises $217M, Closes Senior Non-Brokered Private Placement Of Notes

Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF), the owner of Rise dispensaries, has raised $217 million to retire its existing $105-million senior secured debt due May 2023. read more

Green Thumb Receives Incentives To Build New York Cannabis Facility At Former Federal Prison

Orange County, New York's Industrial Development Agency said Wednesday it has approved local financial incentives for cannabis company Green Thumb Industries Inc (OTCQX: GTBIF read more