[PRESS RELEASE] – CHICAGO and VANCOUVER, British Columbia, Nov. 27, 2024 – Green Thumb Industries Inc., a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries, announced it received principal and cash interest payments related to a prior loan to Cansortium Inc. Green Thumb Industries Inc. received $23 million in principal and 13% interest accrued following Cansortium’s recent funding. This added to the $174 million cash balance at the end of Q3 for Green Thumb.
Ben Kovler is the founder, Chairman, and CEO of Green Thumb. He said that he wanted to congratulate Cansortium for their announcement made yesterday. “This investment is a good example of our opportunistic style to allocating capital—we want to have upside optionality combined with downside protection. In this case, getting 100 cents back on a dollar is a great result. We are looking forward to reallocating this money into unique opportunities in our circle of expertise to benefit the shareholders.”