Green Thumb Acquires Last Private Virginia Operator For Undisclosed Amount

Green Thumb Industires (CSE: GTII) has entered the Virginia cannabis market. The company this morning announced that it has entered into a definitive agreement to acquire Dharma Pharmaceuticals, the sole remaining private operator within the limited license state.

Holding just one of five licenses available in Virginia, Dharma was viewed as one of the last opportunities for current multi-state operators to obtain a position within the state. The company was the first operator in the state to provide medical products to patients, with the company currently owning an existing production facility and retail dispensary.

The company is also able to open up to five additional retail locations across the state under the current license held by Dharma.

Financial details of the transaction were not provided. However, adult-use legislation that was approved by the state back in February was expected to demand a hefty premium for licenses in the state of 7.5 million, with price tags of upwards of $50 million known to be demanded for licenses in the state as per one consultant.

The transaction is expected to close in the second half of 2021.

The announcement follows the news Friday that the company is in the process of raising US$217 million via senior secured notes.

Green Thumb Industries last traded at $39.06 on the CSE.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization unless otherwise mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Euro Sun: Rovina Copper-Gold Project Secures Some Major Funding

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Green Thumb Sees Half Of Board Of Directors Resign Over Personal Misconduct Policy Disagreement

It’s a bad day for those in the cannabis industry. After Constellation Brands was forced...

Thursday, October 6, 2022, 09:27:05 AM

Green Thumb Posts Q4 Revenues of $243.6 Million, Net Income

Green Thumb Industries (CSE: GTII) this morning posted its fourth quarter 2021 financial results. For...

Tuesday, March 1, 2022, 08:03:21 AM

Green Thumb CEO Ben Kovler Loses $52.5 Million Worth Of Shares As Part Of Divorce Settlement

It appears that a divorce has cost Green Thumb Industries’ (CSE: GTII) CEO Ben Kovler...

Tuesday, September 26, 2023, 10:49:49 PM

Green Thumb Sees Consensus Estimate Fall To $49.89 After Q4 Earnings

Earlier this week, Green Thumb Industries (CSE: GTII) reported its fourth quarter financial results. The...

Thursday, March 3, 2022, 04:31:00 PM

Green Thumb: Despite Earnings Beat, Analysts Lower Targets On Sector Headwinds

On August 3, Green Thumb Industries (CSE: GTII) reported its second quarter financial results. The...

Saturday, August 6, 2022, 05:18:00 PM