Green Thumb Industries (CSE: GTII) is expanding its presence yet again. The US cannabis firm has entered an arrangement to acquire Leafline Industries, which will see the firm formally enter the state of Minnesota, thereby increasing its operations to a total of 15 US states.
Leafline is reportedly one of only two vertically licensed cannabis operators in the cannabis space within Minnesota, a state that is currently medical-use only. The state, whom has had the program in place since 2015, currently has only 29,000 active patients among its population of 6 million people.
The firm currently has a cultivation facility as well as five operating retail locations, located in St Paul, Willmar, St Cloud, Eagan and Hibbing. Current legislation enables Green Thumb to open up to three more retail locations within the state.
Financial details of the transaction were not provided by the company.
Green Thumb Industries last traded at $27.20 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.
