Green Thumb Enters Cannabis Infused Beverage Space Via Partnership

Green Thumb Industries (CSE: GTII) is taking a run at the cannabis infused beverage category. The company this morning announced that it has entered into an exclusive partnership with Cann, the leading cannabis beverage brand in California.

The arrangement will see the manufacture and distribution of Cann’s cannabis infused beverage product lines by Green Thumb beginning in the state of Illinois this spring. The arrangement is then to expand to additional markets nationally, including the recently opened market of New Jersey.

Cann currently sells three varieties of cannabis infused beverages, which are sold in 6 packs of 8 ounce cans. The beverages are made of all natural juice, herbs, and microdoses of CBD and THC that are meant to be akin to a glass of wine or a light beer in terms of strength of the drink.

The move into cannabis beverages reportedly follows strong growth in the cannabis subsector, with beverages growing four times faster in the state of California than total cannabis market sales over the course of 2020.

Financial aspects of the transaction were not disclosed.

Green Thumb Industries last traded at $44.74 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

Tudor Gold x American Creek: Consolidating A Massive Gold Project

Aura Minerals: The Era Dorada Underground PEA

Gold Is Now Smart Money’s End Game | Doug Casey

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

US Cannabis: Illustrating The Performance Of The Top Four Issuers

The upcoming US election has renewed interest in CSE-listed American cannabis operators, many of which...

Monday, October 26, 2020, 12:30:00 PM

Green Thumb Industries Former CEO Continues To Unload Position

It appears that insider sales are becoming somewhat of a trend as of late. Following...

Sunday, August 30, 2020, 09:00:00 AM

Green Thumb Sees Six Analysts Up Price Targets Following Q2 Earnings

Green Thumb Industries (CSE: GTII) reported their second-quarter results last week, with the company generating...

Monday, August 17, 2020, 10:35:48 AM

Green Thumb To Raise US$217 Million Via Senior Secured Notes

Green Thumb Industries (CSE: GTII) has secured additional financing. The company this morning announced that...

Friday, April 30, 2021, 08:12:32 AM

Stifel Releases Third Quarter Earning Preview For US Multi State Operators

Last week Stifel released their Q3 earnings preview for all the MSO’s while stating that...

Sunday, November 1, 2020, 01:43:00 PM