Green thumb Industries (CSE: GTII) this morning formally responded to a Chicago Tribune article that was released on March 29. The article had alleged that federal investigations into the firm were currently ongoing for potential pay-to-play violations while obtaining state licenses.
The Tribune article had alleged that undisclosed sources provided data that stated the company was currently being investigated for campaign donations and “other steps” that that company took to secure cultivation and distribution licenses for cannabis in the state of Illinois among others. The firms response this morning follows a 10.8% tumble the equity took yesterday, as well as public statements made by the firms CEO on Twitter, wherein he refuted the claims.
In their statement released this morning, the company stated that it, “possesses absolutely no evidence to corroborate claims that there is an open investigation by federal authorities as alleged in an article by the Chicago Tribune under a misleading headline published on March 29, 2021.” The response then refers to the article as having unfounded allegations with no credible sources being cited, while stating that it was “irresponsible journalism” before demanding a full retraction of the article.
Green Thumb Industries last traded at $32.22 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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.