Green Thumb Industries (CSE: GTII) yesterday announced that they have closed the acquisition of Dharma Pharmaceuticals. With the closing of the acquisition, the company becomes one of five operators to gain access to the Virginia medical cannabis market.
The acquisition sees the company gain a currently operating production facility as well as an operating dispensary. The license itself meanwhile will enable the company to open an additional five retail locations across the state of 8.5 million people.
Despite Dharma being the last private operator available for sale within the state, terms of the acquisition have not been disclosed by the company. As per one consultant, pricing for licenses within the limited license state has reached upwards of $50 million as of late however.
Following the acquisition, Green Thumb now has operations in thirteen states, where it has a total of 59 dispensary locations.
Green Thumb Industries last traded at $40.92 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.
