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Green Thumb Industries Inc. - Founder and CEO, Ben Kovler - The Market Herald Canada
Founder and CEO, Ben Kovler
Source: CNBC
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  • Green Thumb Industries (GTII) has responded to the Chicago Tribune's allegations of licensing violations
  • The company has no evidence of an open investigation by federal authorities as alleged in the paper on March 29, 2021
  • Green Thumb learned of the alleged probe from a Chicago Tribune reporter citing unnamed sources before the article was published
  • Green Thumb is demanding an immediate retraction of the article
  • Green Thumb Industries is a cannabis consumer packaged goods company headquartered in Chicago, Illinois
  • Green Thumb Industries (GTII) is up 9.28 per cent and is currently trading at C$35.21 per share

Green Thumb Industries (GTII) has responded to the Chicago Tribune's allegations of licensing violations.

The company has no evidence of an open investigation by federal authorities as alleged in the paper on March 29, 2021.

Green Thumb first learned of the alleged probe into its licensing practices from a Chicago Tribune reporter citing unnamed sources shortly before the article was published.

The company is confirming that federal authorities have made no effort to initiate contact.

Ben Kovler, Green Thumb's founder and CEO, commented,

"The Chicago Tribune has published unfounded allegations that completely contradict our corporate values. The reporter did not cite any credible sources nor evidence and published under a salacious front page headline intended to mislead.

This is not just irresponsible journalism but reckless behavior that impacts the livelihood of our employees, the close bond to the communities in which we serve and the trust of our investors.

Our company has secured licenses through competitive state-run programs and traditional M&A transactions. We have taken painstaking measures to scale compliantly as we provide access to wellbeing through cannabis and will continue to hold ourselves to the highest standards."

Green Thumb is demanding an immediate retraction of the article.

Green Thumb Industries is a cannabis consumer packaged goods company headquartered in Chicago, Illinois. The company has 13 manufacturing facilities, licenses for 97 retail locations and operations across 12 U.S. markets. 

Green Thumb Industries (GTII) is up 9.28 per cent and is currently trading at C$35.21 per share as of 12:21 pm ET.

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