Green Thumb Industries Sales Rise As They Begin Adult-use Cannabis Sales in Illinois

Rise Effingham has undergone renovation and expansion to accommodate distinct service areas specifically for adult-use customers and medical patients

Green Thumb Industries Inc, a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced it would begin adult-use cannabis sales at Rise Effingham (formerly The Clinic Effingham) on Saturday, February 29. This is the sixth GTI store to offer adult-use cannabis sales in Illinois.

"We are honored to begin offering adult-use cannabis sales at Rise Effingham and offer well-being through the power of cannabis to adults 21 and over," said GTI Founder and Chief Executive Officer Ben Kovler.

"Since opening as a medical cannabis retailer in Effingham in September 2016, we have served thousands of patients and look forward to getting to know our new customers."

GTI began adult-use sales at Rise Canton, Rise Mundelein, Rise Joliet and 3C Joliet on January 1, the first day it became legal in Illinois. Rise Quincy, GTI's 41st store in the nation and the second adult-use only store in Illinois, opened January 31.

"We have thoroughly enjoyed having Green Thumb's medical cannabis facility as part of Effingham, as well as working with members of their team over the last three years," said Effingham City Commissioner Larry Micenheimer.

"We look forward to continuing to work with them in their role as a great neighbor in our community."

In the first month of adult-use cannabis sales, Illinois reached nearly $40 million in sales and generated over $10 million in tax revenue. Experts estimate the Illinois market potential is $2.5 billion or more after maturation.

"Other states will look to Illinois as a model for an adult-use sales launch," Kovler says. "Many states used the Illinois model for their medical programs, and they will have the same opportunity to use it as a blueprint for legalization as it brings in jobs and tax revenue. The Illinois launch is just further evidence that this is a viable, credible, robust, multibillion-dollar industry forming right in front of our eyes."

To learn more about Green Thumb Industries visit their Company HQ here

Disclaimer: Past performance is not an indicator of future performance.


This could be one of the best investing opportunities of 2020

Legislative changes are blowing through the US, and with it, an ever-increasing number of states legalising cannabis for recreational use.

With the success seen in Illinois, which legalised for adult-use on January 1 and saw products moving off the shelf at an unprecedented rate, this company is primed to take advantage of the booming US recreational market.

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And with the sector-wide pullback of 2019, this company is now at a bargain-basement price.

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Niki Mohazeb
Niki Mohazeb

Niki is a Sydney based writer, with a passion for promoting the health benefits of medicinal cannabis. Niki also enjoys researching and writing about the future of cannabis along with the many other benefits that the plant provides, such as the diverse utilities of hemp.

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