COLUMBUS, Ohio – Green Thumb Industries, a cannabis company publicly traded on the Canadian Securities Exchange, received an Ohio medical marijuana cultivation license, after a successful appeal to an earlier state denial, the company announced Friday.
Green Thumb Industries, known as GTI, is already licensed to operate dispensaries under Ohio’s medical marijuana program in Cleveland, Lorain and Toledo under the store name Rise. Two additional Rise stores in Lakewood are on track to open later this year, the company said.
The cultivation facility will be in Toledo. It will grow flower for the Ohio dispensaries. Also in Toledo, the company is building a processing operation to extract medical marijuana’s active ingredient – THC or tetrahydrocannabinol – for topicals, edibles and other products that will also be sold in its Ohio stores.
“This win allows GTI to expand our brand portfolio in Ohio to include the cultivation of our award-winning genetics and supports the company’s strategic goal of distributing brands at scale,” said Ben Kovler, the company’s CEO, in a statement.
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Toledo Mayor Wade Kapszukiewicz said in the statement the grow operation it will create new jobs for the area.
“This is another win for our city and the state of Ohio.”