Green Thumb Industries Inc., a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries, announced it received principal and cash interest payments related to a prior loan to Cansortium Inc. Following Cansortium’s recent financing, Green Thumb received approximately $23 million of principal plus 13% accrued interest, adding to its Q3 ending cash balance of $174 million.
“I want to congratulate the Cansortium team on their announcement yesterday and wish them well with the upcoming business combination with RIV Capital,” Green Thumb founder, Chairman and CEO Ben Kovler said. “This investment is a good example of our opportunistic style to allocating capital—we want to have upside optionality combined with downside protection. The result in this case of getting paid back 100 cents on the dollar feels like a win. We look forward to reallocating these dollars into unique opportunities within our circle of competence to benefit shareholders.”
H/T: www.cannabisbusinesstimes.com
