Mr. Ben Kovler reports

GREEN THUMB INDUSTRIES ANNOUNCES CAD$80.3 MILLION BOUGHT DEAL FINANCING; CAPITAL TO BE USED FOR NEW YORK LICENSE ACQUISITION AND BUILDOUT OF OHIO DISPENSARIES

Green Thumb Industries Inc. (GTI) has entered into an agreement with a syndicate of underwriters co-led by Canaccord Genuity Corp. and GMP Securities LP, pursuant to which the underwriters will purchase, on a bought deal basis, pursuant to the filing of a short form prospectus, an aggregate of 7.3 million subordinate voting shares of the company at a price of $11 per offered security for aggregate gross proceeds of $80.3-million.

The company has agreed to grant the underwriters an overallotment option to purchase up to an additional 1,095,000 offered securities at the offering price, exercisable in whole or in part, at any time, and from time to time, on or prior to the date that is 30 days following the closing of the offering.

The common shares will be offered by way of a short form prospectus to be filed in all provinces of Canada (except Quebec). The company intends to use the net proceeds from the offering for business development, including the acquisition of one of 10 licences in the regulated New York cannabis market and the buildout of five dispensaries in Ohio pursuant to licences awarded by the Ohio State Board of Pharmacy in June, 2018, and for working capital and general corporate purposes.

"GTI continues to execute on our strategy of 'enter, open, scale' that we've outlined to our investors," said Green Thumb Industries founder and chairman Ben Kovler. "We are excited about this equity offering and appreciate the support of our investors. GTI is well positioned to continue to execute its growth strategy and will continue to take a highly disciplined approach to capital allocation and financial management to create value for its shareholders."

The offering is expected to close on or about Aug. 2, 2018, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange and the applicable securities regulatory authorities.

Mr. Kovler to resume role of chief executive officer

Green Thumb Industries also announced today that effective Aug. 29, 2018, Pete Kadens's role as CEO will be resumed by Mr. Kovler. Mr. Kadens will remain on the board of directors and continue to provide strategic guidance to Green Thumb Industries.

"Identifying and cultivating the top talent needed to build outstanding teams that can propel organizations to their next level of success has always been one of Pete's biggest strengths," said Mr. Kovler. "Since the beginning, Pete and I have had a shared vision for GTI, and he played a key role making that vision a reality by building the outstanding team that makes GTI the world-class company it is today. Pete now plans to step back from his day-to-day responsibilities as CEO to concentrate on his true passion -- philanthropy and social justice for the communities that have been impacted by the war on drugs. We owe Pete a great deal of gratitude for his many significant contributions and are pleased that he will continue to guide GTI as a member of our board of directors."

"I have had an incredible journey at GTI, and I am very proud of our team and all that we have accomplished," said Mr. Kadens. "In just four years, we have built a publicly traded company of significant value that is poised to lead the large and rapidly growing cannabis sector in the U.S. and that, importantly, has inspired positive impact across our country. I am excited about the future for GTI, and I look forward to working with the GTI team to ensure a seamless CEO transition and in my role as a director."

About Green Thumb Industries Inc.

Green Thumb Industries, a national cannabis cultivator, processor and dispensary operator, is dedicated to providing dignified access to safe and effective cannabis nationwide while giving back to the communities in which it serves. As a vertically integrated company, Green Thumb Industries manufactures and sells a well-rounded suite of branded cannabis products, including flower, concentrates, edibles and topicals. The company also owns and operates a rapidly growing national chain of retail cannabis stores called Rise dispensaries. Headquartered in Chicago, Ill., Green Thumb Industries has seven manufacturing facilities and licences for 50 retail locations across seven highly regulated U.S. markets.

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