Pasadena License Awarded on Same Day as GTI – Integral Associates Acquisition Close
CHICAGO and VANCOUVER, British Columbia, June 06, 2019 (GLOBE NEWSWIRE) — Green Thumb Industries Inc. (GTI) (CSE:GTII) (GTBIF) today announced that Integral Associates was awarded a retail dispensary and delivery license by the City of Pasadena, making it one of only six new license awardees in Pasadena. Integral Associates placed first out of 122 retail applications. The Pasadena license was awarded the same day that GTI closed on its acquisition of Integral Associates, which includes the Essence retail stores as well as the award-winning Cannabiotix and Desert Grown Farms cultivation facilities in Nevada.
“We’re honored to be awarded a retail license in Pasadena and look forward to becoming an active and involved member of the local community,” said GTI President Armen Yemenidjian who founded Integral Associates. “Our focus has always been on providing exceptional customer service and we’re excited to bring the Essence experience to new guests in Pasadena.”
“We would like to recognize and congratulate the six top-scoring applicants who completed a very comprehensive process,” said Pasadena City Manager Steve Mermell. “I was pleased with the high-level of sophistication, experience and expertise demonstrated by the top-scoring applicants and look forward to a positive relationship between future permitted dispensaries and our community.”
The Pasadena license will allow the company to continue expanding business operations in Southern California, where it was recently awarded a retail location and full-service consumption lounge in West Hollywood. It also continues a significant period of rapid growth with eight new retail licenses awarded in December for Nevada – five in the Las Vegas area and three in Northern Nevada. The company now has 23 stores open across the country and a retail footprint for a total of 89.
“The first-place win in Pasadena reinforces the shareholder value that