Ben Kovler Acquires Super Voting, Multiple Voting and Subordinate Voting Shares of Green Thumb Industries Inc.

VANCOUVER, June 12, 2018 /CNW/ - On June 12, 2018, Green Thumb Industries Inc. (the "Issuer"), located at 325 W Huron St, Suite 412, Chicago, Illinois, 60654, and VCP23, LLC (the "VCP") completed its previously announced business combination (the "Business Combination"), to create a U.S. based cannabis cultivator, processor and dispensary operator.

Ben Kovler, Founder and the Chairman of the Issuer (the "Acquiror"), located at 325 W Huron St, Suite 412, Chicago, Illinois, 60654, announced today that in connection with the Business Combination, the Acquiror, together with his joint actors, acquired beneficial ownership or control or direction over 397,449 Super Voting Shares, which represent 91.7% of the Class, 671,122 Multiple Voting Shares, which represent 80.8% of the Class, and 3,329 Subordinate Voting Shares, which represent less than 0.1% of the Class. The Super Voting Shares and Multiple Voting Shares were issued at a value of $775 per share and the Subordinate Voting Shares were issued at a value of $7.75 per share.  Immediately prior to the Business Combination, the Acquiror and his joint actors owned or controlled no securities of the Issuer.

Each Super Voting Share is convertible into one Multiple Voting Share and each Multiple Voting Share is convertible into 100 Subordinate Voting Shares.  Assuming conversion of all Super Voting Shares and Multiple Voting Shares into Subordinated Shares by the Acquiror, the Acquiror and joint actors would own 106,860,429 Subordinate Voting Shares, which represents 90.5% of the outstanding Subordinate Shares on a partially diluted basis or 77.6% of the outstanding Subordinate Shares, assuming the conversion of all outstanding Super Voting Shares and Multiple Voting Shares. 

This press release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters. A copy of this report may be obtained by contacting Investor Relations, Green Thumb Industries Inc., [email protected], Phone: [phone].

SOURCE Green Thumb Industries Inc.

Investor Relations, Green Thumb Industries Inc., [email protected], Phone: [phone].