Grassroots Sweeps Latest Round of Dispensary Wins in North Dakota
Top Illinois Cannabis Company Secures All Four Licenses Issued in the State's Third Wave
CHICAGO, April 4, 2019 /PRNewswire/ -- Grassroots Cannabis won all four dispensary licenses granted in North Dakota's latest round, continuing to prove the company's core competency of securing licenses in the competitive cannabis landscape. Grassroots—a company that grows, processes and sells cannabis through its unique, vertically integrated business model—now holds four of the state's eight dispensaries licenses, in addition to one of only two grow licenses.
"We are thrilled to continue to expand our presence in North Dakota, sharing our unparalleled expertise to further provide consumers access to safe and effective cannabis products," said Grassroots Cannabis CEO and Co-Founder Mitch Kahn. "Our recent success in North Dakota is a testament to our team's collective strategic vision and execution of building an integrated business model that enhances the communities which we serve."
The new dispensaries in North Dakota will follow the company's Herbology concept, and will begin opening in late summer/early fall 2019. Herbology offers a unique approach to the dispensary experience that includes wellness events, support groups and education seminars.
Driven by a shared belief that cannabis enhances life for people from all backgrounds, Grassroots is committed to growing from the ground up, working locally to create jobs and opportunity while serving, advancing and respecting the cannabis movement. Grassroots credits its continued growth and success securing licenses in eleven states to:
- A strong financial condition: Grassroots recently completed its first capital raise of $90,000,000 at the GR Companies Inc. (holdco) level.
- Retail and product development: Grassroots is committed to developing its portfolio to continue to address the key market sectors of medical, wellness and adult-use. The company continues to bring new products to market that are thoughtfully designed to provide targeted solutions for the medical and recreational consumer segments.
- A diverse leadership team: The executive management team is a group of highly skilled business leaders who possess the wide-ranging expertise needed to operate a successful, safe, secure and compliant medical cannabis organization.
- A proven track record: Grassroots has a demonstrated history of success in forming new ventures in the cannabis industry.
- A knowledgeable staff: Grassroots' staff of well-trained professionals have grown, processed and dispensed medical cannabis at scale and are committed to the company's success.
"Our business model and our careful and conscientious approaches to patient care and compliance resonate with the State licensing authorities," says Steve Weissmann, Chief Strategy Officer of Grassroots Cannabis. "We are proud to be a leader in this fast-growing industry, and on the forefront of innovation and regulatory approvals."
For more information on Grassroots Cannabis, visit the company's website.
About Grassroots Cannabis
GR Companies Inc. (dba Grassroots Cannabis) is a cannabis company dedicated to serving, advancing and respecting the cannabis movement. Through its unique, vertically integrated business model, Grassroots grows, processes and sells trusted cannabis products that enhance life's moments for people from all backgrounds. Its retail brand, Herbology, offers a unique, wellness and education-focused dispensary experience.
Grassroots Cannabis has built its portfolio at an unprecedented pace, with facilities in highly competitive markets, including Illinois, Nevada, Pennsylvania, Michigan, Maryland, Oklahoma, Ohio, Vermont, North Dakota, Arkansas and Connecticut. The company is pursuing acquisitions in additional markets. The executive management team is composed of a group of highly skilled business leaders united by a common belief: Cannabis inspires us to live deeply. For more information, visit grassrootscannabis.com.
SOURCE Grassroots Cannabis
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