Green Thumb Industries Inc. (OTCMKTS: GTBIF) Announce 85% YoY Growth In Revenue For Q2 2021

Mufulira Tragedy: Man brutally assaults stepson with Axe Handle, died

Mufulira: A Man hammers his son for dead with an axe handle, fleas and hands himself at the Chibolya police post. A Man in Mufulira has hammered his step son, Owen Mumba grade 10 pupil, at Tang Up barracks school, leaving him unconscious with blood profusely jetting from his head.

Pregnant woman loses Husband, two sons, drowned during picnic

Mongu, Zambia, South Africa: A family of three perished yesterday while enjoying their leisure time at King Lubosi Imwiko II in Mongu. The trio died in a swimming expedition.

Africa Weather Forecast announces 02-08 October 2023 climate summary

South Africa: Africa Weather Forecast launched their climate summary in which they reported that Clear skies and rising temperatures are in store for the interior for most of the week, with the northern half of the country experiencing this condition throughout the entire week. 

Video Assistant Referee system launched in COSAFA competitions

Zambia: The Video Assistant Referee (VAR) system will be introduced in COSAFA competitions for the first time, starting with the HOLLYWOODBETS COSAFA Women’s Championship that will be played in Gauteng from October 4-15.

Green Thumb Industries Inc. (OTCMKTS: GTBIF) has announced Q2 2021 financial results for the quarter ended June 30, 2021.

Green Thumb reports revue of $221 million in Q2 2021

Revenue was up 85.4% Yoy and 14.1% QoQ to $221.9 million, while revenue for the first half of 2021 was up 87.3% to around $416.3 million. Q2 2021 was the fourth quarter running that the company has announced positive GAAP net income delivering income of $2221.1 million or $0.1 per diluted and basic share. Adjusted EBITDA was up 11.1% QoQ and almost doubled YOY to $79,3 million or approximately 35.7% of revenue.

During the quarter, the company raised $216.7 million through senior secured debt at 7%. Green Thumb used the proceeds to retire a senior secured debt of $105.5% million (at 12%), with the rest of the proceeds used for growth initiatives and general working capital. In addition, the company acquired Massachusetts-based medical cannabis company Liberty Compassion Inc. on June 1, 2021.

CEO Ben Kovler said, “The second quarter continued to be about disciplined execution and the team should be proud of the results. On a year-over-year basis, we grew revenue by 85% to $222 million; more than doubled Adjusted EBITDA to $79 million and continued to deliver positive cash flow. Since the first quarter, we closed three acquisitions, expanding our manufacturing capabilities in Massachusetts and geographic footprint into two new states, Virginia and Rhode Island.”

Green Thumb launches Good Green Thumb grant

According to Kovler, the company is dedicated to supporting the communities they serve. For example, recently, the company unveiled the Good Green grant initiative for veterans to help fight problems resulting from a failed War on Drugs.

The CEO said, “Ahead of launching the Good Green brand of products later this year, we are allocating at least $1,300,000 in social equity grants to qualified 501(c)(3) organizations over the next 18 months to jump start this important initiative.”

Mufulira Tragedy: Man brutally assaults stepson with Axe Handle, died

Mufulira: A Man hammers his son for dead with an axe handle, fleas and hands himself at the Chibolya police post. A Man in Mufulira has hammered his step son, Owen Mumba grade 10 pupil, at Tang Up barracks school, leaving him unconscious with blood profusely jetting from his head.

Pregnant woman loses Husband, two sons, drowned during picnic

Mongu, Zambia, South Africa: A family of three perished yesterday while enjoying their leisure time at King Lubosi Imwiko II in Mongu. The trio died in a swimming expedition.

Africa Weather Forecast announces 02-08 October 2023 climate summary

South Africa: Africa Weather Forecast launched their climate summary in which they reported that Clear skies and rising temperatures are in store for the interior for most of the week, with the northern half of the country experiencing this condition throughout the entire week. 

Video Assistant Referee system launched in COSAFA competitions

Zambia: The Video Assistant Referee (VAR) system will be introduced in COSAFA competitions for the first time, starting with the HOLLYWOODBETS COSAFA Women’s Championship that will be played in Gauteng from October 4-15.

Premier Dube-Ncube highlights importance of Seniors on International Day

KwaZulu-Natal Premier Nomusa Dube-Ncube has declared war on the members of the public who accuse senior citizens of witchcraft due to the onset of dementia and related mental conditions.

Zambia President Corner: time to focus on 2029 AFCON bid

Zambia: The Football Association of Zambia launches their weekly Column, and in this week's Column, they share details of the Weekly football dose.