GTI Launches $50M Share Buyback Program

CHICAGO – Green Thumb Industries announced that its board has approved a program to repurchase up to $50 million of its subordinate voting shares over the next year. The initiative, set to begin on September 23 and run through September 22, 2026, allows the company to acquire as many as 10.4 million shares through open market transactions on the Canadian Securities Exchange, OTCQX, or other platforms, in line with securities rules.

The buyback follows earlier efforts where Green Thumb spent $108 million to repurchase about 13.5 million shares since September 2023. Company officials indicated that no debt would fund the new program, with decisions on timing and volume hinging on market prices and regulatory limits. Green Thumb holds no obligation to complete the full amount and reserves the right to halt purchases if better cash uses arise.

Ben Kovler, the company’s founder, chairman and CEO, described the step as a way to build shareholder value when stock prices align favorably. “This authorization gives us the flexibility to act strategically as the right opportunities come along,” Kovler said in a statement. “We remain focused on investing in our brands and strengthening our long-term position in the continuously expanding Cannabis market.”

Shares of Green Thumb, traded under the ticker GTBIF on OTCQX, climbed 9% in response to the news, reflecting investor approval of the capital return strategy. Based in Chicago, the company operates 20 manufacturing sites and 108 RISE dispensaries across 14 states, employing roughly 4,800 people and serves millions of customers each year.

From the industry perspective, such repurchases often signal that executives see their stock as undervalued, potentially lifting earnings per share by reducing the total outstanding. In the Cannabis space, where federal policy shifts could open new avenues, this approach balances returning cash to investors with preserving resources for expansion. Green Thumb’s track record of prior buybacks suggests a pattern of disciplined financial management, which may appeal to investors and those tracking sector stability and growth prospects.