Thrive Launches Canada’s First Cannabis Farmgate Retail Store, and Provides Market Expansion Update

SIMCOE, Ontario–(BUSINESS WIRE)–Thrive, an Ontario-based licensed producer of premium cannabis concentrates, dried flower, and oral strips, today announced that it has opened Canada’s first farmgate retail store located at 60 Keith Richardson Parkway in Simcoe, Ontario. The store is the first of its kind, allowing cannabis consumers to purchase the company’s Greybeard and Being products directly on-site. Thrive Cannabis opened its doors on April 23rd and successfully launched its location, serving both brand enthusiasts and locals from the community over the weekend. Thrive looks forward to welcoming customers into the store when COVID restrictions lift in the province.

“This is a great milestone for the industry, and in true Thrive spirit, it is another first for our incredible team,” said Thrive CEO Geoff Hoover. “We look at farmgate retail as an opportunity to extend the incredible work being done by our retail partners across Canada. We plan to use this platform as an educational tool for our consumers and partnered retailers to learn more about our product and our corporate ethos. This collaboration with the OCS and AGCO would not be possible without our amazing partners at The Entourage Collective, Cova Software, Dutchie, and Puff Digital.”

Provincial Update

The company has also successfully launched eight SKUs in the BC market through the British Columbia Liquor Distribution Branch (BCLDB). “We were overwhelmed by the acceptance of our brands and the kindness that retailers have shown in our journey across British Columbia. We could not be more thankful for the incredible adoption of our product in arguably Canada’s most mature cannabis market,” says Bubba Nicholson, VP, Business Development and Ethos at Thrive.

As the company continues its expansion into Western Canada, Thrive Cannabis has entered the Alberta market via the Alberta Gaming, Liquor & Cannabis Commission (AGLC). Thrive will be launching 10 SKUs in market initially, with plans to roll out the remainder of the portfolio in the near future. With the first shipment leaving before the end of April, Thrive’s products will be available for purchase in Alberta in early May. Nicholson adds, “As we take our first steps into the Alberta market we have, once again, been taken aback by the eagerness of our retail partners to see more premium extracts enter the space. With visits to over 100 stores in Alberta thus far, I couldn’t be prouder to bring our Terp Slush, Diamonds, Live Resin Vape Cartridges and Afghani Drifter Flower back to my home province of Alberta. I feel strongly that these premium offerings are sure to complement an already thriving concentrate market.”

“Thrive is offering some of the best and most innovative concentrates, flower, and ingestibles on the market,” says Colin Bambury, Head of Marketing for THC Canada, a BC-based cannabis retailer that carries Thrive’s products. “Its Live Resin Terp Slush resonates with our enthusiast customers who are looking for high-quality dabbable options at a fair price. The seven-gram Afghani Drifter Flower is impressive, and has drawn customers in to try it. Lastly, the Being Oral Strips are one of the most exciting innovations in Canadian cannabis, offering customers a higher dose than they would be allowed to purchase in a candy or chocolate. We’re very pleased with Thrive’s products and our customers are enjoying them.”

The company looks forward to working with the BCLD and AGLC to become a key part of Western Canada’s cannabis community.

About Thrive Cannabis

Thrive is a privately held, vertically integrated cannabis company specializing in premium quality, small-batch craft cannabis concentrates and flower products. Thrive currently markets its products under two brands: Being features an innovative THC and CBD sublingual Oral Strip, and Greybeard focuses on high-end live resin concentrates, vape cartridges, Top Cola flower and All-Flower pre-rolls that highlight Thrive’s unique cultivars and best-in-class cultivation, processing, and formulation capabilities. Based in Simcoe, Ontario, Thrive holds production, sales, extract, and outdoor cultivation licenses from Health Canada, and has been permitted to export for medical purposes.

To learn more about Thrive and its consumer brands, visit us at www.thrivecannabis.ca. For more information about the Greybeard brand, visit us at www.greybeardcannabis.com. For more information about the Being brand, visit us at www.beingcannabis.com. Please also visit our farmgate store at www.thrivefarmgate.com.

Contacts

Press Contact
Robyn Rabinovich

rrabinovich@thrivecannabis.ca

Investor Relations
ir@thrivecannabis.ca