Green Thumb Industries Inc. closed a C$101.7 million bought-deal offering of subordinate voting shares.

Net proceeds will go toward business development, including wholesale capacity, strategic initiatives and general corporate purposes.

The offering includes proceeds from subordinate voting shares sold as part of the underwriters' overallotment option.

GMP Securities LP acted as lead underwriter and sole bookrunner, with Beacon Securities Ltd., Cormark Securities Inc., Echelon Wealth Partners Inc. and Eight Capital as underwriters.

Chicago-based Green Thumb Industries is a cannabis cultivator, processor and dispensary operator.