The 13-day unfair labor practice strike led by Teamsters Local 777 in May at two Rise Cannabis dispensaries in Joliet and one in Niles, Illinois, which forced parent company Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) to raise wages by 50%, has reached its conclusion.

What Happened

The first collective bargaining agreements between Rise and members of Teamsters Local 777 at three dispensaries have been ratified, according to a Tuesday press release.

"Let this be a lesson to cannabis companies all across not just Illinois, but the entire country – Teamsters don't back down," said Jim Glimco, Local 777 president. "A lot of people who went through what these men and women went through, they would've thrown in the towel. Not this group. They're young, energetic, tough, smart; they look out for one another, and they embody what being a part of this union is all about."

Why It Matters

Under contracts, employers at Rise dispensaries are now entitled to wage increases of 18% over the lifetime of the agreement, attendance bonuses, a scheduling policy based on seniority, guaranteed tips and discounts, improved safety standards and protection against unjust termination or discipline.

Reilly Drew, a Rise worker who served on the bargaining committee, is thrilled with their accomplishment.

"We started as a small …

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