Cannabis Legalization
One of Four Subcommittees
Under the Restorative Justice and Safe Communities Transition Committee
CHICAGO--(BUSINESS WIRE)--
Cresco
Labs (CSE: CL) (“Cresco” or “the Company”), one of the largest
vertically integrated multistate cannabis operators in the United
States, today announced that Charles Bachtell, Co-founder and CEO of
Cresco Labs, has been appointed to the Cannabis Legalization
Subcommittee of Illinois Governor-elect JB Pritzker’s transition team.
Cannabis Legalization is one of four subcommittees under the
Governor-elect’s Restorative Justice and Safe Communities Transition
Committee. Bachtell will collaborate other civic, judicial and social
justice leaders named to the committee. Within the group, he is the only
cannabis industry operator appointed to provide input that will shape
the possibility of legal adult-use cannabis in Illinois.
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Cresco Labs CEO Charlie Bachtell is appointed to cannabis subcommittee of Governor-elect JB Prtizker's transition team (Photo: Business Wire)
The primary goals of the Cannabis Legalization Subcommittee are to
evaluate and develop implementation recommendations for the
Governor-elects platform on legalizing cannabis. As outlined during the
campaign, these priorities include safely legalizing and decriminalizing
cannabis, reviewing and commuting the sentences of people incarcerated
for cannabis offenses in Illinois, intentionally including black and
brown entrepreneurs in the planning and licensing of new cannabis
dispensaries and reinvesting in communities hit hardest by the war on
drugs and the legacy of mass incarceration.
“It is a great honor to be appointed by Governor-elect JB Pritzker to
work with an esteemed group of leaders to advance legalization of
cannabis in Illinois, a state that has been historically been one of the
most highly regulated markets in the country,” said Bachtell. “At
Cresco, we were one of the first cannabis companies to successfully win
licenses and scale our business in this highly competitive market. We
understand the Illinois market – our home state – very well and have
been active in endorsing legislation that will protect and support the
well-being of our citizens.”
Named one of the “Top 100 Cannabis Leaders of 2018” by Entrepreneur,
Bachtell co-founded Cresco Labs in 2016 with the vision of normalizing
and professionalizing the cannabis industry. Bachtell is an attorney
with deep legal expertise in regulatory compliance and is recognized as
one of the foremost authorities on regulatory affairs in some of the
nation’s most heavily regulated industries. He serves as an adjunct
professor at the Northwestern University Pritzker School of Law teaching
classes on legal and regulatory matters concerning the emerging cannabis
industry and has leadership positions in numerous cannabis trade
associations across the country.
About Cresco Labs, LLC:
Cresco Labs, based in Chicago, is a leading U.S. cannabis company with
experienced management, access to capital and a demonstrated growth
strategy. As a differentiated grower, processor and retailer of premium
cannabis operating in seven states, the company focuses on entering
highly regulated markets with outsized demand potential and high
barriers to entry. Its impressive speed-to-market gives Cresco a
distinct competitive advantage as it replicates its model to expand its
national footprint. Cresco’s proven ability to execute is complemented
by a cutting-edge brand strategy spearheaded by several of the brightest
minds in consumer marketing in the nation. Cresco’s products are
tailored to all major consumer segments: everyday cannabis, medicinally
focused, connoisseur grade, and chef inspired edibles by James Beard
Award-winning pastry chef Mindy Segal. Learn more about Cresco Labs at crescolabs.com.
Forward Looking Statements
This press release contains “forward-looking information” within the
meaning of applicable Canadian securities legislation and may also
contain statements that may constitute "forward-looking statements"
within the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. Such forward-looking
information and forward-looking statements are not representative of
historical facts or information or current condition, but instead
represent only the Company's beliefs regarding future events, plans or
objectives, many of which, by their nature, are inherently uncertain and
outside of the Company's control. Generally, such forward-looking
information or forward-looking statements can be identified by the use
of forward-looking terminology such as, ‘may,’ ‘will,’ ‘should,’
‘could,’ ‘would,’ ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’
‘estimates,’ ‘projects,’ ‘predicts,’ ‘potential’ or ‘continue’ or the
negative of those forms or other comparable terms. The Company’s
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the Company’s actual
results, performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by the
forward-looking statements, including but not limited to: the illegality
of the Company’s business at the U.S. federal level and the risk of
prosecution; the U.S. State level regulatory uncertainty; clearing of
the securities; risks to Canadian investors being barred from entering
the U.S.; restricted access to banking; the availability of additional
financing; the lack of approval by the U.S. Food and Drug
Administration; constraints on marketing products; limited trademark
protection; unfavorable tax treatment; the tax classification of the
Company in the U.S.; lack of access to U.S. bankruptcy protections;
proceeds of crime statutes; liability and enforcement; risks inherent in
the agricultural business; environmental risks and regulations; access
to third-party service providers; product liability; personal
information breaches; liability for fraudulent or illegal activity by
employees, contractors and consultants; the Company’s limited operating
history; the difficulty quantifying the target market; planned
expansion; the limited market for securities; security risks; public and
consumer perceptions; contracts may not be legally enforceable;
restricted transfer of securities; voting control; reliance on
management; risks related to the Illinois Medical Cannabis Pilot
Program; reliance on management; the risks discussed under "Risk
Factors" in the company’s CSE Listing Statement filed with SEDAR; and
other factors, many of which are beyond the control of the Company.
Readers are cautioned that the foregoing list of factors is not
exhaustive. Because of these uncertainties, you should not place undue
reliance on the Company’s forward-looking statements. No assurances are
given as to the future trading price or trading volumes of Cresco’s
shares. The Company does not intend to update any of these factors or to
publicly announce the result of any revisions to any of the Company’s
forward-looking statements contained herein, whether as a result of new
information, any future event or otherwise. Except as otherwise
indicated, this press release speaks as of the date hereof. The
distribution of this press release does not imply that there has been no
change in the affairs of the Company after the date hereof or create any
duty to update or supplement any information provided in this press
release or otherwise.
View source version on businesswire.com:
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Media
Jason Erkes, Cresco Labs
Chief Communications
Officer
press@crescolabs.com
312-953-2767
Investors
Aaron Miles, Cresco Labs
Vice President,
Investor Relations
310-622-8255
Kimberly Esterkin, Kristen Papke, Ashley Grossman
Financial Profiles
CLinvestors@finprofiles.com
Source: Cresco Labs