CHICAGO--(BUSINESS WIRE)--
Cresco
Labs Inc. (“Cresco Labs” or the “Company”) (CSE: CL) (OTCQX: CRLBF),
one of the largest vertically integrated multistate cannabis operators
in the United States, today announced that the Hope Heal Health, Inc.
(HHH) cultivation facility and dispensary in Fall River, Bristol County,
Massachusetts has received provisional approvals for adult-use cannabis
cultivation, manufacturing, and retail licenses. Cresco Labs entered
into a definitive merger agreement with HHH for its Massachusetts
cultivation, manufacturing, processing, and dispensary operations at the
end of 2018. An application for approval of the merger will be submitted
to the Massachusetts Cannabis Control Commission, and the change of
control of HHH is subject to such approval.
The Fall River dispensary is currently approved for medical-use cannabis
sales and offers medical-grade vape cartridges, edibles, tinctures,
topicals, concentrates, and flower. Upon completion of inspections and
other final steps in the licensing process, the Fall River dispensary
expects to begin selling cannabis products for adult-use in 60-90 days.
“The receipt of this provisional adult-use licenses for HHH’s Fall River
dispensary is another example of our strategic business approach to
partner with professional and responsible operators,” said Cresco Labs
CEO and Co-founder Charlie Bachtell. “With only 15 adult-use cannabis
dispensaries currently open in Massachusetts, we anticipate that there
will be strong demand in the Fall River dispensary given the robust
growth being seen in this market. The receipt of the adult-use licenses
is well timed with the first medical pilot harvest coming in from the
HHH cultivation facility in Fall River. The harvest will provide the
dispensary with superior quality cannabis to meet the volume of sales
that we expect going forward.”
The HHH dispensary, located at 1 West Street in Fall River, MA, is open
daily, 10:00 am to 7:00 pm. For more information call 774-377-9333.
About Cresco Labs:
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 across the United States, the company focuses on
entering highly regulated markets with outsized demand potential and
strong regulatory structures. 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 www.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 those 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, nor as to the Company’s financial performance in
future financial periods. 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 or commitment to update or supplement any information
provided in this press release or otherwise.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190415005247/en/
Media:
Jason Erkes, Cresco Labs
Chief Communications
Officer
press@crescolabs.com
Investors:
Aaron Miles, Cresco Labs
Vice President,
Investor Relations
investors@crescolabs.com
For general Cresco Labs inquiries:
312-929-0993
info@crescolabs.com
Source: Cresco Labs Inc.