CHICAGO--(BUSINESS WIRE)--
Cresco
Labs Inc. (CSE: CL) (OTCQX: CRLBF), one of the largest vertically
integrated multistate cannabis operators in the United States, announced
today that its shares have been approved for immediate listing on the
OTCQX® Best Market, the top tier of the three markets for the
over-the-counter trading of stocks. Cresco Labs’ stock, which started
being quoted on the OTC on March 6, 2019, will continue to trade under
the symbol “CRLBF”.
The OTCQX Best Market is for established, investor-focused U.S. and
international companies. To qualify for the OTCQX market, companies must
meet high financial standards, follow best practice corporate
governance, demonstrate compliance with U.S. securities laws, be current
in their disclosure, and have a professional third-party sponsor
introduction. The companies found on OTCQX are distinguished by the
integrity of their operations and diligence with which they convey their
qualifications.
“Being upgraded to the OTCQX Best Market represents another important
milestone for Cresco Labs and reflects our commitment to adhering to
high standards of compliance, disclosure and corporate governance,” said
Cresco Labs CEO and Co-founder Charlie Bachtell. “We believe that
listing on the OTCQX will open up our stock to a larger universe of
potential investors. With increased liquidity and better exposure to
U.S. investors, we believe the move to the OTCQX will be beneficial to
both new and existing shareholders.”
U.S. investors can find current financial disclosure and Real-Time Level
2 quotes for Cresco Labs on www.otcmarkets.com.
Cresco Labs will also continue to trade on the Canadian Securities
Exchange (“CSE”) under the ticker symbol "CL".
Investors, media and other interested parties are invited to visit
Cresco’s Investors website at investors.crescolabs.com
to view company information and request automated email alerts for
future news and public filings.
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 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 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/20190312005089/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