Cresco Labs Continues Illinois Expansion With Acquisition of Two Dispensaries

CHICAGO–(BUSINESS WIRE)– Cresco Labs (CL:CSE), one of the largest vertically integrated multi-state cannabis operators in the United States, today announced that it has signed dual definitive agreements to acquire licensed Illinois medical cannabis dispensaries MedMar Rockford and MedMar Lakeview, located in the popular Wrigleyville neighborhood of Chicago. These will be Cresco Labs’ fourth and fifth dispensary acquisitions, respectively, in Illinois. Cresco Labs will reach the maximum level of dispensaries any single company can own in the state, adding to the maximum three cultivation and processing facilities it currently operates. Cresco Labs is the only company in Illinois that has reached those limits, and it has the highest market share of any operator in the Illinois market.

“These acquisitions affirm our commitment to maintaining a strong retail presence in Illinois, which is one of the strongest and most quickly evolving cannabis markets in the United States,” said Cresco Labs CEO and Co-founder Charlie Bachtell. “The number of registered patients in Illinois has been increasing steadily, and the patient population is expected to drastically expand with the implementation of the Illinois Alternatives to Opioids Act, allowing for medical cannabis to be dispensed in place of pharmaceutical opioid medications. We will continue to emphasize compliance, control, efficiency and product performance as we position Cresco Labs for new opportunities presented in this dynamic industry.”

The owners of MedMar sought to give Illinois patients a true medical experience. Started by a group of pharmacists, a medical doctor and a former prosecutor, MedMar set out to ensure that Illinois medical cannabis patients received the best possible care in the safest possible environment. From the initial consultation to each return trip, MedMar wanted to make sure patients got superior treatment and superior service.

“We worked hard to create a facility that is welcoming and safe for our patients, follows all state regulations, and provides what I am confident to say is one of the best medical marijuana consultative experiences in the state of Illinois,” said MedMar Executive Vice President John Sullivan.

“Cresco’s focus on the patient experience, patient education, and patient results aligns well with our values and intertwines perfectly,” Sullivan added.. “We know our patients are in the best hands with Cresco.”

Under the terms of this non-material transaction, Cresco Labs will pay an undisclosed amount of stock and cash for the deal. The transaction is expected to close before year-end subject to customary closing conditions including approval from the Illinois Department of Financial and Professional Regulation (IDFPR).

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: https://www.businesswire.com/news/home/20181220005145/en/

For Media Inquiries Only:
Jason Erkes, Cresco Labs
Chief Communications Officer
press@crescolabs.com
312-953-2767

For Investor Inquires Only:
Aaron Miles, VP of Investor Relations
Kimberly Esterkin, Kristen Papke, Ashley Grossman
Financial Profiles
CLinvestors@finprofiles.com
310-622-8255

For General Cresco Labs Inquiries:
312-929-0993
info@crescolabs.com

Source: Cresco Labs

Posted In: Company News

Cresco Labs to Transform The Medical Marijuana Industry In Ohio

Granted Approval to Open the State’s First Medical Marijuana Dispensary

Wintersville, OH – December [11 ], 2018 – Cresco Labs (CSE:CL), one of the largest vertically integrated multistate cannabis operators in the United States, today announced that it has been granted the first approval to operate a marijuana dispensary in the state of Ohio. The new facility located in the village of Wintersville, named CY+ (pronounced “see why plus”), will offer a wide selection of pharmaceutical- grade cannabis for physician-certified patients across Ohio.

“Receiving the first approval to operate is a major milestone in the transformation of the cannabis program in Ohio,” said Charles Bachtell, CEO of Cresco Labs. “This is also a big step forward for Cresco along our path of unparalleled speed to market, powerful influence in industry development, and proven execution in consumer markets.”
The CY+ dispensary will offer a full selection of premium-quality medical marijuana for patients who have been physician-certified to have any one of 21 approved medical conditions. In addition to the dispensary in Wintersville, Cresco Labs has built an environmentally-advanced 50,000 square foot growing and cultivation facility in Yellow Springs, Ohio which will supply statewide dispensaries with Cresco’s full suite of branded products.

“At Cresco, we pride ourselves on understanding the individual needs of each and every one of our patients. Our Wintersville staff is trained by leading cannabis doctors and researchers across the country to ensure that our patients’ specific needs are consistently met. In Wintersville we will continue to advance our mission of normalizing and professionalizing the cannabis industry for consumers,” Bachtell added.

The Wintersville dispensary features private, one-on-one consultation areas where patients can feel comfortable discussing their conditions or symptoms and exploring the appropriate medical marijuana products. Products offered will range from edibles, vape pens and cartridges to oral sprays, pills, and transdermal patches. Video footage of the new dispensary can be downloaded and viewed here.

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.
Contacts:
Media
Cresco Labs:
Jason Erkes
Chief Communications Officer 312.953.2767 je@crescolabs.com

Posted In: Company News

Cresco Labs Acquires Assets in Massachusetts with First Cannabis Harvest Planned for Spring 2019

CHICAGO – December 6, 2018 – Cresco Labs,(CSE:CL) one of the largest vertically integrated multistate cannabis operators in the United States, today announced a definitive agreement to acquire 100% of the shares and membership interests of Hope Heal Health, Inc. (“HHH”) and an affiliated real estate entity. The HHH assets include state registration and licensing that will allow for cultivation, manufacturing, processing, and the establishment and operation of a medical marijuana dispensary, with the ability to obtain up to three medical marijuana dispensary licenses and three adult-use dispensary licenses. HHH has entered into host community agreements with the Massachusetts municipalities of Rockland, North Attleborough and Fall River for medical cannabis dispensaries, subject to site approval, and is in the process of applying for adult-use licenses from the Massachusetts Cannabis Control Commission. This transaction is not a material transaction for the company and closing is expected to occur in the first quarter of 2019, subject to receipt of applicable regulatory approvals and other customary closing conditions.

“Massachusetts adds another attractive, high value market to our national footprint,” said Charles Bachtell, CEO of Cresco Labs. “Up until now, the medical patients of Massachusetts have had limited access to relief. We look forward to utilizing our strong capital resources, proven executional abilities, and our vertically integrated and streamlined growth-manufacturing-retail model to serve these patients and develop meaningful market share as we have in Illinois and Pennsylvania.”

HHH’s 150,000 square foot cultivation facility in Fall River planted its first crop this week with an expected harvest in the first quarter of 2019. Cresco Labs has proven its execution efficiency with an unparalleled speed to market in the state of Pennsylvania, where it operates growing and processing facilities and three retail stores. Cresco hopes to achieve similar accomplishments in Massachusetts, subject to site approvals and barring any unforeseen delays.

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 with operations in seven states (Illinois, Ohio, Pennsylvania, Nevada, California, Arizona and Massachusetts), and approval pending in two more states (New York and Maryland), the company focuses on entering markets with outsized demand potential, significant supply constraints and high barriers to entry. Its unparalleled 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 well-defined brand strategy that is 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. In particular, no assurance can be given that the HHH acquisition will be completed on the terms or in the timeframe contemplated by this news release, or at all; nor as to the timing of obtaining necessary site approvals and satisfying other conditions to commercialization; nor as to the timing or yields of HHH’s first crop or future crops; nor as to potential operational or integration challenges in future as a result of increased competition or regulation or other factors. 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.

Contacts:

Media
Cresco Labs:
Jason Erkes
Chief Communications Officer
je@crescolabs.com

Investors
Cresco Labs:
Aaron Miles
Vice President, Investor Relations
310.622.8255
CLinvestors@finprofiles.com

Posted In: Company News

Cresco Labs begins trading on the Canadian Securities Exchange under ticker symbol ‘CL’

CHICAGO – December 3, 2018 – Cresco Labs Inc., one of the largest vertically integrated multistate cannabis operators in the United States, begins trading today on the Canadian Securities Exchange (“CSE”) under the ticker symbol “CL.”

“Today marks the beginning of an exciting new chapter in Cresco’s growth story,” said Charles Bachtell, CEO of Cresco Labs. “Not only do we now have access to the public equity markets to fund our expansion, but we also offer the opportunity for equity investors to own shares in a company that we believe is well positioned to generate strong growth and attractive shareholder returns in the years ahead.”

Investors, media and other interested parties are invited to visit Cresco’s new Investors website at investors.crescolabs.com to view company information and request automated email alerts for future news and public filings.

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 with operations in six states (Illinois, Ohio, Pennsylvania, Nevada, California and Arizona) and approval pending for acquisitions in three more states (New York, Massachusetts, Maryland), the company focuses on entering markets with outsized demand potential, significant supply constraints and high barriers to entry. Its unparalleled 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 well-defined brand strategy that is 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.

Posted In: Company News

Cresco Labs to Begin Trading on the CSE with Symbol CL on December 3rd

CHICAGO, Nov. 30, 2018 (GLOBE NEWSWIRE) — Cresco Labs Inc. (the “Company” or “Cresco”), formerly Randsburg International Gold Corp., is pleased to announce that its business combination with Cresco Labs, LLC (the “Business Combination”) has been completed and that its subordinate voting shares (the “Subordinate Voting Shares”) have been approved for listing on the Canadian Securities Exchange (“CSE”) under the symbol “CL.” The Subordinate Voting Shares are expected to begin trading on the CSE on Monday, December 3, 2018.

In connection with the Business Combination, on November 26, 2018, Cresco Labs Finco Ltd. completed a subscription receipt offering whereby it issued an aggregate of 12,624,054 subscription receipts (the “Subscription Receipts”) for gross proceeds of C$107.3 million (the “Offering”). The Offering was completed by a syndicate led by Canaccord Genuity Corp. and GMP Securities L.P. as co-lead agents, and including Cormark Securities Inc. and Beacon Securities Limited. On closing of the Business Combination, the investors in the Offering received one (1) Subordinate Voting Share of the Company for each Subscription Receipt held.

Our public listing represents the culmination of nearly three years of unmatched success in winning state licenses in the most competitive, highly regulated cannabis markets and firmly establishing Cresco as an early leader in this emerging industry.

Early on, by realizing that cannabis is a natural fit in the consumer-packaged goods industry, we developed a differentiated and upscale brand strategy that moves across the value chain covering all price points. At the same time, we developed a well-honed business blueprint that enables our rapid entry into new markets where we can capture leading market share right from the start.

“With our outstanding team of recognized leaders in diverse fields, with backgrounds in highly regulated and public markets, and an esteemed board of directors, our interests are closely aligned with shareholders as well as regulators, legislators and consumers.”

“Better access to the capital markets as a public company will help drive our expansion strategy,” Bachtell added. “At the same time, we intend to continue our support of consumer education, medical advisory, and public education and research that can be highly impactful on the direction of the cannabis industry.”

The Business Combination was structured as a series of transactions, including Canadian three-cornered amalgamation transactions and a series of U.S. reorganization steps, which resulted in the Company indirectly acquiring all of the voting securities of Cresco Labs, LLC.

As part of the Business Combination, the Company, among other things: (i) amended the Company’s notice of articles and articles to (a) amend the rights and restrictions of the then-existing class of common shares and redesignate such class as Subordinate Voting Shares, (b) create a class of super voting shares (the “Super Voting Shares”), and, (c) create a class of proportionate voting shares (the “Proportionate Voting Shares”); (ii) changed the Company’s name to Cresco Labs Inc.; and (iii) appointed MNP LLP as the auditors of the Company.

In connection with the closing of the Business Combination, the following individuals were appointed to the board of directors of the Company: Charles Bachtell; Joe Caltabiano; Dominic Sergi; Brian McCormack; Robert M. Sampson; John R. Walter; Gerald Corcoran; Thomas Manning; and, Randy Podolsky.

The Company is also pleased to announce the appointment of the following officers: Charles Bachtell – Chief Executive Officer; Joe Caltabiano – President; Ken Amman – Chief Financial Officer; Zach Marburger – Chief Information Officer; David Ellis – Chief Operating Officer; Jason Erkes – Chief Communications Officer; and, John Schetz – General Counsel.

The Business Combination was completed in the manner described in the Company’s listing statement (the “Listing Statement”) filed with the Canadian Securities Exchange (“CSE”) and available under the Company’s profile on www.sedar.com.

Posted In: Company News

Cresco Labs Appoints Key Executives And Accelerates Growth Ahead Of Expected Public Listing

CHICAGO – November 8, 2018 – Cresco Labs, one of the largest vertically integrated multistate cannabis operators in the United States, today announced key growth milestones achieved ahead of the company’s expected public listing on the Canadian Securities Exchange (“CSE”).

At Cresco, we are celebrating the hiring of 350 full-time employees since our launch in 2016, with 300 hired over the past year. Our workforce is comprised of terrific talent and expertise from the marketing and sales, commercial agricultural, manufacturing, healthcare and pharmaceutical, and consumer packaged goods industries.

Recent additions to the Cresco team include professionals in the areas of design and marketing, product development, manufacturing, finance, and market development. Newly hired additions include:

  • Scott Wilson, Chief Experience Officer. A former award-winning Global Creative Director for Nike, he has also been a design leader for many top consumer organizations, including IDEO, Thomson Consumer Electronics, Fortune Brands and Motorola.
  • Todd West, Senior Vice President of Product Development and Commercialization, brings to Cresco Labs more than 20 years of leadership in product innovation and manufacturing operations for the professional food service industry. West joins Cresco from Lifeway Foods, the nation’s largest producer of dairy-based kefir. Prior to Lifeway Foods, he was regional director of Starbucks in Chicago.
  • Brenna Albert, Vice President and Controller, a seasoned director of SEC reporting, technical accounting and policy, and corporate accounting and project management, was formerly with Cushman & Wakefield, with previous accounting and finance roles at global Fortune 500 companies. She has a proven track record of building world-class teams and processes for an organization making the transition from a private to a public company.
  • Aaron Miles, Vice President of Investor Relations, brings 16 years of finance and IR experience. As a senior-level investor relations professional, his work spans high profile organizations including Abbott Labs, CME Group and Tribune Publishing.
  • Sabrina Noah, VP of New Market Integration, is a fifteen-year veteran of government relations and grassroots campaigns making medical cannabis available to patients across the country. Most recently she helped draft legislation for multiple states, successfully applied and won licenses in California and Pennsylvania, and carried out the launch of operations in several markets.
  • Emily Tupy, Senior Counsel, is an attorney with multi-faceted experience in complex, highly regulated industries, bringing a proven background in risk management and emerging legal compliance. Most recently she was a compliance leader with BMO Financial Group.

“I am proud of the accomplishments every employee has made to our evolution as a company to date. I also welcome the newest members to a team energized to continue our track record of growth and further foster our deep commitment to compliance, control, efficiency and product performance in the medicinal and adult use cannabis markets,” Bachtell concluded.

Posted In: Company News

Cresco Labs Expands Edibles Production and Cannabis Cultivation Capacity in Illinois

CHICAGO – November 7, 2018 – Cresco Labs, one of the largest vertically integrated multi-state cannabis operators in the United States, today revealed one of the industry’s most sophisticated and advanced edibles kitchens and announced significantly expanded cultivation capacity in Illinois.

With our expansion in Lincoln, Cresco will have nearly 140,000 square feet of total cultivation at three Illinois facilities, triple our previous capacity. Our expansion will help meet an accelerating patient count across our state as well as prepare us for the influx of new patients following the passage of the Alternatives to Opioids Act, which vastly expands access of medical cannabis in place of pharmaceutical opioid medications.

We have also built one of the most highly sophisticated and advanced edibles kitchens in the industry for the first true culinary-backed edible option in the cannabis industry through our partnership with James Beard Award-winning pastry chef Mindy Segal. This expanded kitchen will give our edibles five times the production capacity of the original space with greatly improved efficiencies and quality controls.

The edibles kitchen at Cresco’s Joliet, Illinois facility, where Mindy’s Kitchen and Mindy’s Artisanal Edibles branded chocolates, baked goods and confections are produced, was recently expanded to nearly 2,500 square feet with approximately five times the capacity of the original space. It was redesigned to further enhance collaboration and teamwork and create work zones with temperature and environmental controls specific to product type such as baking, chocolate and taffy production. The new kitchen includes an expanded and separate clean room and compressed air drops near all equipment for automated cleaning and sanitization. The new space doubles the Joliet facility’s production capability for gummies and hard sweets and substantially improves volume production capacity for chocolate and fruit chews.

At Cresco’s cultivation facility located in Lincoln, Illinois, a two-phase expansion of 135,000 square feet is planned, with an initial 15,500-square-foot addition launching early in the first quarter of 2019 and the second phase of 120,000 square feet slated for the third quarter of 2019. In total, the cultivation expansion at Lincoln is expected to triple Cresco’s overall Illinois production over the course of the next 12 to 16 months.

“We have planned for ongoing expansion to meet increasing demand in Illinois,” Bachtell added. “The next phase of our Lincoln cultivation facility expansion will take advantage of the most advanced greenhouse climate control systems to drive heightened economies of scale and enhanced quality and quantity for our entire product suite.”

Posted In: Company News

Cresco Labs Appoints Former Nike Global Creative Director And National Design Award Recipient

CHICAGO, Nov. 5, 2018 /PRNewswire/ — Cresco Labs, one of the largest vertically integrated multi-state cannabis operators in the United States, today announced the appointment of Scott Wilson to the new role of Chief Experience Officer. As CXO, Wilson will extend Cresco Labs’ mission to professionalize and mainstream cannabis as a conventional consumer product with brands tailored to the largest consumer segments.

Scott Wilson, former Global Creative Director for Nike, has also been a design leader for many top consumer organizations including IDEO, Thomson Consumer Electronics, Fortune Brands and Motorola. His work has been recognized with countless international design awards, including the prestigious Smithsonian Cooper-Hewitt National Design Award for Product Design (2012), an honor bestowed on the top designer in the country. Scott has been featured in WIRED Magazine, ID Magazine’s Top 40, TIME Magazine’s Style+Design100 and Fast Company’s Masters of Design, where he was named one of the 50 Most Influential Designers in America. In 2007, he founded MNML, a globally-recognized product development and brand incubation firm serving clients such as Microsoft, Xbox, Logitech, Dell, Nike, Adidas and Coalesse. Over the past decade he has also founded, invested and partnered with dozens of early stage startups to accelerate and amplify their market entry including sparking the global crowdfunding movement with the first million-dollar Kickstarter in history.

Scott has been designing the ‘consumer experience’ for decades. Design can be a powerful tool for educating, guiding, inspiring and on-boarding new consumers looking for effective alternative relief through cannabis solutions that have been, up until now, unregulated and confusing.

As our CXO Scott will be a tremendous asset to Cresco, and a game-changer for the cannabis industry, where Scott’s ingenuity will offer a world-class perspective on the consumer experience for marijuana.

Wilson will be charged with inspiring, defining and overseeing the elevation of all brand touch points across the Cresco Labs portfolio as well as playing a major role in new ventures including product strategy, design, packaging, retail, digital, product forms and future brand sensory experiences and collaborations. He will continue to separately manage MNML, the design studio he founded over a decade ago. While MNML serves clients across numerous verticals, Wilson’s dual role will allow him to leverage his award-winning design and engineering teams, as well as top creative talent in his network, to accelerate Cresco’s mission to develop industry-leading, integrated product experiences for its brands and customers.

In this early stage of the legitimate cannabis industry, I feel it is critically important to employ strategic design thinking and world-class product development practices to help define, develop and execute thoughtful and meaningful experiences for those looking for alternative relief. The safe, non-toxic, pain management that medical cannabis can provide is incredibly promising and embedding design strategy at the beginning of an emerging consumer category can significantly improve outcomes for all involved.

I look forward to leveraging my background in consumer, lifestyle, and medical product design and development to influence and elevate the user journey in this industry – both for the medicinal and recreational use markets.

Posted In: Company News

CRESCO LABS EXPANDS ARIZONA FOOTPRINT WITH ACQUISITION OF CULTIVATION, PROCESSING AND DISPENSARY ASSETS

(Chicago, IL) – October 29, 2018 – Cresco Labs, one of the largest multi-state vertically integrated cannabis operators in the United States, today announced its acquisition of licenses and assets in the state of Arizona. This marks Cresco Labs’ second acquisition in Arizona, adding two cultivation facilities, one processing facility and one dispensary to a cultivation, processing and dispensary operation already owned near Phoenix.

“Arizona is a state closely aligned with our strategic focus on entering markets with great patient participation, sound regulatory structures and a need for consumer-focused and consistent, quality cannabis products,” said Cresco Labs CEO and Co-founder Charlie Bachtell. “At Cresco Labs, we have already successfully scaled the steepest learnings curves in the most highly regulated markets such as Illinois, Ohio and Pennsylvania. As a result, we are able to replicate our process to expand into other markets expeditiously and are excited to broaden our scale in the great state of Arizona.

Cresco has entered into a definitive agreement to acquire Arizona Facilities Supply, LLC (“AFS”) and certain of its subsidiaries for cash and equity consideration. AFS provides management and advisory services to Encanto Green Cross Dispensary, a non-profit entity that holds a vertical license to cultivate, process and dispense medical marijuana in the State of Arizona, operates a medical marijuana dispensary in Phoenix, Arizona, and owns real property used for cultivation in Salome, Arizona. Closing of the transaction is expected to take place in the fourth quarter of 2018 or the first quarter of 2019, subject to receipt of applicable regulatory approvals.

With an established presence in Arizona, Cresco Labs holds an ownership interest in an existing operation consisting of a vertically integrated license with cultivation, processing, and one dispensary location near Phoenix. Arizona is one of the nation’s sizeable medical cannabis programs with over 170,000 registered patients.

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CRESCO LABS EXPANDS ITS ILLINOIS FOOTPRINT WITH PROSPECTIVE ACQUISITION OF CHICAGO-AREA DISPENSARY

(Chicago, IL) – October 29, 2018 – Cresco Labs, one of the largest vertically integrated multi-state cannabis operators in the United States, today announced that it has signed a definitive agreement to acquire FloraMedex, a premier Illinois medical cannabis dispensary located in the Chicago suburb of Elmwood Park. This will be Cresco Labs’ third acquisition in Illinois with ownership interest in two other dispensaries, adding to the three cultivation and processing facilities owned in the state.

“This transaction will enhance our retail presence in Illinois, which is one of the strongest and most quickly evolving cannabis markets in the United States,” said Cresco Labs CEO and Co-founder Charlie Bachtell. “Growth in the state has been driven by an increasing number of registered patients and the recently passed Illinois Alternatives to Opioids Act which vastly expands the population of patients that can access medical cannabis in place of pharmaceutical opioid medications. Looking ahead, we will continue to emphasize compliance, control, efficiency and product performance as we position Cresco for new opportunities presented in this dynamic industry.”

FloraMedex features a loft-style environment which affords clientele ample space and comfort in an upscale urban environment and offers the highest quality medical cannabis products available in every delivery method. The dispensary has a solid and evolving patient base and is conveniently located on heavily trafficked Grand Avenue minutes away from popular retail businesses.

“Cresco’s proposed acquisition of FloraMedex will give our employees an environment to allow them to grow in a corporate structure which a stand-alone dispensary never could offer,” said Jared Boyar, Agent in Charge at FloraMedex. “When coupled with the benefits that our patient population will experience, it was a deal that made sense to all parties involved. The FloraMedex staff has been welcomed by Cresco and will continue to conduct the day-to-day operations to ensure a smooth transition for all.”

Under the terms of the transaction, Cresco Labs will pay an undisclosed amount of cash for the deal, which is expected to close during the fourth quarter of 2018 subject to customary closing conditions. Cresco Labs is seeking approval to acquire FloraMedex and the acquisition is subject to approval from the Illinois Department of Financial and Professional Regulation (IDFPR).

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Cresco Labs Prepares to Go Public in Canada

Randsburg International Gold Corp. Announces Proposed Reverse Takeover by Cresco Labs, LLC

VANCOUVER, British Columbia and CHICAGO, Oct. 10, 2018 (GLOBE NEWSWIRE) — Randsburg International Gold Corp. [NEX: RGZ.H] (“Randsburg” or the “Company”) announced that, on October 9, 2018, it entered into a binding letter agreement (the “Letter Agreement”) with leading Chicago-based cannabis company Cresco Labs, LLC (“Cresco”). The Letter Agreement outlines the proposed terms and conditions pursuant to which Randsburg and Cresco will effect a business combination that will result in a reverse takeover of Randsburg by the securityholders of Cresco (the “Proposed Transaction”). The Letter Agreement was negotiated at arm’s length.

Cresco Labs is one of the largest cannabis companies in the United States with operations in Illinois, Ohio, Pennsylvania, Nevada, California and Arizona. Cresco is compliance focused, vertically integrated from seed to sale, and dedicated to operational excellence, product development and consumer education. With a full suite of consistently-dosed brands, Cresco plans to expand its presence in both adult-use and medically-focused legal markets across the country.

The Canadian market has been very supportive of U.S.-based cannabis companies, and we look forward to having expanded access to capital that will help us accelerate our strategic growth plan. We believe Cresco Labs has a compelling investment story for institutional and retail investors looking to participate in the dynamic growth of the cannabis industry.

Terms of the Transaction

The Proposed Transaction will be structured as an amalgamation, arrangement, takeover bid, share purchase or other similar form of transaction or a series of transactions that have a similar effect, with Randsburg directly or indirectly acquiring all outstanding securities of Cresco. The final structure for the Proposed Transaction is subject to satisfactory tax, corporate and securities law advice for both Randsburg and Cresco.

Completion of the Proposed Transaction is subject to a number of conditions, which include receipt of all necessary securityholder and regulatory approvals, the execution of definitive transaction documents, and conditional approval of the listing of the common shares of the resulting issuer (the “Resulting Issuer Shares”) on the Canadian Securities Exchange (the “CSE”).

Cresco recently announced the completion of a private placement of Class F units for gross proceeds of US$100 million. Beacon Securities led the Canadian portion of the financing as sole agent and lead bookrunner.

In connection with the Proposed Transaction, the Company will be required to, among other things: (i) change its name to Cresco Labs Inc. or such other name acceptable to applicable regulatory authorities; (ii) consolidate its outstanding common shares such that the shareholders of the Company retain an aggregate of C$2.2 million in Resulting Issuer Shares; (iii) replace all directors and officers of the Company on closing of the Proposed Transaction with nominees of Cresco; and (iv) create a new class of non-participating super voting shares that would be issued to certain principals of Cresco under the Proposed Transaction. A special meeting of Randsburg shareholders to approve these and other matters relating to the Proposed Transaction has been scheduled for November 14, 2018, with further details to follow in a management information circular.

Further details of the Proposed Transaction and the business and operations of Cresco (including applicable financial statements) will be included in a listing statement to be prepared and filed with the CSE, and in subsequent news releases and other public filings. Closing of the Proposed Transaction is expected to take place in the fourth quarter of 2018. The common shares of the Company will remain halted until all necessary filings have been accepted by applicable regulatory authorities.

About Cresco Labs, LLC:

Cresco Labs, LLC, based in Chicago, is a leading U. S. cannabis company and operates in six states. The company provides a full suite of consistently dosed products including flower, edibles, vape pens/cartridges and multiple forms of extracts under the brand names of Cresco, Remedi, Reserve and Mindy’s Edibles, an infused edible line with James Beard Award-winning chef Mindy Segal. These products cater to all consumers, from the novice to the connoisseur, and from the medically-minded to the recreational user. Cresco’s mission is to educate consumers, while eliminating the stigma associated with cannabis use.

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Cresco Labs Opens Yellow Springs Cultivation Facility and Shows Off Newly Planted Crop Of Medical Marijuana

Yellow Springs, OH, October 8, 2018 — Just three weeks after being awarded their certificate of operation from the State of Ohio, Cresco Labs showcased their crop of plants today during a ribbon cutting ceremony and tour of their large-scale medical marijuana cultivation facility. The company will grow nearly 30 unique strains of marijuana which will be sold at dispensaries across the state.

We’re happy to be fully operational here in Ohio and one step closer to providing relief to patients suffering from a variety of medical conditions. We look forward to bringing awareness about this program and to helping eliminate the age-old stigma associated with marijuana – we want it to just be called medicine.

At the Yellow Springs facility, visitors saw a climate-controlled vegetation room with vertical metal racks containing clones, transplanted cubes and potted marijuana plants. As clones are placed to cubes they are tagged with a unique barcode to track their lifecycle seed to sale.

Cresco Labs grow facility is a state-of-the-art hybrid greenhouse with an energy efficient design designed to maximize the cultivation power of the sun and reduce the carbon footprint that typically results from sole indoor agriculture. Based in Chicago, Cresco Labs operates in six states making them the largest operator in Ohio.

The company will offer a full suite of pharmaceutical-grade products in Ohio that provide patients with consistent, controlled dosage. Their brands (Cresco, Remedi, Reserve and Mindy’s Edibles, an infused edible line with James Beard Award-winning chef Mindy Segal) include flower, edibles, vape pens/cartridges and multiple forms of medication delivery including oral sprays, pills, and transdermal patches. Cresco plans for these products to be available at dispensaries across Ohio in early January to patients who have been physician-certified to have any of the 22 approved medical conditions.

“The state of Ohio has done a great job keeping things moving forward with the launch of this program,” Bachtell added. “It’s not only a new program but still a relatively new industry and they are being very thorough in making sure everything is done right, which will ultimately benefit the patients.”

Participating in the ribbon cutting were Yellow Springs Mayor Pam Conine, Village President Brian Housh and Chamber of Commerce Executive Director Karen Wintrow. Ohio State Representative Rick Perales and State Senator Bob Hackett also joined Cresco Labs CEO Charlie Bachtell and President Joe Caltabiano.

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Cresco Labs Closes $100 Million Round to Continue its Strategic Acquisition and Growth Plans

Cresco Labs Closes $100 Million Round to Continue its Strategic Acquisition and Growth Plans

(Chicago, IL) – Cresco Labs announced today the closing of its oversubscribed Series D funding round securing $100 million (US), making it the second largest private funding round in U.S. cannabis history. These funds provide Cresco Labs with the capital they need as they continue to expand the footprint to produce and dispense their full brand suite of medically-focused and adult-use cannabis products.

This capital raise demonstrates our commitment to growing our national footprint and establishing dominant brand presence in key markets across the country.

Cresco was founded after winning three merit-based cultivation licenses in the Illinois market. They have since been awarded vertically-integrated licenses in Pennsylvania and Ohio, in addition to acquiring cultivation and dispensary operations in Arizona, Nevada and California earlier this year. Based in Chicago, Cresco Labs brings a quick go-to-market strategy, operational excellence and award-winning outreach campaigns normalizing the cannabis industry to every new market they launch in.

This private round yielded investors spanning the United States and multiple countries across the world that have been watching the evolution of the cannabis market. “The financial commitments we secured for this round represent both how appealing the cannabis industry has become to investors and how impressed they are with the direction Cresco is headed,” Bachtell added.

About Cresco Labs:

Recently being named to Entrepreneur Magazine’s 100 Cannabis Leaders list, Cresco Labs currently operates in six states, giving the company the largest consumer footprint of any U.S.-based cannabis company. Their brands; Cresco, Remedi, Reserve and Mindy’s Edibles, an infused edible line with James Beard Award-winning Chef Mindy Segal, provide a full suite of consistently dosed products. These products cater to all consumers, from the novice to connoisseur, from the medically-minded to the recreational user. The company has a core value of educating consumers while trying to eliminate the stigma associated with marijuana.

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Cresco Labs awarded certificate of operation in Ohio

Cresco Labs awarded certificate of operation in Ohio, moving one step closer to providing medical marijuana for approved patients in the state

(Yellow Springs, Ohio) Cresco Labs, one of the fastest-growing cannabis companies in the United States, has been awarded a certificate of operation for their large-scale cultivation facility in Ohio today, clearing the way for the planting of over 30 unique strains of cannabis plants to provide relief for physician-certified patients across the state.

Ohio’s granting of the certificate means Cresco can now begin to grow cannabis at its new 50,000-square-foot cultivation facility in Yellow Springs. Cresco began building the environmentally-sound facility last December, after going through a competitive and thorough licensing process and being awarded a level one provisional cultivation license by the Ohio Department of Commerce.

“We’ve made a great deal of progress and are one step closer to providing relief to patients throughout Ohio,” says Charles Bachtell, CEO of Cresco Labs. “We appreciate the state’s diligence throughout this process, as well as the community’s support. Cresco Labs intends to set the standard for this industry in Ohio as we bring our company’s national reputation and complete product line to market.”

Cresco Labs will offer a full suite of pharmaceutical-grade products that provide users with consistent, controlled dosage. Their brands (Cresco, Remedi, Reserve and Mindy’s Edibles, an infused edible line with James Beard Award-winning chef Mindy Segal) provide a full suite of products including flower, edibles, vape pens/cartridges and multiple forms of medication delivery including oral sprays, pills, and transdermal patches. These products will be available at dispensaries across Ohio to patients who have been certified by physicians to have any of the 21 approved medical conditions.

Cresco Labs Yellow Springs facility is a state-of-the-art hybrid greenhouse designed to maximize the cultivation power of the sun and reduce the carbon footprint that typically results from sole indoor agriculture. The facility will use geothermal heating and cooling elements and LED lighting, and 85 percent of its energy is from renewable sources.

Cresco Labs, based in Chicago, operates in six states, giving the company the largest geographic footprint of any U.S.-based cannabis company and the largest operator in Ohio. The company has a core value of educating consumers while trying to eliminate the stigma associated with marijuana.

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Cresco Labs Expands to Nevada

LAS VEGAS, Aug. 16, 2018

Nationally-acclaimed Chef Mindy Segal launched her popular cannabis-infused edible line this week in Nevada and made the first purchase herself at a Las Vegas dispensary. Nevada is the first state Segal has expanded to with legal recreational marijuana use. Her two brands, Mindy’s Artisanal Edibles and Mindy’s Kitchen were created and launched in Illinois in partnership with Cresco Labs and are now available at dispensaries across the state of Nevada.

Mindy’s Artisanal Edibles is a complete line of gourmet, cannabis-infused chocolates and baked goods that uses a clear distillate to keep the true flavor of the ingredients. The chocolates feature Segal’s signature brittle bars in a 50 mg dose and include flavorful dark chocolate almond toffee, milk chocolate peanut brittle, caramelized chocolate toasted marshmallow graham and white chocolate raspberry cream. The baked goods come in a 25 mg dose and include a tasty snickerdoodle, chocolate chip cookie and chocolate brownie. Mindy’s Kitchen is a line of fruit forward edibles infused with THC oil and includes ten flavors of gummies and four flavors each of hard sweets and fruit chews.

“I created my edible line in a medical marijuana state because I wanted to help people suffering from pain and other symptoms find relief that didn’t taste like bad medicine,” Chef Mindy Segal said. “Our products have set a new bar for taste in the industry and I couldn’t be more excited to be expanding to an adult-use state like Nevada,” she added.

Segal, owner of Hot Chocolate Restaurant in Chicago, has made a career out of taking the next step in culinary arts. Her drive to redefine flavors and create new tastes earned her acclaim at Chicago’s top restaurants, guest chef spots on network TV shows, and the prestigious James Beard Foundation Award in 2015. Now she is a driving force in the cannabis industry as the first celebrity chef to attach her name to an infused edible brand.

Cresco’s launch of Mindy’s Edibles in Nevada is just the first product they will be bringing to the state in partnership with Silver State Wellness. They will be launching their full suite of branded products (Cresco, Remedi and Reserve) including flower, edibles, vape pens/cartridges, and multiple forms of extracts catering to all cannabis consumers. They recently announced a multi-state expansion which will give them the largest consumer geographic footprint of any US cannabis company.

Posted In: Cannabis Industry

Cresco Labs To Present At Prominent Cannabis Capital Conference

CHICAGO, Aug. 15, 2018

Cresco Labs announced today that CEO Charlie Bachtell will be speaking at the Benzinga Cannabis Capital Conference being held in Toronto this week at the Arcadian. He will lead a discussion on how to execute unique cannabis business ideas in the fast-emerging industry.

“As a leader in this industry that has been on the forefront of developing name brands, expanding across the United States and raising capital, I look forward to sharing my perspective with the audience,” Charlie Bachtell said. “This is the premier gathering of entrepreneurs and investors in the cannabis industry today and I’m honored to be participating in this conference.”

Cresco Labs is one of the fastest-growing companies in the cannabis industry today, making Bachtell a highly sought-after speaker at industry insider events. Most recently, Bachtell has been tapped to speak at the University of Chicago’s Booth Entrepreneurial Roundtable and the Cannacord Annual Growth Conference in Boston, Massachusetts. He will be following up this successful series of capital events with the Benzinga Conference on the 16th of August in Toronto.

Bachtell will be participating in a panel discussion about the most potentially lucrative opportunities in cannabis that are outside the realm of the actual cannabis plant and cannabinoid production.

“Cresco Labs has a suite of branded products because we see an iconic brand with name recognition and national footprint as the upside in this business as commoditization takes place,” Bachtell said. “Coca Cola doesn’t argue when the price of sugar goes down—when cannabis becomes just an ingredient, this industry will be like that.”

Cresco Labs recently announced a multi-state expansion which will give them the largest geographic footprint of any US based cannabis company. Their brands (Cresco, Remedi, Reserve and Mindy’s Edibles, an infused edible line with James Beard Award-Winning Chef Mindy Segal) provide a full suite of products including flower, edibles, vape pens/cartridges, and multiple forms of extracts catering to all consumers, from the novice to connoisseur and medically-minded to recreational user.

Posted In: Cannabis Industry

Cresco Labs Presents At Chicago Booth Entrepreneurial Roundtable

CHICAGO, Aug. 14, 2018

Midwest-based cannabis company Cresco Labs was a featured presenter this week at the Chicago Booth Entrepreneurial Roundtable. Charlie Bachtell, CEO of Cresco Labs, lectured to student leaders, aspiring business owners, and educational subject matter experts.

As CEO one of the fastest growing cannabis companies in the United States, Bachtell provided valuable insight to the audience about the fast-paced environment and the direction the cannabis industry is headed. The company has recently received national media and investor attention with the announcement of their multi-market expansion. Their brands (Cresco, Remedi, Reserve and Mindy’s Edibles, an infused edible line with James Beard Award-Winning Chef Mindy Segal) provide a full suite of products including flower, edibles, vape pens/cartridges, and multiple forms of extracts catering to all consumers, from the novice to connoisseur and medically-minded to recreational user.

“It was an honor to speak at such a prestigious institution and I was happy to share our success in product development, financing, and working in a highly-regulated industry,” said Charlie Bachtell. “We hope to continue this partnership and provide value to future programs.”

The Booth Entrepreneurial Roundtable provides educational programs for business owners, advisors, and those considering acquiring or starting a business. Cresco Labs was invited to speak at the prestigious program due to their unparalleled achievements in the medical marijuana industry. Recent success include winning licenses through highly-competitive state application processes, new product development, and acquiring interest for expansion in to new markets.

Based on consumer footprint, Cresco Labs is currently the largest cannabis operator in the US with vertically integrated business in six states. The company has a core value of educating consumers while trying to eliminate the stigma associated with marijuana. The company is currently seeking additional investment.

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Cresco Labs Expands Into Several Western States

(Chicago, IL) Midwest-based Cresco Labs announced acquisition and expansion plans today adding three new markets, one medical and two adult-access states, to their already impressive operational presence in Illinois, Pennsylvania and Ohio. Cresco Labs will be launching vertically-integrated businesses in California, Arizona and Nevada with their product suite available in late 2018. With over 88,000,000 residents residing in these six states, this expansion makes Cresco Labs the largest cannabis operator in the US based on potential consumer footprint.

“We’re excited to be expanding at such a rapid pace – these are three of the most important cannabis markets in the US. With our success in regulated cannabis markets and the ability to consistently produce and distribute high-quality, consumer packaged cannabis products, we’re looking forward to bringing our brand of cannabis, as operators and products, to these markets,” said Cresco Labs CEO Charlie Bachtell.

Cresco Labs has partnered with one of the largest indoor commercial farming networks in California and will have immediate access to substantial cultivation space, which can be expanded as product demand dictates. The aggregate capacity of the grow facilities will ensure that Cresco Labs can provide its high-quality brands to consumers throughout the state. Cresco Labs estimates their full suite of products will be available for distribution in the fourth quarter of this year. Cresco Labs has also entered into a lease arrangement with Canna-Hub at their zoning-approved Mendota location. There, Cresco Labs will operate their processing and manufacturing facility producing their full suite of award- winning concentrates, vape pens and infused edible line. With approximately 40,000,000 residents and over 250,000,000 annual tourists, California represents arguably the largest cannabis market in the world.

Cresco Labs has acquired an ownership interest in an existing Nevada operation which holds one cultivation, one processing, and one dispensary license located in Las Vegas. The operation includes one of the most productive dispensaries located just off the strip in Las Vegas and an 18,000 square foot processing facility for the production of concentrates and edibles. The operation is currently constructing a 67,000 square foot cultivation facility. Cresco Labs full suite of branded products will be produced and sold in NV through this venture. With over 40,000,000 annual tourists visiting Las Vegas, this venture presents a terrific opportunity for Cresco Labs’ brands to be experienced by a wide range of visitors from other areas of the US and international consumers.

Cresco Labs acquired an ownership interest in an existing Arizona operation which holds a vertically integrated license with cultivation, processing, and one dispensary location near Phoenix. Cresco Labs will bring their operational expertise overseeing the cultivation and manufacturing process which will produce the full suite of Cresco Labs product line. With over 170,000 registered patients, Arizona is one of the largest medical cannabis programs in the country.

Cresco Labs is a leading innovator developing professional-grade cannabis products across the country. Their brands (Cresco, Remedi, Reserve and Mindy’s Edibles, an infused edible line with James Beard Award-Winning Chef Mindy Segal) provide a full suite of products including flower, edibles, vape pens/cartridges, and multiple forms of extracts catering to all consumers, from the novice to connoisseur and medically-minded to recreational user. They have an unmatched success in winning licenses through competitive, merit-based state application processes, winning ten licenses in the most competitive, highly-regulated markets. Cresco Labs is currently seeking additional investment to continue their aggressive expansion strategy.

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Cresco Labs Awarded Ohio Medical Cannabis Dispensary License

Midwest-based Cresco Labs achieved another big win this week with an Ohio Medical Marijuana Dispensary License, making them one of only five vertically integrated businesses in the state.

With over 375 applications submitted to earn one of the 56 coveted dispensary licenses in Ohio, Cresco Labs application in the southeast region of the state was successful making this their fourth consecutive application victory. Cresco recently won a cultivation license in Pennsylvania, dispensary licenses in Pennsylvania and a level 1 cultivation license in Ohio.

We are thrilled to be awarded a dispensary in this program and look forward to providing medical relief to patients across Ohio. We plan to be the state leader in this industry by manufacturing the highest quality product, providing caring service to the patients at our dispensary and giving back to the Ohio community.

Medical marijuana dispensaries were announced Monday by the Ohio State Board of Pharmacy. Dispensaries will sell medical marijuana plant material for vaping, and in oil, tinctures, lotions, patches, and edibles. Ohio’s law prohibits smoking marijuana or growing it at home. Patients with one of 21 qualifying medical conditions can buy and use marijuana after registering through a doctor certified to recommend medical marijuana in Ohio. Patient registrations are expected to begin in July.

Cresco is currently developing a 50,000 square foot, environmentally-sound greenhouse cultivation facility that will grow and harvest condition-specific strains of medical marijuana and produce non-invasive medical products for qualified patients. Cresco has also applied for a processing license which, through industry-leading extraction methods, will produce pharmaceutical-grade oral sprays, sublingual digestible tablets, transdermal patches and other forms of cannabis oil to provide users with a consistent, controlled dosage. Cresco’s brand name products will be available at all dispensaries across Ohio to patients that have been physician-certified with an approved medical conditions.

Cresco currently employs over 175 people with existing cultivation, manufacturing, and retail facilities located in Illinois, Pennsylvania, Nevada and Ohio.

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Cresco Labs is First Cannabis Company to Win National Award in Healthcare Advertising Competition

Heathcare Marketing Report announced today that Illinois-based Cresco Labs is the first cannabis company ever to be awarded a National Healthcare Advertising Award. Cresco was presented the Silver Award for a poster design as part of their “State of Relief” education-based campaign. The goal of the campaign was to try and normalize the cannabis industry for those seeking relief with an alternative form of medicine in Illinois.

We wanted people to see medical cannabis as just another form of medicine in Illinois, without the traditional stereotypes that come with it. Our goal was to create an eye-catching campaign appealing to a mainstream audience that didn’t scream ‘marijuana’. We created the new messaging for the regulated cannabis industry – it’s professional, it’s regulated…it’s normal.

Cresco’s “Sandwich” poster, designed by Tom, Dick & Harry Creative Company, pictured a white plate with an open-faced, Illinois-shaped peanut butter and jelly sandwich. The copy read, “Welcome to a State of Relief. Medical cannabis offers a new way for Illinois residents to seek relief from symptoms of over 35 conditions, like diminished appetite.”

The state of relief awareness campaign consisted of several pieces of creative that were used as posters, flyers, print advertisements and digital marketing elements to educate residents about Illinois medical cannabis program. In addition to the Silver Award, several other creative pieces of this campaign received merit awards in this competition.

In the 35-year history of the Healthcare Advertising Awards, the organization has never awarded a business in the medical cannabis industry. Healthcare Marketing Report had a national panel of judges who reviewed all entries based on creativity, quality, message effectiveness, consumer appeal, graphic design and overall impact. This year over 4,000 entries were received, making the awards one of the ten largest national advertising award competitions.

It’s always an honor when our work is recognized by our peers. But it’s especially satisfying to produce award-winning communications for a brand that’s doing great things – in an industry that’s doing good.

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