Cresco Labs’ Dispensary Launches Newly Enacted Illinois Opioid Alternative Pilot Program

CHICAGO–(BUSINESS WIRE)–Cresco Labs (CSE: CL) (“Cresco” or “the Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced that the Company’s FloraMedex dispensary launched Illinois’ Opioid Alternative Pilot Program (OAPP) today vastly expanding the population of Illinois patients who can access medical cannabis in place of pharmaceutical opioid medications. Under this new program, patients with doctor approval can receive near-immediate access to cannabis products from an Illinois licensed dispensary. The OAPP eliminates the previously required red tape – fingerprinting and background checks – that often delay patients access to medical cannabis by up to three months. Under this act, Medical Cannabis Pilot Program (MCPP) patients with one of the 41 qualifying medical conditions designated by the state of Illinois, and a doctor recommendation can also receive a temporary medical cannabis card online and make immediate cannabis purchases without waiting for their permanent card to be processed.

“The passage of the Opioid Alternative Pilot Program is important legislation for the patients across Illinois that have been looking for an alternative form of relief, and we are very excited to make the first sale of medical cannabis under the program,” said Cresco Labs CEO and co-founder Charles Bachtell. “The program will open up access to medical cannabis across the state and eliminate the wait time and red tape previously required. Opioid addiction impacts up to two million citizens across our country, and we are proud that Cresco Labs is now able to offer Illinois patients a better treatment option and much-needed relief.”

The Alternative to Opioids Act was signed into law by then-Governor Bruce Rauner in August 2018. The Act significantly expands access to Illinois’ medical cannabis program by allowing patients to purchase medical cannabis in place of doctor prescribed opioid medications. In 2017 alone, over two million patients received nearly five million opioid prescriptions in Illinois. Now, under the pilot program, patients with one of 41 qualifying medical conditions and a doctor’s recommendation can choose cannabis over opioid treatment and receive a temporary medical cannabis card online. Cannabis purchases can then be made immediately without waiting for a permanent card to be processed.

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:
Jason Erkes, Cresco Labs
Chief Communications Officer
press@crescolabs.com

Investors:
Aaron Miles, Cresco Labs
Vice President, Investor Relations
310-622-8255

Financial Profiles
CLinvestors@finprofiles.com

For general Cresco Labs inquiries:
312-929-0993
info@crescolabs.com

Posted In: AWARENESS

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