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CHICAGO – Cresco Laboratories (CSE: CL) (OTCQX: CRLBF) (“Cresco” or “the Company”), one of the largest vertically integrated multi-state cannabis operators in the United States, today announced that it has received approval from the Arizona Department of Health Services. to serve adult clients at its Sunnyside dispensary in Phoenix. The company is expected to start sales for adult use in mid-February. January 22sdArizona became the 12th state to begin serving adult cannabis users, after a majority of residents voted in favor of the proposal last November.
“As a company, our strategy is to invest our resources only in the most strategic markets with appropriate regulations and strong consumer demand. Over the past 10 years, Arizona has not only administered a responsible medical cannabis program, but has also garnered strong participation with over 300,000 active patients, ”said Charlie Bachtell, CEO and Co-Founder of Cresco Labs . Arizona is among 7 of our 10 states with execution rates of over $ 1 billion and is now our 5e state to legalize use by adults. With the same playbook rolled out in other states, we’ve invested in infrastructure, we’re running the culture, and we’re ramping up the wholesale distribution of our branded products. Arizona has long been an important part of Cresco Labs’ strategic geographic footprint and we are excited to bring our brand portfolio to more consumers in Sunnyside and in retail stores statewide.
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David Gacom, Regional President of the Western Region, added, “We are delighted to welcome adult clients to Sunnyside Phoenix and look forward to serving them with the same enthusiasm and expertise as our medical patients in the Arizona. With our experience in states in transition to adult sales, Cresco Labs looks forward to this historic new chapter in Arizona and we are committed to providing a seamless transition for new and existing customers.
Cresco Labs Sunnyside Dispensary is located at 2620 West Encanto Boulevard in Phoenix and is co-located with a state-of-the-art cultivation and processing facility. Cresco Labs’ wholesale strategy is also supported by another grow facility in Vicksburg, Arizona. For more information on Sunnyside and the launch of adult sales, visit Sunnyside.shop.
About Cresco Labs
Cresco Labs is one of the largest vertically integrated multi-state cannabis operators in the United States, with a mission to standardize and professionalize the cannabis industry. Employing a consumer packaged goods (“CPG”) approach, Cresco Labs is the largest wholesaler of branded cannabis products in the United States. Its brands are designed to meet the needs of all consumer segments and include some of the most recognized and trusted brands including Cresco, Remedi, High Supply, Cresco Reserve, Good News, Wonder Wellness, FloraCal Farms and Mindy’s Chef Led Artisanal Edibles created by award-winning chef James Beard, Mindy Segal. Sunnyside, the national dispensary brand of Cresco Labs, is a wellness-focused retailer created to build confidence, education and convenience for existing and new cannabis users. Recognizing that the cannabis industry is poised to become one of the country’s leading job creators, Cresco Labs manages the industry’s largest social equity and educational development initiative, SEED, which has been created to ensure that all members of society have the skills, knowledge and opportunity to work and own businesses in the cannabis industry. Learn more about Cresco Labs on CrescoLabs.com.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws and may also contain statements which may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking information and forward-looking statements are not representative of historical facts or information or the current state of affairs, but represent only the Company’s beliefs regarding future events, plans or objectives, many of which by their nature , are inherently uncertain. and outside the control of the Company. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terms such as “may”, “will”, “should”, “could”, “would”, “expect”, “Plans”, “anticipates”, “believes”, “estimates”, “projects”, “predicts”, “potential” or “continue” or the negative of these or other comparable terms. The forward-looking statements of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or underperformed. as understood by forward-looking statements, including but not limited to the risks described under the heading “Risk Factors” of the Company’s Annual Information Form dated April 28, 2020 and other documents filed by the Company with the authorities Canadian Securities; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the above list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company’s forward-looking statements. No assurance is given as to the future price or trading volumes of Cresco shares, or as to the financial performance of the Company in future financial periods. The Company does not intend to update any of these factors or publicly announce the outcome of any revision of any of the Company’s forward-looking statements contained in this document, whether at the following new information, any future event or otherwise. Unless otherwise indicated, this press release is valid 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 nor does it create an obligation or commitment to update or supplement any information provided. in this press release or otherwise.
Jason Erkes, Cresco Labs
Head of communications
Senior Analyst, Investor Relations
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