CHICAGO-September 30, 2019-(Organization WIRE)–Cresco Labs Inc. (“Cresco Labs” or the “Company”) (CSE: CL) (OTCQX: CRLBF), a single of the biggest vertically integrated multistate cannabis operators in the United States, these days announced that its 3 cultivation facilities in the state of Illinois have been authorized for increasing adult-use cannabis by the Illinois Division of Agriculture. The 3 facilities, positioned in Joliet, Kankakee and Lincoln, can represent a total combined cultivation space at completion of 630,000 square feet per Illinois state regulations.
We are extremely pleased to get the very first adult-use cultivation approvals granted in Illinois, which speaks to our continued achievement in effectively executing on our strategic priorities.
Cresco Labs CEO and Co-founder Charlie Bachtell
The approval of our cultivation facilities is a essential milestone in our preparation for the legalization of recreational cannabis in Illinois on January 1, 2020.
He also added, “As the only operator with 3 cultivation facilities in Illinois – the maximum quantity permitted in the state – we will have the scale and capacity to properly capitalize on the dramatic raise in demand for cannabis anticipated subsequent year. We continue to have the top share of the Illinois health-related-use cannabis industry, and we think the exceptional progress we have produced this year to expand our cultivation capacity and retail dispensary network in Illinois will position Cresco Labs to be the industry leader in recreational cannabis as properly.”
About Cresco Labs:
Cresco Labs is a single of the biggest vertically-integrated multi-state cannabis operators in the United States. Cresco is constructed to grow to be the most essential firm in the cannabis market by combining the most strategic geographic footprint with a single of the top distribution platforms in North America. Employing a customer-packaged goods (“CPG”) method to cannabis, Cresco’s property of brands is made to meet the requirements of all customer segments and consists of some of the most recognized and trusted national brands like Cresco, Remedi and Mindy’s, a line of edibles developed by James Beard Award-winning chef Mindy Segal. Sunnyside*, Cresco’s national dispensary brand, is a wellness-focused retailer made to create trust, education and comfort for each current and new cannabis customers. Recognizing that the cannabis market is poised to grow to be a single of the top job creators in the nation, Cresco has launched the industry’s very first national extensive Social Equity and Educational Improvement (SEED) initiative made to make sure that all members of society have the capabilities, know-how and chance to operate in and personal enterprises in the cannabis market. Discover much more about Cresco Labs at www.crescolabs.com.
Original Press Release