Cresco Labs Inc. (Cresco Labs or the Company) (CSE: CL) (OTCQX: CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, today announced that the Hope Heal Health, Inc. (HHH) cultivation facility and dispensary in Fall River, Bristol County, Massachusetts has received provisional approvals for adult-use cannabis cultivation, manufacturing, and retail licenses. Cresco Labs entered into a definitive merger agreement with HHH for its Massachusetts cultivation, manufacturing, processing, and dispensary operations at the end of 2018. An application for approval of the merger will be submitted to the Massachusetts Cannabis Control Commission, and the change of control of HHH is subject to such approval.
The Fall River dispensary is currently approved for medical-use cannabis sales and offers medical-grade vape cartridges, edibles, tinctures, topicals, concentrates, and flower. Upon completion of inspections and other final steps in the licensing process, the Fall River dispensary expects to begin selling cannabis products for adult-use in 60-90 days.
The receipt of this provisional adult-use licenses for HHHs Fall River dispensary is another example of our strategic business approach to partner with professional and responsible operators, said Cresco Labs CEO and Co-founder Charlie Bachtell. With only 15 adult-use cannabis dispensaries currently open in Massachusetts, we anticipate that there will be strong demand in the Fall River dispensary given the robust growth being seen in this market. The receipt of the adult-use licenses is well timed with the first medical pilot harvest coming in from the HHH cultivation facility in Fall River. The harvest will provide the dispensary with superior quality cannabis to meet the volume of sales that we expect going forward.
The HHH dispensary, located at 1 West Street in Fall River, MA, is open daily, 10:00 am to 7:00 pm. For more information call 774-377-9333.
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 across the United States, the company focuses on entering highly regulated markets with outsized demand potential and strong regulatory structures. Its impressive speed-to-market gives Cresco a distinct competitive advantage as it replicates its model to expand its national footprint. Crescos 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. Crescos 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 www.crescolabs.com.
Forward Looking Statements
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Jason Erkes, Cresco Labs
Aaron Miles, Cresco Labs
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