Cresco Labs Employees Volunteer Over 5,000 Hours for Company’s 2020 “Make a Difference” Initiative

Rhea-AI Summary

Cresco Labs (CSE:CL) (OTCQX:CRLBF) reported that its employees contributed over 5,000 volunteer hours in 2020 through the 'Make a Difference' initiative. This initiative, started in June 2020, aimed to support communities amid social justice movements following incidents involving George Floyd and others. Volunteers worked across 28 cities in eight states, aiding over 50 organizations, packaging food, and addressing local needs. CEO Charlie Bachtell emphasized the company’s commitment to corporate social responsibility and community support.

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• Employees volunteered over 5,000 hours in 2020.
• Supported more than 50 local organizations.
• Engaged in diverse initiatives addressing social justice, food insecurity, and mental health.

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• None.

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or “the Company”), one of the largest vertically integrated, multistate cannabis operators in the United States, announced today its employees volunteered over 5,000 service hours during a seven-month period in 2020 as part of Cresco’s “Make a Difference” initiative.

Employees from Cresco Labs contributed over 5,000 hours of service as part of Cresco's "Make a Difference" initiative (Photo: Business Wire)

Established in June, 2020 as a public statement in response to the tragic killings of George Floyd, Breonna Taylor, Ahmaud Arbery, and many other Black Americans, the team members at Cresco Labs committed to contributing 5,000 hours of service in furtherance of bettering the communities where they live around the country. The team was intent on demonstrating their support and involvement in one of the largest social justice movements in modern history through action. Team members across all parts of the organization committed to volunteer services in 28 cities across eight states, participating in more than 75 volunteer activities that supported over 50 community-based organizations.

“As stewards of the cannabis industry and good corporate citizens of this country, we have an obligation to use our considerable platform to promote progress and support the communities where we work and live. This is fundamental to our vision of being the most important company in the industry and the responsibilities that such a vision requires,” said Charlie Bachtell, CEO and Co-Founder of Cresco Labs. “2020 tested our resilience as a nation and shaped our humanity and culture in such a profound way. Although the global pandemic brought some challenges to volunteering, our team members persevered because corporate social responsibility, volunteerism, community support, and social justice and social equity activism are all built into the fabric of who we are as a company. It is truly incredible that our team members achieved over 5,000 hours of community service in just seven months, and I’m so proud of them for their efforts.”

Tai Duncan, Cresco’s Vice President of Community Integration, added, “We are so proud to have such passionate and hard-working staff who contributed their time, expertise and funds to this initiative. They truly did make a difference, building meaningful relationships along the way. Cresco Labs is committed to continuing this effort in 2021 and beyond.”

2020 Volunteerism Highlights:

• Cresco Labs employees volunteered in 28 cities throughout California, Arizona, Illinois, Michigan, Ohio, Pennsylvania, Massachusetts and New York.
• Supported more than 50 local organizations and assisted thousands of people and hundreds of neighborhoods with their specific needs.
• Collaborated with a diverse group of institutions focused on veterans, social justice, food insecurity, COVID-19 relief, mental health, environmental conservation, homelessness and low-income families, and individuals with disabilities.
• Packaged and distributed nearly 10,000 pounds of food and produce.
• Picked up more than 100,000 pounds of trash at parks, canals, forest preserves and beaches.
• Wrote and mailed hundreds of letters to individuals incarcerated for cannabis-related offenses, elderly people and those in need of emotional support.
• Collected and purchased hundreds of clothing and personal care items for families and individuals in need.
• Donated toys, decorations and supplies to bring joy during the holiday season.

Cresco’s corporate social responsibility strategies are designed with a commitment to serving and collaborating with the communities in which it operates in ways that align with the Company’s overarching goals and core values.

About Cresco Labs

Cresco Labs is one of the largest vertically integrated, multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Employing a consumer-packaged goods (“CPG”) approach, Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. Its brands are designed to meet the needs of all consumer segments and comprised of 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 James Beard Award-winning chef Mindy Segal. Sunnyside, Cresco Labs’ national dispensary brand, is a wellness-focused retailer created to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco Labs operates the industry’s largest Social Equity and Educational Development initiative, SEED, which was established 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 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 Annual Information Form dated April 28, 2020, and other documents filed by the Company with Canadian securities regulatory authorities; 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210118005061/en/

FAQ

What is the significance of Cresco Labs' 5,000 volunteer hours in 2020?

Cresco Labs' 5,000 volunteer hours reflect its commitment to corporate social responsibility and support for social justice movements.

In how many states did Cresco Labs employees volunteer?

Cresco Labs employees volunteered in eight states.

What community efforts did Cresco Labs participate in?

Cresco Labs participated in various community efforts, including food distribution, environmental clean-ups, and support for individuals impacted by cannabis-related offenses.

What is the focus of Cresco Labs' corporate social responsibility initiatives?

Cresco Labs' corporate social responsibility initiatives focus on community support, social justice, and improving the lives of underserved populations.