Cresco Labs Announces Opening of 45th Nationwide Dispensary in Sarasota, FL

Rhea-AI Summary

Cresco Labs (OTCQX: CRLBF) expands its presence in Florida by opening a new Sunnyside store in Sarasota, marking its 13th location in the state and 45th nationwide. The store, located at 8307 Lockwood Ridge Rd., aims to improve access to its branded cannabis products for registered patients. CEO Charlie Bachtell expressed optimism about the company's growth trajectory in Florida, indicating plans for further expansion in the coming year. The store operates Monday to Saturday, 10 a.m. to 8 p.m., and Sunday, 10 a.m. to 5 p.m.

Positive

• Opening of the 13th location in Florida potentially increases revenue streams.
• Expansion of the Sunnyside brand enhances market presence in a key state.

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• None.

CHICAGO--(BUSINESS WIRE)-- Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or “the Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, is expanding its Sunnyside brand in southwest Florida with a new store located at 8307 Lockwood Ridge Rd. in Sarasota. Sunnyside Sarasota marks Cresco Labs’ 13^th Florida location and 45^th nationwide store.

Cresco Labs’ new Sarasota dispensary marks its 45th location nationwide. (Photo: Business Wire)

“We are excited to open Sunnyside Sarasota to continue to expand access to our branded products for Florida patients,” said Charlie Bachtell, Cresco Labs’ CEO & Co-founder. “This is our fifth new dispensary since entering Florida in April, and we expect to continue to expand across the state in the New Year so more patients have access to our products, which have proven to be some of the most popular in other states.”

Sunnyside Sarasota is centrally located in the city between Interstate 75 and the Sarasota Bradenton International Airport. The store is in University Square Plaza, one of Sarasota’s busiest shopping areas. Sarasota is renowned for its cultural institutes, notably the Ringling Museum of Art. It’s also the gateway to miles of beaches, such as Lido Beach and Siesta Key Beach.

Registered patients with a medical card have the option to place orders online through the Sunnyside.shop website or utilize next-day delivery. Delivery orders can be placed in store or by phone at 877-395-1009. Patients can also visit Sunnyside Sarasota to speak with wellness advisors for purchasing assistance. Regular store hours are Monday through Saturday, 10 a.m. to 8 p.m., and Sunday, 10 a.m. to 5 p.m. For more information about Sunnyside, visit www.sunnyside.shop.

About Cresco Labs Inc.

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 national brands including Cresco, High Supply, Mindy's Edibles, Good News, Remedi, Wonder Wellness Co. and FloraCal Farms. 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 www.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 for the year ended December 31, 2020 filed on March 26, 2021, 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 Labs’ 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/20211217005060/en/

Media:

Jason Erkes, Cresco Labs

Chief Communications Officer

press@crescolabs.com

Investors:

investors@crescolabs.com

For general Cresco Labs inquiries:

312-929-0993

info@crescolabs.com

Source: Cresco Labs Inc.

FAQ

What is the significance of Cresco Labs opening a new store in Sarasota?

Cresco Labs' new store in Sarasota enhances its market presence and access to branded cannabis products in Florida.

How many locations does Cresco Labs have in Florida?

Cresco Labs now has 13 locations in Florida following the opening of the Sarasota store.

What is the stock symbol for Cresco Labs?

Cresco Labs is traded under the stock symbol CRLBF on the OTCQX.

When did Cresco Labs open the new Sunnyside Sarasota location?

The new Sunnyside Sarasota location was recently opened as part of Cresco Labs' expansion efforts in Florida.