Cresco Labs Announces Three New Sunnyside Dispensaries in Florida

Rhea-AI Summary

Cresco Labs (OTCQX: CRLBF) has expanded its Sunnyside retail brand in Florida with three new dispensaries located in Cape Coral, Tampa, and Panama City Beach. This addition increases Cresco's network to 19 stores in Florida and 53 nationwide. With nearly 750,000 qualified patients and over $2 billion in market revenue, Florida presents a significant growth opportunity. Further store openings are planned for late 2022 and early 2023, aiming to solidify Cresco's leading position in the cannabis market.

Positive

• Expansion of Sunnyside brand with three new dispensaries in Florida.
• Total of 19 dispensaries in Florida and 53 nationwide.
• Florida market has nearly 750,000 qualified patients and over $2 billion in revenue.
• Plans for additional locations in late 2022 and early 2023.

Negative

• None.

CHICAGO--(BUSINESS WIRE)-- Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or “the Company”), a vertically integrated multistate operator and the No. 1 U.S. wholesaler of branded cannabis products, today announced the expansion of its Sunnyside retail brand in Florida with three new dispensaries in Cape Coral, Tampa and Panama City Beach, Florida. These additional stores bring Cresco’s store network to 19 locations in Florida and 53 total in the U.S.

Cresco Labs has opened three new Florida stores, bringing its Sunnyside network to 19 locations in the state and 53 total nationwide. (Photo: Business Wire)

“We are thrilled to bring Cresco Labs’ portfolio of leading cannabis brands to patients in Cape Coral, Tampa and Panama City Beach,” said Charlie Bachtell, Co-Founder and CEO of Cresco Labs. “When patients have the opportunity to visit our stores and try our category leaders such as High Supply flower and vapes and Sunnyside Chews edibles, they understand why we are the No. 1 wholesaler of branded cannabis products in the U.S. per BDSA. With nearly 750,000 qualified patients, over $2 billion in market revenue (per BDSA) and adult-use still on the horizon, Florida remains an attractive growth opportunity. We have several additional locations planned for the fourth quarter of 2022 and early 2023, which, combined with Columbia Care’s retail footprint, will help us reach our goal of becoming one of the leading operators in the state.”

Sunnyside Cape Coral is the Company’s first dispensary in North Lee County. It resides near a Walmart Supercenter and Publix and is a half mile from city thoroughfare Veterans Parkway.

Sunnyside Tampa is in the heart of the city’s primary retail corridor across from Walmart and Best Buy and just five minutes to Raymond James Stadium. It also is accessibly located just off the I-275.

Sunnyside Panama City Beach will be opening in a few weeks located a few blocks from scenic Hwy 30A, which is easily accessible to locals, commuters and guests of numerous beachside resorts.

All dispensary store hours are 9am – 8pm, Monday through Saturday, and 9am – 6pm Sunday. For more information about Sunnyside, promotions and to place online orders, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220830005370/en/

Media:

Jason Erkes, Cresco Labs

Chief Communications Officer

press@crescolabs.com

Investors:

Megan Kulick, Cresco Labs

Senior Vice President, Investor Relations

investors@crescolabs.com

For general Cresco Labs inquiries:

312-929-0993

info@crescolabs.com

Source: Cresco Labs Inc.

FAQ

What is the recent news about Cresco Labs in Florida?

Cresco Labs has opened three new Sunnyside dispensaries in Cape Coral, Tampa, and Panama City Beach, expanding its network to 19 stores in Florida.

How many dispensaries does Cresco Labs have in the U.S.?

Cresco Labs now operates a total of 53 dispensaries across the U.S.

What is the significance of the Florida market for Cresco Labs?

Florida has nearly 750,000 qualified patients and over $2 billion in cannabis market revenue, presenting a robust growth opportunity for Cresco Labs.

When does Cresco Labs plan to open more stores?

Cresco Labs plans to open additional dispensaries in late 2022 and early 2023.