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Cresco Labs Celebrates Milestone Opening of 50th Operating Retail Store
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A new Sunnyside in Lady Lake, Floridamarks 16 total dispensaries in the state
CHICAGO--(BUSINESS WIRE)--
Cresco Labs Inc. (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, today announced the grand opening of a new Sunnyside dispensary in Lady Lake, Florida. The new store marks a milestone in Cresco’s nationwide retail expansion, bringing the Company’s total retail footprint to 50 locations across seven states and 16 total stores in the state of Florida.
Cresco Labs is celebrating the grand opening of its 50th company-owned retail store in Lady Lake, Florida. (Photo: Business Wire)
“Our 50th store in Florida marks the achievement of a key goal established in 2021 to expand company-owned retail locations in the state, aiming for 16 dispensaries open by the anniversary of the Bluma acquisition,” said Charlie Bachtell, CEO & Co-founder at Cresco Labs. “Over the past year, we’ve done a good job leveraging our extraordinarily productive Sunnyside banner to grow retail revenue, expanding the ways Cresco’s brands reach and interact with consumers. Today’s opening is an exciting moment in Cresco’s history—it’s truly incredible to see both how far this organization has come and the outstanding execution from our retail team.”
Sunnyside Lady Lake is located near The Villages, the largest active adult community in the U.S. covering more than 80 square miles and three counties—Lake, Sumter and Marion. It is home to tens of thousands of residents with a median age of 67. One out of six residents are veterans.
Sunnyside patients in central Florida and across the state have access to the highest quality assortment of cannabis products from One Plant, Supply, Good News, Remedi and Sunnyside Chews brands. Form factors include One Plant’s bestselling hand-trimmed flower and solventless Live Rosin concentrates, vape carts, disposable vape pens, pre-rolls, edibles, tinctures, RSO syringes, and topicals.
In addition to the Lady Lake opening, Cresco serves patients through its Sunnyside dispensaries in North Miami, Avon Park, Boynton Beach, Orlando (Fern Park), Jacksonville Beach, Ocala, Port St. Lucie, St. Petersburg, Bonita Springs, Fort Lauderdale, Oakland Park, Tallahassee, Pensacola, Sarasota and Clearwater.
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.
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.
