Cresco Labs Opens Fort Lauderdale Dispensary, Its Ninth Florida Location and First Under the Sunnyside Brand

Rhea-AI Summary

Cresco Labs (OTCQX: CRLBF) has opened its first Sunnyside store in Fort Lauderdale, Florida, marking its ninth retail location in the state. Positioned in a busy shopping center, the store spans nearly 2,500 sq. ft. and features five POS stations. Offerings include products from its One Plant brand and various brands under Cresco Labs, with plans to introduce edibles later this year. CEO Charlie Bachtell emphasized the company's commitment to providing high-quality products and a leading cannabis shopping experience for South Florida patients.

Positive

• Opening of ninth retail location in Florida enhances market presence.
• Store located in a high-traffic retail area, potentially driving significant foot traffic.
• Diverse product offerings from recognized brands may attract a wide customer base.

Negative

• None.

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or “the Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, today announced the opening of its first Sunnyside store in Fort Lauderdale, Florida. Located at 1830 Cordova Rd., Sunnyside Fort Lauderdale is in Cordova Shopping Center, one of city’s busiest retail environments featuring a Publix, LA Fitness, Total Wine and more. It is steps away from Port Everglades seaport, an international trade and cruise vacation hub. Today’s opening marks Cresco Labs’ ninth retail location in the state.

Cresco Labs Opens Sunnyside Dispensary in Ft. Lauderdale -- It's Ninth Retail Location in Florida. (Photo: Business Wire)

“We’re thrilled to announce today’s opening of Sunnyside Fort Lauderdale as well as the expansion of our Sunnyside retail brand into its seventh state,” said Charlie Bachtell, CEO and Co-founder at Cresco Labs. “Our retail team has demonstrated a unique ability to open and operate highly efficient retail stores that outperform respective state averages. Florida represents an incredible opportunity for our overall business, and we look forward to providing South Florida patients with products of unparalleled quality, a broad assortment of form factors and brands, a best-in-class cannabis shopping experience and next-day delivery service.”

Sunnyside Fort Lauderdale has nearly 2,500 sq. ft. of retail space and five POS stations. The store will offer products from its One Plant brand as well as new offerings from Cresco Labs’ House of Brands, including FloraCal Farms, Mindy’s, Good News, Wonder Wellness and High Supply. Products encompass premium flower of the highest-quality genetics, pre-rolled joints, vapes, concentrates, solventless items like live rosin and traditional distillate forms such as vaporizer cartridges and topicals. Edibles will arrive on shelves later this year.

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/20210816005199/en/

FAQ

What is the significance of Cresco Labs opening a Sunnyside store in Fort Lauderdale?

The opening of the Sunnyside store in Fort Lauderdale enhances Cresco Labs' market presence in Florida, marking their ninth retail location in the state, which is a significant expansion.

How does the new Sunnyside store impact Cresco Labs' operations in Florida?

The new store strengthens Cresco Labs' operations by providing access to a busy retail environment, potentially increasing sales and brand visibility in the region.

What types of products will be available at the new Sunnyside Fort Lauderdale store?

The Sunnyside store will offer products from the One Plant brand as well as other brands under Cresco Labs, including premium flower, pre-rolled joints, vapes, concentrates, and edibles.

What is the location of the new Sunnyside store in Fort Lauderdale?

The Sunnyside store is located at 1830 Cordova Rd., in the Cordova Shopping Center, a busy retail area near Port Everglades.

Who is the CEO of Cresco Labs and what did he say about the new store opening?

Charlie Bachtell, CEO and Co-founder of Cresco Labs, expressed excitement about the store's opening and highlighted the company's commitment to providing high-quality cannabis products.