May 3, 2021 at 7:53 am
Published by NCV Newswire
CHICAGO, Feb. 6 / PRNewswire / – Cresco Labs (CSE: CL) (OTCQX: CRLBF) (“Cresco Labs” or “the Company”), a vertically integrated multistate operator and the leading US wholesaler of branded cannabis products, announced announced today the expiry of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”), as amended, in relation to the impending acquisition of Cultivate Licensing LLC and BL Real Estate LLC by Cresco Labs (together ” Cultivate “) (the” Transaction “). The waiting period expired without the Cartel Department of the US Department of Justice (DOJ) making a so-called “second application”. The transaction remains subject to closing conditions, including approval by the Commonwealth of Massachusetts, which is expected to be received in the fourth quarter of 2021.
We look forward to completing the remaining steps to close the transaction and look forward to starting working with the Cultivate team later this year. Upon closing, Cresco Labs will immediately achieve a top 3 equity position in Massachusetts, the third market with over $ 1 billion in revenue where we have achieved this status.
Charles Bachtell, CEO of Cresco Labs
We will once again run our game book and demonstrate the growth and leverage that can be achieved by deepening the strategic states.
Further highlights and details on the transaction can be found in the press release and presentation on our Investor Relations website.
About Cresco Labs Inc.
Cresco Labs is one of the largest vertically integrated multi-state cannabis operators in the United States with the goal of normalizing and professionalizing the cannabis industry. Cresco Labs takes the CPG (Consumer-Packaged Goods) approach and is the largest wholesaler of branded cannabis products in the United States. Its brands are tailored to meet the needs of all consumer segments and include some of the best known and trusted national brands including Cresco, High Supply, Mindy’s Edibles, Gute Nachrichten, Remedi, Wonder Wellness Co. and FloraCal Farms. Sunnyside, the national pharmacy brand of Cresco Labs, is a wellness-focused retailer created to build trust, education and convenience for existing and new cannabis users. Recognizing that the cannabis industry is on the verge of becoming one of the top job creators in the country, Cresco Labs runs the industry’s largest social justice and educational development initiative, SEED, which was created to ensure that all members of society know about the skills, knowledge and skills have the opportunity to work in the cannabis industry and own businesses. For more information about Cresco Labs, please visit www.crescolabs.com.
Original press release
Published by NCV Newswire
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