CHICAGO–(BUSINESS WIRE)–Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or “the Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today the opening of its sixth Illinois dispensary located at 369 Lynch Dr. in the city of Danville. As the first cannabis retail store to open in eastern Illinois, near the Indiana border, Sunnyside Danville is ideally positioned to introduce its portfolio of owned brands to the tens of thousands of people living in the region.
“We’re excited to bring the Sunnyside retail experience and introduce our house of brands to people living in eastern Illinois. This is our sixth store in Illinois and with additional cultivation from our recent expansion coming online throughout Q3, we are set to generate significant operating leverage and demonstrate the value of going deep,” said Charlie Bachtell, Cresco Labs’ CEO and Co-founder.
Cresco completely renovated the adult-use only Danville location to showcase the Sunnyside retail concept. Designed to offer an educational and welcoming shopping experience with bright light, natural wood tones and sunny accents, the store has 4,800 square feet of space with over 10 points of sale and products divided by form and function. Sunnyside Danville’s store hours are 10:00 AM to 9:00 PM daily, seven days a week starting May 27th. During the COVID-19 pandemic, the store will operate with online orders only through Sunnyside.shop and in-store pickup. Adult-use customers can easily browse live inventory, add products to their cart and submit their orders. Customers will receive a text message when their order is ready for pickup at the store. Customers are required to wear masks and must main social distancing while shopping in store.
Cresco has six operational Sunnyside dispensaries in the state: Wrigleyville Chicago, Elmwood Park, Buffalo Grove, Rockford, Champaign and now Danville. The Company will soon open its seventh store in the River North neighborhood of Chicago. Three additional locations are planned for central business district in Chicago, South Beloit and Schaumburg.
Cresco has expanded its footprint to 215,000 square feet of total cultivation space1 across its three facilities in Joliet, Lincoln and Kankakee, with supply expected to ramp up through Q3. As a result of a focused, long-term investment in its distribution capabilities, Cresco’s wholesale distribution is one of the most robust in Illinois offering products to every dispensary in the state including its portfolio of brands: Cresco, Mindy’s Chef Led Artisanal Edibles, Remedi, Reserve and High Supply.
About Cresco Labs:
Cresco Labs is one of the largest vertically-integrated multi-state cannabis operators in the United States. Cresco is built to become the most important company in the cannabis industry by combining the most strategic geographic footprint with one of the leading distribution platforms in North America. Employing a consumer-packaged goods (“CPG”) approach to cannabis, Cresco’s house of brands is designed to meet the needs of all consumer segments and includes some of the most recognized and trusted national brands including Cresco, Remedi and Mindy’s, a line of edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside, Cresco’s national dispensary brand, is a wellness-focused retailer designed 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 has launched the industry’s first national comprehensive Social Equity and Educational Development (SEED) initiative designed to ensure that all members of society have the skills, knowledge and opportunity to work in 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 CSE Listing Statement filed with SEDAR; 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’s 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.
1 Total cultivation space represents all areas used in cultivation including vegetative, mother and flowering plant rooms