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Cresco Labs (CSE:CL) New Listing

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The company is active in every element of the seed-to-sales process – starting with state-of-the-art cultivation facilities. The in-house lab team ensures product purity and quality before moving products through production, packaging, and shipment.

Additional Information:

Company: Cresco Labs
Website: http://www.crescolabs.com
Stock Symbol: CSE: CL
Date Published: Dec 4, 2018
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Cresco Labs is the latest new listing on the Canadian Securities Exchange, trading under the symbol “CL”, having previously traded on the TSX Venture Exchange as Randsburg International Gold Corporation.

Based in Chicago, Cresco Labs is one of the fastest-growing companies in cannabis.

The company is active in every element of the seed-to-sales process – starting with state-of-the-art cultivation facilities.

The in-house lab team ensures product purity and quality before moving products through production, packaging, and shipment.

The company distributes its products to dispensaries nationwide, including several dispensaries owned and operated by the company.

With operations in six states; Illinois, Ohio, Pennsylvania, Nevada, California and Arizona and approval pending for acquisitions in New York, Massachusetts, Maryland, the company focuses on entering markets with outsized demand potential, significant supply constraints and high barriers to entry.

Its unparalleled speed-to-market — seven months from license to market — gives Cresco a distinct competitive advantage as it replicates its model to expand its national footprint.

The company has a well-defined brand strategy that is tailored to all major consumer segments: everyday cannabis, medicinally focused, connoisseur grade, and chef inspired edibles by James Beard Award-winning pastry chef Mindy Segal.

Charles Bachtell, CEO, stated: “Our public listing represents the culmination of nearly three years of unmatched success in winning state licenses in the most competitive, highly regulated cannabis markets and firmly establishing Cresco as an early leader in this emerging industry. Early on, by realizing that cannabis is a natural fit in the consumer-packaged goods industry, we developed a differentiated and upscale brand strategy that moves across the value chain covering all price points. At the same time, we developed a well-honed business blueprint that enables our rapid entry into new markets where we can capture leading market share right from the start. With our outstanding team of recognized leaders in diverse fields, with backgrounds in highly regulated and public markets, and an esteemed board of directors, our interests are closely aligned with shareholders as well as regulators, legislators and consumers. Better access to the capital markets as a public company will help drive our expansion strategy. At the same time, we intend to continue our support of consumer education, medical advisory, and public education and research that can be highly impactful on the direction of the cannabis industry.”

The company recently closed a brokered private placement raising gross proceeds of approximately $107.3 million from the placement of approximately 12.6 million shares at $8.50 per share.

Canaccord Genuity and GMP Securities acted as co-lead agents in a syndicate that included Cormark Securities and Beacon Securities.

The company has approximately $207 million on hand.

The shares are currently trading at $6.30.

For more information, please visit the company’s website at www.crescolabs.com, contact Jason Erkes, Chief Communications Officer, at je@crescolabs.com.

Investor relations is handled by Aaron Miles, VP Investor Relations, who can be reached at 310-622-8255 or by email at CLinvestors@FinProfiles.com.

I’m Megan Edwards for Investmentpitch Media