Connect with us


Cresco Labs Inc (OTCMKTS:CRLBF) Receives Approval For Adult-Use Cannabis In Five Of Its Illinois Dispensaries



Cresco Labs Inc (OTCMKTS:CRLBF) in one of the biggest vertically integrated cannabis operators in the U.S. Today, the business announces that it has obtained licenses for five of its medical cannabis dispensaries situated in Illinois.

A close outlook

A short while back, the company was approved to engage in the cultivation of cannabis for adult use. This approval was for both adult-use dispensary operations and adult-use cultivation in the state. This was a major step considering it was the first business to make such a huge achievement.

Cresco Labs CEO Charlie Bachtell says that they are looking forward to generating high revenues. According to him, shareholders should be looking forward to the massive opportunity since they stand to gain a lot if matters go according to plan.

The official recognized the company’s portfolio of recognized brands and their huge share in the current medical market. He also spoke about the company’s three cultivation facilities, which measure up to about 630,000 square feet. He thinks that with all these points working for them, they will be able to rise in the dynamic business world.

He opined, “Illinois is Cresco’s home state and with the transition to a legal adult-use market in January of 2020, the state is expected to produce between $2 – 4 billion in sales at maturity (BDS Analytics), making this one of the single largest opportunities in the U.S. cannabis space today.”

Illinois and its support for the legalization of cannabis products

One of the outstanding attributes of this state is its proper planning and organization. It already has in place a model that will place it as one of the best-regulated states in the United States. Mr. Bachtell believes the company has set up a blueprint that will serve as a pathway for the other companies that will be transitioning in years to come.

Illinois hit the headlines after it became the first major state to legalize cannabis. It achieved this through some legislative processes as opposed to resorting to a referendum. The government, at the moment, had been focusing on social equity. This is one of the guiding principles of Cresco. There is a reason to believe that it is this strategy that saw the state achieve its goal.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.


Business1 week ago

NewAge Inc. (NASDAQ:NBEV) Expanding Its Operations In Europe As Lucim™ Gets Recognition As A Safe Skincare Product

Post Views: 359 NewAge Inc. (NASDAQ:NBEV) announced a record net revenue increase in Europe, record attendance at its virtual events,...

Business2 weeks ago

ILUS International Inc. (OTCMKTS:ILUS) Appoints New Marketing Director Dejana Radonjic To Help With Global Marketing

Post Views: 318 ILUS International Inc. (OTCMKTS:ILUS) seems more focused on making new acquisitions, with about two accomplished within its...

Business2 weeks ago

Conservative Broadcast Media Journalism (OTCMKTS:CBMJ) Reports Revenues Of $2.4 Million In 2020

Post Views: 389 Conservative Broadcast Media Journalism (OTCMKTS:CBMJ) posted a robust growth of 118% YoY to $2.4 million in 2020. Development...


Cannabics Pharmaceuticals (OTCMKTS:CNBX) Initiates RCC-33 Dose-Response Study, And Cresco Labs (OTCMKTS:CRLBF) Launches Wonder Wellness Gummies

Post Views: 358 Cannabics Pharmaceuticals (OTCMKTS:CNBX) has announced that it will initiate a Dose-Response in-vivo Study in mice whose data...


Curaleaf Holdings Inc. (OTCMKTS:CURLF) Rebrands And Opens New Locations In Pennsylvania And Illinois

Post Views: 397 Curaleaf Holdings Inc. (OTCMKTS:CURLF) has announced new Curaleaf branding for its recently acquired retail locations and the...

Business2 weeks ago

Generex Biotechnology Corp’s (OTCMKTS:GNBT) NuGenerex Immuno-Oncology Responds To FDA Regarding Its Paediatric-Focused COVID-19 Vaccine

Post Views: 368 Generex  Biotechnology Corp’s (OTCMKTS:GNBT) subsidiary NuGenerex Immuno-Oncology has announced the submission of a response to the FDA’s...