Cresco Labs (OTCMKTS:CRLBF) Publishes Its First SEED Imitative Report and Extends Its Distribution Agreement With Continuum Brands

Cresco Labs (OTCMKTS:CRLBF) has published its first annual Social Equity and Education Development (SEED) initiative report.

Cresco Labs publish a SEED initiative report

The report highlights the cannabis operator’s achievements in helping create an inclusive ad diverse cannabis industry through SEED’s community business incubators, restorative justice initiatives, and workforce and education development programs.

Charlie Bachtell, the company’s co-founder, and CEO stated that they are delighted to have launched the first SEED initiative in the industry. He lauded the massive strides the program has made towards equitable inclusion of Brown and Black people in the cannabis sector. The company in 2019/2020 year invested almost $15 million and contributed around 2,200 staff hours to 40 multi-layered SEED initiatives through the SEED initiative. Equally, Cresco Labs sponsored and financed 22 restorative justice events and more than 1,200 people seeking records expungement. The company also established 8 workforce and community development initiatives and helped develop cannabis industry curriculum initiatives in 5 colleges and universities.

Cresco extends distribution agreement with Continuum

Recently, the company extended its distribution agreement with the Californian brand Kings Gardens Inc. According to the agreement, Cresco Lab’s subsidiary, Continuum, will continue serving as the exclusive Kings Garden packaged products distributor. Continuum is among the largest full-service distributors in California.

Cresco Labs’ West regional President, David Gacom, said that California is one of the company’s core markets which is the main contributor to its revenue. He said that Kings Garden complements its strong portfolio in the state and will allow Cresco labs to open new doors and enhance its current accounts in California.

Cresco opens its tenth dispensary in Illinois

The company has continued to grow its presence in Illinois after opening its tenth dispensary in the state’s largest city of Naperville. The Sunnyside dispensary is in the western suburb of Chicago at 2740 W. 75^th St, one of Naperville’s busiest streets. Bachtell said that the company’s retail platform is outperforming because it focuses on finding premium locations for their stores.