NEW KENSINGTON, Pa.--(BUSINESS WIRE)--Cresco Labs (CSE:CL) (OTC:CRLBF) (“Cresco” or “the Company”), one of the largest vertically integrated multistate cannabis operators in the United States, today announced the opening of a CY+ dispensary in New Kensington, Pennsylvania. To commemorate the opening, Cresco welcomed Pennsylvania Lieutenant Governor John Fetterman to cut the ceremonial ribbon and to speak about the opioid crisis plaguing the state and Cresco’s role in advancing medicinal cannabis as a safe and accessible alternative for patients. With New Kensington as the third CY+ dispensary to open in Pennsylvania, Cresco has licenses for three more dispensaries planned to open during the second quarter of 2019.
“We are excited to open our third CY+ dispensary in the growing Pennsylvania market and to be the first in the Pittsburgh metro area to launch our online ordering feature,” said Cresco Labs CEO and co-founder Charlie Bachtell. “Patients across the state can reserve their orders online and enjoy convenient and easy access to their selected medicines at three dispensaries in Pennsylvania with three more planned for the first half of this year. These firsts in the state of Pennsylvania underscore our mission to normalize and professionalize the cannabis experience for customers across a multitude of market segments.”
Cresco Labs first entered the Pennsylvania market in February 2018 with the opening of its Butler retail dispensary, making the first ever legal sale of cannabis under Pennsylvania’s medical marijuana program. Cresco’s flagship location in Pennsylvania, which opened in June 2018, is located in the historic Strip District of the city of Pittsburgh. Cresco also operates a state-of-the-art cultivation facility in the city of Brookeville.
“We’re creating a retail experience that matches the varied needs of our patients,” Bachtell continued. “We are incorporating technology that can help patients get the product they want when they want it, and without the wait. In conjunction with our New Kensington dispensary, we are also launching our RESERVE branded product in Pennsylvania, delivering a premium and exclusive cannabis experience based on years of selective plant breeding. Our CY+ dispensaries carry a high-quality selection of products such as dry leaf, vape pens and cartridges, oral sprays, pills, topicals, and transdermal patches from growers across the state. We are deeply committed to solidifying our market leadership in one of the most attractive and highly coveted markets in the country and expanding the relief we provide to patients in that state.”
Pennsylvania operates as a high-barrier market with very limited market participation. Retail sales opened in February 2018 to a limited number of retail locations across the state. Pennsylvania's medical marijuana market is expected to become one of the biggest markets in the U.S., according to Marijuana Business Daily, January 2018. Cresco Labs operates as Cresco Yeltrah in Pennsylvania.
About Cresco Labs:
Cresco Labs, based in Chicago, is a leading U.S. cannabis company with experienced management, access to capital and a demonstrated growth strategy. As a differentiated grower, processor and retailer of premium cannabis operating in seven states, the company focuses on entering highly regulated markets with outsized demand potential and high barriers to entry. Its impressive speed-to-market gives Cresco a distinct competitive advantage as it replicates its model to expand its national footprint. Cresco’s proven ability to execute is complemented by a cutting-edge brand strategy spearheaded by several of the brightest minds in consumer marketing in the nation. Cresco’s products are 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. Learn more about Cresco Labs at crescolabs.com.
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