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 that it has entered into an exclusive distribution agreement (the “Agreement”) with Humboldt County-based Emerald Family Farms (“EFF”), a farmer co-op with hundreds of the Emerald Triangle’s finest farmers. EFF is a producer of sustainable, sun-grown cannabis. The Agreement will bring EFF’s award-winning lineup of jarred flower, pre-rolls and concentrates onto Cresco’s California distribution platform, Continuum, which is one of the largest full-service distribution businesses in the state.
“We have long admired and supported EFF’s focus on environmental stewardship and social responsibility,” said David Gacom, Regional President, West Region, at Cresco Labs. “Part of our success in expanding our California distribution network has been our ability to offer the highest quality craft flower. This Agreement continues to build on that strength with some of the best flower in California being added to our roster of top performing California brands. Having brought hundreds of the region’s finest farmers under one banner, EFF’s success story is proof that exceptional cannabis and uncompromising values can coexist.”
Patrick Murphy, Founder and CEO of EFF, added, “Our cultivators and leadership team work incredibly hard to ensure that all EFF products meet the highest quality standards. In our search for a distribution partner, we were looking for one that shared that mindset, Cresco Labs’ Continuum emerged as the clear choice. We are excited to have a partner that not only has a best-in-class full-service distribution platform, but also a team on the ground in California that truly understands how successful brands are built. We are confident that this will help ensure that our premium flower and concentrates can be enjoyed by consumers statewide.”
About Cresco Labs
Cresco Labs is one of the largest vertically integrated, multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Employing a consumer-packaged goods (“CPG”) approach, Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. Its brands are designed to meet the needs of all consumer segments and comprised of some of the most recognized and trusted brands including Cresco, Remedi, High Supply, Cresco Reserve, Good News, Wonder Wellness, FloraCal Farms and Mindy’s Chef Led Artisanal Edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside, Cresco Labs’ national dispensary brand, is a wellness-focused retailer created 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 Labs operates the industry’s largest Social Equity and Educational Development initiative, SEED, which was established to ensure that all members of society have the skills, knowledge and opportunity to work and own businesses in the cannabis industry. Learn more about Cresco Labs at CrescoLabs.com.
About Emerald Family Farms
Founded in 2015, EFF has been focused on cultivating award-winning cannabis and concentrate products, while working with smaller farmers to help them navigate the ever-changing regulatory and economic landscape. Incorporating the connoisseur cannabis of member farms from Mendocino, Humboldt and Trinity Counties into our supply chain helps us offer a wider strain variety to our customers and offers a life-line to the region’s farmers and our local communities. Learn more about EFF at https://emeraldfamilyfarms.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 Annual Information Form dated April 28, 2020, and other documents filed by the Company with Canadian securities regulatory authorities; 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.