CRESCO LABS (CRLBF) Stock News

Cresco Labs (CRLBF) filed a supplement to its management information circular concerning a proposed amendment to its super-voting shares. The supplement adds and clarifies disclosure about the proposed amendment and related minority approval requirements in the circular dated September 18, 2026.

The annual general and special shareholder meeting will be held on October 30, 2026, at 12:00 p.m. Central Daylight Time via live audio webcast. The supplement and meeting materials are available on SEDAR+, EDGAR and the company's website.

Cresco Labs (CRLBF) filed proxy materials for its October 30, 2026 shareholder meeting on proposed corporate and governance changes.

Shareholders will vote on a share exchange creating a new publicly listed parent, TopCo, and a subsequent move of TopCo from British Columbia to Delaware. Company securities would be exchanged for TopCo securities without changing shareholders' relative voting or economic rights. The board could carry out a reverse share split if needed, but no ratio or effective date was given. If approved, the Delaware move could occur after the exchange through December 31, 2027.

A third vote would extend the multiple voting shares' sunset date from the first to the third anniversary of a U.S. listing, after which those shares would convert automatically. Cresco is preparing for a potential senior U.S. exchange listing; no listing has been announced. Shareholders will also vote on setting the board size at seven.

Cresco Labs (CRLBF) appointed Edward Tilly to its Board of Directors as an independent director, effective September 18, 2026.

Tilly will join the Board’s Audit Committee, bringing total board membership to eight directors. He has more than 35 years of experience in exchange operations, market structure, capital markets and global regulatory engagement. He previously served for a decade as Chairman and CEO of CBOE Global Markets, where market capitalization grew from about US$2 billion to more than US$18 billion, led CBOE’s US$3.4 billion acquisition of BATS Global Markets and expanded its operational footprint to six continents. Tilly was also CEO of Clear Street and remains on its Board of Directors.

Cresco Labs (CRLBF) closed the acquisition of 100% of PharmaCann Penn, LLC for an aggregate consideration of US$50 million, adding nine operational medical marijuana dispensaries in Pennsylvania.

The acquisition expands Cresco’s retail footprint in the state, which generated more than US$1.1 billion in medical marijuana sales last year. Following closing, Cresco becomes the #1 retailer serving medical marijuana patients across Pennsylvania and already holds the #1 wholesaler position there. The company highlights that scale and vertical integration in this core market create durable competitive advantages and allow better leverage of its existing cultivation and wholesale infrastructure.

The US$50,000,000 purchase price is satisfied through a mix of cash and a seller note, and the transaction closed on a cash-free, debt-free basis with a normalized target level of working capital. The transaction is expected by Cresco to be immediately accretive to revenue, margins and cash flow, and this announcement is designated as a “designated news release” under Cresco’s January 29, 2026 prospectus supplement.

Cresco Labs (OTCQX: CRLBF) reported second quarter 2026 revenue of $173.3 million, gross profit of $86.9 million (50.2% margin) and adjusted gross profit of $89.5 million (51.6% margin). SG&A was $63.2 million, with adjusted SG&A of $55.4 million, or 32.0% of revenue.

The company generated net income of $15.4 million and adjusted EBITDA of $39.5 million, a 22.8% margin. Management highlighted sequential revenue growth of 15% and adjusted EBITDA growth of 20%. As of June 30, 2026, Cresco held $67 million in cash, with a $311 million senior secured term loan and $19 million mortgage. The company reported maintaining the No. 1 share position in several billion‑dollar markets and announced a CFO transition, with Sharon Schuler stepping down and Mark Stortz serving as interim CFO.

Cresco Labs (OTCQX:CRLBF) announced it will release its financial results for the quarter ended June 30, 2026 on Thursday, August 6, 2026, before the market opens. Management will host a 8:30 a.m. ET conference call and webcast, with the webcast archived for one year on the company’s investor relations website.

Cresco Labs (OTCQX: CRLBF) closed a US$50 million revolving credit facility with Massachusetts-based Needham Bank. The Facility bears a fixed 7.99% annual interest rate and matures in August 2030.

According to Cresco Labs, funds may support growth initiatives, acquisitions and general corporate purposes, providing non-dilutive capital and broader commercial banking services.

Cresco Labs (OTCQX: CRLBF) registered certain state-licensed medical cannabis facilities with the U.S. DEA after federal rescheduling of medical cannabis to Schedule III. The registrations cover dispensary, cultivation and processing operations serving medical patients within its footprint and use the expedited 60-day DEA registration pathway.

Cresco Labs (OTCQX: CRLBF) reported that the Texas Department of Public Safety corrected its conditional license tabulation under the Texas Compassionate Use Program, affecting multiple applicants. The conditional license previously awarded to Cresco Labs Texas, LLC has been rescinded, and the entity is now on the TCUP eligibility list.

Cresco Labs remains confident in its application, is evaluating options to work with the state, and is eligible for a conditional license if any of the 12 current conditional licensees fail due diligence or operational requirements.