Cresco Labs Stock Price, News & Analysis

Cresco Labs (CSE:CL) (OTCQX:CRLBF) has entered an exclusive distribution agreement with Emerald Family Farms (EFF), enhancing its California distribution capabilities. This collaboration will add EFF's sustainable cannabis products, including flower and concentrates, to Cresco's distribution platform, Continuum. EFF, a farmer co-op, is known for its commitment to quality and environmental stewardship. The partnership aims to bring premium cannabis products to consumers across California, supporting both companies' growth in the rapidly expanding cannabis market.

Cresco Labs (CSE:CL, OTCQX:CRLBF) has launched 1.0 g and 0.5 mg Live Cartridges from its High Supply line in California and Illinois. These products feature 100% cannabis oil enriched with live terpenes at competitive prices, aiming to attract both enthusiasts and value shoppers. The expansion continues Cresco's strategy of developing a diverse brand portfolio, enhancing its offerings in the cannabis sector. This initiative follows the recent introduction of Cresco’s 1.0 g liquid live resin vape cartridges, supporting solid growth in a highly competitive market.

Cresco Labs (CSE:CL) (OTCQX:CRLBF) has successfully closed its overnight marketed offering of subordinate voting shares at C$16.00 per share, raising approximately US$125 million. The offering included sales in Canada (excluding Québec) and a private placement in the U.S. for qualified institutional buyers. Proceeds will be utilized for organic and inorganic growth initiatives and general corporate purposes. The offering was led by ATB Capital Markets Inc. as the sole bookrunner, with A.G.P./Alliance Global Partners serving as a financial advisor in the U.S.

Cresco Labs (CSE:CL) (OTCQX:CRLBF) has appointed Ty Gent as the new Chief Operating Officer. Gent brings over 35 years of experience from the CPG industry, including roles at US Foods and PepsiCo, where he optimized supply chains and improved operational processes. His expertise will enhance Cresco's scalability and operational efficiency in the rapidly growing cannabis market. Concurrently, David Ellis transitions from COO to Regional President of Operations for Emerging Markets, focusing on replicating successful strategies in new states.

Cresco Labs (CSE:CL) (OTCQX:CRLBF) reported that its employees contributed over 5,000 volunteer hours in 2020 through the 'Make a Difference' initiative. This initiative, started in June 2020, aimed to support communities amid social justice movements following incidents involving George Floyd and others. Volunteers worked across 28 cities in eight states, aiding over 50 organizations, packaging food, and addressing local needs. CEO Charlie Bachtell emphasized the company’s commitment to corporate social responsibility and community support.

Cresco Labs (CSE:CL, OTCQX:CRLBF) announced pricing for an overnight marketed offering of subordinate voting shares at C$16.00, totaling approximately US$125 million. The pricing reflects a 3.3% discount to the last close on January 14, 2021. All shares are anticipated to be purchased by seven institutional investors. The offering will take place across Canada, except Québec, and in the U.S. as a private placement. Proceeds will be used for growth opportunities and corporate purposes, with closing expected around January 21, 2021.

Cresco Labs (CSE:CL) (OTCQX:CRLBF) has announced an overnight marketed offering of subordinate voting shares across Canada (excluding Québec) and privately to qualified institutional buyers in the U.S. The final pricing and terms are yet to be determined, with an additional 15% available for agents to cover over-allotments. Proceeds from the offering will support organic and inorganic growth opportunities and general corporate purposes. The securities are not registered under U.S. laws, thus may not be sold in the U.S. without proper registration or exemption.

Cresco Labs (CSE:CL, OTCQX:CRLBF), a leading multistate cannabis operator in the U.S., announced its participation in two upcoming investor conferences. The 23rd Annual Needham Growth Conference is scheduled for January 12, 2021, where CEO Charlie Bachtell will engage in a fireside chat. Following this, the ATB Capital Markets 9th Annual Institutional Investor Conference will occur on January 14, 2021, featuring one-on-one meetings and a panel discussion led by Bachtell.

Cresco Labs (CSE:CL, OTCQX:CRLBF) has released its inaugural annual report for the SEED (Social Equity and Educational Development) initiative, highlighting efforts to promote diversity in the cannabis industry. The report details investments exceeding $1.5M, 22 restorative events, and support for over 1,200 individuals seeking record expungement. The SEED program also saw 50 businesses aided through Community Business Incubator events and collaboration with five educational institutions. CEO Charlie Bachtell emphasized the need for ongoing work to enhance inclusivity and social responsibility.