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National Post
4 days ago
- Business
- National Post
Cresco Labs Announces Strategic Restructuring and Plans to Divest California Operations
Article content CHICAGO — Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) (' Cresco Labs ' or the ' Company '), today announced a strategic restructuring that includes plans to sell its California operations. This restructuring is part of the Company's broader strategy to strengthen its balance sheet, increase cash flow, and prioritize markets with the highest margins and long-term growth potential. Article content The Company is in active discussions with prospective buyers interested in acquiring its California assets, including cultivation, manufacturing, and select distribution operations. It expects to finalize the transaction within the next several quarters, subject to customary closing conditions and regulatory approvals. Cresco Labs will retain full ownership of its premium FloraCal® brand and continue producing and marketing the brand across key U.S. markets. Article content Article content 'Capital is increasingly precious in this environment, and our focus is on deploying it where it earns the strongest return,' said Charlie Bachtell, CEO and Co-founder of Cresco Labs. 'While California is the largest cannabis market in the world, the structural challenges—ranging from fragmented retail to price compression and the illicit market—combined with our lack of scaled footprint in the state, make it extremely difficult to generate sustainable profitability. Exiting California allows us to reallocate capital and resources to our core markets and build out new markets where we see clear pathways for growth and shareholder value.' Article content About Cresco Labs Inc. Article content Cresco Labs' mission is to normalize and professionalize the cannabis industry through a CPG approach to building national brands and a customer-focused retail experience, while acting as a steward for the industry on legislative and regulatory-focused initiatives. As a leader in cultivation, production, and branded product distribution, the Company is leveraging its scale and agility to grow its portfolio of brands that include Cresco, High Supply, FloraCal, Good News, Wonder Wellness Co., Mindy's, and Remedi, on a national level. The Company also operates highly productive dispensaries nationally under the Sunnyside brand that focus on building patient and consumer trust and delivering ongoing education and convenience in a wonderfully traditional retail experience. Through year-round policy, community outreach and SEED initiative efforts, Cresco Labs embraces the responsibility to support communities through authentic engagement, economic opportunity, investment, workforce development, and legislative initiatives designed to create the most responsible, respectable and robust cannabis industry possible. Learn more about Cresco Labs' journey by visiting or following the Company on Facebook, X or LinkedIn. Article content Forward-Looking Statements Article content 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 (collectively, 'forward-looking statements'). Such 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 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 for the year ended December 31, 2024, filed on SEDAR+ and EDGAR, 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 Labs' 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. Article content Article content Article content Article content Contacts Article content Media Article content Article content Press@ Article content Investors Article content Article content TJ Cole, Cresco Labs Article content Article content Article content Article content Article content
National Post
17-07-2025
- Business
- National Post
Cresco Labs to Report Second Quarter 2025 Financial Results on August 7, 2025
Article content CHICAGO — Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBF) (FSE: 6CQ) ('Cresco' or 'Company'), the industry leader in branded cannabis products with a portfolio of America's most popular brands and the operator of Sunnyside dispensaries, today announced it will report financial results for the second quarter ended June 30 th, 2025 on Thursday, August 7, 2025 before the market opens. Article content The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights. Article content Date Article content : Thursday, August 7, 2025 Article content Article content Time Article content : 8:30 am ET Article content Article content Webcast: Article content LINK Article content Article content Conference Call Registration: Article content LINK Article content Article content Dial-in Article content Archived access to the webcast will be available for one year on the Cresco Labs investor relations website. About Cresco Labs Inc. Cresco Labs' mission is to normalize and professionalize the cannabis industry through a CPG approach to building national brands and a customer-focused retail experience, while acting as a steward for the industry on legislative and regulatory-focused initiatives. As a leader in cultivation, production and branded product distribution, the Company is leveraging its scale and agility to grow its portfolio of brands that include Cresco, High Supply, FloraCal, Good News, Wonder Wellness Co., Mindy's and Remedi, on a national level. The Company also operates highly productive dispensaries nationally under the Sunnyside brand that focus on building patient and consumer trust and delivering ongoing education and convenience in a wonderfully traditional retail experience. Through year-round policy, community outreach and SEED initiative efforts, Cresco Labs embraces the responsibility to support communities through authentic engagement, economic opportunity, investment, workforce development and legislative initiatives designed to create the most responsible, respectable and robust cannabis industry possible. Learn more about Cresco Labs' journey by visiting or following the Company on Facebook, X or LinkedIn. Article content Article content Article content Contacts Article content Media Article content Article content press@ Article content Investors Article content Article content Article content Article content
Yahoo
17-07-2025
- Business
- Yahoo
Cresco Labs to Report Second Quarter 2025 Financial Results on August 7, 2025
CHICAGO, July 17, 2025--(BUSINESS WIRE)--Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBF) (FSE: 6CQ) ("Cresco" or "Company"), the industry leader in branded cannabis products with a portfolio of America's most popular brands and the operator of Sunnyside dispensaries, today announced it will report financial results for the second quarter ended June 30th, 2025 on Thursday, August 7, 2025 before the market opens. The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights. Event: Cresco Labs Second Quarter 2025 Earnings Conference CallDate: Thursday, August 7, 2025Time: 8:30 am ETWebcast: LINK Conference Call Registration: LINK Dial-in: 1-833-470-1428 (US Toll Free), 1-404-975-4839 (US Local)Access Code: 158138 Archived access to the webcast will be available for one year on the Cresco Labs investor relations website. About Cresco Labs Inc. Cresco Labs' mission is to normalize and professionalize the cannabis industry through a CPG approach to building national brands and a customer-focused retail experience, while acting as a steward for the industry on legislative and regulatory-focused initiatives. As a leader in cultivation, production and branded product distribution, the Company is leveraging its scale and agility to grow its portfolio of brands that include Cresco, High Supply, FloraCal, Good News, Wonder Wellness Co., Mindy's and Remedi, on a national level. The Company also operates highly productive dispensaries nationally under the Sunnyside brand that focus on building patient and consumer trust and delivering ongoing education and convenience in a wonderfully traditional retail experience. Through year-round policy, community outreach and SEED initiative efforts, Cresco Labs embraces the responsibility to support communities through authentic engagement, economic opportunity, investment, workforce development and legislative initiatives designed to create the most responsible, respectable and robust cannabis industry possible. Learn more about Cresco Labs' journey by visiting or following the Company on Facebook, X or LinkedIn. View source version on Contacts Media press@ Investors investors@ General Inquiries 312-929-0993info@
