Cresco Labs Announces Hope Heal Health's Provisional Approval for… – New Cannabis Ventures


CHICAGO, April 15, 2019–(BUSINESS WIRE)–Cresco Labs Inc. (“Cresco Labs” or the “Company”) (CSE: CL) (OTCQX: CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, today announced that the Hope Heal Health, Inc. (HHH) cultivation facility and dispensary in Fall River, Bristol County, Massachusetts has received provisional approvals for adult-use cannabis cultivation, manufacturing, and retail licenses. Cresco Labs entered into a definitive merger agreement with HHH for its Massachusetts cultivation, manufacturing, processing, and dispensary operations at the end of 2018. An application for approval of the merger will be submitted to the Massachusetts Cannabis Control Commission, and the change of control of HHH is subject to such approval.

The Fall River dispensary is currently approved for medical-use cannabis sales and offers medical-grade vape cartridges, edibles, tinctures, topicals, concentrates, and flower. Upon completion of inspections and other final steps in the licensing process, the Fall River dispensary expects to begin selling cannabis products for adult-use in 60-90 days.

The receipt of this provisional adult-use licenses for HHH’s Fall River dispensary is another example of our strategic business approach to partner with professional and responsible operators. With only 15 adult-use cannabis dispensaries currently open in Massachusetts, we anticipate that there will be strong demand in the Fall River dispensary given the robust growth being seen in this market.

Cresco Labs CEO and Co-founder Charlie Bachtell

The receipt of the adult-use licenses is well timed with the first medical pilot harvest coming in from the HHH cultivation facility in Fall River. The harvest will provide the dispensary with superior quality cannabis to meet the volume of sales that we expect going forward.

The HHH dispensary, located at 1 West Street in Fall River, MA, is open daily, 10:00 am to 7:00 pm. For more

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