CHICAGO, March 19, 2020–(BUSINESS WIRE)–Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or “the Company”), one of the largest vertically integrated multistate cannabis operators in the United States, today provided an update on its national response to COVID-19. Cresco Labs views the health and safety of its customers, patients, and employees as its number one responsibility during this challenging time.
The Company will continue to operate all of its dispensaries during regularly scheduled hours, as permitted, to ensure that the tens-of-thousands of patients and consumers that rely on its cannabis products for their daily wellness and quality of life continue to have access to them. In addition, Cresco Labs has heightened its already-stringent sanitation measures and implemented procedures at the retail level to ensure adequate social distancing between employees and consumers. Some of these measures include: driving traffic to alternative channels, including online ordering; text message staging notifications; home delivery (where applicable); and curbside pickup, which will be launching next week in Illinois.
Cresco’s cultivation and production operations will continue to operate with elevated sanitation, quality, and safety programs, which have been designed to mirror the highest standards used by food and beverage manufacturers across the country. In accordance with the guidance provided by the CDC, and with support from the Company’s Public Health and Epidemiology consultant, Cresco is taking every step possible to provide the healthiest environment at its facilities nationwide.
We have spent the last weeks preparing our organization to best manage this unique circumstance. We have approached this matter from the perspective of a responsible employer, a manufacturer, a retailer, a community member and an industry leader – we are responsible to all of our stakeholders.
Charlie Bachtell, Cresco Labs CEO and Co-Founder
We have been working side-by-side with our state administrations to provide counsel regarding best practices and potential solutions that will both accomplish the social imperative to stop the spread of COVID-19 while ensuring that patients and all customers have the products they rely on for their health and wellness.
“Accordingly, many government agencies have deemed cannabis products “essential” in the communities that Cresco Labs operates in and as medical providers, we take our obligations during the current period of global uncertainty very seriously. Many of our dispensaries are classified in the same category as pharmacies that people depend on as trusted access points for prescription medicine and continuing to provide that access is a fundamental responsibility. We have always viewed ourselves as responsible stewards of this industry first and foremost – we fundamentally embrace our role as leaders in creating sustainable state programs within which we operate,” said Charlie Bachtell, Cresco Labs CEO and Co-Founder.
Mr. Bachtell continued, “It is in the most difficult times where the foundation of an organization matters, and character is revealed – this is when leaders lead. Over the last year we have focused intently on building the management and operational foundation that would not only support scalability but would successfully handle all of the variables associated with an emerging and constantly-evolving industry. I’m thankful that Cresco can rely on a team with decades of senior leadership experience in safe manufacturing and supply-chain management from companies like Lifeway Foods, Abbott, AbbVie, and Johnson & Johnson, as well as a retail team that has a track record of driving responsible performance during challenging times at companies like Starbucks, Apple and Walgreens. Together, backed by our best-in-class management team, 1,200+ team members deeply committed to the wellbeing of our patients/consumers, strategic operational footprint, and strength of balance sheet, Cresco will successfully manage through this uncertainty and continue to be the most important company in cannabis.”
The Company will provide an update regarding the impacts of COVID-19 during its fourth quarter fiscal 2019 earnings call.
About Cresco Labs
Cresco Labs is one of the largest vertically-integrated multi-state cannabis operators in the United States. Cresco is built to become the most important company in the cannabis industry by combining the most strategic geographic footprint with one of the leading distribution platforms in North America. Employing a consumer-packaged goods (“CPG”) approach to cannabis, Cresco’s house of brands is designed to meet the needs of all consumer segments and includes some of the most recognized and trusted national brands including Cresco, Remedi and Mindy’s, a line of edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside*, Cresco’s national dispensary brand, is a wellness-focused retailer designed 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 has launched the industry’s first national comprehensive Social Equity and Educational Development (SEED) initiative designed to ensure that all members of society have the skills, knowledge and opportunity to work in and own businesses in the cannabis industry. Learn more about Cresco Labs at www.crescolabs.com.
