Visit the Cresco Labs Investor Dashboard and stay up to date with data-driven, fact based due diligence for active traders and investors.
Cresco Labs Continues Winning Streak with Victory in Ohio
Midwest-based Cresco Labs achieved another big win this week with an Ohio Medical Marijuana Dispensary License, making them one of only five vertically integrated businesses in the state.
With over 375 applications submitted to earn one of the 56 coveted dispensary licenses in Ohio, Cresco Labs application in the southeast region of the state was successful making this their fourth consecutive application victory. Cresco recently won a cultivation license in Pennsylvania, dispensary licenses in Pennsylvania and a level 1 cultivation license in Ohio.
We are thrilled to be awarded a dispensary in this program and look forward to providing medical relief to patients across Ohio. We plan to be the state leader in this industry by manufacturing the highest quality product, providing caring service to the patients at our dispensary and giving back to the Ohio community.
Charlie Bachtell, Cresco’s CEO
Medical marijuana dispensaries were announced Monday by the Ohio State Board of Pharmacy. Dispensaries will sell medical marijuana plant material for vaping, and in oil, tinctures, lotions, patches, and edibles. Ohio’s law prohibits smoking marijuana or growing it at home. Patients with one of 21 qualifying medical conditions can buy and use marijuana after registering through a doctor certified to recommend medical marijuana in Ohio. Patient registrations are expected to begin in July.
Cresco is currently developing a 50,000 square foot, environmentally-sound greenhouse cultivation facility that will grow and harvest condition-specific strains of medical marijuana and produce non-invasive medical products for qualified patients. Cresco has also applied for a processing license which, through industry-leading extraction methods, will produce pharmaceutical-grade oral sprays, sublingual digestible tablets, transdermal patches and other forms of cannabis oil to provide users with a consistent, controlled dosage. Cresco’s brand name products will be available at all dispensaries across Ohio to patients that have been physician-certified with an approved medical conditions.
Cresco currently employs over 175 people with existing cultivation, manufacturing, and retail facilities located in Illinois, Pennsylvania, Nevada and Ohio.
For fact-based information on Cresco Labs, view the company’s sponsored Investor Dashboard.