CHICAGO–(BUSINESS WIRE)–Cresco Labs, a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, today announced it has mutually agreed with Columbia Care to extend the outside date to complete the proposed acquisition by Cresco of Columbia Care from March 31, 2023 to June 30, 2023. The extension will allow the Companies additional time to finalize divestiture agreements and obtain the regulatory approvals required to close. The agreement amending the outside date in the definitive arrangement agreement between the Companies announced in March of 2022 will be filed under Cresco’s profile on www.sedar.com.
“We are making good progress on the remaining divestitures and moving closer to completing the Columbia Care Acquisition. Given the current divestiture and regulatory approvals timeline, we now expect closing to occur sometime before the end of June 2023,” said Charles Bachtell, CEO and Co-founder of Cresco Labs. “In the meantime, our teams are doing the hard work of streamlining operations and optimizing our asset base to be the strongest company we can upon closing.”
Cresco Labs announced that it will report financial results for the fourth quarter and full year ended December 31st, 2022 on Thursday, March 16th, 2023 before the market opens.
The Company will host a conference call and webcast to discuss its financial results, provide investors with key business highlights and provide an update to the investment community on the pending acquisition of Columbia Care.
Event: Cresco Labs Fourth Quarter and Full Year 2022 Earnings Conference Call
Date: Thursday, March 16th, 2023
Time: 8:30 am EST
Dial-in: 1-833-470-1428 (US Toll Free), 1-404-975-4839 (US Local), +1 929-526-1599 (Other)
Access Code: 759131
Archived access to the webcast will be available for one year on the Cresco Labs investor relations website.
About Cresco Labs Inc.
Cresco Labs is one of the largest vertically integrated multi state cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Employing a consumer-packaged goods (“CPG”) approach, Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. Its brands are designed to meet the needs of all consumer segments and comprised of some of the most recognized and trusted national brands including Cresco, High Supply, Mindy’s Edibles, Good News, Remedi, Wonder Wellness Co. and FloraCal Farms. Sunnyside, Cresco Labs’ national dispensary brand, is a wellness-focused retailer created 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 Labs operates the industry’s largest Social Equity and Educational Development initiative, SEED, which was established to ensure that all members of society have the skills, knowledge and opportunity to work and own businesses in the cannabis industry. Learn more about Cresco Labs at www.crescolabs.com.