CHICAGO–(BUSINESS WIRE). Navāda Labs, LLC, both social participation groups supported by the company’s SEED™ initiative, received conditional dispensing licenses for adult use as part of 185 new licenses recently issued by the state of Illinois.
“We welcome all new cannabis business owners in Illinois who are finally having the opportunity to get their business up and running. We’re also incredibly proud of our Cresco Labs team members who – through our SEED Community Business Incubator – have supported social justice groups with their license applications,” said Charlie Bachtell, CEO and co-founder of Cresco Labs. “The granting of an additional 185 retail licenses is the result of years of hard work and patience and marks a landmark moment for inclusion and social justice in cannabis. We see this milestone as a win-win-win: it’s a historic initiative to drive the diversification of the cannabis industry, it gives more consumers access to trusted, safe, and high-quality cannabis products, and it’s an excellent catalyst for the continued growth of this very one important and powerful economic engine and job generator in Illinois.”
There are currently 110 pharmacies operating in Illinois. On July 22, after a year and a half of delays, the state began issuing conditional issuance licenses for adult use to Social Justice applicants under the Cannabis Ordinance and Tax Act. The new licenses will more than double the number of pharmacies nationwide.
SEED’s Community Business Incubator will continue to provide essential services and support to Parkway Dispensary, Navāda Labs and all other social equity groups licensed by the state for dispensary and artisanal growing. Through Cresco’s Illinois Cannabis Education Center, the Company’s SEED team will host regular seminars, workshops and networking events with subject matter experts from the organization and community partners to help social justice groups refine and execute business plans, site construction and initial seed operations to support. For more information on SEED’s Community Business Incubator, visit www.crescolabs.com/seed or email [email protected]
According to BDS Analytics, the company is the top wholesaler of branded cannabis products in Illinois. The portfolio of brands available in Illinois includes FloraCal Farms, Cresco, High Supply, Good News, Mindy’s, Wonder Wellness and Remedi. Cresco also manufactures and distributes Kiva Confections branded products in the state.
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. Cresco Labs follows a consumer goods (“CPG”) approach and is the largest wholesaler of branded cannabis products in the United States. Designed to meet the needs of all consumer segments, its brands include some of the best known and most trusted national brands including Cresco, High Supply, Mindy’s Edibles, Good News, Remedi, Wonder Wellness Co. and FloraCal Farms. Cresco Labs’ national pharmacy brand, Sunnyside, is a wellness-focused retailer founded to build trust, education and convenience for existing and new cannabis consumers. Cresco Labs recognizes that the cannabis industry is poised to become one of the nation’s leading job creators and operates the industry’s largest social equity and educational development initiative, SEED, which was founded to ensure all members of society have the skills Possibility to work and own businesses in the cannabis industry. Learn more about Cresco Labs at www.crescolabs.com.