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Cresco Labs Approved For Ohio's First Medical Marijuana Dispensary

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Cresco Labs Approved For Ohio's First Medical Marijuana Dispensary

Cresco Labs (OTC: CRLBF) will be the first to open a medical marijuana dispensary in Ohio. On Dec. 13, state authorities approved Cresco's dispensary in the village of Wintersville.

What Happened

Cresco Labs is one of the largest vertically integrated cannabis operators in the U.S. Its first Ohio dispensary is named CY+ and will provide a full selection of medical marijuana for patients certified by physicians to have any one of 21 approved medical conditions.

Cresco has built a 50,000-square-foot growing facility in Yellow Springs, Ohio to supply its dispensaries. 

Why It's Important

Ohio legalized medical marijuana in 2016 after the passage of the House Bill 523, which was signed into law by Gov. John Kasich. Yet it took the state almost two years to get everything ready; the Medical Marijuana Control Program in Ohio was supposed to be launched on Sept. 8, but was delayed.

Cresco Labs' CY+ was the first of 56 state-licensed dispensaries that received a certificate of operation from the state after a final inspection in November.

What's Next

Despite the green light from authorities, Cresco Labs won't be able to start selling medical marijuana immediately. Under the law, the weed has to be tested at state-certified testing labs. Even though the state has provided five labs with provisional licenses, none of them have yet been approved to start testing. It's expected that Cresco Labs might be able to start selling by Christmas.

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Public domain photo of Wintersville, Ohio via Wikimedia. 

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