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Cresco Labs Expands In Illinois, Debuts Sunnyside Danville Store

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Cresco Labs Expands In Illinois, Debuts Sunnyside Danville Store

Multistate cannabis company Cresco Labs (CSE: CL) (OTCQX: CRLBFconfirmed Wednesday that it will open a sixth Illinois dispensary.

Sunnyside Danville is touted as the first adult-use-only retail location in eastern Illinois.

Starting May 27, the new store, which spans 4,800 square feet, will be offering the company's brands, including Cresco, Mindy's Chef Led Artisanal Edibles, Remedi, Reserve, and High Supply.

Joe Caltabiano, cannabis entrepreneur and a co-founder of Cresco Labs, will speak at the Virtual Benzinga Cannabis Capital Conference on June 1st. Don't miss him!

"This is our sixth store in Illinois and with additional cultivation from our recent expansion coming online throughout Q3, we are set to generate significant operating leverage and demonstrate the value of going deep," said Cresco Labs' CEO and co-founder Charlie Bachtell.

In response to the ongoing health crisis, the store will operate online as well, receiving online orders via Sunnyside.shop.

Besides Danville dispensary, Cresco operates five other Sunnyside dispensaries across Illinois, including Wrigleyville Chicago, Elmwood Park, Buffalo Grove, Rockford, and Champaign.

The company said it plans to launch its seventh store in the Chicago's River North neighborhood as well as a few other retail locations in the central business district in Chicago, South Beloit, and Schaumburg.

Last month, Cresco received the adult-use dispensing organization license from the Illinois Department of Financial Regulation to cut the ribbon on its first recreational-use cannabis dispensary in downtown Chicago.

The Sunnyside Danville's opening comes on the heels of Cresco's expansion in Ohio.

The company announced Tuesday, it has agreed to purchase Verdant Creations' four dispensaries for $375,000 in cash and $500,000 of its subordinate voting shares.

Currently, Cresco operates 215,000 square feet of cultivation space throughout its three facilities in Joliet, Lincoln and Kankakee.

 

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