CHICAGO – October 10, 2018 – PRESS RELEASE – Cresco Labs, LLC has announced plans to execute a reverse takeover of Randsburg International Gold Corp., by which it will become a public company. Closing of the proposed transaction is expected during the fourth quarter of 2018. Terms of the proposed transaction may be found in a press release issued by Randsburg and available here. Cresco is also seeking approval to list its common shares on the Canadian Securities Exchange (CSE) in accordance with the Exchange’s customary listing conditions.
"The Canadian market has been very supportive of U.S.-based cannabis companies, and we look forward to having expanded access to capital that will help us accelerate our strategic growth plan," said Cresco Labs Chief Executive Officer Charles Bachtell. “Three years ago, we formed Cresco Labs to apply our founders’ institutional knowledge and regulatory expertise to the rapidly evolving cannabis industry. We believe Cresco has a compelling investment story for institutional and individual investors looking to participate in the dynamic growth of this sector.”
Cresco Labs is one of the largest cannabis companies in the United States with operations in Illinois, Ohio, Pennsylvania, Nevada, California and Arizona. Cresco is compliance-focused, vertically integrated from seed to sale, and dedicated to operational excellence, product development and consumer education.
Operations and Footprint
Cresco has emerged as a dominant leader as measured by market share, merit-based license application wins, speed-to-market, access to capital and engagement with consumers in the states where it operates.
As a cultivator, processor and distributor, Cresco is currently operating in six states. This operational market footprint has over 120 million residents and 866 million tourists annually, making it one of the leading population footprints in the U.S.
Cresco understands the importance of providing appropriate and approachable cannabis to each consumer segment across the country. Developing this understanding of the cannabis consumer has developed Cresco’s suite of branded products. In fact, Cresco is a leader in safe and efficacious, consistently-dosed products and compliant packaging. Cresco plans to expand its presence in both adult-use and medically-focused legal markets across the country.
- Cresco: Namesake for our company, Cresco elevated everyday cannabis. THC-focused products available in flower, vape pens, and multiple forms of extracts.
- Mindy’s Edibles: In collaboration with James Beard Award Winning Chef Mindy Segal, Cresco Labs created the industry’s first true culinary-backed edible option.
- RESERVE: Designed for more discerning palates, Reserve is a manifestation of the best efforts of Cresco’s strains.
- remedi: Products designed for the medically-minded patient, with forms reminiscent of traditional pharmaceuticals.
Many Americans don’t know that some form of the use of cannabis has been legalized in 31 of the United States and Washington D.C. Education plays a big role in Cresco Labs' business operations, aiming to provide consumers and physicians with information on cannabis in a straightforward and intuitive way. Cresco provides education that fosters awareness, supports consumer comfort and stimulates brand awareness. Cresco is also active in public affairs, supporting and influencing cannabis legislation, including helping state governments in their struggles with opioid addiction.