Cresco Labs Acquisition Target Opens New Dispensaries in Florida

Cresco Labs (CSE:CL,OTCQX:CRLBF) announced the opening of its 12th VidaCann branded medical marijuana dispensary in Florida.

As quoted in the press release:

Cresco Labs has entered into an agreement to acquire the ownership interests of VidaCann, one of the largest and most advanced providers of medical cannabis in Florida. The acquisition of VidaCann is expected to close within the next 30 to 90 days, subject to the satisfaction of customary closing conditions including approval by the Florida Department of Health.

“Since announcing the acquisition in March, VidaCann has continued to execute on the expansion of its retail footprint,” said Cresco Labs CEO and Co-founder Charlie Bachtell. “The new dispensaries in Pensacola and Jacksonville provide a retail presence in two of the largest cities in Florida, which will improve our ability to capitalize on the very strong growth in the Florida market with more than 10,000 new patients being registered each week.

Click here to read the full press release.