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Wonder debuts in Illinois with low-dose Wonder Minis hard sweets for category newcomers to consume and control their experience with confidence
Cresco Labs (CSE:CL) (OTCQX:CRLBF) ("Cresco" or "the Company"), one of the largest vertically integrated multistate cannabis operators in the United States, announced today the launch of Wonder Wellness Co. ("Wonder"), the newest brand to join its expanding portfolio of national cannabis brands. Wonder addresses the direct needs of the large segment of consumers who are accepting of cannabis but have yet to enter the category. Created to take the guesswork out of cannabis, the portfolio offers low-dose, approachable forms that are simple to use with packaging that is easy to understand, so newcomers can explore the plant and control their experience with confidence. The brand debuts in Illinois with Wonder Minis, a line of 3 mg hard sweets focused on effects-driven benefits.
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Cresco Labs launches newest brand, Wonder Wellness Co., in Illinois with Wonder Minis, a line of 3 mg hard sweets. (Photo: Business Wire)
"A top priority of our business is to build the most important and trusted portfolio of national cannabis brands that appeals to and supports a variety of consumers," said Greg Butler, Chief Commercial Officer at Cresco Labs. "Cannabis acceptance in Illinois is now mainstream and consumption is growing; however, there are still 38 percent of adults aged 21 and older who are not currently consuming cannabis but are open to it. This is a sizable audience who could benefit from the plant if offered products that met their direct needs. With Wonder, our goal is to drive continued wholesale growth through approachable, low-dose effects-driven products that newcomers can confidently consume to find the right balance and satisfy a desired experience."
Wonder Minis are the first low-dose (3 mg THC or less), effects-driven hard sweets to arrive in the Illinois market. Each of the three Wonder Minis has a distinct blend of botanically derived terpene formulas, containing a total of 3 mg of cannabinoids per hard sweet. Laugh (Tangerine flavor) offers 3 mg THC; Sleep (Plum flavor) has 2 mg THC and 1 mg CBD; and Relax (Blueberry flavor) provides 1 mg THC and 2 mg CBD. Wonder Minis also represent the first dry blended and pressed product to enter Cresco's House of Brands. The development of Wonder Minis involved new manufacturing and infusion processes to obtain low doses per serving, along with a new tablet pressing and tablet packaging lines.
"It is our obligation as a leader in the industry to invest in solutions that will appeal to the needs of the broader audience who isn't a consumer but is interested in cannabis," said Cory Rothschild, SVP of Brand Marketing at Cresco Labs. "When you think about the needs of cannabis newcomers, their needs look quite different than experienced consumers. They might feel intimidated or worry than only an expert can enter a category filled with intimidating forms, potencies and packaging. It was clear to our company that we needed a brand that would speak directly to this group and offer products that would meet their preferences and ease their hesitations. We've developed Wonder to be a trusted and guided source for education so that new consumers can start their cannabis journey with confidence."
Cresco Labs is the largest wholesaler of branded products in the industry with $90.5 million in wholesale revenue. The launch of Wonder grows Cresco's portfolio to eight cannabis brands—Cresco, Mindy's Chef Led Artisanal Edibles, Remedi, Cresco Reserve, High Supply, Good News, FloraCal and Wonder Wellness Co.—all developed with differentiated positionings and products to meet the diverse needs of different consumers.
Wonder will expand to Cresco Labs' other operational markets soon. For more information on Wonder, please visit wonderwellness.co .
About Cresco Labs:
Cresco Labs is one of the largest vertically-integrated multi-state cannabis operators in the United States. Cresco is built to become the most important company in the cannabis industry by combining the most strategic geographic footprint with one of the leading distribution platforms in North America. Employing a consumer-packaged goods ("CPG") approach to cannabis, Cresco's house of brands is designed to meet the needs of all consumer segments and includes some of the most recognized and trusted national brands including Cresco, Remedi, High Supply, Cresco Reserve, Good News, Wonder Wellness Co., FloraCal and Mindy's Chef Led Artisanal Edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside, Cresco's national dispensary brand, is a wellness-focused retailer designed to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco provides the industry's first national comprehensive Social Equity and Educational Development (SEED) program designed to ensure that all members of society have the skills, knowledge and opportunity to work in and own businesses in the cannabis industry. Learn more about Cresco Labs at crescolabs.com .
Forward Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, ‘may,' ‘will,' ‘should,' ‘could,' ‘would,' ‘expects,' ‘plans,' ‘anticipates,' ‘believes,' ‘estimates,' ‘projects,' ‘predicts,' ‘potential' or ‘continue' or the negative of those forms or other comparable terms. The Company's forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under "Risk Factors" in the company's CSE Listing Statement filed with SEDAR; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company's forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco's shares, nor as to the Company's financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company's forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201201005385/en/
Media:
Jason Erkes, Cresco Labs
Chief Communications Officer
press@crescolabs.com
Investors:
Jake Graves
Senior Analyst, Investor Relations
investors@crescolabs.com
For general Cresco Labs inquiries:
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info@crescolabs.com
