Cannabis News

Cresco Labs (CSE:CL) (OTCQX:CRLBF) ("Cresco" or "the Company"), one of the largest vertically integrated multistate cannabis operators in the United States, announced the hiring of CPG industry veteran Ty Gent as the Company's new Chief Operating Officer ("COO"). As COO, Gent will be responsible for operational consistency and efficiency across markets and implementation of structural enhancements to facilitate scaling.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210119005322/en/

Cresco Labs hires CPG industry veteran and supply chain expert Ty Gent as the company's new Chief Operating Officer. (Photo: Business Wire)

Cresco Labs hires CPG industry veteran and supply chain expert Ty Gent as the company's new Chief Operating Officer. (Photo: Business Wire)

Gent joins Cresco with more than 35 years of CPG and supply chain leadership experience. Most recently, he was the Chief Supply Chain Officer at US Foods, where he developed and implemented a new supply chain strategy, optimized its large-scale transportation network, launched field-based continuous improvement processes, and upgraded key systems technologies and planning capabilities. Previously, he worked at PepsiCo for 30 years in various executive management positions. Among Gent's accomplishments, he led end-to-end supply chain operations for PepsiCo foods in South and Central America as the Senior Vice President of Operations. As Senior Vice President of Logistics, he steered the PepsiCo transportation network for North America and the warehouse delivery network for Quaker, Gatorade and Tropicana brands divisions within PepsiCo's North America Beverage Sector.

As a subject matter expert in supply chain optimization, S&OP planning, manufacturing, warehouse management, distribution, and quality and safety, Gent brings expertise that is directly transferrable to Cresco's key focus of producing and distributing branded products at substantial scale.

"With the immense growth of Cresco Labs and our multi-state footprint, the scale and demands of our business have grown significantly," said Charlie Bachtell, Cresco Labs' CEO and Co-founder. "Ty's experience leading distribution and supply chain optimization for one of America's largest food distributors and one of the leading CPG companies in the world will help Cresco Labs enhance its level of quality and service by driving operational execution as we significantly increase the scale of operations across our strategic multi-state footprint. He's made a career of taking existing operations to the next level, optimizing integrated supply chains and building leaders within organizations—creating greater success at every stop along the way."

"Cannabis is an exciting industry with tremendous growth potential, and Cresco's focus on the middle verticals of the value chain—the production and distribution of branded products—is what drew me to the company. It is clear from my work at PepsiCo that the future of the cannabis industry, like any CPG industry, is tied to operational excellence related to branded products and wholesale distribution," said Ty Gent. "My work at PepsiCo, where I was responsible for reducing costs and enhancing service across PepsiCo's supply chain, is directly applicable to Cresco Labs. I'm excited to be part of the continued building of Cresco Labs' team into one that sets the standard for operating efficiency and consistency and exceeds our patients' and customers' expectations for quality. We will continue to make operational execution a competitive advantage at Cresco Labs."

Concurrent with Ty Gent's hiring, David Ellis will move from COO to Regional President of Operations for Emerging Markets (Massachusetts, New York, Pennsylvania, Ohio and Maryland). As part of the initial Cresco Labs team, Ellis has been crucial in laying the foundation for the Company's end-to-end operational model and leading the growth of Illinois, Pennsylvania and California. He will be responsible for repeating that successful playbook in Cresco's emerging markets.

Charlie added, "David Ellis was employee number two at Cresco, and his entrepreneurial approach and leadership through our startup phase has been instrumental in getting Cresco Labs to where it is today. He led the expansion of cultivation and wholesale in our two largest markets and spearheaded the development and market introduction of some of our most successful branded products. I'm excited to see him dedicate his focus and experience to repeating that success in our emerging markets."

About Cresco Labs

Cresco Labs is one of the largest vertically integrated, multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Employing a consumer-packaged goods ("CPG") approach, Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. Its brands are designed to meet the needs of all consumer segments and comprised of some of the most recognized and trusted brands including Cresco, Remedi, High Supply, Cresco Reserve, Good News, Wonder Wellness, FloraCal Farms and Mindy's Chef Led Artisanal Edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside, Cresco Labs' national dispensary brand, is a wellness-focused retailer created 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 Labs operates the industry's largest Social Equity and Educational Development initiative, SEED, which was established to ensure that all members of society have the skills, knowledge and opportunity to work 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 Annual Information Form dated April 28, 2020, and other documents filed by the Company with Canadian securities regulatory authorities; 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.

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:
312-929-0993
info@crescolabs.com

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Purpl Scientific and Green Thumb Industries Partner to bring Rapid NIRS Testing to Cannabis Oil Production

Purpl Scientific Inc., a division of Nynomic AG (M7U: Xetra), has signed leading Cannabis MSO, Green Thumb Industries Inc. ("Green Thumb") (CSE: GTII) (OTCQX: GTBIF) to an R&D agreement, which aims to bring near-infrared spectroscopy (NIRS) testing for Cannabis Extracts and finished products. Preliminary results show that NIRS can compete with High-Performance Liquid Chromatography (HPLC). Purpl's smartphone paired sensors enable highly accurate testing in seconds, by any employee, with minimal capital expense or consumables.

Purpl Scientific

While HPLC is considered the gold standard in terms of accuracy, and is used in state-mandated testing, it requires significant capital outlays for equipment, expensive consumables, trained technicians, and significant amounts of time per test. Purpl's devices allow rapid testing for all points in between.

According to Dr. Deyaa AbuSalim , Green Thumb's National Director of Analytics and Chemistry Development, "working with Purpl has transformed the way we think about potency testing and opens up possibilities that we hadn't imagined."

Purpl plans to release tests by product type: first potency for distillate, winterized CO 2 oil, trim, and flower with more capabilities to follow. The new capabilities will allow testing of input stock (trim and flower), finished products, and intermediate steps. Supercritical CO 2 and Ethanol tests are already being validated, with White Papers to follow. Testing will not be limited to potency, but also winterization, decarboxylation and other metrics. Product demos will be available at MJBizCon in November, with initial product release to begin January 2023 .

About Purpl Scientific:

Purpl Scientific Inc. (Purpl) is an innovation company dedicated to the evolution of the cannabis industry. Our products reduce the mystery and guesswork of cannabis quality and chemical composition throughout the entire lifecycle, from cultivation to consumption. We are an advanced tech organization that prides itself on simplifying complexity. We pack a ton of new generation technologies into our hand-held applications that are exceedingly powerful, amazingly fast, extremely affordable, and controlled with the click of a button. More information is available at www.purplscientific.com .

About Green Thumb Industries:

Green Thumb Industries Inc. ("Green Thumb"), a national cannabis consumer packaged goods company and retailer, promotes well-being through the power of cannabis while giving back to the communities in which it serves. Green Thumb manufactures and distributes a portfolio of branded cannabis products and also owns and operates rapidly growing national retail cannabis stores called RISE. Headquartered in Chicago, Illinois , Green Thumb has 17 manufacturing facilities, 77 open retail locations and operations across 15 U.S. markets. More information is available at www.GTIgrows.com .

Green Thumb Industries

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/purpl-scientific-and-green-thumb-industries-partner-to-bring-rapid-nirs-testing-to-cannabis-oil-production-301640928.html

SOURCE Purpl Scientific

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Trulieve Announces October 2022 Event Participation

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced planned participation in upcoming conferences and events in October.

Trulieve logo (PRNewsfoto/Trulieve Cannabis Corp.)

  • Alliance Global Partners Virtual Consumer Cannabis Conference, October 4, 2022 : President Steve White will participate in a fireside chat and investor meetings.
  • Arcview Access Cannabis Investment Summit, October 20, 2022 : Founder and CEO Kim Rivers will participate in a panel discussion.

Information about our events, links to events where available, and slide presentations can be found at:
https://investors.trulieve.com/events-presentations

About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with established hubs in the Northeast, Southeast, and Southwest, anchored by leading market positions in Arizona, Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com .

Facebook: @Trulieve
Instagram: @Trulieve _
Twitter: @Trulieve

Investor Contact
Christine Hersey , Executive Director of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com

Media Contact
Rob Kremer , Executive Director of Corporate Communications
+1 (404) 218-3077
Robert.Kremer@Trulieve.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/trulieve-announces-october-2022-event-participation-301638626.html

SOURCE Trulieve Cannabis Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2022/03/c6205.html

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Green Thumb Industries Inc. (Green Thumb) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries today announced it will release third quarter financial results after the market closes on Wednesday, November 2, 2022.

A conference call and audio webcast will also be held on Wednesday, November 2, 2022, at 5:00 p.m. Eastern Time/4:00 p.m. Central Time to discuss the results and answer any questions.

News Provided by GlobeNewswire via QuoteMedia

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