Cresco Labs announced the launch of its newest cannabis brand to its growing portfolio of national cannabis brands, Good News.
Developed to take market share from alcohol, Good News is a mainstream, social occasion-based cannabis brand for today’s modern consumers
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 launch of its newest cannabis brand to its growing portfolio of national cannabis brands, Good News. With a unique and differentiated positioning from offerings in the market today, Good News embraces cannabis’ ability to address the responsibly fun and social occasions that are typically associated with alcohol consumption. The product line delivers a quality, safe and consistent cannabis experience through easy to use and benefit-forward forms, including pre-rolled shorties, disposable vape pens and gummy edibles focused on occasion and mood benefits.
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Cresco Labs announced the launch of Good News, the newest cannabis brand to its growing portfolio of national cannabis brands. (Photo: Business Wire)
“Our goal at Cresco Labs is to create a portfolio of brands that meets the unique needs and preferences of all types of cannabis consumers,” said Greg Butler, Chief Commercial Officer at Cresco Labs. “There are many social occasions that exist today where cannabis is currently not playing a major role and has historically not been marketed to socially-minded consumers like beer, wine and spirits have always been. With Good News, we’re focused on making cannabis part of the consideration, approachable and fun. Cannabis is increasingly becoming a part of our daily lives and playing a larger role during occasions where we want a little ‘me time’, to laugh and find ways to have a break during these difficult times. After a successful soft launch in Illinois and California, we’re excited to expand Good News availability to all of our operational states.”
Good News does not require a consumer to understand the complexity of terpenes and strains, and instead relies on formulations with specific, easy to understand mindsets and benefits. The product line includes pre-rolled shorties (3.5g total: seven, .5 gram joints), disposable vape pens (300mg per pen), and gummy edibles made with oil that retains the inherent effects that only cannabis can deliver (100mg total: ten, 10mg gummies per pack). Each product is sold in approachable packaging and crafted with consumers’ desired mood in mind — Me Time (Indica), Brunch (Hybrid), Friyay (Sativa) and Vegas (Sativa).
“Even in the time of COVID-19 when we are practicing social distancing and deprived of our typical social routines, consumers are still looking for an outlet for responsible fun. More than ever, we need a brand with optimism in its DNA that celebrates the togetherness we all miss,” said Cory Rothschild, SVP of Brand Marketing. “Good News is just that, while embodying the mindset of today’s modern recreational consumers. Many consumers do not want to understand the ins and outs of terpenes and strains to access the benefits of cannabis and enjoy more of life. That’s why we’ve segmented Good News products by occasion—Me Time, Brunch, Friyay and Vegas—to help recreational customers shop for forms by their benefit, taking the guesswork out of the retail experience.”
Good News is available in Illinois and California, with expansion to Cresco Labs’ seven other operational states coming soon.
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, Reserve, Good News 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 www.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.
Jason Erkes, Cresco Labs
Chief Communications Officer
Vice President, Investor Relations
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