A summertime series of expungement events, employee volunteerism, documentary filmmaking, fundraising and more demonstrate the importance of commitment to reform and restorative justice to build an equitable, inclusive cannabis industry
Today, on the 50 th anniversary of when America started its longest war—the War on Drugs— Cresco Labs (CSE:CL) (OTCQX:CRLBF) ("Cresco" or "the Company"), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, announced the launch of a summer-long social justice campaign supported by its Sunnyside retail brand and flagship cannabis brand, Cresco . Through community expungement events, employee volunteerism, a film documenting the impact of unjust prosecution, and financial contributions from the Company and our third-party vendors, the "Summer of Social Justice" campaign aims to influence reform to help shape a future cannabis industry with limitless opportunities for everyone. The campaign will amplify the ongoing restorative justice, community business incubator and education and workforce development programming facilitated by the Company's established SEED (Social Equity & Education Development) initiative.
"On this 50 th anniversary of the War on Drugs, our country must take action to dismantle a system of over-policing and mass incarceration for cannabis offenses and continue cannabis reform efforts," said Charlie Bachtell, CEO and Co-founder, Cresco Labs. "An incredible future for cannabis is in our hands. The past few years have displayed an unprecedented level of public and political support for positive change in this area, yet tens of thousands of people are arrested on an annual basis—and the vast majority of those arrested have been, and continue to be from, BIPOC communities. Social equity and social justice must be fundamental components of this industry. Through the adoption of social equity-focused cannabis legislation, comprehensive justice system reform and industry leaders recognizing opportunities come with the responsibility of stewardship, this industry can reach its full potential. With our ‘Summer of Social Justice' campaign, we today affirm our commitment to using our platform and influence to build a future cannabis industry that is both inclusive and equitable as it continues to be the fastest growing industry in the country."
Now through September, the "Summer of Social Justice" campaign includes the following programs:
- Nationwide Expungement Events : Cresco Labs is partnering with community-based organizations to support expungement events through employee volunteerism and financial contributions in California, Arizona, New York, Michigan, Illinois, Pennsylvania, Massachusetts, Florida and Ohio. The Cresco cannabis brand is driving awareness of these events through marketing communications. Visit crescocannabis.com/expungement-events for an expungement event schedule.
- "The Sentence of Michael Thompson" Documentary : On Juneteenth, a trailer will debut for a new documentary short film about the story of Michigan's longest-serving non-violent offender. Granted clemency this past January, Thompson was serving a 60-year sentence in Muskegon Correctional Facility in Michigan for selling 3 pounds of cannabis to a police informant in 1994. The documentary will be released this fall. The trailer is launching with a microsite sharing ways companies and people can help release the 40,000 people currently in prison for cannabis convictions. To learn more, visit crescocannabis.com/michaelthompson .
- Fundraising & Petition Drives : A portion of proceeds from the wholesale of Cresco branded products throughout the summer will go towards the Cannabis Justice Initiative , a component of the Return to Freedom Project of the National Association of Criminal Defense Lawyers ("NACDL"). The NADCL was created to facilitate clemency, compassionate release, expungement and reform for those impacted by the drug war. In addition, Cresco Labs is encouraging its third-party vendor partners to support this campaign through financial contributions that will go towards expungement. Sunnyside will have in store donations and a petition drive in partnership with Last Prisoner Project at stores across the country.
About Cresco Labs Inc.
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 national brands including Cresco, High Supply, Mindy's Edibles, Good News, Remedi, Wonder Wellness Co. and FloraCal Farms. 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 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 Annual Information Form for the year ended December 31, 2020 filed on March 26, 2021, 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 Labs' 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
Jake Graves, Cresco Labs
Manager, Investor Relations
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