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MarketScreener Homepage  >  Equities  >  CANADIAN NATIONAL STOCK EXCHANGE  >  Cresco Labs Inc.    CL   CA22587M1068

CRESCO LABS INC.

(CL)
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Cresco Labs :' Mindy's Edibles Ranks First for Cannabis Edible Sales in Nevada

02/05/2019 | 07:31am EST

Cresco Labs (CSE:CL) (“Cresco” or “the Company”), one of the largest vertically integrated multistate cannabis operators in the United States, is excited to announce that its Mindy’s Kitchen brand has been ranked the top selling edible in Nevada according to Headset, the first real-time data analytics and business intelligence platform for the cannabis industry. In partnership with Cresco Labs, James Beard Award-winning chef Mindy Segal created the industry’s first culinary-backed, cannabis-infused edibles, with a six-state distribution planned for 2019. In Nevada, Mindy’s Pink Lemonade Gummies, Strawberry Sparkling Wine Hard Sweets and Wild Cherry Gummies, ranked first, ninth and tenth, respectively, by Headset, for edible sales in the state.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190205005305/en/

Cresco Labs Mindy’s Kitchen gummies have been ranked the best-selling edible product in Nevada (Phot ...

Cresco Labs Mindy’s Kitchen gummies have been ranked the best-selling edible product in Nevada (Photo: Business Wire)

“We launched Mindy’s Edibles in Nevada in mid-August and, in less than six months, our products are now carried in 62 out of 67 dispensaries in the state,” said Cresco Labs CEO and co-founder Charles Bachtell. “Our proven ability to create brands that resonate with each consumer segment and establish a dominant retail market position is a key differentiator for Cresco Labs.”

Mindy’s Artisanal Edibles include a line of decadent chocolate brittle bars and homespun baked goods infused with clear distillate allowing the best ingredients to shine through. The Mindy’s Kitchen brand – a collaboration between Mindy and her talented group of chefs – offers fun, fruity confections for everyday enjoyability and effectiveness. The confections are infused with RSO and winterized sativa, indica and hybrid oil that complement the approachable flavors. Mindy’s Edibles are produced and distributed in partnership with Silver State Wellness in Nevada.

About Cresco Labs:

Cresco Labs, based in Chicago, is a leading U.S. cannabis company with experienced management, access to capital and a demonstrated growth strategy. As a differentiated grower, processor and retailer of premium cannabis operating in seven states, the company focuses on entering highly regulated markets with outsized demand potential and high barriers to entry. Its impressive speed-to-market gives Cresco a distinct competitive advantage as it replicates its model to expand its national footprint. Cresco’s proven ability to execute is complemented by a cutting-edge brand strategy spearheaded by several of the brightest minds in consumer marketing in the nation. Cresco’s products are tailored to all major consumer segments: everyday cannabis, medicinally focused, connoisseur grade, and chef inspired edibles by James Beard Award-winning pastry chef Mindy Segal. 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.


© Business Wire 2019
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Financials (USD)
Sales 2020 479 M - -
Net income 2020 -9,65 M - -
Net Debt 2020 101 M - -
P/E ratio 2020 -197x
Yield 2020 -
Capitalization 2 258 M 2 261 M -
EV / Sales 2020 4,93x
EV / Sales 2021 2,86x
Nbr of Employees 2 000
Free-Float 47,5%
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Consensus
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Mean consensus BUY
Number of Analysts 15
Average target price 16,56 CAD
Last Close Price 13,19 CAD
Spread / Highest target 51,6%
Spread / Average Target 25,5%
Spread / Lowest Target -5,23%
EPS Revisions
Managers
NameTitle
Charles Bachtell Chief Executive Officer & Director
Thomas Joseph Manning Executive Chairman
David Ellis Chief Operating Officer
Dennis M. Olis Chief Financial Officer
Mo Dastagir Chief Information Officer
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