CHICAGO–(BUSINESS WIRE)–Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or “the Company”), one of the biggest vertically built-in multistate hashish operators within the United States, right this moment introduced that Ken Amann, who has been the Company’s Chief Financial Officer since 2015, is retiring efficient December 31, 2020. As half of a deliberate transition, the Company additionally appointed Dennis Olis to interchange Mr. Amann as Chief Financial Officer (“CFO”), efficient July 1, 2020. Mr. Olis joins Cresco Labs after beforehand serving as CFO for Allscripts Healthcare Solutions (NASDAQ: MDRX). Mr. Olis brings an intensive background in operations, monetary planning and evaluation, accounting, monetary reporting, tax, inner audit, treasury and mergers and acquisitions at Allscripts and beforehand at Motorola. Mr. Amann will stay in an advisory position by means of the rest of 2020 to make sure a easy transition of obligations.

Charlie Bachtell mentioned, “Ken was an early investor in Cresco, and one of the first employees, joining as CFO shortly after Cresco won the initial licenses in Illinois. I know I speak for the entire management team and board of directors when I thank Ken for his significant contribution in growing Cresco to this point. This is bittersweet for me and the Cresco family – it is sad to see Ken go but we wish Ken and his wife, Lisa, nothing but the best in this new phase of their lives. They will always be a part of this Cresco family.”

Mr. Bachtell added, “After a thorough search, I’m thrilled to welcome Dennis Olis as our new CFO. Dennis has an impeccable reputation and brings extensive financial, operational, and strategic management experience. His track record of superior capital allocation and experience managing billions of dollars in annual sales as the SVP of Operations and Strategic Initiatives and as CFO makes him the perfect fit as Cresco enters the next phase of growth.”

Ken Amann mentioned, “This experience at Cresco has been an amazing journey and certainly the highlight of my professional career. I would like to thank the board and management team as well as all of our loyal, long-term shareholders for their support over the past several years. I am confident the team will continue to build upon our leadership position in the U.S. cannabis space. I also know the Company is in great hands, Dennis is a proven, results-oriented CFO with experience in a variety of finance and operations roles at both Allscripts and Motorola.”

Mr. Olis has greater than 20 years of monetary and operational administration expertise. At Allscripts Healthcare Solutions, Olis was accountable for the corporate’s general monetary technique, together with price administration, capital allocation and steadiness sheet optimization. As CFO he led the $185 million acquisition of McKesson’s healthcare enterprise, rising income by $400 million and the combination effort resulting in EBITDA enchancment of $100 million inside 15 months of the acquisition. Previously, Olis held a spread of senior finance and operations positions at Motorola Inc.

About Cresco Labs:

Cresco Labs is one of the biggest vertically-integrated multi-state hashish operators within the United States. Cresco is constructed to turn out to be a very powerful firm within the hashish business by combining probably the most strategic geographic footprint with one of the main distribution platforms in North America. Employing a consumer-packaged items (“CPG”) method to hashish, Cresco’s home of manufacturers is designed to satisfy the wants of all shopper segments and contains some of probably the most acknowledged and trusted nationwide manufacturers together with Cresco, Remedi and Mindy’s, a line of edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside*, Cresco’s nationwide dispensary model, is a wellness-focused retailer designed to construct belief, schooling and comfort for each present and new hashish customers. Recognizing that the hashish business is poised to turn out to be one of the main job creators within the nation, Cresco has launched the business’s first nationwide complete Social Equity and Educational Development (SEED) initiative designed to make sure that all members of society have the talents, data and alternative to work in and personal companies within the hashish business. Learn extra about Cresco Labs at www.crescolabs.com.

Forward Looking Statements

This press launch comprises “forward-looking information” throughout the that means of relevant Canadian securities laws and might also include statements which will represent “forward-looking statements” throughout the that means of the secure harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking data and forward-looking statements should not consultant of historic info or data or present situation, however as an alternative symbolize solely the Company’s beliefs concerning future occasions, plans or goals, many of which, by their nature, are inherently unsure and exterior of the Company’s management. Generally, such forward-looking data or forward-looking statements will be recognized 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 destructive of these types or different comparable phrases. The Company’s forward-looking statements contain recognized and unknown dangers, uncertainties and different components which can trigger the Company’s precise outcomes, efficiency or achievements to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements, together with however not restricted to these dangers mentioned underneath “Risk Factors” within the firm’s CSE Listing Statement filed with SEDAR; and different components, many of that are past the management of the Company. Readers are cautioned that the foregoing checklist of components isn’t exhaustive. Because of these uncertainties, you shouldn’t place undue reliance on the Company’s forward-looking statements. No assurances are given as to the longer term buying and selling worth or buying and selling volumes of Cresco’s shares, nor as to the Company’s monetary efficiency in future monetary durations. The Company doesn’t intend to replace any of these components or to publicly announce the end result of any revisions to any of the Company’s forward-looking statements contained herein, whether or not as a end result of new data, any future occasion or in any other case. Except as in any other case indicated, this press launch speaks as of the date hereof. The distribution of this press launch doesn’t suggest that there was no change within the affairs of the Company after the date hereof or create any obligation or dedication to replace or complement any data supplied on this press launch or in any other case.

Contact

Media:
Jason Erkes, Cresco Labs
Chief Communications Officer
[email protected]

Investors:
Aaron Miles
Vice President, Investor Relations
[email protected]

For common Cresco Labs inquiries:
312-929-0993
[email protected]



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