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Wednesday, January 19, 2022

Cresco Labs Inc (OTCQX:CRLBF) Rebrands Its Key Cannabis Dispensaries in New York

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Over the past year or so, Cresco Labs Inc (CSE:CL) (OTCQX:CRLBF) has emerged as one of the better-known cannabis companies operating in the United States, and this week, the company made an important announcement. Cresco owns a total of 4 dispensaries in New York, and today the company announced that all those establishments are going to come under the brand name Sunnyside.

Key Trigger

The four stores are located in Williamsburg, New Hartford, Bardonia, and Huntington Station. However, in addition to that rebranding initiative, the company also announced that it is going to introduce a home delivery service. That being said, the home delivery service is only going to be provided to customers who live near the New Hartford dispensary.

In the press release, Cresco revealed that customers need to use the Sunnyside website to place orders for home delivery. The minimum order value for home deliveries has been set at $80. Cresco added that it is aiming to introduce home delivery services for the other three stores as well. At this point in time, the state of New York only permits the purchase and sale of medical marijuana.

The company has made plenty of interesting moves in recent times, and earlier on in February, it made a key executive appointment.

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The company appointed Greg Butler, a veteran of the consumer goods industry, as its Chief Commercial Officer. The Chicago based cannabis company decided to scout the consumer goods industry to appoint its first COO.  The company also revealed that Butler is going to be responsible for not only the commercial strategy planning but also for boosting sales, leading the launch of new products and other strategies.

It is clearly a key position and one that could have a profound impact on the future of the company. Prior to taking up this position, Butler had been working as an operating officer at MNML Ventures, which is an affiliate of Cresco. Sign-up for continuing coverage on shares of $CRLBF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $CRLBF, either long or short, and we have not been compensated for this article.

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