Cresco Labs (CSE:CL), has received change in ownership approval from the Massachusetts Cannabis Control Commission, and has thus finalized the acquisition of Hope Heal Health Inc.
Currently, Hope Heal Health owns a facility and dispensary in Fall River Massachusetts, and is fully functioning as a cannabis cultivator and manufacturer. The company also holds several state licenses, including a retail license, manufacturing license, as well as a cultivation license. Hope Heal Health also has the ability to procure two additional retail licenses in Massachusetts
In addition, Hope Heal Health has also recently been granted a recreational cannabis license for its dispensary, meaning that following the acquisition, the company can still sell cannabis to medical-use patients, but will also be catering to adult-use customers through Cresco’s several cannabis brands.
Now that the acquisition is complete, Cresco plans to distribute its branded products in the Massachusetts adult-use cannabis market. The company owns several brands, including Remedi, Cresco, and Mindy’s Edibles.
Cresco Labs is a United States based cannabis operator, and is currently trading at $7.31 on the CSE.
Information for this briefing was found via Sedar and Cresco Labs. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.