Vertically integrated cannabis company Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) has signed a definitive agreement to acquire three operational Cure Penn dispensaries in Lancaster, Phoenixville and Philadelphia, PA.
Under the terms of the agreement, the Chicago-based company is purchasing 100% of the outstanding equity interests in Bay, LLC, which is doing business as Pennsylvania, for $90 million in cash and stock.
The transaction is expected to close in the fourth quarter of 2021, or once all required CSE and regulatory approvals are obtained.
What It Means For Cresco?
Charlie Bachtell, CEO and …