Cresco's Stock Up On Acquisition Announcement Of Three Philly-Based Cure Penn Cannabis Dispensaries

Vertically integrated  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.

Deal Details

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 quarter of 2021, or once all required CSE and regulatory approvals are obtained.

What It Means For Cresco?

Charlie Bachtell, CEO and …

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