Cresco Labs conditionally awarded Texas medical cannabis license

Cresco Labs (CRLBF) announced that it has been conditionally awarded a Texas Compassionate Use Program License. It is a vertically integrated license, allowing Cresco Labs to cultivate, process and dispense medical cannabis, the company stated. “Texas patients deserve access to consistent, quality medicine, and we’re excited to deliver it. Our track record in medical markets reflects our ability to build robust programs that put patients and communities first. Winning a license in Texas through a merit-based application points to Cresco Labs’s deep regulatory expertise and thoughtful approach to meaningful local engagement. Organic licensing enables capital-efficient market entry, and our cash generation and balance sheet give us the financial flexibility to invest and grow a scaled, long-term platform,” said Charlie Bachtell, CEO of Cresco Labs.