Cresco Labs Inc. is entering the Florida market through the signing of a letter agreement to acquire the ownership interests or assets of VidaCann Ltd. and/or affiliated entities, one of the largest and most advanced providers of medical cannabis in Florida.
"The Vertically Integrated Florida License provides Cresco Labs a Medical Marijuana Treatment Center license to grow, process, manufacture, distribute and dispense the Company’s house of branded products in up to, currently, 30 retail medical dispensaries in the state of Florida.", the company explains.
In addition to that, the company will benefit from "A fully-operational, greenhouse cultivation facility with a cGMP-certified processing and analytical lab, which meet all FDA requirements. Fully operational 70,000 ft2 cultivation and processing facility is scheduled to double in size by the end of 2019 and will allow Cresco Labs to grow and manufacture its full suite of branded products for distribution across the state."
"The greenhouse maintains more than 30 premium strains and VidaCann is the only Florida cannabis company using custom-made Italian extractors that can process over 400 pounds a day.", the company concludes.