Charles Bachtell Announces Holdings in Cresco Labs Inc.

CHICAGO, June 3, 2021 /CNW/ - Charles Bachtell announced today that, as previously agreed by Cresco Labs Inc. (the "Company") and Joseph Caltabiano, Mr. Caltabiano has transferred to Mr. Bachtell the 100,000 Super Voting Shares (the "Acquired Shares") of the Company held by Mr. Caltabiano (the "Transfer").

After giving effect to the Transfer, Mr. Bachtell owns or controls, directly or directly, (a) 40% of the outstanding Super-Voting Shares and (b) voting securities of the Company representing approximately 31.7% of the votes attaching to all classes of outstanding shares of the Company.

Subject to the receipt of applicable shareholder and third party approvals, Mr. Bachtell currently intends to transfer the Acquired Shares to another member(s) of the Company's Board of Directors in order to more evenly distribute the voting power represented by the Super Voting Shares.

This news release is being disseminated as required by National Instrument 62-103 - The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the anticipated filing of an early warning report by Mr. Bachtell (the "Early Warning Report"). A copy of the Early Warning Report will be available on SEDAR under the Company's profile at www.sedar.com and can also be obtained by contacting Jason Erkes, Chief Communications Officer of the Company, at [email protected].  Please refer to the Early Warning Report for further details concerning Mr. Bachtell's shareholdings in the Company. 

SOURCE Charles Bachtell

Media: Jason Erkes, Cresco Labs, Chief Communications Officer, [email protected]; Investors: Jake Graves, Cresco Labs, Manager, Investor Relations, [email protected]; For general Cresco Labs inquiries: 312-929-0993, [email protected]