Despite the new lawsuit filed against New York for its handling of the adult-use cannabis rollout, Charles Bachtell remains optimistic about the state market’s potential and his company’s pending megadeal to acquire New York-based Columbia Care (OTCQX: CCHWF).
The CEO of Chicago-based Cresco Labs (OTCQX: CRLBF) discussed the company’s $2 billion all-stock agreement and the outlook for the New York market during the company’s fourth-quarter earnings call on Thursday.
Bachtell said he believes that a plan is in place for the market to succeed, but legislative action is necessary to ensure viable opportunities for licensees.
And the onus is on licensees to work alongside regulators to establish an effective framework, he added.
Read more at Green Market Report.
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