Cresco CEO still believes federal reform is possible
Cresco Labs CEO Optimistic About Federal Marijuana Reform Despite Delays, Anticipates Positive Progress in DC.
During the Chicago-based company’s most recent earnings call, Cresco Labs CEO Charles Bachtell strongly implied that he believes federal marijuana reform is still on the horizon, despite the lack of progress to date on bills such as the SAFE Banking Act.
He’s also not worried about potential disruption or added regulations if marijuana is federally rescheduled.
“I’ve spent a lot of time in D.C. this year,” Bachtell said. “There are a lot of constructive conversations happening, and the right leaders are actively engaged around SAFE and the rescheduling of cannabis. There are solid indicators that progress is being made.”
Bachtell also shared that one of the issues being negotiated with members of Congress is a “safe harbor” provision for the most recent SAFE Banking Act, which would allow U.S. cannabis companies to potentially uplist to U.S. stock exchanges from the pink sheets.
