Choice Consolidation Corp. is a newly organized special purpose acquisition corporation (“SPAC”) for the purpose of effecting, directly or indirectly, an acquisition of one or more businesses or assets. We intend to continue our search for target businesses with a focus on cannabis cultivation, production distribution, brands, manufacturing and/or retailing businesses or related businesses; however, we are not limited to a particular industry or geographic region for the purposes of completing our qualifying transaction.
Various categories of licenses are available to be acquired on accretive terms and acquiring these assets across categories will allow for integration that will likely improve margins and profitability. In addition, this fragmented, state-by-state licensing approach has resulted in significant white space and many small operators that may be good candidates for acquisition.
Joe Caltabiano, our Chief Executive Officer and director, co-founded Cresco Labs, one of the largest vertically integrated multi-state operators in the United States and served as its President until March 2020. During his tenure, he oversaw and grew Cresco Labs from a start-up to a multi-billion dollar company with annualized revenue of over $250 million and operations in nine key states. While at Cresco Labs, Joe also oversaw the completion of fourteen acquisitions in nine states over a span of twenty-four months.