WAKEFIELD, Mass., October 8, 2020 / PRNewswire / – Curaleaf Holdings, Inc. (CSE: ARUC / OTCQX: CURLF) (“Curaleaf” or the “Company”), a major cannabis operator vertically integrated into United States, today announced that the Massachusetts Cannabis Control Commission (CCC) has approved the company’s previously announced acquisition of Alternative Therapies Group (“ATG”).
Joseph Lusardi, CEO of Curaleaf, said: “We appreciate the work of the Commission and are pleased to have obtained final regulatory approval for our acquisition of ATG Amesbury licenses and cultivation and manufacturing facilities, paving the way for a successful transaction, and we thank the Commission. Going forward, the integration of ATG’s cultivation and processing facilities will increase our cannabis cultivation capacity by Massachusetts by 60%, which allows us to better meet the growing demand that we continue to see among medical and adult customers, as well as to expand Curaleaf’s presence in the wholesale market. Overall, these enhanced production capabilities will provide a powerful engine of growth for our business in 2021 and beyond as new crops come online. “
In August 2018, Curaleaf entered into an agreement to acquire ATG’s 53,600 square foot growing and processing facilities in Amesbury, Massachusetts. As part of the acquisition, the ATG dispensaries located in Amesbury, Salisbury and Salem will be split and continue to operate under the ATG brand and will be supplied by Curaleaf. The closing of the ATG transaction is expected to be finalized in the coming days.
Curaleaf is vertically integrated into Massachusetts, including licensed cultivation and manufacturing facilities as well as the operation of four dispensaries. The Society’s dispensary footprint includes two adult-only locations in Provincetown and Articles, a medical and adult dispensary co-located in Oxford, as well as a medical dispensary in Hanover. In July 2020, Curaleaf announced the continued expansion of its Select brand offerings into new markets, including Massachusetts, with the launches of its Select Elite and Select Nano Gummies. Select, the # 1 cannabis oil brand in the United States, is a nationally trusted brand that upholds industry standard best practices for quality control to ensure overall effectiveness. and the best possible product experience. As a recognized industry leader, Select has grown in popularity in the medical and adult use markets and is now available in 14 states and is on its way to becoming the number one nationally recognized consumer cannabis brand.
About Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf”) is a leading vertically integrated US multi-state cannabis operator with a mission to improve lives by providing clarity on the cannabis and trust around consumption. As a high growth cannabis company known for its quality, expertise and reliability, the company and its brands, including Curaleaf and Select, provide industry leading service, product selection and accessibility in the markets. medical and adult use. Curaleaf currently operates in 23 states with 93 dispensaries, 22 culture sites and more than 30 processing sites, and employs more than 3,000 team members across United States. Curaleaf is listed on the Canadian Stock Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information, please visit www.curaleaf.com.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, included in this document are forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terms such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budgets”. , “Foreseen”, “considers”, “foresees”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions, or by the use of words or phrases indicating that certain actions, or results can, could, would or could occur or be achieved. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Curaleaf’s current beliefs and is based on information currently available to Curaleaf and on assumptions Curaleaf believes are reasonable. These assumptions include, without limitation, the expected benefits to Curaleaf from the transaction described above. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Curaleaf’s actual results, level of activity, performance or achievements to differ materially from those expressed or under – understood by this forward-looking information. These risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; Curaleaf’s failure to complete the transaction described above; Curaleaf’s ability to successfully integrate ATG’s activities and their respective corporate cultures; delay or failure to receive regulatory approvals; the actual results of future operations; competition; changes in legislation affecting Curaleaf; the timing and availability of external financing on acceptable terms; and the lack of skilled and skilled labor or the loss of key individuals and other factors identified in Curaleaf’s MD&A on the financial condition and results of operations for the year ended. December 31, 2019 and its other public documents filed with the Canadian Securities Exchange. Although Curaleaf has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results to not be as anticipated, estimated or expected. . Readers are cautioned that the above list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which it is based will be realized. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. The forward-looking information contained in this press release represents Curaleaf’s expectations as of the date of this press release and, therefore, is subject to change after this date. However, Curaleaf expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
Curaleaf Holdings, Inc.
Dan Foley, Vice-President, Finance and Investor Relations
Curaleaf Holdings, Inc.
Tracy brady, Vice President of Corporate Communications
SOURCE Curaleaf Holdings, Inc.