Market News

Bolsters Company's Presence in Three Key Growth Markets of Arizona , Nevada and Utah

Expands Curaleaf's Operations to 29 Cultivation Sites and 144 Dispensaries Nationwide

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading international provider of consumer products in cannabis, today announced the completion of its previously announced acquisition of Tryke Companies ("Tryke") (dba as Reef Dispensaries), a privately held vertically integrated, multi-state cannabis operator. With the close of the transaction, Curaleaf's national footprint has reached 29 cultivation sites and 144 dispensaries nationwide.

Boris Jordan , Founder and Executive Chairman of Curaleaf, stated, "We are pleased to welcome Tryke to the Curaleaf family as we expand our operations and bolster our competitive position in three key growth markets. This strategic transaction expands our U.S. presence and yields meaningful benefits for all of our stakeholders. The acquisition is immediately accretive to our EBITDA margins and free cash flow generation."

Matt Darin , CEO of Curaleaf, said, "As we continue to unite the strength of our brands, products and cultivation channels to lead the industry, we're excited to join forces with Tryke to deliver additional value for our customers and retailers in Arizona , Nevada and Utah . This deal represents a significant opportunity with strong long-term growth potential, and we are now strategically positioned us to accelerate our growth in the West."

Tryke Companies Highlights:

  • Four retail dispensaries in Las Vegas , Sparks , and Sun Valley, Nevada ; two retail dispensaries in Phoenix, Arizona .
  • Expansive product offering including a wide variety of in-house and third-party flower, concentrates, vape cartridges, edibles, topicals and CBD products.
  • Extensive portfolio of processing licenses with 30,000 square feet of cultivation; capacity to expand to 80,000 square feet over the next three years.

Transaction Details:

The transaction consideration includes an initial payment at closing of US$10 million in cash and 2.7 million shares, and additional cash and shares consideration of US$75 million and 16.5 million Subordinate Voting Shares, to be paid in three installments on the first, second and third anniversaries of the closing, for a total consideration of US$181 million . Contingent consideration of up to 1 million Subordinate Voting Shares may be paid in 2023 based on the business exceeding certain EBITDA targets for the year 2022.

About Curaleaf Holdings

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf") is a leading international provider of consumer products in cannabis with a mission to improve lives by providing clarity around cannabis and confidence around consumption. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf, Select, and Grassroots provide industry-leading service, product selection and accessibility across the medical and adult-use markets. In the United States , Curaleaf currently operates in 21 states with 144 dispensaries, 29 cultivation sites, and employs over 6,000 team members. Curaleaf International is the largest vertically integrated cannabis company in Europe with a unique supply and distribution network throughout the European market, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information, please visit https://ir.curaleaf.com .

FORWARD-LOOKING STATEMENTS

This media advisory contains forward–looking statements and forward–looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward–looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as "plans", "expects" or, "proposed", "is expected", "intends", "anticipates", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward–looking statements and information concerning the acquisition of Tryke Companies. Such forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest annual information form filed March 9, 2022 , which is available under the Company's SEDAR profile at http://www.sedar.com , and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

INVESTOR CONTACT
Curaleaf Holdings, Inc.
Camilo Lyon , Chief Investment Officer
IR@curaleaf.com

MEDIA CONTACT
Curaleaf Holdings, Inc.
Tracy Brady , SVP Corporate Communications
media@curaleaf.com

Cision View original content: https://www.prnewswire.com/news-releases/curaleaf-completes-acquisition-of-tryke-companies-301641171.html

SOURCE Curaleaf Holdings, Inc.

News Provided by PR Newswire via QuoteMedia

CURA:CNX,CURLF

TerrAscend and Cookies Celebrate the Grand Opening of Cookies Jackson

TerrAscend's Gage Cannabis Opens Fourth Cookies Dispensary in Michigan

TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced that its subsidiary, Gage Cannabis Co. ("Gage"), opened a new flagship cannabis provisioning center in Jackson, Michigan . Located at 118 N Columbus Street, the dispensary will be operated by Gage through a partnership with Cookies, the leading lifestyle and cannabis brand in North America .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Trulieve Opening Medical Marijuana Dispensary in Hobe Sound, Florida

New dispensary expands patient access to medical cannabis; grand opening specials available

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States today announced the opening of a new medical dispensary in Hobe Sound, Florida . Located at 10835 SE Federal Hwy., the doors will open at 9 a.m. on December 2 with ongoing regular hours of 9 a.m. to 9 p.m. from Monday through Saturday and 10 a.m. to 8 p.m. on Sunday .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

TerrAscend Appoints Seasoned Finance Professional, Ira Duarte, to Board of Directors

TerrAscend Corp. ("TerrAscend'' or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced the appointment of Ira Duarte to its Board of Directors, effective immediately. In addition, Ms. Duarte will serve as the Chair of the Audit Committee of the Board of Directors.

Ms. Duarte is an accomplished senior finance professional with more than 25 years of experience in a variety of finance, accounting and auditing leadership roles. She currently serves as Chief Financial Officer of Veloxis Pharmaceuticals, Inc. ("Veloxis"), a fully integrated specialty pharmaceutical company focused on the global development and commercialization of medications utilized by organ transplant patients. Prior to joining Veloxis, Ms. Duarte served as Senior Director of Corporate Finance for Chiesi USA , Inc. and Director of Accounting and Financial Planning for Cornerstone Therapeutics, Inc., where she was a core member of the team that guided the sale of Cornerstone Therapeutics, Inc. to Chiesi Farmaceutici S.p.A. Ms. Duarte previously held various roles from Staff to Senior Manager at Ernst & Young Global Limited, where she was responsible for managing audits, Securities Exchange Commission filings, and initial public offerings services for clients. A Certified Public Accountant, Ms. Duarte holds a BS in Accounting from Florida Atlantic University .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Curaleaf Announces December Investor Community Conference and Event Participation

Curaleaf Holdings, Inc. (CSE: CURA OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading international provider of consumer products in cannabis, today announced that members of Curaleaf's executive management team will be participating in the following investor community conferences and events during December 2022 .

  • Cowen's 5 th Annual Cannabis Conference
    December 6, 2022
    Matt Darin , Chief Executive Officer of Curaleaf, will be participating in a fireside chat with Vivien Azer , Managing Director at Cowen, on December 6 at 1:20 – 1:50 p.m. ET .
    Curaleaf management will also be hosting investor meetings.

  • Stifel Canada's 3 rd Annual Future of Healthcare Conference
    December 7, 2022
    Matt Darin , Chief Executive Officer of Curaleaf, will be participating in a lunch panel with Andrew Partheniou , Vice President at Stifel, on December 7 at 12 – 12:55 p.m. ET .

For more information regarding upcoming Curaleaf financial community conference and event participation as well as details to access the webcasts please visit Curaleaf's IR website at https://ir.curaleaf.com/events .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Trulieve Announces December 2022 Event Participation

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced planned participation in upcoming conferences and events in December.

Trulieve logo (PRNewsfoto/Trulieve Cannabis Corp.)

  • Cowen 5 th Annual Cannabis Conference, December 6, 2022 : Founder and CEO Kim Rivers will participate in a panel discussion and investor meetings.
  • Stifel 3 rd Annual Future of Healthcare Conference, December 7, 2022 : President Steve White will participate in a panel discussion.
  • Arcview Access Cannabis Investment Summit, December 8, 2022 : Founder and CEO Kim Rivers will participate in a panel discussion.

Information about our events, links to events where available, and slide presentations can be found at: https://investors.trulieve.com/events-presentations

About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with established hubs in the Northeast, Southeast, and Southwest, anchored by leading market positions in Arizona, Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com .

Facebook: @Trulieve
Instagram: @Trulieve _
Twitter: @Trulieve

Investor Contact
Christine Hersey , Executive Director of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com

Media Contact
Rob Kremer , Executive Director of Corporate Communications
+1 (404) 218-3077
Robert.Kremer@Trulieve.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/trulieve-announces-december-2022-event-participation-301690946.html

SOURCE Trulieve Cannabis Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2022/01/c9826.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

TerrAscend Reduces Outstanding Debt by US$30 Million

Elects to pay down $30 million of its maturing $55 million senior secured Michigan loan, refinancing the remaining $25 million

TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a North American cannabis operator, today announced that its subsidiary, WDB Holding MI, Inc. (DE), and all subsidiaries of TerrAscend (collectively, the "Borrowers"), refinanced the existing senior secured term loan of $55.0 million previously announced on November 22, 2021 (the "Michigan Loan"), pursuant to an amendment (the "Amendment"). The Amendment provides for a senior secured term loan with a principal amount of $25.0 million plus incremental term loans of $30.0 million at the option of TerrAscend and subject to consents from the required lenders for an aggregate amount of $55.0 million . On November 29, 2022 the Borrowers repaid $55.0 million outstanding principal amount under the original Michigan Loan, using $30.0 million of cash on hand and $25.0 million through borrowing pursuant to the Amendment. Chicago Atlantic Admin, LLC serves as administrative agent for the lenders under the Michigan Loan and as collateral agent for the secured parties thereto.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×