Curaleaf Receives Unanimous Approval for the Acquisition of Alternative Therapies Group from the Massachusetts Cannabis Control Commission

Curaleaf Holdings, Inc. (CSE: CURA OTCQX: CURLF) ("Curaleaf" or the "Company") a leading vertically integrated cannabis operator in the United States today announced the Massachusetts Cannabis Control Commission (CCC) has approved the Company's previously announced acquisition of Alternative Therapies Group ("ATG").

Joseph Lusardi , Chief Executive Officer of Curaleaf, said, "We appreciate the work of the Commission, and we are pleased to have secured the final regulatory approval for our acquisition of ATG's Amesbury cultivation and manufacturing licenses and facility, paving the way for a successful completion of the transaction, and we thank the Commission. As we look ahead, the integration of ATG's cultivation and processing facility will expand our cannabis grow capacity in Massachusetts by 60%, allowing us to better address the rising demand we continue to see among medical and adult-use customers as well as expand Curaleaf's wholesale market presence. Overall, these enhanced production capabilities will provide a powerful growth engine for our business in 2021 and beyond as new harvests come online."

In August of 2018, Curaleaf entered into an agreement to acquire ATG's 53,600 square foot cultivation and processing facility in Amesbury, Massachusetts . In connection with the acquisition, ATG's dispensaries located in Amesbury , Salisbury and Salem will be spun off and continue to operate under the ATG brand and will be supplied by Curaleaf. Closing of the ATG transaction is expected to be completed in the coming days.

Curaleaf is vertically integrated in Massachusetts , including licensed cultivation and manufacturing facilities as well as operating four dispensary locations. The Company dispensary footprint includes two adult-use locations in Provincetown and Ware , a co-located medical and adult-use dispensary in Oxford , as well as a medical dispensary in Hanover . In July of 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, America's #1 Cannabis Oil Brand, is a nationally trusted brand that maintains peak industry-standard practices for quality control to ensure the overall efficacy and the best product experience possible. As a recognized industry leader, Select has gained popularity in medical as well as adult-use markets and is now available in 14 states and is on track to become the first nationally recognized consumer cannabis brand.

About Curaleaf Holdings, Inc.

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf") is a leading vertically integrated U.S. multi-state cannabis operator 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 and Select, provide industry-leading service, product selection and accessibility across the medical and adult-use markets. Curaleaf currently operates in 23 states with 93 dispensaries, 22 cultivation sites and over 30 processing sites, and employs over 3,000 team members across the United States . 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 www.curaleaf.com .

FORWARD LOOKING STATEMENT

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", 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. 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 the current beliefs of Curaleaf and is based on information currently available to Curaleaf and on assumptions that Curaleaf believes are reasonable. These assumptions include, but are not limited to, the anticipated benefits to Curaleaf of the transaction described above. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Curaleaf to be materially different from those expressed or implied by such forward-looking information. Such 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; the failure of Curaleaf to complete the transaction described above; the ability of Curaleaf to successfully integrate the business of ATG 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 lack of qualified, skilled labor or loss of key individuals and the other factors identified in Curaleaf's Management's Discussion and Analysis of Financial Condition and Results of Operations for the Year Ended December 31, 2019 and its other public filings 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, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing 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 they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Curaleaf as of the date of this news release and, accordingly, is subject to change after such 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.

INVESTOR CONTACT
Curaleaf Holdings, Inc.
Dan Foley , VP, Finance and Investor Relations
IR@curaleaf.com

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

Cision View original content: https://www.prnewswire.com/news-releases/curaleaf-receives-unanimous-approval-for-the-acquisition-of-alternative-therapies-group-from-the-massachusetts-cannabis-control-commission-301148907.html

SOURCE Curaleaf Holdings, Inc.

News Provided by Canada Newswire via QuoteMedia

The Conversation (0)

Trulieve to Open Medical Cannabis Dispensary in Cocoa Beach, Florida

New Brevard County location will host grand opening celebration Friday, April 5 th

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced the opening of a new medical cannabis dispensary in Cocoa Beach, Florida .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Goodness Growth Holdings Reschedules Fourth Quarter and Full Year 2023 Results Call to April 1, 2024

Goodness Growth Holdings, Inc. ("Goodness Growth" or the "Company") (CSE: GDNS; OTCQX: GDNSF), a cannabis company committed to providing safe access, quality products and great value to its customers, today announced that, due to scheduling conflicts, it has rescheduled its fourth quarter and full year results conference call for the year ended December 31, 2023 to Monday, April 1, 2024 after the market closes.

Goodness Growth management will host a conference call with the investment community that day, Monday, April 1, 2024 at 4:30 p.m. ET (3:30 p.m. CT) to discuss its results. Interested parties may attend the conference call by dialing 1-800-715-9871 (Toll-Free) (US and Canada) or 1-646-307-1963 (Toll) (International) and referencing conference ID number 3718174.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Cronos Launches Lord Jones® Chocolate Fusions

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos" or the "Company"), an innovative global cannabinoid company, announced today the launch of Lord Jones® Chocolate Fusions, its exciting first entry into the chocolate edibles category. Cronos' newest edible innovation was developed and designed by an expert team of culinary chefs, food scientists, and leaders in cannabis product development. The bite-sized Chocolate Fusions™ feature a dynamic, multi-texture experience, combining a soft and chewy center, crunch inclusions, and an outer layer of rich creamy chocolate that delivers a decadent sweet treat for adult cannabis consumers.

"We are thrilled to bolster the recent successful launch of the Lord Jones® brand in Canada with our first chocolate edibles," said Jeff Jacobson, Chief Growth Officer, Cronos. "These hand-crafted and artfully created chocolates demonstrate our passion for delivering a differentiated experience through an innovative cannabis product that our consumers will love. This breakthrough innovation is the result of our continuous commitment to and investment in R&D and product development, and we're excited to add Chocolate Fusions™ to our growing family of premium and THC-focused Lord Jones® products in Canada, which are designed to take adult consumers above and beyond."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
canadian finance minister chrystia freeland

Cannabis Round-Up: Canadian Finance Minister Knew About Industry's "Financial Distress"

US Vice President Kamala Harris met with recipients of President Joe Biden's Pardon for the Offense of Simple Possession of Marijuana as part of the Democrats' cross-country campaign trail. She urged the Drug Enforcement Administration (DEA) to release its findings on rescheduling cannabis "as quickly as possible."

Meanwhile, as Massachusetts pushes for broader cannabis clemency, Hawaii has passed an amended expungement bill that will institute a pilot program instead of automatic expungements for low-level cannabis convictions.

Stay up to date on the latest news, trends and policy developments in the cannabis industry with our round-up below.

Keep reading...Show less

Goodness Growth Holdings to Release Fourth Quarter and Full Year 2023 Results on March 28, 2024

Goodness Growth Holdings, Inc. ("Goodness Growth" or the "Company") (CSE: GDNS; OTCQX: GDNSF), a cannabis company committed to providing safe access, quality products and great value to its customers, today announced that it will release its financial results for its fourth quarter and full year ended December 31, 2023 on Thursday, March 28, 2024 after the market closes.

Goodness Growth management will host a conference call with the investment community that same day, Thursday, March 28, 2024 at 4:30 p.m. ET (3:30 p.m. CT) to discuss its results. Interested parties may attend the conference call by dialing 1-800-715-9871 (Toll-Free) (US and Canada) or 1-646-307-1963 (Toll) (International) and referencing conference ID number 3718174.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Cronos Group Inc. to Speak at the 36th Annual Roth Conference

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos" or the "Company"), an innovative global cannabinoid company, today announced that Mike Gorenstein, Chairman, President and CEO, will speak at the 36 th Annual Roth Conference on Monday, March 18, 2024, at 8:30AM PT.

A live webcast will be available on the Investors section of the Company's website at https://ir.thecronosgroup.com/events-presentations .

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×