Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. CANADIAN NATIONAL STOCK EXCHANGE
  5. Curaleaf Holdings, Inc.
  6. News
  7. Summary
    CURA   CA23126M1023

CURALEAF HOLDINGS, INC.

(CURA)
  Report
Delayed Quote. Delayed CANADIAN NATIONAL STOCK EXCHANGE - 07/30 03:59:58 pm
14.97 CAD   -1.51%
07/23UPDATE : Curaleaf Loses 2% as Opens New Store in Wells, Maine
MT
07/23CURALEAF : Opens Branded Store in Wells, Maine
MT
07/23CURALEAF : Opens New Store in Wells, Maine
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Curaleaf : to Acquire Colorado-based Los Suenos

05/18/2021 | 09:41am EDT

WAKEFIELD, Mass. - Curaleaf Holdings, Inc. (CSE: CURA /OTCQX: CURLF) ('Curaleaf' or the 'Company'), a leading international provider of consumer products in cannabis, signed definitive documents to acquire the Los Suenos Farms and its related entities ('Los Suenos'), the largest outdoor grow in Colorado. This will significantly expand Curaleaf's Colorado presence, vertically integrating in the state with large-scale outdoor cannabis cultivation. The proposed transaction includes three Pueblo, Colorado outdoor cannabis grow facilities covering 66 acres of cultivation capacity, including land, equipment and licensed operating entities, an 1,800 plant indoor grow and two retail cannabis dispensary locations serving adult use customers.

Total base consideration for the proposed acquisition is approximately $49 million for the Los Suenos operating companies and $18 million for the real estate and farm assets. Total consideration of $67 million to be paid 61% in Curaleaf subordinate voting shares, 29% in cash at closing, and 10% in assumed debt maturing in five years. Additional contingent consideration of up to $8 million in stock will be paid based upon operating cash flow-based targets for 2022.

Boris Jordan, Executive Chairman of Curaleaf, stated, 'The acquisition of Los Suenos provides Curaleaf with outdoor cannabis cultivation expertise at commercial scale and establishes our foothold in the $2.2 billion Colorado market. This deal furthers our strategy of constructing low-cost supply chains that will secure healthy margins and position us for interstate commerce when it comes. Ultimately, our goal is to cultivate cannabis at less than $100 per pound, and this acquisition is a significant step in the right direction.'

Today's announcement complements Curaleaf's existing Colorado presence through its Select brand. Select is known as America's #1 cannabis oil brand, with a variety of best-in-class cannabis products distributed to nearly 2,000 locations across 18 states.

Joseph Bayern, CEO of Curaleaf, commented, 'The acquisition of Los Suenos will add over 50,000 pounds per year of low-cost wholesale capacity to Curaleaf's footprint in Colorado, which we intend to double to over 100,000 pounds, representing a significant market share. As the largest producer of biomass in the state, this facility will also fuel the further deployment of our Select product line, which can already be found in 230 independent dispensaries in the state.'

The proposed transaction has been unanimously approved by the Curaleaf board of directors and is expected to close upon regulatory approvals.

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 and Select, provide industry-leading service, product selection and accessibility across the medical and adult-use markets. In the United States, Curaleaf currently operates in 23 states with 106 dispensaries, 23 cultivation sites and over 30 processing sites, and employs over 4,800 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 press release 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 proposed acquisition of Los Suenos Farms and its related entities. 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?April 28, 2021, which is available under the Company's SEDAR profile at?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.

Contact:

Investor

Curaleaf Holdings, Inc.

Carlos Madrazo

SVP Head of IR & Capital Markets

E: IR@curaleaf.com

Media

Curaleaf Holdings, Inc.

Tracy Brady

VP Corporate Communications

E: Media@curaleaf.com

(C) 2021 Electronic News Publishing, source ENP Newswire

All news about CURALEAF HOLDINGS, INC.
07/23UPDATE : Curaleaf Loses 2% as Opens New Store in Wells, Maine
MT
07/23CURALEAF : Opens Branded Store in Wells, Maine
MT
07/23CURALEAF : Opens New Store in Wells, Maine
MT
07/23Curaleaf Holdings Announces Opening of Branded Store in Wells, Maine
CI
07/12CURALEAF : Names New CFO
MT
07/12Curaleaf Holdings, Inc. Appoints Ranjan Kalia as Chief Financial Officer, Eff..
CI
07/06AGRIFY : Partners With Curaleaf for Vertical Farming Research Partnership
MT
07/06Agrify Enters into Multi-Year Vertical Farming Research and Development Partn..
CI
06/29CURALEAF : International Unit Reaches Deal to Offer Medical Cannabis Products in..
MT
06/24CURALEAF : Up 3.7% As Expands Presence in New Jersey with New Dispensary and Cul..
MT
More news
Financials (USD)
Sales 2021 1 295 M - -
Net income 2021 31,4 M - -
Net cash 2021 114 M - -
P/E ratio 2021 236x
Yield 2021 -
Capitalization 8 443 M 8 434 M -
EV / Sales 2021 6,43x
EV / Sales 2022 4,26x
Nbr of Employees -
Free-Float 58,0%
Chart CURALEAF HOLDINGS, INC.
Duration : Period :
Curaleaf Holdings, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CURALEAF HOLDINGS, INC.
Short TermMid-TermLong Term
TrendsBearishBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 17
Last Close Price 12,00 $
Average target price 22,16 $
Spread / Average Target 84,8%
EPS Revisions
Managers and Directors
Joseph Bayern President & Chief Executive Officer
Anuranjan Krishnan Kalia Chief Financial Officer
Boris A. Jordan Executive Chairman
Robert Winnicki Senior VP-Research & Product Development
Neil P. Davidson Chief Operating Officer
Sector and Competitors