The Massachusetts State Cannabis Control Commission Approves 3 Final Adult-Use Licenses and 2 Provisional Adult-Use Licenses
WAKEFIELD, Mass., Sept. 13, 2019 /PRNewswire/ -- Today Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading vertically integrated cannabis operator in the United States, was granted approval for its three final and two provisional adult-use licenses by the Massachusetts Cannabis Control Commission. Following today's approval of all five licenses, the next step in the process is to schedule Post Final inspections for the three final licenses, which will then be followed by Commence Operation inspections. The process is expected to be completed in the coming months.
"We appreciate the work of the Cannabis Control Commission and the Commission staff and will continue to work collaboratively with them to move forward in securing approval on our final inspections," said Joseph Lusardi, CEO of Curaleaf. "We have been proudly serving this community for two years as a medical company and are excited about this important step in the process toward receiving our adult-use licenses."
The three final adult-use licenses are: a retail license to be co-located with the current medical retail location in Oxford, and two licenses for cultivation and manufacturing to be co-located with the current medical cultivation and manufacturing facility in Webster. The provisional licenses are for a new retail location in Provincetown, which is anticipated to be the first location on upper Cape Cod, and a new retail location in Ware. Curaleaf currently has medical retail locations in Hanover and Oxford.
Curaleaf employs 65 people in its national headquarters in Wakefield, MA and 80 people in its local Massachusetts operations. Over the past year, Curaleaf has grown to become one of the largest cannabis company in the United States under the leadership of CEO Joseph Lusardi, a Massachusetts native.
About Curaleaf Holdings
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf") is the leading vertically integrated multi-state cannabis operator in the United States. It is a high-growth cannabis company with a national brand known for quality, trust and reliability. The company is positioned in highly populated, limited license states, and currently operates in 12 states with 49 dispensaries, 14 cultivation sites and 13 processing sites. Curaleaf has the executive expertise and research and development capabilities to provide leading service, selection, and accessibility across the medical and adult-use markets, as well as in the CBD category through its Curaleaf Hemp brand. On May 1, 2019, Curaleaf announced the acquisition of the Select brand from Cura Partners for approximately $949 million. On July 17, 2019, Curaleaf announced the acquisition of Grassroots for approximately $875 million.
Dan Foley, VP, Corporate Finance and Investor Relations
Megan Bishop, SVP
FORWARD LOOKING STATEMENTS
This news 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 issuance of adult-use licenses in Massachusetts and anticipated locations for Curaleaf operations in Massachusetts. 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. Other factors that could adversely affect our business and prospects are set forth in our public filings with the Canadian Securities Exchange. 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.
SOURCE Curaleaf Holdings, Inc.