Curaleaf Brand Coming to Recently Acquired Arrow Alternative Care and Grassroots Dispensaries in Groton, Hartford, Milford and Stamford
WAKEFIELD, Mass., Oct. 12, 2020 /PRNewswire/ -- Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading vertically integrated cannabis operator in the United States, today announced new Curaleaf dispensary branding for all of the Company's recently acquired Arrow Alternative Care ("AAC" and "Arrow") and GR Companies, Inc. ("Grassroots") dispensary locations in Connecticut. Curaleaf is the largest national retail dispensary brand in the U.S., and a premium mainstream cannabis brand available in 23 states as well as across a wide range of innovative products and form factors.
Joseph Lusardi, Chief Executive Officer of Curaleaf, said: "Building on our market leading position in Connecticut, we're pleased to bring the Curaleaf branding to all four of our local medical cannabis dispensaries in the state. The rebranding of these locations directly aligns with our strategy of building strong, national brands that are renowned for high-quality products, backed by science, that deliver exceptional customer satisfaction. With our Curaleaf brand in health and wellness, and our Select brand ranked as the #1 cannabis oil brand, we remain focused on providing our products directly to an expanding range of Connecticut patients. Overall, we are extremely proud to be active partners within these local communities and we look forward to building long-lasting relationships with them."
Curaleaf began cultivating and processing medical cannabis in Connecticut in 2014. Today, Curaleaf is one of four licensed growers in Connecticut and operates a 60,000 square foot cultivation facility in Simsbury that provides high-quality cannabis products to over 9,000 patients statewide through its four dispensaries as well as wholesale channels.
In April of 2020, Curaleaf achieved vertical integration in Connecticut with the completion of its acquisition of Arrows' dispensaries in Harford, Milford and Stamford, three of the largest Connecticut metro-areas. Under Curaleaf's branding strategy, all three former Arrow dispensaries have been rebranded as Curaleaf dispensaries. Strategically placed in key metro areas, Arrow established itself as a market leader in Connecticut, operating three out of the 18 total dispensaries in the state. The Hartford dispensary opened in 2016, followed by Milford in 2017 and the Stamford store opening to customers in January of 2020. Additionally, in July of 2020, Curaleaf successfully completed the acquisition of Grassroots, including the Grassroots Herbology dispensary located in Groton, which has also been rebranded as a Curaleaf dispensary.
Curaleaf's Connecticut dispensaries offers a broad range of flower, extracted oil and edible products manufactured to meet the highest product quality and regulatory compliance standards. Connecticut recently added as a qualifying medical condition Chronic Pain of at least six months duration associated with a specified underlying chronic condition refractory to other treatment intervention, which has the potential to significantly expand the size of the addressable market. In June of 2020, Curaleaf expanded its line of Select brand products into Connecticut with Select Elite Live cartridges available at local medical dispensaries across the state. Select, America's #1 cannabis oil brand, can be found in 14 states including Arizona, California, Colorado, Connecticut, Florida, Maryland, Michigan, Nevada, New York, Ohio, Oklahoma, Oregon, Massachusetts, and Maine. As a recognized industry leader, Select is committed to meeting high quality control standards and testing transparency as well as delivering a smooth, flavorful experience with all products formulated with strain-specific terpenes.
During the COVID-19 pandemic, Curaleaf dispensaries have been deemed an essential service in many states, including Connecticut. Curaleaf continues to serve patients and customers while implementing heightened safety and hygienic measures including increased cleaning protocols, social distancing, mobile pre-ordering, and curbside pickup for at-risk populations.
For additional information about Curaleaf's Connecticut dispensaries please visit https://ct.curaleaf.com/
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 rebranding and transactions 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.
Curaleaf Holdings, Inc.
Dan Foley, VP, Finance and Investor Relations
Curaleaf Holdings, Inc.
Tracy Brady, VP Corporate Communications
SOURCE Curaleaf Holdings, Inc.