Curaleaf provides update on acquisitions of Select, Grassroots and ATG
WAKEFIELD, Mass., Jan. 17, 2020 /PRNewswire/ -- Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF), a leading vertically integrated cannabis operator in the United States, today provided updates on the acquisitions of Cura Partners, Inc. ("Select"), GR Companies Inc. ("Grassroots") and Alternative Therapies Group ("ATG"):
- Select – Curaleaf and Select have satisfied all requirements for closing the proposed acquisition of Select by Curaleaf except for the license transfer in Oregon. Both parties are working diligently with state regulators to acquire approval as soon as possible and expect to close no later than February 1, 2020.
- Grassroots – Curaleaf and Grassroots have each submitted certifications of substantial compliance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 regarding the proposed acquisition of Grassroots. The transaction is expected to close in Spring of 2020.
- ATG – ATG has filed its application for change of control with the Massachusetts Cannabis Control Commission in relation to the transaction with Curaleaf. Curaleaf and ATG are working with regulators to secure approvals as soon as possible.
About Curaleaf Holdings
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf") is a 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 52 dispensaries, 14 cultivation sites and 14 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.
FORWARD LOOKING STATEMENTS
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, including the ability of the parties to satisfy the conditions to closing of the transactions described above in a timely manner. More particularly and without limitation, this release contains forward looking statements and information concerning the expected date of closing and the anticipated benefits to Curaleaf of the 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; delay or failure to receive board or 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 Listing Statement and its other public filings with the Canadian Securities Exchange. In addition, the closing of the transactions described above may not be completed, or may be delayed, if the parties' respective conditions to the closing of the transactions described above are not satisfied on the anticipated timelines or at all. Accordingly, there is a risk that the transactions described above will not be completed within the anticipated time, on the terms currently proposed and disclosed in this press release or at all.
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.
VP, Finance and Investor Relations
VP, Corporate Communications
SOURCE Curaleaf Holdings, Inc.
Released January 17, 2020