Curaleaf Sends Response to FDA Letter

WAKEFIELD, Mass., July 26, 2019 /PRNewswire/ -- Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf" or "the Company"), the leading vertically integrated cannabis operator in the United States, responded yesterday to a letter from the U.S. Food and Drug Administration ("FDA") informing FDA that the Company has addressed the issues that were raised in the letter regarding its CBD product marketing.

Upon receiving the letter, Curaleaf Hemp, the Company's hemp-based CBD product line, immediately began an extensive review of its website and social media platforms to remove all statements that FDA identified as non-compliant. This includes removing the Curaleaf Hemp blog, and the third-party links in it, and removing any statements and social media posts to which FDA had taken exception. Additionally, Curaleaf Hemp advised FDA that a number of the products mentioned in the FDA letter had previously been discontinued. Curaleaf Hemp will continue to work diligently to ensure that information it provides to consumers on its website and social media platforms are fully compliant with FDA requirements. 

"Our industry needs, wants and appreciates the work the FDA is doing to ensure there is regulation and compliance in the CBD marketplace," said Joseph Lusardi, CEO of Curaleaf.

"We care deeply about our customers and making a difference in our industry. Curaleaf is committed to being an ethical and responsible company and working with the FDA to be a leader in our industry, setting the standards and guidelines to best service our customers and the communities we serve."

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 48 dispensaries, 13 cultivation sites and 12 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 and Bido brand for pets.

Investor Contact: 
Dan Foley, VP, Finance and Investor Relations    
IR@Curaleaf.com 

Media Contact: 
Megan Bishop, SVP
Media@Curaleaf.com

Forward Looking Statements 

Certain information provided in this press release include forward-looking statements that involve risks and uncertainties, including statements about our anticipated plans, objectives, expectations and intentions 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, including but not limited to the effect on our sales, operations and financial performance. The risks included above are not exhaustive. 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.

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SOURCE Curaleaf Holdings, Inc.