Includes award-winning flagship dispensary in Las Vegas
WAKEFIELD, Mass., Dec. 19, 2019 /CNW/ -- Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF), a leading vertically integrated cannabis operator in the United States, today announced that it has received all regulatory approvals to close the acquisition of the retail assets of Acres Cannabis ("Acres"). The acquisition consists of one dispensary location in the heart of Las Vegas, adjacent to the Strip, and another in Ely, Nevada. Both parties have agreed to close the transaction on January 1, 2020.
The flagship dispensary is an award-winning 19,000 sq. ft. space boasting a museum and open view processing kitchen where customers can view the creation of edibles and extracts. The cannabis experiential store is open 24 hours a day, 7 days a week, and hosts America's first marijuana farmers market every weekend. The second dispensary in Ely, Nevada is expected to be completed in Q2 2020.
"The closing of the Acres acquisition will be another milestone in our strategy to expand Curaleaf's presence across the United States, providing greater access to high quality, reliable cannabis products for medical patients and adult-use customers," said Joseph Lusardi, CEO of Curaleaf. "This acquisition solidifies our vertically integrated operations in Nevada, complementing our existing assets, and providing a platform to grow our retail and wholesale businesses in the state."
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 51 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.
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. These assumptions include, but are not limited to, the anticipated benefits to Curaleaf of the transaction 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. 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.