Curaleaf Closes $1.1 Billion Acquisition of Grassroots

Curaleaf Holdings (CSE: CURA) announced this morning that it has finally completed its acquisition of GR Companies, operating as Grassroots, which the firm claims creates the largest cannabis operating in the United States. The transaction was completed as of this morning, July 23.

The completion of the transaction increases Curaleaf’s operations from 18 to 23 US states. Further, the company now owns 135 dispensary licenses, of which only 88 are operational, along with 30 processing facilities and 22 cultivation sites. The expanded footprint is said to increase their exposure to more than two thirds of the US population.

With the close of the transaction, Curaleaf also claims that it will have a leading presence in approximately 13 markets overall, including Illinois and Pennsylvania. However, numerous assets are in the status of being “in transfer”, such as the retail assets within Illinois. This is largely the function of restrictions in terms of hold periods, as well as the simple fact of dealing with government bureaucracy.

In connection with the completion of the transaction, which cost shareholder of the company dilution to the tune of nearly 119 million shares, Michael Kahn, co-founder and CEO of Grassroots, has been appointed to the Board of Directors of Curaleaf.

Curaleaf Holdings last traded at $9.59 per share on the CSE, placing the value of the transaction at roughly $1.1 billion.


Information for this briefing was found via Sedar and Curaleaf Holdings. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Curaleaf Hits US$312.2 Million In Revenue For Q2 2021

Curaleaf Holdings, Inc. (CSE: CURA) on Monday announced its financial results for Q2 2021, which...

Tuesday, August 10, 2021, 08:19:34 AM

Curaleaf To Acquire Reef Dispensaries For US$286 Million

It may have been delayed by two years, but it appears that Tryke Companies, whom...

Monday, November 8, 2021, 07:49:53 AM

US Cannabis, Momentum, With Lots of Hurdles

The US Cannabis market has been a confusing ride for investors to comprehend. We have...

Thursday, September 12, 2019, 04:09:33 PM

Curaleaf Becomes Largest Outdoor Grower In Colorado With Latest Purchase

Curaleaf Holdings (CSE: CURA) has closed on its previously announced acquisition of certain Colorado-based assets....

Monday, October 4, 2021, 08:50:34 AM

Curaleaf Holdings To Raise US$425 Million Via Secured Notes

Curaleaf Holdings (CSE: CURA) evidently is looking to access the debt markets despite weakness in...

Tuesday, December 14, 2021, 08:57:09 AM