Curaleaf Achieves Vertical Integration in Connecticut with the Addition of AAC Dispensaries in Three of the Largest Metro-Areas
WAKEFIELD, Mass., April 6, 2020 /PRNewswire/ -- Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading vertically integrated cannabis operator in the United States, has completed its acquisition of three Arrow Alternative Care ("AAC" and "Arrow") dispensaries in Connecticut.
Strategically placed in key metro areas, AAC has established itself as a market leader in Connecticut, operating three out of the 18 total dispensaries in the state. AAC's first store opened in Hartford in 2016, the second in Milford in 2017 and the Stamford store opened to customers in January 2020.
"The acquisition of AAC further strengthens our market presence in Connecticut, while reaffirming our position as a leading cannabis operator in the United States," said Joe Lusardi, CEO of Curaleaf. "As with most Curaleaf dispensaries, Arrow will operate as an essential service business allowing Curaleaf to continue to provide patients with the products they rely on during these challenging times. And like all our dispensaries, Arrow has implemented the additional COVID-19 measures to protect employees and patients while remaining open. We look forward to providing our products directly to Connecticut patients and to building a long-lasting relationship 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 40,000 patients throughout the state. The AAC acquisition allows Curaleaf to be vertically integrated in the state, providing products to the patients directly as well as through existing wholesale channels.
Curaleaf currently offers a broad range of flower, extracted oil and edible products manufactured to meet the highest product quality and regulatory compliance standards. The newly acquired dispensaries will sell Curaleaf products along with select superior cannabis products from other Connecticut producers.
During the COVID-19 pandemic, Curaleaf dispensaries have been deemed an essential service in many states and continue to serve patients and customers while implementing heightened safety and hygienic measures including increased cleaning protocol, social distancing, new delivery options, curbside pickup, and dedicated hours for seniors and other at-risk populations.
About Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf") is a leading vertically integrated multi-state cannabis operator with a dominant presence on both the East and West coasts of the United States, the largest cannabis market in the world. As a high-growth cannabis company known for quality, expertise and reliability, the company and its brands, Curaleaf and Select, provide industry-leading service, product selection and accessibility across the medical and adult-use markets.
Strategically positioned in highly populated, limited-license states, the company currently operates in 17 states with 57 dispensaries, 15 cultivation sites, and 24 processing sites. Curaleaf employs over 2,200 people across the United States.
For more information please visit www.curaleaf.com
Curaleaf Holdings, Inc.
Dan Foley, VP, Finance and Investor Relations
Curaleaf Holdings, Inc.
Tracy Brady, VP Corporate Communications
FORWARD LOOKING STATEMENTS
This media advisory contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as "plans", " expects" or, "proposed", "is expected", "intends", "anticipates", " 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. More particularly and without limitation, this news release contains forward‐looking statements and information concerning the close of the acquisition transaction of three Arrow Alternative Care Dispensaries in Connecticut. Such forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, 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. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest annual information form filed September 23, 2019, which is available under the Company's SEDAR profile at www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future. 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. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
SOURCE Curaleaf Holdings, Inc.