U.S. Markets closed
  • S&P Futures

    3,786.50
    -30.25 (-0.79%)
     
  • Dow Futures

    31,058.00
    -178.00 (-0.57%)
     
  • Nasdaq Futures

    12,545.25
    -136.50 (-1.08%)
     
  • Russell 2000 Futures

    2,181.90
    -23.90 (-1.08%)
     
  • Crude Oil

    61.74
    +0.46 (+0.75%)
     
  • Gold

    1,711.00
    -4.80 (-0.28%)
     
  • Silver

    26.17
    -0.21 (-0.80%)
     
  • EUR/USD

    1.2057
    -0.0010 (-0.0844%)
     
  • 10-Yr Bond

    1.4700
    +0.0550 (+3.89%)
     
  • Vix

    26.67
    +2.57 (+10.66%)
     
  • GBP/USD

    1.3947
    -0.0006 (-0.0418%)
     
  • USD/JPY

    107.0370
    +0.0350 (+0.0327%)
     
  • BTC-USD

    49,747.37
    +931.98 (+1.91%)
     
  • CMC Crypto 200

    993.16
    +5.06 (+0.51%)
     
  • FTSE 100

    6,675.47
    +61.72 (+0.93%)
     
  • Nikkei 225

    28,755.55
    -803.55 (-2.72%)
     

'Ongoing Support For The Company': Curaleaf Shareholders Sign Extended Lockup Agreement

  • Oops!
    Something went wrong.
    Please try again later.
Nina Zdinjak
  • Oops!
    Something went wrong.
    Please try again later.

Curaleaf Holdings, Inc. (CSE: CURA) (OTC: CURLF), a vertically integrated cannabis company, said Monday that shareholders who hold around 75% of the company’s outstanding shares have signed an amended and extended lockup agreement.

Since Curaleaf completed a reverse takeover transaction one year ago, all shareholders who held more than 1% of the issued shares have been subject to lockup agreements, the company said Monday.

Shareholders have willingly singed an extended lockup agreement that limits the number of shares released as of Monday to 15% of previously lockedup shares.

An additional 15% of the locked-up shares will unlock on the last day of every subsequent calendar quarter, with the final 10% unlocking March 31, 2021, according to Curaleaf.

Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.

"The extension of the lockup agreements by Curaleaf's core shareholders signals their ongoing support for the company,” Executive Chairman Boris Jordan said in a statement.

“We expect the new lockup release schedule to reduce uncertainty regarding the release of currently locked-up shares and provide for a more orderly increase in the available float in the company's shares. Nevertheless, the core shareholders have all expressed their current intention not to sell any shares despite the partial release from lock up. As announced on October 3, I myself recently increased my shareholding."

Curaleaf’s shares closed Monday’s market session down 2.4% at $5.94 per share.

Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter.

See more from Benzinga

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.