|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||9.59 - 9.90|
|52 Week Range||3.88 - 11.73|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
WAKEFIELD, Mass., May 8, 2019 /PRNewswire/ -- Curaleaf Holdings, Inc. (CURA.CN) (CURLF) ("Curaleaf"), a leading vertically integrated cannabis operator in the United States, today announced that Dan Foley has been appointed Vice President Finance & Investor Relations, effective May 6, 2019. Foley will work with Curaleaf's Executive Leadership Team to help advance knowledge and understanding of the company's vision, unique positioning within the industry and unmatched growth strategy.
What's behind Curaleaf’s Gains on May 6?(Continued from Prior Part)Analysts’ recommendationsOf the seven analysts following Curaleaf Holdings (CURA) (CURLF), three analysts have given the stock a “strong buy” rating, while four analysts are
What's behind Curaleaf’s Gains on May 6?The announcementOn May 6, Curaleaf Holdings (CURA) (CURLF) announced that it signed a definitive agreement with Ohio Grown Therapies that grants it the option to acquire Ohio Grown Therapies’ licenses and
Curaleaf entered into a definitive agreement that grants it an option to buy Ohio Grown Therapies medical cannabis cultivation and processing licenses. Curaleaf said it can complete the acquisition of Ohio Grown Therapies' licenses and the lease in the second half of 2019.
WAKEFIELD, Mass. , May 6, 2019 /CNW/ -- Curaleaf Holdings, Inc. (CURA.CN) (CURLF) ("Curaleaf"), a leading vertically integrated cannabis operator in the United States , today announced it has signed a definitive agreement granting it an option to acquire Ohio Grown Therapies ("OGT") medical cannabis cultivation and processing licenses and facility in Ohio . OGT was awarded preliminary cultivation and processing licenses by the Ohio Department of Commerce in 2018.
The latest move by Curaleaf (CURLF) sets the U.S. cannabis company as not only a domestic leader, but also a global leader in the cannabis sector. The company will now have a market valuation in the $6 billion range with the revenue base similar to the Canadian players without the massive market valuations. The multi-state operators (MSOs) remain of the best ways to play cannabis growth in 2019.Big DealCuraleaf bought the state-regulated cannabis business from Cura Partners for $949 million. The partners own the Select brand that is a leading West Coast wholesale brand with 2018 revenues of $117 million.The deal involves Curaleaf issuing 95.6 million at a closing price of C$13.30. The deal includes an additional earn-out of up to $200 million for exceeding 2020 revenue targets in the wholesale extract business and Select-branded retail extract sales.The Select brand is a market leader in states like California, Oregon and Arizona. When combined with the Acres Cannabis acquisition, Curaleaf will have the top market share in Nevada. Maybe most importantly, the domestic cannabis company will have an oil market share of at least 25% in key states like California and Oregon.The combined company will have 1,000,000 square feet of cultivation space with 11 cultivation facilities, 44 retail locations in operation and 15 states with THC sales by the end of 2019. Maybe even more importantly going forward is the 1,000+ retail stores and 900+ wholesale dispensary accounts selling products from Curaleaf brands.Market LeaderThe interesting part of the story is that the new Curaleaf had pro-forma 2018 revenues that topped $200 million with nearly $75 million in the December quarter. The amount actually tops the $62 million produced by Canopy Growth (CGC) in the December quarter while the later gets all of the headlines due to the NYSE listing and large investment from Constellation Brands (STZ).According to Curaleaf estimates, the company now has double the trailing revenues of any other player in the key U.S. cannabis market. Some other MSOs have big 2020 targets so looking at past revenues is important, but the key is where the company goes from here as plenty of state markets are just now opening up.Source: Curaleaf presentation Curaleaf alone had already forecasted that 2019 revenues would reach $400 million with free cash flow of $100 million. The company is very busy expanding on the East Coast with new operations in Florida, Maryland and New York and states like Ohio and Pennsylvania in the works.TakeawayThe key investor takeaway is that the way to play the cannabis market remains these U.S. MSOs that are expanding operations and acquiring business in the largest global market. Stocks like Curaleaf have major catalysts such as uplisting on major exchanges and the federal legalization of cannabis in the U.S.A company like Curaleaf is a potential acquisition target by major players either in Canada or beverage and tobacco companies from the U.S. and potentially around the globe. All of these companies will want access to a U.S. cannabis market estimated by Cowen to reach $80 billion by 2030. Curaleaf is now in the drivers seat without the lofty valuation.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here. Disclosure: The author has no positions in Curaleaf stock.Read more on Curaleaf : * Curaleaf (CURLF): A Multi-State Cannabis Stock Play * This Medical Cannabis Player Has Big Ambitions, But Will It Succeed? More recent articles from Smarter Analyst: * Gene Munster: Key Takeaways From Nvidia (NVDA) Earnings * Trade War? Top Analyst Says Alibaba (BABA) Stock Still a Buy * The Green Organic Dutchman (TGODF) Stock -- Not Sinking Exactly, But Not Sailing Anywhere Fast * Is Boeing (BA) Stock a Buy Ahead of FAA Announcement?
PHOENIX, May 2, 2019 /PRNewswire/ -- Curaleaf, a leading vertically integrated cannabis operator in the United States, yesterday unveiled its new Arizona initiative with the Veterans Cannabis Project (VCP), an organization that advocates for legal and supported access of medical cannabis for veterans through the Department of Veterans Affairs. Patients at Curaleaf's five Arizona locations can purchase a custom-designed "Veterans Cannabis Project" pre-roll product, with a portion of all proceeds benefiting the VCP.
Curaleaf’s deal to buy Cura Partners stemmed from a desire to specifically acquire the most popular cannabis oil brand in California, Nevada and Oregon.
Curaleaf Holdings Inc. shares soared Wednesday to lead the cannabis sector higher, after the company announced it is acquiring Cura Partners, the parent of the Select brand, in an all-stock deal valued at C$1.27 billion, or about $949 million.
It doesn't have the star power of former politicians on its board of directors or flashy videos by Hollywood directors, but Cresco Labs Inc. The company prefers to let its numbers speak and eschews the flash of other cannabis companies. The company recently reported its earnings and along with its results, Cresco presented a slideshow of statistics.
Curaleaf will issue to Cura shareholders around 95.6 million subordinated voting shares. In this way after the acquisition, Cura shareholders will own around 16 percent of Curaleaf on a fully-diluted basis. Cura shareholders will also be eligible to receive an earn-out of up to $200 million from the issuance of additional shares, subject to Curaleaf exceeding certain 2020 revenue targets.
Curaleaf Holdings is acquiring the maker of a leading West Coast cannabis brand in Cura Partners' Select for nearly $950 million.
announced it agreed to purchase Cura Partners, owners of the Select cannabis brand, for C$1.27 billion, or $948.8 million. The acquisition includes Select's manufacturing, processing, distribution, marketing and retailing operations and all adult-use cannabis products marketed under the Select brand name. "The transformational acquisition of Cura and the Select brand is another step in our journey to create the most accessible cannabis brands in the U.S.," said Joseph Lusardi, CEO of Curaleaf.
Curaleaf Holdings Inc. said Wednesday it has signed a definitive agreement to acquire Cura Partners Inc., the parent of the Select brand, in an all-stock deal valued at C$1.27 billion ($948.8 million). Wakefield, Mass.-based Curaleaf said the deal includes Portland, Ore.-based Select's manufacturing, processing, distribution, marketing and retailing operations and all adult-use cannabis products marketed under the Select brand name, including its intellectual property. Select products are sold at more than 900 retailers in states that have legalized cannabis. To finance the deal, Curaleaf will issue about 95.6 million subordinated voting shares, which are worth C$1.27 billion based on the stock's closing price of C$13.30 on April 30. The stock trades on the CSE as well as on the U.S. over-the-counter market. The deal is expected to close in 2019. It constitutes a 'related party transaction,' because Curaleaf chairman Boris Jordan has an interest in the deal, Curaleaf said in a statement. "The terms of the proposed transaction were negotiated by management and advisors under guidance of, and unanimously recommended for approval by, a committee composed of members of the Board of Directors of Curaleaf free from any conflict of interest with respect to the proposed transaction," said the statement. The committee relied on a fairness opinion from Beacon Securities Ltd. to ensure it is paying a fair price. The founder of the Select brand, Cameron Forni, will join Curaleaf as president of Select, which he started in 2015. Curaleaf U.S.-listed shares were not active premarket, but have gained 107% in 2019 to date, while the S&P 500 has gained 17.5%.
WAKEFIELD, Mass., May 1, 2019 /PRNewswire/ -- Curaleaf Holdings, Inc. (CURA.CN) (CURLF) ("Curaleaf"), a leading vertically integrated cannabis operator in the United States, today announced it has signed a definitive agreement to acquire the state-regulated cannabis business of Cura Partners, Inc. ("Cura"), owners of the Select brand, in an all-stock transaction valued at C$1.27 billion or US$948.8 million. The highly complementary acquisition brings together two of the strongest cannabis brands, Curaleaf and Select, to offer a full-range of products across the U.S. The combination will provide immediate geographic diversification with Curaleaf's footprint on the East Coast and Select's brand strength on the West Coast.
Shares in Curaleaf, one of America's largest cannabis companies, are surging on the announcement that the company is acquiring the leading West Coast cannabis oil manufacturer, Cura Partners, in an all-stock deal valued at about $950 million. Yahoo Finance's Zack Guzman, Alexis Keenan & Sibile Marcellus discuss with Curaleaf CEO Joseph Lusardi.