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Curaleaf Holdings, Inc. reports developments across its consumer cannabis business, including retail dispensary openings, medical and adult-use product brands, quarterly operating results, and international expansion. The company trades on the Toronto Stock Exchange as CURA and on OTCQX as CURLF.
Recurring updates cover brands such as Curaleaf, Select, Grassroots, Find, Dark Heart, Anthem, and Four 20 Pharma; U.S. dispensary activity; medical cannabis distribution in Germany and other international markets; share repurchase activity; board and shareholder matters; and regulatory topics affecting cannabis operations.
Curaleaf Holdings, Inc. (CURLF) will participate in several investor conferences throughout June 2021, including Craig-Hallum's Institutional Investor Conference and Piper Sandler's Consumer Marketplace Conference. Key executives will engage in one-on-one and group meetings, with notable appearances like Executive Vice Chairman Joseph Lusardi at the U.S. MSO panel and Executive Chairman Boris Jordan in a fireside chat. Curaleaf operates in 23 states with 106 dispensaries and is the largest vertically integrated cannabis company in Europe.
Curaleaf announces the acquisition of Los Sueños Farms, enhancing its footprint in the Colorado cannabis market with one of the largest outdoor cultivation facilities in the U.S. The $67 million deal involves three growing sites covering 66 acres, an indoor facility, and two retail dispensaries, paid 61% in shares, 29% in cash, and 10% in debt. This acquisition is expected to add over 50,000 pounds of low-cost wholesale cannabis annually, with plans to double this capacity, positioning Curaleaf to capitalize on the $2.2 billion Colorado market and prepare for future interstate commerce.
Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF) has launched medical cannabis products through its subsidiary Adven GmbH in Germany, the largest medical cannabis market in Europe. The initial offering features a high THC oil product, with plans to expand to more formulations throughout the year, addressing diverse patient needs. The German market for medical cannabis is projected to reach US$2.1 billion by 2025, highlighting significant growth opportunities for Curaleaf in Europe.
Curaleaf Holdings reported strong financial results for Q1 2021, with total revenue reaching $260.3 million, a 170% increase year-over-year. Gross profit on cannabis sales rose to $128 million, achieving a gross margin of 49%. Despite a net loss of $17.2 million, the company cited record adjusted EBITDA of $62.6 million and raised approximately $300 million in new capital. Curaleaf's strategic investments and product launches, such as the Select Squeeze THC-infused beverage enhancer, bolster its market position. The company anticipates revenue of $305 million to $315 million in Q2 2021.
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) has completed a significant reorganization of its Maryland operations, enhancing its position as a top cannabis operator in the state. The company acquired Maryland Compassionate Care and Wellness, LLC, which operates a 55,000 sq ft cultivation and processing facility in Taneytown, and a dispensary in Gaithersburg. Curaleaf also sold its interests in other facilities for a total of $31.4 million, including $27.5 million from TerrAscend and $3.9 million from PharmaCann. This expansion aims to boost production capacity and patient access in Maryland.
Curaleaf Holdings (CSE: CURA / OTCQX: CURLF) has announced participation in several upcoming investor conferences in May 2021. CEO Joe Bayern will speak at A.G.P.'s Spring Virtual Consumer Cannabis Conference on May 4, focusing on new adult-use markets in New York and New Jersey. Executive Chairman Boris Jordan will take part in Canaccord's Cannabis Conference on May 11, and a discussion on Curaleaf's European expansion at Prohibition Partners LIVE on May 20. More details are available on their IR website.
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) has opened its first adult-use retail location in South Portland, Maine, expanding its total to 106 stores. The new location offers Curaleaf's renowned products, including Select, and aims to serve the growing adult-use market. The company has operated in Maine since 2014, focusing on quality and customer service. Curaleaf is committed to community support through initiatives like job inclusivity and social equity programs, including significant local donations. The opening celebration features discounts and contributions to local charities.
Curaleaf Holdings announced it will release its financial and operational results for Q1 2021 on May 10, 2021, after market close. A conference call is scheduled for the same evening at 5:00 p.m. ET, featuring remarks from management and a Q&A session. Curaleaf operates in 23 states with 105 dispensaries and is recognized as a leading cannabis producer. Interested participants can access a replay until May 17, 2021. For more details, visit their website.
Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF) announces the opening of two new retail locations in Horsham and Philadelphia, marking its 11th and 12th stores in Pennsylvania. This expansion brings Curaleaf's total to 104 locations nationwide across 23 states. The company recently rebranded nine Herbology dispensaries under the Curaleaf name. CEO Joe Bayern anticipates strong demand for cannabis products, highlighting Curaleaf's commitment to community engagement and patient care through various CSR initiatives, including discounts for veterans and first-time patients.
Curaleaf has successfully acquired EMMAC Life Sciences for approximately US$50 million in cash and 17.5 million shares. This makes Curaleaf the largest vertically integrated cannabis company in Europe, enhancing its presence across key markets including the UK, Germany, and Italy. Additionally, Curaleaf secured a US$130 million investment from a strategic investor for a 31.5% stake in its new entity, Curaleaf International, valuing it at US$413 million. This capital will fund the acquisition and support Curaleaf's expansion in Europe, aiming to significantly increase cultivation capacity.