Welcome to our dedicated page for Curaleaf Hldgs news (Ticker: CURLF), a resource for investors and traders seeking the latest updates and insights on Curaleaf Hldgs stock.
Curaleaf Holdings, Inc. (OTCQX: CURLF, TSX: CURA) generates frequent news as an international provider of consumer cannabis products operating across medical and adult-use markets. Company updates often highlight its portfolio of brands, including Curaleaf, Select, Grassroots, Find, Anthem and The Hemp Company, and how these brands are deployed through retail dispensaries and international channels.
News coverage for Curaleaf commonly includes corporate and regulatory developments, such as its announced intention to seek shareholder approval for a proposed arrangement to continue from British Columbia, Canada to Delaware in the United States. This proposed domestication is described by the company as a way to align its corporate structure with its operational focus while maintaining its listings on the Toronto Stock Exchange and OTCQX.
Investors and observers can also expect retail expansion and operational updates. Recent announcements have covered the opening and relocation of dispensaries, including Curaleaf Millcreek in Erie, Pennsylvania, and Curaleaf Cape Canaveral in Florida. These releases describe new store locations, in-store experience, and the availability of products such as premium flower, vapes and edibles under the company’s brands.
Curaleaf’s news flow further includes transaction and financing announcements, such as its binding commitment to acquire, and later the termination of that commitment for, The Cannabist Company’s Virginia assets, and the upsizing of its revolving credit facility with Needham Bank from $40 million to $100 million. In addition, the company issues financial results releases, including quarterly reports prepared under U.S. GAAP that detail segment revenue, margins, cash flow and non-GAAP performance measures.
Beyond financial and operational items, Curaleaf also reports on community and social initiatives like its Feed the Block fundraiser to address food insecurity and partnerships with organizations such as the Baldwin Fund. For those tracking CURLF, this news page brings together these various categories of updates in one place.
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.
Curaleaf Holdings announces the opening of its 10th retail store in Illinois, located in Westmont, marking a total of 103 locations nationwide. The company has rebranded nine acquired stores in Illinois, enhancing community connection through local designs. Curaleaf also invested $950,000 in social equity initiatives in the Chicago area, focusing on education and job training. The Grand Opening event on April 8 will feature discounts and community engagement. CEO Joe Bayern emphasizes building strong national brands and partnerships to positively impact communities.
Curaleaf, a leading cannabis company, launched Select Squeeze, a THC-infused beverage enhancer that uses nano-emulsification technology, on March 23, 2021. This product marks a significant milestone as it becomes available in 14 states for a total accessible audience of 94 million adults. With faster absorption rates than traditional edibles, Select Squeeze is designed for easy dosing and discreet use. The product will feature four flavors and will be part of a larger lineup in over 1,500 locations. Curaleaf continues to expand its presence nationwide, solidifying its status in the cannabis market.
Curaleaf announced the launch of its Select Fresh line of cannabis oils, featuring bold fruit flavors and a new .3 gram 'Go' cartridge. This innovative product will be available simultaneously in 10 states, expanding the brand's reach and commitment to consistency across the U.S. market. Select Fresh aims to cater to consumers seeking flavorful vaping experiences at an attractive price point, aligning with Curaleaf's strategy to enhance its product portfolio. The rollout in states like Arizona, Connecticut, and California supports Curaleaf's position as a leading cannabis provider.
Curaleaf Holdings has appointed Carlos Madrazo as the Senior Vice President of Investor Relations and Capital Markets, a newly created position, effective March 15, 2021. Madrazo, who brings over 20 years of international experience in investor relations and investment banking, will work with the Executive Leadership Team to enhance shareholder knowledge, corporate finance strategies, and communication. His appointment coincides with Curaleaf's expansion into the international cannabis market, particularly following the acquisition of EMMAC Life Sciences, the largest independent cannabis company in Europe.
Planet 13 Holdings (OTCQB: PLNHF) has partnered with Curaleaf's Select brand to launch a unique shop-in-shop at its Las Vegas SuperStore, which opened on March 15, 2021. This collaboration aims to highlight Select's extensive product line, providing an educational and sales platform for the brand's offerings, including Select Elite and Nano Gummies. As Select is recognized as America’s top cannabis oil brand, the partnership is expected to boost Planet 13's visibility and appeal in the cannabis market, especially among tourists visiting Las Vegas.
Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF) announced that CEO Joseph Bayern will participate in the Cannabis State of the Industry Panel at the Roth Capital Partners Virtual 33rd Annual Conference on March 16, 2021, at 2:00 pm ET. Investors can access the webcast through Curaleaf's investor relations website. Curaleaf is a leading cannabis consumer product provider in the U.S., operating 101 dispensaries, 23 cultivation sites, and employing over 3,800 team members across 23 states.
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Curaleaf Holdings reported record financial results for Q4 and FY2020. Managed revenue reached $233.3 million in Q4, reflecting a 186% year-over-year increase, while total revenue was $230.3 million, up 205% from the prior year. For FY2020, managed revenue was $653.0 million, a 161% growth, with total revenue at $626.6 million, up 184%. Adjusted EBITDA for Q4 reached $53.8 million, a 289% increase. Despite these gains, the company reported a net loss of $35.3 million for Q4.
Curaleaf aims to expand further with its entry into the European market.