Curaleaf Holdings, Inc. CURA CURLF reported Friday it has completed the purchase of the Acres Cannabis assets.
The company previously announced its plans to acquire Acres Cannabis, a vertically integrated company with cultivation and production facilities and dispensaries, back in March.
The company announced the purchase price is set to $70 million, consisting of $25 million paid in cash, and the remaining $45 million in Curaleaf stock. The purchase includes Acres’ two dispensaries, one located in the heart of Las Vegas, and the other in Ely, Nevada.
With the new addition, Curaleaf now holds two cultivation facilities, two processing sites, and two dispensaries based in Las Vegas, and one retail location in Ely that should launch during the second quarter of 2020.
Curaleaf’s stock closed Friday’s session 0.81% higher at $6.25 per share.
Related Links:
Curaleaf Holdings Secures $275M Loan, 'Fortifies' Balance Sheet
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis rescheduling seems to be right around the corner
Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.