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They owe more than they have and because of the high taxes in the US every quarter is a loss no matter how much product they sell. That is a problem when you are trying to run a business. If every person who owns an american cannabis stock wrote their congress person or senator they could move the needle. Other than that, the US will whither while the rest of the world builds businesses and supports their success.
Closing green. No reason to sell while SO much happening. SO WHAT they spent $ to GROW. That's what you're supposed to do, TO GROW! Some peeps just don't get it.
SAFE Banking status: Q&A with marijuana industry ally US Rep. Ed Perlmutter
https://mjbizdaily.com/us-rep-ed-perlmutter-update-on-safe-banking-act-cannabis-businesses/
The reason marijuana stocks are up is because of this...
https://www.businessinsider.com/legalize-marijuana-federal-its-not-just-democrats-anymore-republicans-2021-11
Earnings were fine, big acquisition and bipartisan reform happening NOW. Peeps gonna chase...$20 EOY 30-40 by 3rd q '22
Low volume eod manipulation was all that happened.
Curaleaf Q3 Revenue Increases 2% Sequentially to $317 Million as Adjusted EBITDA Slips 15%:
https://www.newcannabisventures.com/curaleaf-q3-revenue-increases-2-sequentially-to-317-million-as-adjusted-ebitda-slips-15/
Someone knew or suspected, therefore late day sell-off
Hmm,, that drop at eod is very interesting. I'm thinking huge reversal coming. Jmho.
Earnings disappoint somewhat
https://finance.yahoo.com/news/curaleaf-reports-third-quarter-2021-210100790.html?.tsrc=fin-srch
CURALEAF EXPANDS ITS PRESENCE IN THREE KEY GROWTH MARKETS WITH ACQUISITION OF TRYKE COMPANIES
https://ir.curaleaf.com/2021-11-08-Curaleaf-Expands-its-Presence-in-Three-Key-Growth-Markets-with-Acquisition-of-Tryke-Companies
Acquisition Adds Integrated Cultivation, Processing and Retail Assets in Arizona, Nevada and Utah
Financially Compelling Transaction Expected to be Immediately Accretive to EBITDA Margins and Free Cash Flow
WAKEFIELD, Mass., Nov. 8, 2021 /PRNewswire/ -- Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading international provider of consumer products in cannabis, today entered into a definitive agreement to acquire Tryke Companies ("Tryke") (dba as Reef Dispensaries), a privately held vertically integrated, multi-state cannabis operator, in a cash and stock transaction valued at approximately US$286 million.1 The transaction is expected to close in the second half of 2022, subject to customary approvals and conditions.
Under the terms of the agreement, Curaleaf will pay US$40 million in cash at closing, with a remaining US$75 million in cash to be paid in equal installments on the first, second and third anniversaries of the closing. The stock portion of the transaction, which consists of 17 million subordinate voting shares of Curaleaf ("Curaleaf Shares"), will also be paid in three equal installments on the first, second and third anniversaries of the closing. An incremental earnout of up to 1 million Curaleaf Shares may be paid in 2023 based on the business exceeding certain EBITDA targets for the year 2022.
Founded in Arizona in 2014, Tryke has focused on growing and producing the finest and most consistent cannabis products on the market. The company helped pioneer Nevada's legal cannabis market from its inception in 2015, and continues to lead the industry in Utah where it has worked since 2019 to help establish the state's medical cannabis program. Tryke has refined processes to craft an ever-evolving selection of products and brands at multiple price points. The company's dispensaries have served more than 7.6 million customers, offering a wide variety of in-house and third-party flower, concentrates, vape cartridges, edibles, topicals and CBD products. Upon closing, Curaleaf will assume ownership of Tryke's extensive portfolio of processing licenses and expects to significantly expand its cultivation capacity from 30,000 square feet to over 80,000 square feet over the next three years.
Boris Jordan, Founder and Executive Chairman of Curaleaf, said, "On Behalf of the Board of Directors and management team, I look forward to welcoming Tryke to the Curaleaf family as we expand our offerings and operations and bolster our competitive position in three key growth markets. We believe that Tryke represents a unique opportunity to join forces with another industry leading pioneer that shares Curaleaf's commitment to legalization and expansion. This strategically and financially compelling transaction will expand our US presence by bringing additional premium products to our consumers and retailers in Nevada, Arizona and Utah, all while yielding meaningful benefits for all of our stakeholders. We expect the acquisition to be immediately accretive to our EBITDA margins and free cash flow generation upon closing."
"This is a tremendous opportunity for Tryke and, as a combined entity, we will continue to deliver significant value for our consumers and retailers in Arizona, Nevada and Utah," said Adam Ryan, Chief Executive Officer of Tryke Companies. "As a part of Curaleaf's growing network of dispensaries, Tryke is excited to bring its full suite of multi-price point products to an expanded base of consumers across the country. We are excited to join forces with the industry leader at such a pivotal moment in the United States' legalization efforts. We share Curaleaf's optimism for the future and are excited to become investors alongside the Company's talented leadership team."
Compelling Strategic and Financial Benefits
Enhances Curaleaf's operations in Arizona, Nevada and Utah: Tryke currently owns and operates six heavily trafficked dispensaries under the Reef brand, with two retail stores in Arizona and four in Nevada, including the Phoenix metropolitan area, Las Vegas strip and North Las Vegas. The company's products are sold in over 50 additional locations across its footprint.
Enriches Curaleaf's product offerings: Tryke currently offers a wide variety of in-house and third-party flower, concentrates, vape cartridges, edibles, topicals and CBD products at a range of price points. Tryke's product portfolio is highly complementary to Curaleaf's, allowing the Company to offer consumers and retailers in Arizona, Nevada and Utah an even broader selection of premium cannabis products.
Improves Curaleaf's margins and free cash flow generation: Tryke has a strong financial profile, with a history of delivering significant revenue growth and compelling EBITDA margins in excess of 35%. Tryke is expected to record nearly US$110 million in full year 2021 revenue. Curaleaf expects the acquisition will be immediately accretive to the Company's EBITDA margins and free cash flow generation.
The closing of the transaction is expected to occur in the second half of 2022 subject to customary closing conditions, including the receipt of approval from the applicable state regulators, including the Nevada Cannabis Compliance Board.
Transaction Advisors
Honigman LLP and Stikeman Elliott LLP acted as legal advisors to Curaleaf. Wilmer Cutler Pickering Hale and Dorr LLP and McCarthy Tétrault LLP acted as legal advisors and Canaccord Genuity acted as financial advisor to Tryke.
Third Quarter Financial Results
In a separate press release to be issued today after the market closes, Curaleaf will announce its financial results for the third quarter of 2021, and it will be available at https://ir.curaleaf.com
Conference Call & Webcast
Curaleaf will hold a conference call today, November 8, at 5:00 p.m. Eastern Time to discuss this announcement, as well as its third quarter 2021 results. Investors who wish to participate in the call should dial 1-888-317-6003 (U.S.) or 1-866-284-3684 (Canada) or 1-412-317-6061 (International) approximately 15 minutes before the call begins and provide conference ID number 2599473.
A live audio webcast of the call will be accessible from the company's website, https://ir.curaleaf.com/.
About Curaleaf Holdings
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf") is a leading international provider of consumer products in cannabis with a mission to improve lives by providing clarity around cannabis and confidence around consumption. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf and Select, provide industry-leading service, product selection and accessibility across the medical and adult-use markets. In the United States, Curaleaf currently operates in 23 states with 111 dispensaries, 25 cultivation sites, and employs over 5,200 team members. Curaleaf International is the largest vertically integrated cannabis company in Europe with a unique supply and distribution network throughout the European market, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information, please visit https://ir.curaleaf.com.
Curaleaf IR Twitter Account: https://twitter.com/Curaleaf_IR
Investor Toolkit: https://ir.curaleaf.com/investor-toolkit
Investor Relations Website: https://ir.curaleaf.com/
Forward Looking Statements
This media advisory contains forward–looking statements and forward–looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward–looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as "plans", "expects", "proposed", "is expected", "intends", "anticipates", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward–looking statements and information concerning the completion of the acquisition of Tryke Companies ("Tryke") and its impacts on the combined business of Curaleaf and Tryke, Tryke's expected full year 2021 revenue, and the accretive nature of the acquisition of Tryke to Curaleaf's EBITDA margins and free cash flow. Such forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, amongst other risk factors, the ability of Curaleaf to successfully complete the acquisition of Tryke and successfully integrate the business of Tryke and their respective corporate cultures; the potential delays or failures to receive required regulatory approvals; and the risks that actual financial results of Tryke will not meet expectations. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest annual information form filed?April 28, 2021, which is available under the Company's SEDAR profile at?http://www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
Investor Contact:
Curaleaf Holdings, Inc.
Carlos Madrazo, SVP Head of IR & Capital Markets
IR@curaleaf.com
Media Contact:
Curaleaf Holdings, Inc.
Tracy Brady, VP Corporate Communications
Media@curaleaf.com
1 Based on the closing price of Curaleaf's subordinate voting shares on the OTC market as of November 5, 2021.
SOURCE Curaleaf Holdings, Inc.
How Asian Americans are blazing a new path in a blooming pot industry
https://www.theguardian.com/society/2021/nov/07/asian-americans-cannabis-industry
Everyone knows $CURLF is the KING OF CANNABIS. CGC getting crushed and peeps coming to the GREEN USA side.
https://www.natlawreview.com/article/us-house-passes-safe-banking-act-part-defense-bill
https://www.congress.gov/bill/117th-congress/house-bill/1996
I suspect some deals will be made prior to year end to get it through the Senate. They ALL just trying to stick their hands in the cookie jar at same time.
I saw I was wrong on the bottom last Thurs and later that day I ditched all but 100 shares so I can keep an eye on it. I'm hoping for $5 but time will tell. :)
Any news on a SAFE Banking ACT timeline?
Wow look at this turd
death spiral
so glad i moved all my funds to HITI
Munchin Holding MJ Legislation hostage?
hope so
would be helpful for usa mj
Politicians are some funny folks. Seems they're busy fighting over $ again...May eventually get something good done like CANNABIS LEGALIZATION...
https://www.marijuanamoment.net/walking-in-our-shoes-the-last-mile-to-federal-legalization-sponsored-op-ed/
perhaps, but that time of year again?
It's a terrible time for MJ investors it seems. Come on 4/20/22 :(
This cat is not dead and its claws are still sharp.
$$$CURLF
RSI = 30 Borderline Oversold?
see dead cat bounce next week?
I see this dump will represent the bottom. :)
First time in the red since I bought in a year ago.
I want cake dammit!
"short"?
If you mean trading at current sp. I think most all cannabis are diluting large amounts for future growth with many regulations coming about soon.
Not sure. But, hope it's good enough to get some upward movement for a change. These 10's are holding up soo far. Beat on them long enough could fall though.
Curaleaf earnings report. Doesn't that come out on Nov 11th?
I think shwz is advancing and taking the cake in colorado,,, not only with a great share structure but with a conservative management and a tremendous bussiness plan and execution!!!
Disclaimer: I’m
Long both but getting tired of the constant dilution in curaleaf
Either getting shorted or diluted??? Perhaps someone can check the SS and confirm it's not the later. Has to be close to bottom by now. Anything from here and lower are gifts. If it's shorts they're gonna get squeezed REAL soon.
Only reason this won't pop and pop very high would be if they miss on earnings. I just don't see that happening. Last time I visited a "shop" it was packed. People spending more $ on pot they ever before. Average down and profits will come very soon
They're lowering their interests rates on loans that will really help increase what they can do. Also, NY, NJ revs gonna be HUGE.
That interview was very insightful
I already watched it, very impressive indeed. I get it , later stage world domination goal , only without the aurora endo ! I am accumulating more according to rate of fruition per MSO these days . 1-3 yrs /3-5 yrs/ 10 yrs out .
many great choice's these days /cura is on my radar [not Tilray]/ cheers !
Posting a loss on paper only means they're spending $ RIGHT NOW to grow RIGHT NOW. You'll understand later. Or just watch the latest interview with the C.E.O.
. .yep ya better stock up on tru now . . cuzz your head is gonna give ya 'trouble in the Future' for what you decide now.
for long-term investors,
https://www.msn.com/en-us/money/savingandinvesting/cannabis-is-a-huge-opportunity-for-long-term-investors-ross-gerber-says/ar-AAPeNr3?li=BBnbfcL
'how i love that Big Green Curaleaf apple on the left side. USA mso, curlf (for now until it goes on nasdaq or nyse) imo . . 2nd qtr.2023
bird in the hand is worth 2 in the bush ......tru's bird banked 41 million NET profit last qtr / cura lost 7.24 million last qtr . how is 100m shares WORSE than your 600 million ? yeah u got foot print but u gotta have low cost production / margins that crush the competition . current and past cost efficiency are very important as they likely predict the future . aurora is not even worthy of mention.......
100m+ shares with 2b valuation is ridiculous. That's gonna set them back at least a couple years. SP will suffer due to that deal TRU made.
right on i agree. 'we are not second fiddle.
They already had to 'bail out Harvest with their crap. But iam thankful they picked harvest before we did. We have a bigger hammer (aka Area). And smarter in our decisions.
unlike aurora that tried to take over the world haa. maybe that's what tru is trying to do
Read post below. Ohh, I left out the tri-state future growth and impact...Yeah, $CURLF is top dog there
$CURLF has 3X in assets and 50% more revenue than tru. So, NOT even close to taking over as king of the MSO's. With euro business they'll bring even that much more.
everybody's second to tru ..... those margins are insane .
I hope Curaleaf can out-perform Trulieve. Our we second fiddle what is your opinion ?
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