Curaleaf Holdings Inc. (CURLF)

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Curaleaf Expands Maryland Medical Cannabis Presence...with three big acquisitions.

Curaleaf Set To Expand Operations In Maryland With New Financing And Purchase Option Agreements

HMS Health, MI Health, and Elevate Takoma to Rebrand Under Curaleaf Name

REISTERSTOWN, Md., Jan. 10, 2019 /PRNewswire/ — Curaleaf Holdings, Inc., a leading vertically integrated cannabis operator, today announced a series of agreements that will expand its operations, as well as patient access to medical cannabis in the state of Maryland.... while further bringing the company’s expertise to the medical cannabis community within the state.

The agreements include the completion of $30 million in convertible financing with the owners of HMS Health, LLC, HMS Processing LLC, HMS Sales, LLC, and MI Health LLC (the “HMS/MI Businesses”), and also a $2 million acquisition of an option to acquire Town Center Wellness, LLC (operating as Elevate Takoma).

The HMS/MI Businesses consist of a 21,000 square-foot cultivation facility and 1,000 square-foot processing facility in Frederick, Maryland, and two separate 1,000 square-foot dispensaries, each in Gaithersburg, Maryland.

As part of the agreement, the HMS/MI businesses will rebrand and operate under the Curaleaf name, and receive products, services, and other support from Curaleaf.

Curaleaf has a presence in 12 states. Curaleaf operates 42 dispensaries, 12 cultivation sites and 10 processing sites with a focus on highly populated, limited license states, including Florida, Massachusetts, New Jersey, New York, and new ventures in the hot, fledgling, Maryland Medicinal Cannabis Dispensary market.

Curaleaf Expands Maryland Medical Cannabis Presence...New Cannabis Ventures