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Drugdoctor

05/17/21 8:16 AM

#11306 RE: railrider #11305

Curaleaf-Holdings has reached a deal to acquire Los-Sueños Farms, the biggest outdoor cannabis grow in Colorado , for $67 million in cash, stock and assumed debt. The company will pay $49 million for the Los Sueños operating companies and $18 million for the real estate and farm assets. The price will be paid 61% in Curaleaf subordinate voting shares, 29% in cash at closing and 10% in assumed debt maturing in five years. An additional consideration of $8 million in stock will be paid based on operating cash flow-based targets for 2022. "This will significantly expand Curaleaf's Colorado presence, vertically integrating in the state with large-scale outdoor cannabis cultivation," said Curaleaf , which is based in Wakefield, Massachusetts . The deal involves three outdoor grow facilities covering 66 acres of cultivation capacity, an 1,800 plant indoor grow and two retail cannabis dispensary locations offering adult-use recreational cannabis. Curaleaf shares were slightly higher premarket and have gained 20% in the year to date, while the AdvisorShares Pure US Cannabis ETF (MSOS) has gained 11%, matching the S&P 500's gain.