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Curaleaf Signs Amended Agreement for the Acquisition of Grassroots
Curaleaf Signs Amended Agreement for the Acquisition of Grassroots Canada NewsWire...
About this update from Curaleaf Holdings, Inc.
[{"type":"text","content":"\n\n\n\nCuraleaf Signs Amended Agreement for the Acquisition of Grassroots\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nWAKEFIELD, Mass., June 22, 2020\n\n\n\nPositions Curaleaf as the World's Largest Cannabis Company\nBrings Together the Largest Public and Largest Private Multi-State Operators in the U.S.\n WAKEFIELD, Mass., June 22, 2020 /CNW/ -- Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (\"Curaleaf\" or the \"Company\"), a leading vertically integrated cannabis operator in the United States, today announced that it has signed an amended agreement for its acquisition of GR Companies, Inc. (\"Grassroots\"), the largest private vertically-integrated multi-state operator in the United States.  \nJoseph Lusardi, CEO of Curaleaf, stated, \"Today's announcement marks another significant step forward in finalizing our acquisition of Grassroots, providing Curaleaf an important entry to highly populous, vertically integrated markets in the Midwest. The pending integration of Grassroots will solidify Curaleaf's position as the world's largest cannabis company by revenue and the most well-diversified, vertically integrated cannabis company in the United States, the world's largest cannabis market. We are well positioned to continue to lead our growing industry, and we look forward to closing the transaction and serving new patients and customers in the Grassroots community.\"\nOn July 17, 2019, Curaleaf announced the signing of a definitive agreement to acquire Grassroots. Under the new mutually agreed and amended terms of the agreement, the principal component of the transaction consideration remains the same at approximately 102.8 million subordinate voting shares (\"SVS\") of Curaleaf.  What had initially been a $75 million cash component of the consideration has been eliminated, while the component of additional Curaleaf SVS to be priced at the 10-day volume-weighted average price prior to closing of the transaction has been increased from $40 million to approximately $90.1 million, subject to final adjustment. According...