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Curaleaf to Enter European Cannabis Market with Acquisition of EMMAC Life Sciences Limited - Europe's Leading Independent Cannabis Company
Curaleaf to Enter European Cannabis Market with Acquisition of EMMAC Life Sciences Limite...
About this update from Curaleaf Holdings, Inc.
[{"type":"text","content":"\n \n \n \n Curaleaf to Enter European Cannabis Market with Acquisition of EMMAC Life Sciences Limited - Europe's Leading Independent Cannabis Company\n \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 EMMAC Brings the Largest Vertically Integrated Independent Cannabis Company in Europe with a Presence in Key European Medical Cannabis Markets, Including the United Kingdom, Germany, Italy, Spain, and Portugal\n \n \n With the European Population of Nearly 748 Million(1), the Potential Addressable Market is More than Twice the Size of U.S. Market\n \n \n Canada NewsWire\n \n \n \n \n \n WAKEFIELD, Mass.\n \n ,\n \n March 9, 2021\n \n /CNW/ --\n \n Curaleaf Holdings, Inc.\n \n (CSE: CURA) (OTCQX: CURLF) (\"Curaleaf\" or the \"Company\"), a leading U.S. provider of consumer products in cannabis, today announced that it has signed a definitive agreement to acquire EMMAC Life Sciences Limited (\"EMMAC\"), the largest vertically integrated independent cannabis company in\n \n Europe\n \n for base consideration of approximately\n \n US$286 million\n \n to be paid 85% in Curaleaf subordinate voting shares and 15% in cash. Contingent consideration of up to\n \n US$57 million\n \n will be paid in Curaleaf subordinate voting shares and cash in the same ratio based upon the successful achievement of performance milestones. The proposed transaction provides Curaleaf with a developed platform for entry into the European cannabis market.\n \n \n As\n \n Europe's\n \n largest vertically integrated independent cannabis company, EMMAC's platform brings cultivation, EU-GMP processing, distribution, and R&D operations across several key European medical cannabis markets, including the\n \n United Kingdom\n \n ,\n \n Germany\n \n ,\n \n Italy\n \n ,\n \n Spain\n \n and\n \n Portugal\n \n . EMMAC also has an operational presence and partnerships in European Union countries that are enacting new medical cannabis access programs. EMMAC's\n \n Portugal\n \n based cultivation facility is an industry leader in cannabis flower production cost.\n \n \n \n Boris Jordan\n \n , Curaleaf Exe...