Curaleaf to Launch New Adult Use Location on Cape Cod

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Dec 19, 2019, 13:01 ET

Company Secures Final Approval for Provincetown Retail Store

WAKEFIELD, Mass., Dec. 19, 2019 /PRNewswire/ -- Curaleaf Holdings, Inc. (CSE: CURA /OTCQX: CURLF), a leading vertically integrated cannabis operator in the United States, today announced it has been granted final approval by the Massachusetts Cannabis Control Commission to open the first adult-use retail dispensary on Cape Cod.

The retail store will be located at 170 Commercial Street in the heart of Provincetown. Curaleaf will work with the Commission to schedule post-final inspections and open the adult use location in early 2020. The company opened its first adult-use retail location in Oxford, Massachusetts in November, 2019.

"As one of the largest cannabis companies in the United States, we are proud to be based right here in Massachusetts and to be expanding our presence across the Commonwealth," said Curaleaf CEO Joseph Lusardi. "Providing high quality and reliable products to patients and customers in our home state of Massachusetts as well as across the country is important to us."

"Cultivating wellness is our mission and we're excited to become a part of this important community where we expect to create over 30 jobs and get involved with many of the local charities and initiatives that are important to the Outer Cape," said Curaleaf Massachusetts President Patrik Jonsson.

The company also plans to open another adult use retail location in Ware, MA in 2020. Curaleaf currently employs 65 people at its national headquarters in Wakefield, MA and another 145 employees at its local Massachusetts operations, which also includes a medical-only facility in Hanover, MA. Over the past year, Curaleaf has grown to become one of the largest cannabis companies in the United States under the leadership of CEO Joseph Lusardi, a Massachusetts native.

About Curaleaf Holdings

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf") is a leading vertically integrated multi-state cannabis operator in the United States. It is a high-growth cannabis company with a national brand known for quality, trust and reliability. The company is positioned in highly populated, limited license states, and currently operates in 12 states with 51 dispensaries, 14 cultivation sites and 13 processing sites. Curaleaf has the executive expertise and research and development capabilities to provide leading service, selection, and accessibility across the medical and adult-use markets, as well as in the CBD category through its Curaleaf Hemp brand. Visit www.ma.curaleaf.com for information on Curaleaf Massachusetts.

FORWARD LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", 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. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects the current beliefs of Curaleaf and is based on information currently available to Curaleaf and on assumptions that Curaleaf believes are reasonable. These assumptions include, but are not limited to, the anticipated opening of the Provincetown and Ware retail stores and anticipated job creation and involvement with local charities and initiatives as more fully described above. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Curaleaf to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation affecting Curaleaf; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labor or loss of key individuals and the other factors identified in Curaleaf's Listing Statement and its other public filings with the Canadian Securities Exchange. Although Curaleaf has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Curaleaf as of the date of this news release and, accordingly, is subject to change after such date. However, Curaleaf expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

Massachusetts Media Contact:
Casey Sherman
[email protected] (781) 588-8816

Sean Gonsalves
[email protected] (774) 487-9386

Investor Contact:
Dan Foley, VP, Corporate Finance and Investor Relations
[email protected]

Media Contact:
Megan Bishop, SVP
[email protected]

SOURCE Curaleaf Holdings, Inc.