Curaleaf Continues Expansion Across Florida with Opening of South Tampa Dispensary

Rhea-AI Summary

Curaleaf Holdings has opened its 30th dispensary in Florida, located in Tampa, marking the 89th dispensary nationwide. This expansion aims to serve Florida's 394,000 registered medical patients, contributing to job creation in the cannabis sector, with an average of 11 jobs per new location. Curaleaf's new Tampa store features the best-selling Select products, aligning with the company's commitment to quality service and accessibility. This opening occurs amid Florida's economic recovery from a peak unemployment rate of 10.4% due to COVID-19.

Positive

• Opened 30th dispensary in Florida, boosting market presence.
• Targets 394,000 registered medical patients in Florida.
• Generated 722 total jobs statewide with new hires.

Negative

• None.

Curaleaf's 30th Location in Florida Will Bring Best-Selling Select Products to More Local Patients

WAKEFIELD, Mass., Aug. 27, 2020 /PRNewswire/ -- Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading vertically integrated cannabis operator in the United States, today announced the opening of Curaleaf Tampa, the second of three new dispensaries the company is opening in the Tampa-St. Petersburg-Clearwater metropolitan area this quarter.

Curaleaf Tampa, located at 3030 W. Gandy Blvd., opens today as Curaleaf's 89^th dispensary in the U.S., and 30^th location in Florida, one of the nation's fastest-growing medical cannabis markets in the country. Earlier this month, Curaleaf opened its Clearwater location (2082 Gulf to Bay Blvd.) and will be announcing its 31^st Florida location in September. Like all Curaleaf dispensaries, these three new Tampa-area locations will provide patients with a destination for compassionate guidance, education, and a variety of high-quality cannabis products so they can consume cannabis with ease, clarity, and confidence.

Curaleaf is committed to serving the growing base of 394,000 registered medical patients in Florida, which is one of the nation's fastest-growing medical cannabis markets in the country. Earlier this month, Curaleaf began selling Select, America's #1 cannabis oil brand. Select Elite Live, which features high quality, high potency oil with a wide variety of strain-specific flavor and effects, quickly became a record-breaking best-selling product in the state. Curaleaf was also first-to-market with the launch of their discreet, berry-flavored Sublingual Tablets, a Florida market exclusive.

"Tampa is a unique and diverse community that we look forward to serving as Curaleaf expands our retail footprint in the market," said Joe Bayern, President at Curaleaf.  "Our South Tampa dispensary allows us to further build a sense of community with our patients and expands their access to high-quality brands like Select."

The opening of Curaleaf's new stores in Florida comes as the state begins its economic recovery from COVID-19, which pushed Florida's unemployment rate from 2.8% in February 2020 to 10.4% in June 2020. Each of the new dispensaries have hired an average of 11 employees, bringing the total number of jobs created by Curaleaf across the state to 722. According to Leafly, the cannabis industry is adding jobs at a rate of 15% per year, accounting for 16,000 Florida residents that are currently employed by the cannabis industry.

In response to COVID-19, Curaleaf offers curbside service upon request and contactless and cashless payment through approved credit and debit card services to keep patients, customers, and employees safe during this time. To see Curaleaf's dispensary locations in Florida, along with hours of operation and contact information, please visit www.curaleaf.com/locations/#florida.

About Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf") is a leading vertically integrated U.S. multi-state cannabis operator with a mission to improve lives by providing clarity around cannabis and confidence around consumption. As a high-growth cannabis company known for quality, expertise and reliability, the company and its brands, including Curaleaf and Select, provide industry-leading service, product selection and accessibility across the medical and adult-use markets. Curaleaf currently operates in 23 states with 89 dispensaries, 22 cultivation sites and over 30 processing sites, and employs over 3,000 people across the United States. Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information please visit www.curaleaf.com.

INVESTOR CONTACT
Curaleaf Holdings, Inc.
Dan Foley, VP, Finance and Investor Relations
IR@curaleaf.com

MEDIA CONTACT
Curaleaf Holdings, Inc.
Tracy Brady, VP Corporate Communications
media@curaleaf.com

FORWARD LOOKING STATEMENTS
This media advisory contains forward–looking statements and forward–looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward–looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as "plans", " expects" or, "proposed", "is expected", "intends", "anticipates", 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. More particularly and without limitation, this news release contains forward–looking statements and information concerning the retail expansion of Curaleaf in Florida. Such forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest annual information form filed September 23, 2019, which is available under the Company's SEDAR profile at www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

 

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SOURCE Curaleaf Holdings, Inc.

FAQ

What is the significance of Curaleaf's new dispensary in Tampa?

Curaleaf's new Tampa dispensary is part of its strategy to expand its retail footprint in Florida, aiming to serve the growing medical patient base.

How many dispensaries does Curaleaf operate in Florida?

Curaleaf now operates 30 dispensaries in Florida, contributing to its total of 89 dispensaries across the U.S.

What is the impact of Curaleaf's expansion on job creation in Florida?

The new dispensaries in Florida have collectively created 722 jobs, with an average of 11 employees per location.

What products will be available at the new Curaleaf Tampa dispensary?

The Tampa dispensary will offer best-selling Select products, including Select Elite Live cannabis oil and exclusive sublingual tablets.

When did Curaleaf open its Tampa dispensary?

Curaleaf opened its Tampa dispensary on August 27, 2020.