Curaleaf International Launches Range of Medical Cannabis Products in Germany

Rhea-AI Summary

Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF) has launched medical cannabis products through its subsidiary Adven GmbH in Germany, the largest medical cannabis market in Europe. The initial offering features a high THC oil product, with plans to expand to more formulations throughout the year, addressing diverse patient needs. The German market for medical cannabis is projected to reach US$2.1 billion by 2025, highlighting significant growth opportunities for Curaleaf in Europe.

Positive

• Launch of medical cannabis products in Germany, tapping into Europe's largest market.
• Projected growth of the German medical cannabis market to US$2.1 billion by 2025.
• Plans for an expanded product line to meet various patient needs.

Negative

• None.

Poised for Rapid Growth in Europe's Largest Medical Cannabis Market

WAKEFIELD, Mass., May 11, 2021 /PRNewswire/ -- Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading international provider of consumer products in cannabis, today announced that wholly owned Curaleaf International subsidiary Adven GmbH ("Adven") has launched its own range of medical cannabis products in Germany, Europe's largest medical cannabis market.  The initial launch of a high THC oil product aims to meet immediate patient demand and will be extended over the course of the year to incorporate a number of different strengths and THC/CBD formulations in both oil and flower formats, addressing a wide range of patient needs. Germany is Europe's largest medical cannabis market and is expected to be worth US$2.1 billion by 2025¹.

Antonio Costanzo, CEO of Curaleaf International, said, "We are very pleased to bring our first medical cannabis products to market in Germany and, with the rapid extension of our product range in 2021, establishing ourselves as a leader in Europe's largest medical cannabis market. Curaleaf International's European supply chain, from cultivation to product research and development and EU-GMP manufacturing processes across Europe, means we are able to guarantee a consistency of product and price to clinicians and patients in need of the highest quality medical cannabis."

Julian Vaterrodt, Managing Director, Adven GmbH, added, "German patients and practitioners are increasingly demanding high-quality, consistent and reliable European natural alternatives to help manage a wide range of complaints.  Adven is committed to providing a differentiated product and service for the German market. We focus on providing a consistent supply of high-quality European medical cannabis and cutting-edge digital technologies to improve the patient and healthcare professional experience."

About Curaleaf International
Curaleaf International (formerly EMMAC Life Sciences Group) is Europe's largest vertically integrated cannabis company, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. With a unique supply and distribution network throughout Europe, Curaleaf International's vision is to bring the life-enhancing potential of cannabis to the people who need it. For more information about Curaleaf International, please visit https://www.curaleafinternational.com/. 

About Curaleaf Holdings
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf") is a leading international provider of  consumer products in cannabis 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. In the United States, Curaleaf currently operates in 23 states with 106 dispensaries, 23 cultivation sites and over 30 processing sites, and employs over 4,800 team members. Curaleaf International, is the largest vertically integrated cannabis company in Europe with a unique supply and distribution network throughout the European market, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. 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 https://ir.curaleaf.com.

Investor Contact:
Curaleaf Holdings, Inc.
Carlos Madrazo, SVP Head of IR and Capital Markets
IR@curaleaf.com

Media Contacts:
Curaleaf Holdings, Inc.
Tracy Brady, VP Corporate Communications
Media@curaleaf.com

Curaleaf International
Group Head of Marketing and Communications
Hannah Du Beke
hdb@emmac.com

Forward Looking Statements

This press release 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 Adven GmbH's ("Adven"), launch of medical cannabis products in Germany. 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 25, 2020, 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.

¹ Brightfield Group 2020

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SOURCE Curaleaf Holdings, Inc.

FAQ

What products did Curaleaf launch in Germany?

Curaleaf launched a range of medical cannabis products, starting with a high THC oil.

What is the significance of the German medical cannabis market for Curaleaf?

Germany is Europe's largest medical cannabis market, projected to reach US$2.1 billion by 2025.

What are the future plans for Curaleaf's product offerings in Germany?

Curaleaf plans to expand its product range to include various THC/CBD formulations throughout the year.

When did Curaleaf announce the launch of its products in Germany?

Curaleaf announced the launch on May 11, 2021.

What is the stock ticker for Curaleaf?

Curaleaf trades on the OTCQX market under the ticker CURLF.