Curaleaf Hldgs - CURLF STOCK NEWS

Curaleaf Holdings held its 2024 Annual General Meeting of Shareholders on June 14, 2024, via live webcast. A total of 1,741,506,378 votes were cast. Key decisions included the re-election of directors with high approval rates: Boris Jordan (98.515%), Joseph Lusardi (98.931%), Dr. Jaswinder Grover (99.906%), Karl Johansson (99.587%), Peter Derby (99.253%), Mitchell Kahn (98.736%), Shasheen Shah (99.848%), and Michelle Bodner (98.873%). Shareholders also approved the reappointment of PKF O'Connor Davies, LLP as the auditor and set the number of directors to 10. Detailed voting results are available on SEDAR+ and EDGAR.

KindlyMD announced a strategic collaboration with Curaleaf to expand medical cannabis education in Utah. The partnership aims to offer holistic pain management and alternative therapies. Community care events will be held throughout the summer at Curaleaf's medical cannabis pharmacies in Lehi, Provo, and Payson. These events aim to educate patients on medical cannabis as a safer, more affordable option for pain management. KindlyMD's Complete Care program will be introduced, offering easier access to medical cannabis care. This initiative aligns with efforts to combat the opioid crisis and promote sustainable healthcare options.

Curaleaf Holdings announced the launch of Select Fruit Stiq, a rechargeable 1G All-In-One cannabis oil vape with bold fruity flavors. The product features Berry, Citrus, and Tropical terpene blends and aims to provide a high-quality vape experience. Initially launched in Arizona, Utah, and Nevada, Select Fruit Stiq received positive feedback. Now, it's available in six flavors: Sweet Strawberry, Blackberry Blast, Lemon Sunset, Key Lime Tide, Watermelon Breeze, and Go Go Guava. The vape will expand to more states, including New Jersey, Florida, and Illinois, pending regulatory approvals, throughout the summer.

Curaleaf Holdings (CURLF), a major player in the cannabis sector, responded to the House Committee on Agriculture's approval of the Miller amendment to the 2018 Farm Bill. The amendment, introduced by Mary Miller (R-IL), aims to roll back the Farm Bill. Curaleaf's Executive Chairman, Boris Jordan, expressed disagreement with the amendment, emphasizing the company's support for hemp farmers and the importance of maintaining safety and age standards for hemp-derived products. Jordan advocated for a unified regulatory framework for all cannabinoids to combat illicit market dangers. Curaleaf remains committed to medical and adult-use cannabis consumers and community initiatives.

Curaleaf Holdings announced the opening of its Miami North Biscayne dispensary, marking its 62nd location in Florida and 146th nationwide. The dispensary, located at 2250 NE 163rd St. Suite 1, North Miami Beach, FL, opened to licensed medical patients on May 21 and will operate daily with varying hours. A grand opening is scheduled for June 1, featuring a ribbon-cutting ceremony and exclusive deals. The new store will offer a wide range of products, including Grassroots craft flower and Select Briq vapes, with plans to introduce new items pending regulatory approval. Curaleaf's loyalty program allows patients to earn points on purchases, redeemable for future savings.

Curaleaf reported first quarter 2024 revenue of $339 million, a 2% year-over-year increase, with an adjusted gross margin of 48%. Adjusted EBITDA was $77 million, representing 23% of revenue. The company ended the quarter with $105 million in cash and generated $46 million in operating cash flow and $33 million in free cash flow. Key highlights include the acquisition of Northern Green Canada, expanding market presence in Europe, and successful brand expansion in the U.S..

Curaleaf completes the acquisition of Northern Green Canada, enhancing its presence in key emerging markets such as Australia, New Zealand, Germany, Poland, and the United Kingdom. The acquisition provides Curaleaf with a secure supply of high-quality EU-GMP certified flower, strengthening its position in Europe and enabling entry into new markets.

Curaleaf Holdings, Inc. will report its Q1 2024 financial results on May 9, 2024, followed by a conference call and webcast. Interested individuals can access a replay of the call until May 16, 2024.

Curaleaf Holdings, Inc. acquires Northern Green Canada to strengthen its supply chain in key international markets, including Germany, Poland, U.K., Australia, and New Zealand. This strategic move enhances Curaleaf's presence in the EU-GMP certified market, particularly in Germany, and expands its global footprint across three continents. The acquisition is expected to increase Curaleaf's margins, secure a high-quality flower supply, and position the company as a global leader in the cannabis industry.