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Curaleaf Holdings, Inc. (CURLF) is a prominent international provider of consumer cannabis products, known for its mission to enhance lives by sharing and celebrating the power of the plant. It operates under various brands like Curaleaf, Select, Grassroots, JAMS, Find, and Zero Proof in the medical and adult-use markets. With operations in over 15 countries globally, Curaleaf focuses on quality, expertise, and accessibility in the cannabis industry.
Recently, Curaleaf announced a strategic acquisition of Northern Green Canada, a licensed Canadian cannabis producer with a focus on international market expansion. This move aligns with Curaleaf's vision of becoming a global cannabis company with a strong presence in North America, Europe, and Australasia. The acquisition of NGC provides Curaleaf with EU-GMP certification, enabling the company to strengthen its supply chain, improve margins, and extend its global footprint.
Under the leadership of Boris Jordan, Executive Chairman, and Matt Darin, CEO, Curaleaf continues to drive growth and innovation within the cannabis space. The company's commitment to delivering high-quality products and patient access remains a top priority in evolving markets and regulatory environments.
Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF) will release its fourth quarter and fiscal year financial results for 2022 on May 1, 2023, after market close. A conference call is scheduled for the same afternoon at 5:00 p.m. ET, featuring a presentation followed by a Q&A session to discuss operational highlights. The company operates in 19 states across the U.S. and runs 152 dispensaries, employing nearly 5,500 staff. Curaleaf is recognized as a leading provider in the cannabis sector, emphasizing quality and accessibility in both medical and adult-use markets.
Interested parties can access a replay of the call until May 5, 2023. For more details about Curaleaf and its offerings, visit Curaleaf's investor relations site.
Curaleaf Holdings, Inc. announced a review by its Audit Committee, leading to adjustments in revenue figures for 2021 and 2022. The adjustments indicate a 1.25% reduction in 2021 revenue and a 0.75% reduction in 2022 revenue. The company anticipates its total revenue for 2022 to be approximately $1.337 billion, with the fourth quarter expected to generate around $352 million. As a result of the review, Curaleaf's previously reported financial statements for these periods will be restated, and reliance on previously issued financial results is discouraged. The company aims to enhance internal controls and ensure accurate reporting moving forward. Curaleaf is set to file its restated financial statements by May 1, 2023.
On April 17, 2023, Curaleaf Holdings announced that the New Jersey Cannabis Regulatory Commission (CRC) reversed its prior decision and approved the renewal of Curaleaf's adult use cannabis licenses following a legal challenge. This decision came after an earlier vote on April 13, which had denied the renewals. Curaleaf's CEO, Matt Darin, expressed that this was a significant victory for the company's 500 NJ employees, confirming their compliance with CRC requirements. The CRC's prior denial was amidst recommendations for renewal from its staff, highlighting no pending violations against Curaleaf. Additionally, the company will provide further details on its labor practices to maintain compliance with New Jersey laws. Curaleaf has generated substantial tax revenues and invested over $75 million in the state's cannabis industry.
Curaleaf Holdings, Inc. (OTCQX: CURLF) announced its disappointment over the New Jersey Cannabis Regulatory Commission's decision to deny the renewal of its cultivation and retail licenses for adult-use. The CRC Board overrode its own staff's recommendation for renewal, a move that Curaleaf's Chairman, Boris Jordan, argues is unfounded as the company has never faced a violation and is in good standing with the CRC. Curaleaf aims to resolve the situation and continue operations in New Jersey. The company emphasizes its commitment to legality and compliance, indicating plans to pursue all necessary means to renew its licenses and sustain its business in the state.
Curaleaf Holdings is expanding its presence in Florida by opening its 59th and 60th dispensaries, located in Boca Raton and West Palm Beach, respectively. The Boca Raton location is now operational, while the West Palm Beach site is expected to open by the end of April 2023, pending regulatory approvals. This expansion brings Curaleaf's total dispensary count to 151 nationwide. Additionally, starting April 21, the company will introduce its Grassroots brand in Florida, known for premium cannabis flower and pre-rolls. The Grassroots products will enhance the company’s portfolio and cater to a diverse range of cannabis consumers. Curaleaf emphasizes its commitment to customer loyalty through its revamped rewards program, allowing patients to earn points on purchases at any Curaleaf dispensary nationwide.
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