WAKEFIELD, Mass., Oct. 21, 2019 /CNW/ — Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf” or “the Company”), a top vertically integrated cannabis operator in the United States, these days announced that its core shareholders representing around 75% of the issued and outstanding shares of the Business have entered into an amended and extended lock-up agreement. Given that the Company’s reverse takeover transaction in October 2018, all shareholders holding individually much more than 1% of the issued and outstanding shares have been topic to lock-up agreements.
The core shareholders have voluntarily agreed to an extended lock-up release schedule, which limits the quantity of shares released as of these days to 15% of previously locked-up shares. Going forward, an extra 15% of the locked-up shares will unlock on the final day of each and every subsequent calendar quarter, with the final 10% to unlock on March 31, 2021.
Executive Chairman Boris Jordan commented, “The extension of the lock up agreements by Curaleaf’s core shareholders signals their ongoing help for the Business. We anticipate the new lock-up release schedule to minimize uncertainty relating to the release of at present locked-up shares and give for a more orderly enhance in the readily available float in the Company’s shares. Nonetheless, the core shareholders have all expressed their existing intention not to sell any shares regardless of the partial release from lock up. As announced on October three, I myself lately improved my shareholding.”
About Curaleaf Holdings
Headquartered in Wakefield, Massachusetts, Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf”) is the top vertically integrated multi-state cannabis operator in the United States. It is a higher-development cannabis organization with a national brand identified for high quality, trust and reliability. The organization is positioned in hugely populated, restricted license states, and at present operates in 12 states with 49 dispensaries, 14 cultivation web sites and 13 processing web sites. Curaleaf has the executive experience and analysis and improvement capabilities to give top service, choice, and accessibility across the healthcare and adult-use markets, as nicely as in the CBD category via its Curaleaf Hemp brand.
Investor Speak to:
Dan Foley, VP, Corporate Finance and Investor Relations
Media Speak to:
Megan Bishop, SVP
FORWARD Seeking STATEMENTS
This news release includes forward‐looking statements and forward‐looking facts inside the which means of applicable securities laws. These statements relate to future events or future overall performance. All statements other than statements of historical reality might be forward‐looking statements or facts. Commonly, forward-seeking statements and facts might be identified by the use of forward-seeking 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 specific actions, events or outcomes might, could, would, or may happen or be accomplished. A lot more specifically and with out limitation, this news release includes forward‐looking statements and facts regarding contractual lock-up arrangements entered into by specific shareholders of the Business in favor of the Business, and their existing intentions relating to the holding and disposition of their Subordinate Voting Shares or Many Voting Shares. Such forward-seeking statements and facts reflect management’s existing beliefs and are primarily based on assumptions created by and facts at present readily available to the organization with respect to the matter described in this new release. Forward-seeking statements involve dangers and uncertainties, which are primarily based on existing expectations as of the date of this release and topic to identified and unknown dangers and uncertainties that could lead to actual outcomes to differ materially from these expressed or implied by such statements. Added facts about these assumptions and dangers and uncertainties is contained beneath “Risk Things and Uncertainties” in the Company’s most current annual facts kind filed September 23, 2019, which is readily available beneath the Company’s SEDAR profile at www.sedar.com, and in other filings that the Business has created and might make with applicable securities authorities in the future. Forward-seeking statements contained herein are created only as to the date of this press release and we undertake no obligation to update or revise any forward-seeking statements whether or not as a outcome of new facts, future events or otherwise, except as needed by law. We caution investors not to spot considerable reliance on the forward-seeking statements contained in this press release.
The Canadian Securities Exchange has not reviewed, authorized or disapproved the content material of this news release.
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