Curaleaf to Enter European Cannabis Market with Acquisition of EMMAC Life Sciences Limited - Europe's Leading Independent Cannabis Company
EMMAC Brings the Largest Vertically Integrated Independent Cannabis Company in Europe with a Presence in Key European Medical Cannabis Markets, Including the United Kingdom, Germany, Italy, Spain, and Portugal
With the European Population of Nearly 748 Million
1, the Potential Addressable Market is More than Twice the Size of U.S. Market
10 March, London.
EMMAC Life Sciences Group, Europe's largest independent cannabis company, is pleased to announce that it is has signed a definitive agreement to be acquired by
Curaleaf Holdings, Inc.
(CSE: CURA) (OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading U.S. provider of consumer products in cannabis, for a base consideration of approximately US$285 million to be paid in 85%/15% Curaleaf shares and cash. Contingent consideration of up to $57 million will be paid in Curaleaf shares and cash in the same ratio based upon the successful achievement of performance milestones. The proposed transaction provides Curaleaf with a developed platform for entry into the European cannabis market.