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Meet the lawmakers, regulators, executives, and investors shaping the future of New York s cannabis industry.
New York legalized cannabis on March 31 and sales are expected to start in 2022.
New York legalized cannabis for adults over the age of 21 in March, setting off a gold rush for companies looking to take advantage of the potentially $7 billion market in the US s financial capital.
Right now, there are only ten cannabis licenses in the state s medical market, and the companies that own each license will look to quickly transition from New York s relatively limited medical market to the recreational market.
Curaleaf Holdings, Inc. (CSE:CURA) (OTCQX:CURLF) has purchased EMMAC Life Sciences
The Wakefield, Massachusetts-based company said Wednesday it has completed the previously announced acquisition of one of the largest cannabis companies in Europe.
Transaction Details: Under the deal, Curaleaf agreed to pay $50 million in cash and 17.5 million in stock worth roughly $260 million. The company plans to pay additional consideration to EMMAC stakeholders upon the achievement of particular performance milestones.
To boost its European footprint further, while holding its EMMAC investment, Curaleaf has created Curaleaf International Holdings Limited on the island of Guernsey.
In addition, the company has teamed up with an institutional investor to secure $130 million in financing for further expansion of Curaleaf International. The new investment brings Curaleaf International to a $413 million post-money valuation, with $80 million in cash.
Curaleaf Completes Acquisition of EMMAC and Secures US$130 Million Investment from a Single Strategic Institutional Investor
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EMMAC brings vertically integrated operations in Europe with a presence in key medical cannabis markets, including the UK, Germany, Italy, Spain, and Portugal
Strategic investor to fund cash portion of acquisition and Curaleaf s growth initiatives in Europe
WAKEFIELD, Mass., April 7, 2021 /PRNewswire/
Curaleaf Holdings, Inc. (CSE: CURA /OTCQX: CURLF) ( Curaleaf or the Company ), a leading international provider of consumer products in cannabis has successfully completed the previously announced acquisition of EMMAC Life Sciences Limited ( EMMAC ), the largest vertically integrated independent cannabis company in Europe, for base consideration of approximately US$50 million in cash and 17.5 million shares of Curaleaf, with additional consideration to be paid based upon the successful achievement
Curaleaf Completes Acquisition of EMMAC and Secures US$130 Million Investment from a Single Strategic Institutional Investor
Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF) (âCuraleafâ or the âCompanyâ), a leading international provider of consumer products in cannabis has successfully completed the previously announced acquisition of EMMAC Life Sciences Limited (âEMMACâ), the largest vertically integrated independent cannabis company in Europe, for base consideration of approximately US$50 million in cash and 17.5 million shares of Curaleaf, with additional consideration to be paid based upon the successful achievement of performance milestones. Curaleaf has simultaneously established Curaleaf International Holdings Limited (âCuraleaf Internationalâ) in Guernsey to hold the EMMAC investment and further its European expansion.