Curaleaf Holdings Inc (OTCMKTS:CURLF) Agrees To Takeover Cannabis Cultivation Facilities And Extraction Labs Of Acres Cannabis

Curaleaf Holdings Inc (OTCMKTS:CURLF) Agrees To Takeover Cannabis Cultivation Facilities And Extraction Labs Of Acres Cannabis

Curaleaf Holdings Inc (OTCMKTS:CURLF) has entered a pact to take over Nevada based Cannabis cultivation, extraction labs, production facilities and dispensaries of Acres Cannabis. The deal is valued at $70 million. Established in 2014, Acres Cannabis cultivates cannabis in Nevada based 37-acre farm.

Additional cannabis facilities

Acres Cannabis manages cultivation facilities that span an area of 269,000 Sq. ft. The company also operates a single dispensary that spans 19,000 Sq. ft. It also plans to build additional cultivation facilities (133,000 Sq. ft.). Acres Cannabis will also construct another dispensary in Ely, Nevada. It is also planning for the annual production of 100,000 pounds of dry flower. The takeover creates a vertical integration for Curaleaf. John Mueller, Director and Chief Executive Officer, is managing Acres Cannabis.

Inaugurates Gainesville Dispensary

Curaleaf has inaugurated the Gainesville Dispensary as part of its expansion plans in Florida. It comprises a community meeting room and two private consultation rooms on an area of 1,100 Sq. Ft. The community members, doctors, and local patients can attend monthly educational events in April. Military veterans, pediatric patients, senior citizens, and the recipients of financial help from the government can enjoy the discounts throughout the year.

The company already maintains a large footprint of cannabis dispensaries in the US. Chief Executive Officer of Curaleaf, Joe Lusardi said the company has converted the fulfillment center into the full service dispensary to cater to the growing demand from patients in Gainesville. The patients in Alachua Country can enjoy educational resources and excellent customer service. They will also get access to quality medical marijuana.

Opens 23rd Dispensary in Florida

Curaleaf has opened 23rd dispensary in Florida. CEO of Curaleaf said it is part of the company’s efforts to improve the lives of patients by offering high quality and safe to use cannabis products. The company also introduced the second drive-thru to offer access to medical cannabis in Orlando. The drive-thru concept offers an added convenience and benefit to the patients.

Lusardi said the company can offer quality medical cannabis products to the patients in Miami understanding their debilitating conditions. It fulfills the online orders through free delivery service.

Published at Fri, 29 Mar 2019 12:01:15 +0000

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