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U.S. Marijuana Dispensary Chain Goes Public

Dispensary IPO

Curaleaf, a leading marijuana company in the U.S. with a footprint that spans 12 states and comprises of 28 dispensaries, 12 cultivation facilities and 9 processing sites, announced that as of Oct 29 they will begin trading on the Canadian Securities Exchange under the ticker symbol CURA.

“Listing on the Canadian Securities Exchange is a critical step in our growth trajectory,” the CEO of Curaleaf stated. “We are excited to make our mark within cannabis financing history through the overwhelming support of over 100 institutions internationally. We remain committed to growing our business through aggressive organic growth and the strategic deployment of capital into accretive acquisitions that extend our brand into the most attractive U.S. markets.”

Curaleaf’s stock (CURA) opened at $8.70 per share on Oct 29, quickly jumped to $10.79, and has slowly dropped into the low $7 range, as of midday.

The company operates in Arizona, Connecticut, Florida, Maine, Maryland, Massachusetts, Nevada, New Jersey, New York and Oregon, with licensing pending in California and Pennsylvania.

In connection with the listing, Curaleaf raised approximately C$520 million (US$400 million) in an oversubscribed private placement offering. This offering marks the largest cannabis equity financing completed to date.

Photo: goo.gl/ibu6LQ



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