Acquisition Closed for Cannabis Operator

Acquisition Closed for Cannabis Operator

By: Dylan Sikes – News

Monday, April 10, 2023

The many uses of cannabis include recreational, medicinal and pain relief. And this company is expanding its presence in key markets. 

Leading provider of consumer cannabis products Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) announced the completion of its previously announced acquisition of Deseret Wellness in a press release today. Deseret is the largest cannabis retail operator in Utah and following the close of the Transaction, Curaleaf's retail footprint has increased to four dispensaries in Utah and 150 nationwide.

Boris Jordan , Executive Chairman of Curaleaf, said, "Deseret is an excellent strategic fit for Curaleaf as we continue to expand our retail footprint in key emerging markets. This transaction enables to better serve Utah's rapidly expanding medical program, which recorded a record-breaking US$118.7 million in sales last year.”

U.S.listed shares were trading at $2.34 in afternoon trade.

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