Curaleaf Announces Asset Divestitures in Maryland for $31.5 Million

Transactions Support the Optimization of Curaleaf’s Vertically Integrated Presence in Maryland

WAKEFIELD, Mass., Nov. 6, 2020 /PRNewswire/ — Curaleaf Holdings, Inc. (CSE: CURA, OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading vertically integrated cannabis operator in the United States, today announced a pair of planned asset divestitures in Maryland for a combined $31.5 million in total proceeds:

Entering into Definitive documentation to sell Curaleaf’s interests in HMS cultivation and processor for $27.5 million to TerrAscend Corp. (“TerrAscend”) (CSE:TER, OTCQX: TRSSF)

Closing of its sale of Cumberland, MD processor for $4.0 million

Curaleaf announced today the signing of a definitive agreement to sell its rights to the HMS Health LLC and HMS Processing LLC (“HMS”) assets in Maryland to TerrAscend for a total consideration of $27.5 million. The HMS asset sale includes the divestiture of operations in a 22,000 square foot co-located cultivation and processing facility in Frederick, MD. The total consideration due to Curaleaf of $27.5 million includes $25 million in cash due at closing as well as a $2.5 million interest bearing Note due and payable to Curaleaf on April 30, 2022. The transaction is expected to close pending customary closing conditions, including regulatory approval

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