The new revolving line of credit will support
ongoing working capital needs
STAMFORD, Conn., Nov. 6, 2024
/PRNewswire/ -- Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF)
("Curaleaf" or the "Company"), a leading international provider of
consumer cannabis products, today announced it successfully
completed a new $40 million revolving
credit facility with a major commercial regional bank. The credit
line will be available to be drawn down as needed for general
corporate purposes and working capital needs.
Boris Jordan, Curaleaf Chairman and Chief Executive
Officer, commented, "In my first few months in my new role as CEO,
I've been focused on cost-savings measures across every facet of
the business, with the intent of driving profitable growth. With
our new revolving credit facility, we will have an opportunity to
better support various business needs across the globe. This is a
milestone event for Curaleaf as this credit line provides
flexibility traditionally not available to the cannabis sector, and
allows us to continue growing Curaleaf as the leader of the global
cannabis industry during what continues to be a difficult capital
raising environment."
The new two-year secured revolving credit facility has a
maturity date of December 15, 2026.
Borrowings under the facility bear interest on any outstanding
principal of 7.99%.
About Curaleaf Holdings
Curaleaf Holdings, Inc. (TSX:
CURA) (OTCQX: CURLF) ("Curaleaf") is a leading international
provider of consumer products in cannabis with a mission to enhance
lives by cultivating, sharing and celebrating the power of the
plant. As a high-growth cannabis company known for quality,
expertise and reliability, the Company and its brands, including
Curaleaf, Select, Grassroots, JAMS, Find, The Hemp Company and Zero
Proof provide industry-leading service, product selection and
accessibility across the medical and adult use markets. Curaleaf
International is the largest vertically integrated cannabis company
in Europe with a unique supply and
distribution network throughout the European market, bringing
together pioneering science and research with cutting-edge
cultivation, extraction and production. Curaleaf is listed on the
Toronto Stock Exchange under the symbol CURA and trades on the
OTCQX market under the symbol CURLF. For more information, please
visit https://ir.curaleaf.com.
Forward Looking Statements:
This media advisory
contains forward-looking statements and forward-looking information
within the meaning of applicable securities laws. These statements
relate to future events or future performance. All statements other
than statements of historical fact may be forward–looking
statements or information. Generally, forward-looking statements
and information may be identified by the use of forward-looking
terminology such as "plans", "expects" or "proposed", "is
expected", "intends", "anticipates", or "believes", or variations
of such words and phrases, or by the use of words or phrases which
state that certain actions, events or results may, could, would, or
might occur or be achieved. More particularly and without
limitation, this news release contains forward-looking statements
and information concerning its new revolving credit facility. Such
forward-looking statements and information reflect management's
current beliefs and are based on assumptions made by and
information currently available to the company with respect to the
matter described in this new release. Forward-looking statements
involve risks and uncertainties, which are based on current
expectations as of the date of this release and subject to known
and unknown risks and uncertainties that could cause actual results
to differ materially from those expressed or implied by such
statements. Additional information about these assumptions and
uncertainties is contained under "Risk Factors and Uncertainties"
in the Company's latest annual information form filed on
March 6, 2024, which is available
under the Company's SEDAR profile at http://www.sedar.com, and
in other filings that the Company has made and may make with
applicable securities authorities in the future. Forward-looking
statements contained herein are made only as to the date of this
press release and we undertake no obligation to update or revise
any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by law.
We caution investors not to place considerable reliance on the
forward-looking statements contained in this press release. The
Toronto Stock Exchange has not reviewed, approved or disapproved
the content of this news release.
Contacts:
Investor Contact:
Curaleaf Holdings, Inc.
Camilo Lyon, Chief Investment
Officer
IR@curaleaf.com
Media Contact:
Curaleaf Holdings, Inc.
Jordon Rahmil, VP Public Relations
media@curaleaf.com
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SOURCE Curaleaf Holdings, Inc.