The company previously announced its plans to acquire Acres Cannabis, a vertically integrated company with cultivation and production facilities and dispensaries, back in March.
The company announced the purchase price is set to $70 million, consisting of $25 million paid in cash, and the remaining $45 million in Curaleaf stock. The purchase includes Acres’ two dispensaries, one located in the heart of Las Vegas, and the other in Ely, Nevada.
With the new addition, Curaleaf now holds two cultivation facilities, two processing sites, and two dispensaries based in Las Vegas, and one retail location in Ely that should launch during the second quarter of 2020.
Curaleaf’s stock closed Friday’s session 0.81% higher at $6.25 per share.
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