Over the past year or so, Curaleaf Holdings (CSE:CURA) (OTCQX:CURLF) has emerged as one of the more interesting companies in the cannabis space, and today Curaleaf stock is trading higher in the morning session after the company made an important announcement.
Key Details
In a new development, the company announced that starting from March 16, Khadijah Tribble is going to take over as the Vice President of Corporate Social Responsibility. Tribble is a well-regarded executive with a proven track record in the areas of inclusion and equity in the cannabis industry. She will work with the Chief Marketing Officer, Jason White, and work towards building a high impact ecosystem at Curaleaf.
However, that is not all. There have been other important developments at Curaleaf Holdings in recent days as well. Last week, the company announced that it agreed to acquire the cannabis edibles maker BlueKudu. BlueKudu makes edibles for both recreational and medical uses. While the financial details of the deal were not disclosed, it is a significant acquisition for Curaleaf.
Curaleaf stock is now up by 7% to C$6.15.
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BlueKudu was established in 2011, and since then, the company has managed to become one of the leading names in the cannabis industry. Its products are meant for the higher end of the market, and the acquisition gives Curaleaf a major foothold on a segment that can be particularly lucrative.
Sale and Leaseback Deal
In February, Curaleaf Holdings announced sale and leaseback deals for as many as 10 of its properties with NewLake Capital Partners.
By way of the deals, Curaleaf is going to be able to generate $20 million. According to the terms, six properties were to be handed over to NewLake at the beginning, and the remaining four properties are going to be handed over within 45 days.
Curaleaf stock has fallen about 25% since the beginning of the new year.
Featured image: Canva
