CURLF stock is gaining momentum in Tuesday’s session after Curaleaf Holdings (CSE:CURA) (OTCQX:CURLF) announced an acquisition to open its sixth dispensary in Arizona.
As far as big cannabis companies are concerned, Curaleaf remains in a league of its own and as a vertically integrated company; it has grown significantly over the past few years.
CURLF Stock Up on Acquisition of Sixth Dispensary
In a new development, Curaleaf has signed an exclusive licensing agreement with Arizona-based Absolute Healthcare, by way of which Curaleaf will have exclusive rights to run the Emerald dispensaries. The license will allow Curaleaf to sell their products in Arizona and considering the fact that Emerald is the only dispensary in Gilbert to have a license, it makes for a particular sound move for the company.
In Arizona, Emerald is one of the most trusted names and holds a monopoly in the Phoenix area. It is a cannabis dispensary that has done business for a long time and has supplied medical cannabis to as many as 44,000 patients over the past five years.
CURLF stock is up 1% on the OTC market and now trading at $9.91. While, CURA stock is up 0.80% at $13.15 on the CSE.
Curaleaf Recent Notable Acquisitions
Curaleaf has been making big moves over recent weeks and earlier this month, Curaleaf made a big play on cannabis oil. Curaleaf is the biggest and most valuable marijuana company in the United States, which is why the investment could make it possible for the company to corner another highly lucrative market. Curaleaf decided to purchase Cura Partners Inc, a company that is engaged in manufacturing cannabis oil, in a deal worth $950 million USD in an all-stock transaction.
The acquisition places the company squarely in a dominant position in the cannabis oil segment and considering the fact that Cura had as many as 900 dispensaries and recorded revenues of $117 million, it could well propel Curaleaf to new heights in its industry.
Last but not least, Curaleaf also made a deal with Ohio Grown Therapies earlier this month that will allow them to enter the exploding cannabis market in the state of Ohio. The company owns key licenses pertaining to procession and cultivation in the state and following the acquisition, Curaleaf will probably be the owners of those. However, the deal is subject to the successful transfer of those licenses.
CURLF stock has been gradually moving up since the beginning of this year. The stock is up almost 95% since early January.
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