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Monday, September 21, 2020

Curaleaf Holdings Inc (OTCMKTS:CURLF) Continues to Dominate the Sunshine State

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Curaleaf Holdings Inc (OTCMKTS:CURLF) just announced the opening of its 28th Florida dispensary at 1435 South Tamiami Trail in Sarasota. Curaleaf has the largest cannabis dispensary footprint in the US with 51 dispensaries across the country and continues to execute on its strategy of rapid expansion in Florida.

According to the release, the 3,900 square foot location will be open 7 days a week – Monday to Saturday from 10am – 7pm and on Sundays from Noon – 5pm – serving patients throughout the Sarasota area, including Siesta Key, Longboat Key, Sarasota Springs and Kensington Park.

Curaleaf Holdings Inc (OTCMKTS:CURLF) promulgates itself as a company that operates as an integrated medical and wellness cannabis operator in the United States.

The Company is the parent of Curaleaf, Inc., a leading vertically integrated cannabis operator in the United States. Headquartered in Wakefield, Massachusetts, Curaleaf, Inc. has a presence in 12 states.

Curaleaf, Inc. operates 30 dispensaries, 12 cultivation sites and 9 processing sites with a focus on highly populated, limited license states, including Florida, Massachusetts, New Jersey and New York. Curaleaf, Inc. leverages its extensive research and development capabilities to distribute cannabis products in multiple formats with the highest standard for safety, effectiveness, consistent quality and customer care. Curaleaf is committed to being the industry’s leading resource in education and advancement through research and advocacy.

Curaleaf Inc.’s Florida operations were the first in the cannabis industry to receive the Safe Quality Food certification under the Global Food Safety Initiative, setting a new standard of excellence.

It cultivates, processes, markets, and/or dispenses a range of cannabis products in various operating markets, including flower, pre-rolls and flower pods, dry-herb vaporizer cartridges, concentrates for vaporizing, concentrates for dabbing, tinctures, lozenges, capsules, and edibles.

The company also provides non-cannabis services to licensed cannabis operators in the areas of cultivation, extraction and production, and retail operations. As of November 01, 2018, it operated a network of 29 dispensaries. The company was founded in 2010 and is headquartered in Wakefield, Massachusetts.

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As noted above, CURLF just announced the opening of its 28th Florida dispensary at 1435 South Tamiami Trail in Sarasota. Curaleaf has the largest cannabis dispensary footprint in the US with 51 dispensaries across the country, and continues to execute on its strategy of rapid expansion in Florida.

Recent action has seen 23% tacked on to share pricing for the stock in the past month. In addition, the name has seen interest climb, with an increase in recent trading volume of 12% beyond its prior sustained average level.

According to the release, “Curaleaf will be launching a series of weekly seminars on cannabinoids for local patients, physicians and community members in Sarasota, and team members will be available for free private consultations for new patients needing assistance registering with Florida’s Department of Health. The State of Florida’s Office of Medical Marijuana Use Registry requires an order from a qualified Florida ordering physician and a State of Florida medical marijuana card to obtain medical marijuana products.”

Now commanding a market cap of $2.2B, CURLF has a significant war chest ($120.8M) of cash on the books, which compares with about $98.5M in total current liabilities. One should also note that debt has been growing over recent quarters. CURLF is pulling in trailing 12-month revenues of $235.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 192.3%. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $CURLF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $CURLF, either long or short, and we have not been compensated for this article.

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