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BRIEF-Curaleaf To Acquire Select, A Cannabis Wholesale Brand In The U.S.

Published 2019-05-01, 07:41 a/m
© Reuters.  BRIEF-Curaleaf To Acquire Select, A Cannabis Wholesale Brand In The U.S.

May 1 (Reuters) - Curaleaf Holdings Inc CURA.CD :

* CURALEAF TO ACQUIRE SELECT, THE LEADING CANNABIS WHOLESALE BRAND IN THE U.S.

* CURALEAF HOLDINGS INC - ALL-STOCK TRANSACTION VALUED AT C$1.27 BILLION OR US$948.8 MILLION

* CURALEAF HOLDINGS INC - POST-TRANSACTION, CURA WILL HAVE APPROXIMATELY 16% PRO FORMA OWNERSHIP OF CURALEAF ON A FULLY-DILUTED BASIS.

* CURALEAF - EQUITY HOLDERS WILL BE ELIGIBLE TO RECEIVE AN EARN-OUT OF UP TO US$200 MILLION FROM ISSUANCE OF ADDITIONAL SUBORDINATED VOTING SHARES

* CURALEAF HOLDINGS - CURALEAF WILL ACQUIRE OUTSTANDING EQUITY SECURITIES OF CURA THROUGH ISSUANCE OF APPROXIMATELY 95.6 MILLION SUBORDINATED VOTING SHARES

* CURALEAF HOLDINGS INC - IMMEDIATELY UPON CLOSE, CAMERON FORNI WILL JOIN CURALEAF AS PRESIDENT OF SELECT

* CURALEAF HOLDINGS INC - FORNI WILL JOIN CURALEAF BOARD OF DIRECTORS, EXPANDING BOARD TO SIX MEMBERS

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