STAMFORD, Conn. — Curaleaf Holdings Inc., a leading international provider of consumer cannabis products, completed a new $40 million revolving credit facility with a major commercial regional bank. The credit line will be available to be drawn down as needed for general corporate purposes and working capital needs.
Boris Jordan, Curaleaf Chairman and Chief Executive Officer, commented, “In my first few months in my new role as CEO, I’ve been focused on cost-savings measures across every facet of the business, with the intent of driving profitable growth. With our new revolving credit facility, we will have an opportunity to better support various business needs across the globe. This is a milestone event for Curaleaf as this credit line provides flexibility traditionally not available to the cannabis sector, and allows us to continue growing Curaleaf as the leader of the global cannabis industry during what continues to be a difficult capital raising environment.”
The new two-year secured revolving credit facility has a maturity date of December 15, 2026. Borrowings under the facility bear interest on any outstanding principal of 7.99%.
About Curaleaf Holdings
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) is a leading international provider of consumer products in cannabis with a mission to enhance lives by cultivating, sharing and celebrating the power of the plant. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf, Select, Grassroots, JAMS, Find, The Hemp Company and Zero Proof provide industry-leading service, product selection and accessibility across the medical and adult use markets. Curaleaf International is the largest vertically integrated cannabis company in Europe with a unique supply and distribution network throughout the European market, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. Curaleaf is listed on the Toronto Stock Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF.
