Curaleaf Enters Into Lock-Up Agreement

Curaleaf Holdings has agreed to enter into a lock-up agreement after it's acquisition of Select.

Curaleaf Holdings, Inc. (CSE: CURA), a leading vertically integrated cannabis operator in the United States, today announced that all shareholders holding individually more than 1% of Curaleaf's shares outstanding and all Cura Partners, Inc. shareholders have agreed to an amended lock-up agreement in connection with the anticipated closing of Curaleaf's acquisition of Select. After closing, approximately 62% or 326.7 million of the Company's outstanding shares will be subject to the extended lock-up agreements.

As previously announced, the Company's largest shareholders and the Select shareholders agreed to a lock-up release schedule that provided for a quarterly release of 15% of each participant's shares. The revised lock-up agreement provides that after the close of the acquisition only 5% of each participant's holding will be released on the last day of each calendar quarter starting with March 31, 2020.

The amended and extended lock-up agreement signifies the continued support of our shareholders and their confidence in Curaleaf.  Executive Chairman of Curaleaf, Boris Jordan

Mr. Jordan went on to say that "The revised lock-up ensures the orderly increase in the Company's freely traded shares and further reduces uncertainty regarding the release of shares. Moreover, the largest shareholders holding 71% of the currently outstanding shares have not disposed of their holdings and confirm their current intent to hold their shares despite the partial release from lock-up."

To learn more about Curaleaf, visit their company HQ here.

Disclaimer: Past performance is not an indicator of future performance.

Get the Latest Marijuana News &
Content in your Inbox!

All your support helps The Green Fund keep writing content for all you
marijuana enthusiasts and potential pot stock investors

Louis O'Neill
Louis O'Neill

Louis is a writer based in Sydney with a focus on social and political issues. Having interviewed local politicians and entrepreneurs, Louis now focuses on cannabis culture, legislation & reform.

Leave a Reply

Your email address will not be published. Required fields are marked *