Curaleaf's SELECT Brand Expands into Illinois

Look out Illinois, America's favourite cannabis brand is heading your way.

Curaleaf Holdings, Inc. (CSE: CURA), a leading vertically integrated cannabis operator in the United States, announced today that it has expanded its award-winning line of Select Oil brand products to its 15th state, Illinois – the nation's second-largest adult-use market after California – starting with its Select Elite Live cannabis oil cartridges.

Select, America's #1 Cannabis Oil Brand, is a lifestyle brand that was acquired by Curaleaf in February 2020. Select creates a variety of high-quality products that can be found in over a thousand dispensaries across 15 states, including Arizona, California, Colorado, Connecticut, Florida, Illinois, Maryland, Michigan, Nevada, New York, Ohio, Oklahoma, Oregon, Massachusetts, and Maine. As an industry leader, Select takes pride in having some of the most stringent and progressive testing practices in the industry and is committed to continuous innovation to ensure our customers get the best cannabis experience possible.

Select Elite Live combines high-quality, high-potency THC oil with live resin extract derived from a fresh, frozen flower. Created with a proprietary formula, Elite Live is designed to capture the essence of the living plant with a higher terpene content when compared to a traditional distillate cartridge. The enhanced formula has quickly become a best-seller in every market where it has launched; in Florida alone, sales surpassed $1 million in less than one month. The oil is delivered by Select's unique cartridge technology, which helps to evenly distribute heat and deliver enhanced purity, flavour, and quality.

The Select brand has worked diligently to earn its place as an industry leader and is rapidly becoming the first nationally-recognized cannabis brand  Joe Bayern, President at Curaleaf.

Mr Bayern went on to say "Illinois is one of the largest adult-use cannabis markets in the country and one that has worked incredibly hard to address the need for reparation and normalization of our industry. We look forward to becoming part of the Illinois community, and serving the patients and consumers with the best in class cannabis consumer products available anywhere."

In July 2020, Curaleaf closed on its acquisition of Grassroots, giving the company the opportunity to continue developing innovative products and serving communities across the United States, including Grassroots' native state of Illinois. Select is slated to expand into Pennsylvania early next month. Both Illinois and Pennsylvania are among the largest and fastest-growing cannabis markets in the United States.

The Illinois Department of Revenue (IDOR) recently reported that, following the legalization of adult-use cannabis in the state on January 1, marijuana sales have been record-breaking month-over-month, contributing to the $100 million milestone of cannabis tax revenue collected.

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Mark Page
Mark Page

Mark is a UK born investing enthusiast based in Sydney. He has a keen eye for technical analysis and is paying close attention to the ongoing legalisation of cannabis for the health benefits, opportunities, and emergent industries that will follow.

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