Curaleaf Closes $300 Million 13% Debt Deal

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Curaleaf
Holdings,
Inc.
Announces
Upsizing
and
Closing
of
$300
Million
Senior
Secured
Term
Loan
Facility


Deal
Strengthens
Curaleaf’s
Balance
Sheet
and
Liquidity

WAKEFIELD,
Mass.,
Jan.
15,
2020
/PRNewswire/


Curaleaf
Holdings,
Inc.

(CSE:
CURA)
(OTCQX:
CURLF),
a
leading
vertically
integrated
cannabis
operator
in
the
United
States,
today
announced
the
upsizing
and
closing
of
a
Senior
Secured
Term
Loan
Facility
(the
“Facility”)
from
a
syndicate
of
lenders
totaling
US$300
million.
The
notes
bear
interest
at
a
rate
of
13.0%
per
annum,
payable
quarterly
in
arrears,
with
a
maturity
48
months
from
closing.

The
proceeds
will
be
used
to
refinance
existing
debt,
satisfy
transaction
fees
and
expenses
from
previously
announced
acquisitions,
fund
capital
expenditures
and
for
general
corporate
purposes.
The
sole
placement
agent
for
the
Facility
is
Seaport
Global
Securities
LLC.

We
are
pleased
with
the
upsizing
and
closing
of
the
deal
at
what
we
believe
to
be
attractive
terms. Most
importantly
we
strengthened
our
balance
sheet
without
diluting
our
existing
shareholders.

Joseph
Lusardi,
Chief
Executive
Officer
of
Curaleaf

With
the
completion
of
this
transaction,
we
have
ample
liquidity
to
execute
on
our
strategy
and
are
well-positioned
to
take
advantage
of
the
significant
market
opportunities
that
exist
in
this
space.


About
Curaleaf
Holdings

Curaleaf
Holdings,
Inc.
(CSE:
CURA)
(OTCQX:
CURLF)
(“Curaleaf”)
is
a
leading
vertically
integrated
multi-state
cannabis
operator
in
the
United
States.
It
is
a
high-growth
cannabis
company
with
a
national
brand
known
for
quality,
trust
and
reliability.
The
company
is
positioned
in
highly
populated,
limited
license
states,
and
currently
operates
in
12
states
with
52
dispensaries,
14
cultivation
sites
and
14
processing
sites.
Curaleaf
has
the
executive
expertise
and
research
and
development
capabilities
to
provide
leading
service,
selection,
and
accessibility
across
the
medical
and
adult-use
markets,
as
well
as
in
the
CBD
category
through
its
Curaleaf
Hemp
brand.


Original
Press
Release


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