Curaleaf cancels acquisition of Cannabist assets

Mr. Camilo Lyon reports CURALEAF ANNOUNCES TERMINATION OF EQUITY PURCHASE AGREEMENT WITH THE CANNABIST COMPANY Curaleaf Holdings Inc. has terminated its binding commitment to acquire The Cannabist Company Holdings Inc.'s Virginia assets. A competing bid valued the Virginia assets at $130-million plus the assumption of a $30-million lease liability. After a rigorous due diligence process, the company determined that this amount exceeded the rational fair value for the assets. As noted in its release dated Dec. 2, Curaleaf expects to receive a break fee of $3.3-million upon cancellation of its original binding commitment. Curaleaf will continue to be opportunistic and disciplined in its acquisition strategy. About Curaleaf Holdings Inc. Curaleaf Holdings 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, Find, Anthem and The Hemp Company, provide industry-leading service, product selection and accessibility across the medical and adult-use markets. Curaleaf International is powered by a strong presence in all stages of the supply chain. Its unique distribution network throughout Europe, Canada and Australasia brings 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. We seek Safe Harbor.