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‘It Pays to be Vertical,’ Curaleaf CEO Tells Cannabis Capital Conference

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The topic on everyone’s minds at Benzinga’s Cannabis Capital Conference Wednesday in Miami Beach was how to maintain an edge and maximize profits as a market still in its infancy faces explosive growth amid political uncertainty.

On hand to offer his expertise was Curaleaf Holdings Inc CEO Joseph Lusardi, arguably one of the largest multistate operators in the space — the company holds licenses in 11 states. During a fireside chat moderated by 420 Investor Alan Brochstein, Lusardi told the crowd: “It pays be to be vertical.”

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Curaleaf Media page

Multistate Cannabis Operators Rapidly Expanding Into New Markets

By | Media

The fragmented, state-by-state nature of the marijuana industry historically has been dominated by small, local players, but larger, publicly traded companies with multistate operations are becoming an increasingly prevalent force.

Rapid consolidation and expansion among cannabis companies dominated 2018 with more than 300 mergers and acquisitions and a rash of reverse takeovers that allowed U.S. companies to go public in Canada, where marijuana is federally legal.

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Cannabis Stocks Post Longest Run of Weekly Gains Since August

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Pot stocks marked their third consecutive week of gains last week, the longest such winning streak since August, riding high on the broader market’s upbeat mood. This week, we’ll get a better idea of just how big the global cannabis market could get, along with a host of other potential catalysts.

Not even an earnings miss and further drama from Aphria Inc. could derail the optimism last week. The company announced Friday that Chief Executive Officer Vic Neufeld will step down in the coming months but will remain on the board following a short-seller report that alleged Aphria bought assets at inflated prices from insiders. Aphria has now recouped much of its loss from the Dec. 3 report, including a 5.4 percent gain on Friday.

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Curaleaf Plans Acquisition of Two Other Maryland Cannabis Businesses

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National cannabis firm Curaleaf Holdings Inc. is plotting expansions in Maryland through multiple acquisition deals.

Curaleaf announced agreements with the owners of HMS Health LLC, who operate growing and processing businesses in Frederick County and two dispensaries in Montgomery County, as well as the Elevate Takoma dispensary in Montgomery County.

The cannabis firm is headquartered in Massachusetts and currently operates 38 dispensaries, 12 growing sites and 10 processing sites across 12 states. Curaleaf has one of the largest footprints of any multi-state cannabis company, with a market capitalization of about $2.7 billion, according to Yahoo Finance.

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