Curaleaf Holdings, Inc. Launches Adult-Use Operations in Arizona
January 22, 2021 at 02:48 pm
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Curaleaf Holdings, Inc. announced it will begin serving adult-use consumers across its eight dispensaries in Arizona. Arizona became the 11th state to commence adult-use cannabis sales; the announcement comes after Proposition 207, the Smart and Safe Arizona Act (SSAA), passed by a majority vote last November. Under the new law, adults 21 years of age or older may use, possess, or transfer up to one ounce of cannabis. Adult-use purchases are subject to a 16% excise tax and the potential tax revenue, estimated to reach $166 million, will fund community colleges, infrastructure, public safety and public health programs. The SSAA also allows courts to vacate and expunge certain cannabis arrests, charges, adjudications, convictions, and sentences. In anticipation of customer demand, the Company expects to increase its current team of 420 employees by 120 new hires in the immediate future. Curaleaf is actively operating dispensaries in nine medical-only states and eleven states that permit medical cannabis and have allowed adult-use cannabis.
Curaleaf Holdings, Inc. is an international provider of consumer cannabis products. The Company and its brands, including Curaleaf, Select, Grassroots, JAMS, Find and Zero Proof provide selection and accessibility across the medical and adult use markets. It operates in approximately 17 states and owns and operates 147 dispensaries and 21 cultivation sites with a focus on states, including Arizona, Florida, Illinois, Massachusetts, New Jersey, New York and Pennsylvania. It cultivates, processes, markets and/or dispenses a range of permitted cannabis products across its operating markets, including flower and pre-rolls, dry-herb vaporizer cartridges, concentrates for vaporizing such as pre-filled vaporizer cartridges and disposable vaporizer pens, concentrates for dabbing, such as mints, topical balms and lotions, tinctures, lozenges, capsules and edibles. Through Curaleaf International Holdings Limited, it has a supply and distribution network throughout the European market.