Curaleaf Raises $31.5 Million From Asset Sales

Curaleaf (OTC: CURLF) is about to pocket $31.5 million from the sale of two sets of assets it owns, the marijuana company announced Friday. Both are located in Maryland, and are being divested in a pair of distinct transactions.

The first deal is for rights to assets held by HMS Health and HMS Processing, which the company said includes operations in a cultivation and processing facility in the municipality of Frederick. The buyer is Canada-based cannabis company TerrAscend (OTC: TRSSF). Curaleaf will receive $25 million in cash from TerrAscend when the deal closes, plus a $2.5 million interest-bearing note payable at the end of April 2022.

Image source: Getty Images.

Continue reading

Source Fool.com