Curaleaf To Fund Maryland Growth With $31.5M Pot Asset Sale

Law360 (November 6, 2020, 4:10 PM EST) -- Pot giant Curaleaf on Friday said it will sell $31.5 million worth of medical marijuana production facilities in Maryland to fund an acquisition that would double its cultivation and processing capacity in the state.   

Curaleaf, one of the largest operators in the country with a presence in 23 states, will sell a 22,000-square-foot cultivator and processor to TerrAscend Corp. for $25 million in cash along with a $2.5 million interest-bearing note payable to Curaleaf in two years.

The company also said it has closed the sale of a processing license in Maryland to an unspecified buyer for $4 million....

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