Curaleaf Holdings, Inc. has had a significant year in 2019 and recently made headlines with a first-of-its-kind development in New York. The company’s first medical flower product, Curaleaf Ground Flower Pods, became the first medical flower cannabis product in New York. Every pod contains 350mg of active cannabinoids, 700mg total per package of 3.5kg, with a 20:1 ratio of tetrahydrocannabinol (THC) to cannabidiol (CBD).
Company success in this period of time, along with and an outlook on its future, drove Curaleaf’s executive chairman to purchase 100,000 shares of the company. Boris Jordan, executive chairman at Curaleaf, purchased the shares at an average purchase price of $8.21 per share – A $2 premium to the current price of Curaleaf stock. Jordan stated that he has confidence in the company’s future alongside the advancement of the SAFE Banking Act.
“This is an exciting time for Curaleaf, and I have never been more confident in our future. Our industry is on the brink of tremendous growth, especially as lawmakers are recognizing the need to advance regulation like the SAFE Banking Act. Curaleaf is in the best position to lead this industry and create value for shareholders,” said Jordan.
The SAFE Banking Act was passed in the House last week and has advanced onto the Senate for an additional vote. If the SAFE Banking Act is passed, the entire cannabis industry across the United States will be able to bank without a cash requirement, open company bank accounts, and get lines of credit.
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