(RTTNews) - Curaleaf Holdings, Inc. (CURLF, CURA.TO), a provider of consumer cannabis products, on Friday announced the termination of its binding commitment to acquire The Cannabist Company's Virginia assets.
The company expects to receive a $3.3 million break fee upon cancellation of the agreement.
The decision followed a competing bid of $130 million plus a $30 million lease liability, which the company said was above fair value after due diligence.
The company said it will remain disciplined and opportunistic in pursuing future acquisition opportunities.
On Thursday, Curaleaf closed trading 32.05% lesser at CAD 4.4100 on the Toronto Stock Exchange.
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