Curaleaf Receives Approval to Commence Operations at Third Adult-use Dispensary in the State of Massachusetts
Earlier today, Massachusett's Cannabis Control Commission provided authorization to Curaleaf to commence adult-use retail operations at their Ware storefront beginning this Saturday, March 14th. This will be Curaleaf's third recreational dispensary in Massachusetts, and their fifth dispensary overall in the state.
Curaleaf presently operates a total of four dispensaries: a medical dispensary in Hanover, an adult-use and medical dispensary in Oxford, and an adult-use dispensary in Provincetown.
Located at 124 West Street, Curaleaf stated that the opening of this dispensary will provide more than twenty jobs to the local economy. The company, who is headquartered within the state in the city of Wakefield, employs over 65 people at its national headquarters and another 150 employees people throughout its Massachusetts operations.
According to state data, Massachusetts accrued more than $509 million in adult use cannabis sales from November 2018 to January 29, 2019. The estimated tax revenue garnered for state and local government equated to just over $100 million. The average monthly adult-use cannabis sales increased 66% from the first six months of 2019 to the second six months: $27.9 million to $46.3 million.
At the time of publishing, Curaleaf (CSE: CURA, OTC: CURLF) is trading up approximately 2%, although shares of the company are trading down 30% year-to-date.
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