Curaleaf Announces 1-for-3 Reverse Stock Split in Preparation for U.S. Stock Exchange Uplisting
Curaleaf Announces 1-for-3 Reverse Stock Split in Preparation for U.S. Stock Exchange Uplisting |
| [26-May-2026] |
In consultation with U.S. stock exchanges, Reverse Stock Split prepares Curaleaf for uplisting, in response to U.S. cannabis rescheduling STAMFORD, Conn., May 26, 2026 /PRNewswire/ -- Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading international provider of consumer cannabis products, today announced that a 1-for-3 reverse stock split of its shares will become effective on or about June 5, 2026 (the "Reverse Stock Split"). Curaleaf's Board of Directors (the "Board") has approved a proposal to effect a reverse stock split of the Company's subordinate voting shares at a ratio of one post-consolidation share for each three pre-consolidation shares (the "Reverse Stock Split"). This initiative is being done in consultation with major U.S. stock exchanges, and is expected to enable the Company to uplist as soon as the opportunity is available.
The Reverse Stock Split will reduce the number of issued and outstanding subordinate voting shares and is expected to increase the trading price per share. The Board has approved the Reverse Stock Split to ensure the Company meets share price level criteria established by U.S. exchanges, as ongoing regulatory developments may provide an opportunity to uplist to a U.S. stock exchange. The Reverse Stock Split is also intended to ensure the Company's shares trade above limits set by certain retail brokerage firms, and to broaden institutional investor participation. "This important step is part of Curaleaf's long-term effort to achieve the listing of our shares to a major U.S. stock exchange," said Boris Jordan, Chairman and CEO of Curaleaf. "Rescheduling of medical cannabis has created a potential pathway toward uplisting to a major U.S. exchange, and we're now more prepared than ever. With a hearing on the full rescheduling of cannabis expected to end in July, and U.S. Treasury guidance supporting the normalization of the industry forthcoming, we believe there will soon be greater clarity around the regulatory and tax framework for our industry. These developments should improve access to capital, broaden the investor base, and further legitimize cannabis in the public markets. We are preparing today to move quickly and decisively when that opportunity comes into view." For more information, investors can review Curaleaf's Reverse Stock Split FAQ page here: LINK Further Information Regarding the Reverse Stock Split As discussed above, the Company's Board of Directors has approved a proposal to effect a Reverse Stock Split of the Company's subordinate voting shares at a ratio of 1-for-3. The Reverse Stock Split has received TSX conditional approval, and it is expected to take effect on or about June 5, 2026 (the "Effective Date"). The Company expects to begin trading on the Toronto Stock Exchange on a post-Reverse Stock Split basis on such Effective Date. Upon completion of the Share Consolidation, the Company's subordinate voting shares will continue to trade on the TSX under the symbol "CURA". The Company will not be issuing fractional post-Reverse Stock Split subordinate voting shares in connection with the Reverse Stock Split. Where the Reverse Stock Split would otherwise result in a shareholder being entitled to a fractional subordinate voting share, the number of post-Reverse Stock Split subordinate voting shares issued to such holder of subordinate voting shares shall be rounded up or down to the nearest whole number of subordinate voting shares. The Company currently has 698,728,008 subordinate voting shares outstanding and, assuming no additional subordinate voting shares are issued prior to the Reverse Stock Split, the Reverse Stock Split will reduce the issued and outstanding subordinate voting shares to approximately 232,909,336 subordinate voting shares. Upon completion of the Reverse Stock Split, the Company's subordinate voting shares will continue to trade on the TSX under the symbol "CURA". A letter of transmittal (a "Letter of Transmittal") with respect to the Reverse Stock Split will be mailed to registered shareholders of the Company. All registered shareholders will be required to deliver their certificate(s) or direct registration advice(s) representing pre-Reverse Stock Split subordinate voting shares along with a completed Letter of Transmittal to the Company's transfer agent, Odyssey Trust Company ("Odyssey"), in accordance with the instructions provided in the Letter of Transmittal. Additional copies of the Letter of Transmittal can be obtained through Odyssey. All shareholders who submit a duly completed Letter of Transmittal along with their pre-Reverse Stock Split subordinate voting shares certificate(s) or direct registration advice(s) to Odyssey will receive a post-Reverse Stock Split subordinate voting share certificate or direct registration advice. Shareholders who hold their subordinate voting shares through a broker or other intermediary and do not have subordinate voting shares registered in their name will not need to complete a Letter of Transmittal. The exercise or conversion price and the number of subordinate voting shares issuable under any of the Company's outstanding stock options, and any other securities convertible in subordinate voting shares, will be proportionately adjusted to reflect the Reverse Stock Split in accordance with the respective terms thereof. About Curaleaf Holdings Forward Looking Statements Investor Contact: Media Contact:
SOURCE Curaleaf Holdings, Inc. | ||
Company Codes: CNSX:CURA,OTC-PINK:CURLF,OTC-BB:CURLF,OTCQX:CURLF,OtherOTC:CURLF,Toronto:CURA |
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