Russian Investor Andrey Blokh Acquires 723,000 Voting Shares of Curaleaf

MOSCOW–Mr. Andrey Blokh announced he acquired 722,577 subordinate voting shares of Curaleaf Holdings Inc. representing approximately 0.12% of the presently issued and outstanding Subordinate Voting Shares of the Company.

The 722,577 Subordinate Voting Shares were acquired in the context of transactions entered into among Mr. Blokh, the Company and an indirect subsidiary of the Company, pursuant to which the indirect subsidiary of the Company purchased from Mr. Blokh ownership interests in (i) Naturex II, LLC, doing business as Blackjack Collective, which operates a cannabis dispensary located in Las Vegas, Nevada  and (ii) Las Vegas Natural Caregivers, LLC, doing business as House of Herbs, a company that cultivates high-quality cannabis for Las Vegas area dispensaries. The Blackjack Transaction was initially entered into on November 1, 2017 and its terms were subsequently amended on October 11, 2019. The HoH Transaction was initially entered into on October 29, 2019. These transactions closed on August 18, 2021 following receipt of regulatory approval on June 10, 2021. The 722,577 Subordinate Voting Shares were received as consideration for the purchase by the Company from Mr. Blokh of the ownership interests in these entities.

Immediately prior to the acquisition, Mr. Blokh owned 127,173,634 Subordinate Voting Shares of the Company, representing approximately 20.87% of the then issued and outstanding Subordinate Voting Shares of the Company. The Subordinate Voting Shares owned by Mr. Blokh prior to the acquisition were received in connection with the completion of the Company’s business combination with Curaleaf, Inc. Refer to the description of the business combination described in the annual information form of the Company dated April 28, 2021 under the heading “Corporate Structure”.

The acquisition described herein increases Mr. Blokh’s position in the Subordinate Voting Shares of the Company by 722,577 Subordinate Voting Shares to 127,896,211, or approximately 20.96% of the presently issued and outstanding Subordinate Voting Shares of the Company.

Mr. Blokh has acquired the Subordinate Voting Shares for investment purposes, and may acquire further Subordinate Voting Shares, or dispose of his holdings of Subordinate Voting Shares, depending on market and other conditions.

(This information is primarily sourced from Curaleaf.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).

Image: St. Basil’s Cathedral, Moscow.