Curaleaf Holdings commented on the decision by the New Jersey Cannabis Regulatory Commission's Board (the "CRC Board") to deny Curaleaf, one of the largest operators in the State of New Jersey, a renewal of its cultivation and retail licenses for adult-use.
"Today's unprecedented action by the New Jersey Cannabis Regulatory Commission's Board – which overrode the Commission's own staff recommendation that our adult use licenses be renewed – is very disappointing," said Boris Jordan, Chairman of Curaleaf. "We believe the CRC Board has wrongly interpreted the applicable regulations and that its decision to retaliate against Curaleaf for our need to consolidate production into one local facility is lacking in merit. Curaleaf has never been cited for such a violation, and we believe there is no regulation requiring permission for the staff reduction we announced. Curaleaf is in good standing with the CRC and has fulfilled the requirements necessary for the renewal of our licenses."
Curaleaf remains open for business and will continue working with the CRC Board and its staff to ensure the renewal of their adult-use licenses, including by any legal means necessary.
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