11:26 AM EST - Curaleaf Holdings Inc. : Announced the termination of its binding commitment to acquire The Cannabist Company's Virginia assets. A competing bid valued the Virginia Assets at $130 million plus the assumption of a $30 million lease liability. After a rigorous due diligence process, the Company determined this amount exceeded the rational fair value for the assets. As noted in its release dated December 2, Curaleaf expects to receive a break fee of $3.3mm upon cancellation of its original binding commitment. Curaleaf Holdings Inc.
shares T.CURA are trading up $0.19 at $4.60.
