EXCLUSIVE: Europe Is The Biggest Opportunity For Growth In The Cannabis Sector,' Curaleaf's Boris Jordan Tells Benzinga Cannabis Capital Conference

"Europe is the biggest opportunity for growth in the cannabis sector in the next five years," said Boris Jordan, founder and executive chairman of the board of Curaleaf Holdings Inc CURLF to the Benzinga Cannabis Capital Conference audience on Thursday, Sept. 28.

CCC’s keynote speaker shared insights into the company's recent developments, the evolving cannabis industry and its international expansion plans, particularly in Europe.

Curaleaf Secures Canadian Licensing, Gains Access To TSX Market

Jordan highlighted the significance of recent regulatory changes in the U.S. and the company's efforts to enhance operational efficiency.

One of the key highlights of the conversation was Curaleaf's successful move to secure a brokerage license and securities license in Canada.

This achievement opened up new opportunities for the company in the Canadian market.

"It's a small deal, but an important step in moving to the Toronto Stock Exchange (TSX), which will allow us to market to large institutions," the cannabis executive said in a conversation with moderator Jim Kirsch, senior managing director of Investment Banking, Global Consumer Investment Banking lead and chairman of Alliance Global Partners.

Unlocking the Cannabis Industry: U.S. Regulatory Insights

The conversation also delved into the evolving regulatory landscape in the U.S., with a focus on the SAFE Banking Act and the potential rescheduling of cannabis from Schedule I to Schedule III.

Jordan provided insights into the legislative process and timelines, suggesting that these changes could significantly impact the cannabis industry and provide access to institutional capital.

Kirsch emphasized the transformative nature of these developments, stating, "It really feels like we're experiencing somewhat of a domino effect here."

Curaleaf's Multi-Faceted Growth Strategy Unveiled

Jordan elaborated on Curaleaf's recent financing efforts, stating, "We did a 10 million Canadian raise, it was well oversubscribed, so we increased it a little bit to pay for fees and everything associated with the deal. So it's a 16 million Canadian brand. So not big, not particularly dilutive, but an important step."

Moving beyond the financial aspects, the conversation shifted to Curaleaf's footprint and presence in key states such as New York, Ohio, Florida and Pennsylvania. Jordan highlighted the growth opportunities in these markets, especially with potential changes in regulations. He emphasized the importance of adapting to local dynamics and regulations in each state.

Regarding international expansion, Jordan expressed strong optimism about the European market, saying, "Europe to me is the biggest opportunity for growth in the cannabis sector probably in the next five years."

He highlighted Curaleaf's significant market share in countries like Germany and the U.K. and their readiness to launch in new European markets.

The conversation also touched on Curaleaf's focus on operational efficiencies and cost-cutting measures. Jordan shared the company's efforts to streamline operations, stating, "We've analyzed every single state from the bottom up, from pricing to assortment, automation, efficiency, all aspects of our operations."

Kirsch further emphasized the dynamic nature of the cannabis industry, with regulatory reforms, new markets and changes in the capital markets. "It really is a transformative time in the market," he concluded.

CURLF Price action: Curaleaf shares were trading up at 0.94% at $4.49 at market close Thursday afternoon.

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Photo: Courtesy Benzinga

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