Curaleaf (CURLF) 40-F 29 Apr 21 2020 FY Annual report (Canada) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2020shares
Document and Entity Information
Entity Registrant Name	Curaleaf Holdings, Inc.
Entity Central Index Key	0001756770
Document Type	40-F
Document Period End Date	Dec. 31, 2020
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	569,831,140
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 73,542	$ 42,310
Accounts receivable, net	28,830	18,335
Inventories, net	197,991	63,210
Biological assets	46,210	19,197
Assets held for sale	58,504
Prepaid expenses and other current assets	10,140	6,479
Current portion of notes receivable	2,645
Total current assets	417,862	149,531
Deferred tax asset	5,528	2,628
Notes receivable	2,000	57,166
Property, plant and equipment, net	242,855	129,812
Right-of-use assets, net	267,168	82,794
Intangible assets, net	797,401	185,635
Goodwill	470,144	69,326
Investments	16,264	51,209
Prepaid acquisition consideration	132,234
Other assets	35,135	8,825
Total assets	2,386,591	736,926
Current liabilities:
Accounts payable	47,043	12,742
Accrued expenses	57,475	18,016
Income tax payable	79,649	15,114
Current portion of lease liability	15,710	11,835
Current portion of notes payable	6,500	17,000
Liabilities held for sale	7,181
Other current liabilities	6,568	31,549
Total current liabilities	220,126	106,256
Deferred tax liability	226,465	22,642
Notes payable	285,001	87,953
Lease liability	270,495	81,319
Non-controlling interest redemption liability	2,694	2,694
Contingent consideration liability	1,898	32,616
Other long term liability	3,698
Total liabilities	1,010,377	333,480
Shareholders' equity:
Share capital	1,754,412	693,699
Treasury shares	(5,208)	(5,208)
Reserves	(177,744)	(146,819)
Accumulated deficit	(194,645)	(132,910)
Total Curaleaf Holdings, Inc. shareholders' equity	1,376,815	408,762
Redeemable non-controlling interest contingency	(2,694)	(2,694)
Non-controlling interest	2,093	(2,622)
Total shareholders' equity	1,376,214	403,446
Total liabilities and shareholders' equity	$ 2,386,591	$ 736,926

Consolidated Statements of Prof

Consolidated Statements of Profits and Losses - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Retail and wholesale revenues	$ 586,219	$ 173,857
Management fee income	40,418	47,161
Total revenues	626,637	221,018
Cost of goods sold	311,148	102,386
Gross profit before impact of biological assets	315,489	118,632
Realized fair value amounts included in inventory sold	(149,586)	(74,757)
Unrealized fair value gain on growth of biological assets	224,610	97,738
Gross profit	390,513	141,613
Operating expenses:
Selling, general and administrative	227,274	121,022
Share-based compensation	30,879	16,607
Depreciation and amortization	68,676	31,701
Total operating expenses	326,829	169,330
Income (loss) from operations	63,684	(27,717)
Other income (expense):
Interest income	6,484	9,938
Interest expense	(47,903)	(18,396)
Interest expense related to lease liabilities	(21,099)	(6,357)
Gain on investment	37,560
Other expenses	(16,683)	(3,257)
Total other expense	(41,641)	(18,072)
Income (loss) before provision for income taxes	22,043	(45,789)
Income tax expense	(83,371)	(24,059)
Net loss	(61,328)	(69,848)
Less: Net income (loss) attributable to non-controlling interest	407	(2,604)
Net loss attributable to Curaleaf Holdings, Inc.	$ (61,735)	$ (67,244)
Loss per share attributable to Curaleaf Holdings, Inc. - basic and diluted	$ (0.11)	$ (0.15)
Weighted average common shares outstanding - basic and diluted	557,192,899	462,911,053

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($)	Share CapitalMVS	Share CapitalSVS	Share Capital	Treasury Shares	Share-Based Reserves	Other Reserves	Total Reserves	Accumulated Deficit	Total Curaleaf Holdings, Inc. Shareholders' Equity	Redeemable Non -Controlling Interest Contingency	Non-Controlling Interest	Redeemable Non-Controlling Interest	MVS	SVS	Total
Beginning Balance at Dec. 31, 2018			$ 657,525,000		$ 6,698,000	$ (153,459,000)	$ (146,761,000)	$ (65,666,000)	$ 440,773,000	$ (2,957,000)		$ (2,174,000)			$ 435,642,000
Beginning Balance (in shares) at Dec. 31, 2018	122,170,705	335,292,331		(4,325,000)
Repurchase of shares				$ (883,000)					(883,000)						(883,000)
Repurchase of shares (in shares)		(147,900)
Exercise and forfeiture of stock options			5,125,000		(2,788,000)		(2,788,000)		2,337,000						2,337,000
Exercise and forfeiture of stock options (in shares)		7,071,331
Share-based compensation					16,607,000		16,607,000		16,607,000						16,607,000
Issuance of shares in connection with acquisitions			31,049,000						31,049,000						31,049,000
Issuance of shares in connection with acquisitions (in shares)		5,698,604
Non-controlling interest in connection with acquisitions											$ 2,156,000				2,156,000
Conversion of MVS to SVS (in shares)	(18,200,000)	18,200,000
Minority buyouts						(13,877,000)	(13,877,000)		(13,877,000)	263,000					(13,614,000)
Net income (loss)								(67,244,000)	(67,244,000)			(2,604,000)			(69,848,000)
Ending Balance (in shares) at Dec. 31, 2019	103,970,705	366,114,366		(5,208,000)
Ending Balance at Dec. 31, 2019			693,699,000		20,517,000	(167,336,000)	(146,819,000)	(132,910,000)	408,762,000	(2,694,000)	2,156,000	(4,778,000)			403,446,000
Exercise and forfeiture of stock options			12,902,000		(9,891,000)		(9,891,000)		3,011,000						3,011,000
Exercise and forfeiture of stock options (in shares)		9,052,775
Share-based compensation					22,386,000		22,386,000		22,386,000						22,386,000
Issuance of shares in connection with acquisitions			969,479,000						969,479,000						969,479,000
Issuance of shares in connection with acquisitions (in shares)		173,460,668
Issuance of shares in connection with private placement, net of issuance costs			30,236,000			(5,684,000)	(5,684,000)		24,552,000						24,552,000
Issuance of shares in connection with private placement, net of issuance costs (in shares)		4,383,698
Issuance of shares in connection with license success fee			2,348,000						2,348,000						2,348,000
Issuance of shares in connection with license success fee (in shares)		245,629
Conversion of MVS to SVS (in shares)	(10,000,000)	10,000,000
Minority buyouts		$ 6,163,920	45,748,000			(39,254,000)	(39,254,000)		6,494,000			4,308,000			10,802,000
Non cash bonus					1,518,000		1,518,000		1,518,000						1,518,000
Non cash bonus (in shares)		410,084
Net income (loss)								(61,735,000)	(61,735,000)		(63,000)	$ 470,000			(61,328,000)
Ending Balance (in shares) at Dec. 31, 2020	93,970,705	569,831,140		(5,208,000)									93,970,705	569,831,140
Ending Balance at Dec. 31, 2020			$ 1,754,412,000		$ 34,530,000	$ (212,274,000)	$ (177,744,000)	$ (194,645,000)	$ 1,376,815,000	$ (2,694,000)	$ 2,093,000				$ 1,376,214,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net loss	$ (61,328)	$ (69,848)
Adjustments to reconcile loss to net cash provided (used) in operating activities:
Depreciation and amortization	88,466	37,206
Share-based compensation	29,361	16,607
Non-cash bonus	1,518
Non-cash interest expense	6,590	6,711
Unrealized gain on changes in fair value of biological assets	(224,610)	(97,738)
Realized fair value amounts included in inventory sold	149,586	74,757
Impairment loss	23,659
(Gain)/loss on sale of property, plant and equipment	550	(118)
Deferred taxes	7,541	6,959
Write off of acquisition costs		1,135
Gain on investment	(37,566)
Ifrs Increase (Decrease) in Operating Capital [Abstract]
Accounts receivable	5,956	(6,943)
Biological assets	55,707	8,841
Inventories	(92,384)	(28,746)
Prepaid expenses and other current assets	4,748	710
Other assets	(17,702)	(1,216)
Accounts payable	9,958	533
Income taxes payable	57,753	12,384
Accrued expenses	4,552	445
Net cash provided (used) in operating activities	12,355	(38,321)
Cash flows from investing activities:
Purchases of property and equipment	(126,273)	(82,075)
Proceeds from sale of entity	1,004
Payments made on completion on acquisitions	(59,695)	(80,560)
Prepayment for acquisition consideration	(7,500)
Payment in connection with option to acquire an entity		(5,966)
Amounts advanced for notes receivable	(4,646)	(35,444)
Net cash used in investing activities	(197,110)	(204,045)
Cash flows from financing activities:
Cash received from financing agreement	186,235
Proceeds from sale leaseback	42,466	25,245
Minority buyouts	(2,508)	(395)
Lease liability payments	(26,762)	(5,132)
Cash received in private placement	24,552
Principal payments on notes payable	(2,920)	(3,995)
Exercise of stock options	3,013	2,337
Net cash provided by financing activities	224,076	18,060
Net change in cash	39,321	(224,306)
Cash at beginning of period	42,310	266,616
Cash held for sale	(8,089)
Cash at end of period	73,542	42,310
Cash paid for interest	38,133	9,285
Cash paid for income tax	21,498	7,200
Supplemental disclosure of non-cash investing and financing activities:
Recognition of right of use assets and lease liabilities	85,127	93,063
Issuance of shares in connection with minority buyouts	10,802
Issuance of shares in connection with acquisitions	969,479	31,049
Issuance of shares in connection with license success fee	2,348
Contingent consideration incurred in connection with acquisitions	36,494	14,616
Forgiveness of note receivable in connection with acquisition	$ 65,868
Reduction of notes receivable in connection with sale leaseback		12,090
Seller note incurred in connection with acquisition		$ 35,069

Operations of the company

Operations of the company	12 Months Ended
	Dec. 31, 2020
Operations of the company
Operations of the company	Note 1 – Curaleaf Holdings, Inc. (the “Company”, “Curaleaf”, or the “Group”), formerly known as Lead Ventures, Inc. (“LVI”), was incorporated under the laws of British Columbia, Canada on November 13, 2014. Curaleaf operates as a life science company developing full scale cannabis operations, with core competencies in cultivation, manufacturing, dispensing and medical cannabis research. On October 25, 2018, the Company completed a reverse takeover transaction, and completed a related private placement which closed one day prior on October 24, 2018 (collectively, the “Business Combination”). Following the transaction, the Company’s subordinate voting shares (“SVS”) were listed on the Canadian Securities Exchange (“CSE”) under the symbol “CURA” and on the OTCQX under the symbol “CURLF”. The head office and principal address of the Company is 301 Edgewater Place #405, Wakefield, MA 01880. The Company’s registered and records office address is located at Suite 1700-666 Burrard Street, Vancouver, British Columbia, Canada.

Basis of presentation

Basis of presentation	12 Months Ended
	Dec. 31, 2020
Basis of presentation
Basis of presentation	Note 2 – Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and Interpretations of the IFRS Interpretations Committee (“IFRIC”) in effect as of and for the year ended December 31, 2020. These consolidated financial statements were approved and authorized by the Board of Directors of the Company on March 9, 2021. Functional currency The Company and its subsidiaries’ functional currency, as determined by management, is the United States (“U.S.”) dollar. The consolidated financial statements are presented in U.S. dollars unless otherwise stated. Basis of consolidation Subsidiaries are the entities controlled by the Company. Control exists when the Company has the power, directly and indirectly, to govern the financial and operating policies of an entity and is exposed to the variable returns from its activities. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Non-controlling (“NCI”) interests are measured initially at their proportionate share of the acquiree’s identifiable net assets at the date of acquisition. Changes in the Companys’s interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions When the Company loses control over a subsidiary, it derecognizes the assets and liabilities of the subsidiary, and any related NCI and other components of equity. Any resulting gain or loss is recognized in the statement of profits and losses. Any interest retained in the former subsidiary is measured at fair value when control is lost. These consolidated financial statements include the accounts of the Company and its direct subsidiaries, indirect subsidiaries that are not wholly owned and other entities consolidated other than on the basis of ownership : December 31, December 31, State of 2020 2019 Business name operations ownership % ownership % CLF AZ, Inc. AZ 100% 100% CLF NY, Inc. NY 100% 100% Curaleaf CA, Inc. CA 100% 100% Curaleaf KY, Inc. KY 100% 100% Curaleaf Massachusetts, Inc. MA 100% 100% Curaleaf MD, LLC MD 100% 100% Curaleaf OGT, Inc. OH 100% 100% Curaleaf PA, LLC PA 100% 100% Curaleaf, Inc. MA 100% 100% Focused Investment Partners, LLC MA 100% 100% CLF Maine, Inc. ME 100% 100% PalliaTech RI, LLC RI 100% 100% PalliaTech CT, Inc. CT 100% 100% PalliaTech OR, LLC (formerly Groen) OR 100% 100% PalliaTech Florida, Inc. FL 100% 100% PalliaTech Florida, LLC (Note 19) FL 100% 77.2% Curaleaf Florida, LLC FL 100% 70% CLF MD Processing, LLC MD 100% 100% PT Nevada, Inc. (Note 4) NV 100% 100% CLF Sapphire Holdings, Inc. (Note 4) OR 100% — Curaleaf NJ II, Inc. (Note 4) NJ 100% * Focused Employer, Inc. MA 100% * GR Companies, Inc. (Note 4) IL 100% — HMS Health LLC (Note 4) MD — — HMS Processing LLC (Note 4) MD — — HMS Sales LLC (Note 4) MD — — MI Health LLC (Note 4) MD — — Town Center Wellness, LLC (Note 4) MD — — Grassroots OpCo AR, LLC (Note 4) AR — — WCCC, LLC (Note 4) IL — — Compass Dispensary Holdings, LLC (Note 4) IL — — Greenhouse Group, LLC (Note 4) IL — — GR Vending MI, LLC (Note 4) IL — — GR Companies OK, LLC (Note 4) OK — — Remedy Compassion Center, Inc (Note 4) ME — — Primary Organic Therapy, Inc. (d/b/a Maine Organic Therapy) (Note 4) ME — — All significant intercompany balances and transactions were eliminated on consolidation. *Entity established in fiscal year 2020. Basis of measurement The consolidated financial statements have been prepared on a historical cost basis, except for biological assets and assets held for sale, which are measured at fair value less costs to sell; notes receivable measured at fair value through profit or losss (“FVTPL”); and liabilities for cash-settled share-based payment arrangements and contingent considerations assumed in a business combination, which are recorded at fair value. Historical costs are generally based upon the fair value of the consideration given in exchange for assets and contractual obligation for liabilities. Cash and cash equivalents The Company considers all highly liquid instruments with original maturities at time of purchase of 90 days or less to be cash equivalents. Restricted cash Restricted cash balances are those which meet the definition of cash and cash equivalents but are not available for use by the Company. As of December 31, 2020 and 2019, other assets included restricted cash in the amounts of $0 and $500, respectively, which was related to amounts that were held in escrow with $125 being transferred to a third party on a monthly basis for consulting services. Inventories Inventories are stated at lower of cost or net realizable value (“NRV”). NRV is determined as the estimated selling price in the ordinary course of business less estimated costs to sell. Packaging and supplies are initially valued at cost. The Company utilizes the most reliable evidence available to determine if inventories should be written-down below its current carrying value. The direct and indirect costs of inventories initially include the fair value of the biological asset at the time of harvest. They also include subsequent costs such as materials, labor, and depreciation expense on equipment involved in trimming and packaging. All direct and indirect costs related to inventories are capitalized as they are incurred and subsequently recorded within the line item “cost of goods sold” in the consolidated statement of profits and losses at the time the product is sold. Biological assets Expenditures incurred on biological assets are measured on initial recognition and at the end of each reporting period at their fair value less costs to sell in accordance with IAS 41 – Agriculture . The unrealized gain or loss arising on initial recognition of such biological assets at fair value less costs to sell and the change in fair value less costs to sell of biological assets are included in the consolidated statement of profits and losses for the period in which it arises. While the Company’s biological assets are within the scope of IAS 41 , the direct and indirect costs of production are determined using an approach similar to the recognition criteria within the scope of IAS 2 – Inventories . These production costs incurred during the growing process are capitalized and included in the fair value of biological assets. These direct and indirect costs include but are not limited to material, labor, supplies, depreciation expense on production equipment, utilities, and facilities costs associated with cultivation. Capitalized costs are subsequently recorded within the line item “cost of goods sold” in the consolidated statement of profits and losses in the period that the related product is sold. Property, plant and equipment Property, plant and equipment are stated at cost, net of accumulated depreciation and impairment losses, if any. Depreciation is calculated on a straight-line basis over the estimated useful life of the asset using the following terms and methods: Estimated useful life Information technology 5 years Furniture and fixtures 7 years Building and improvements 15 to 39 years Leasehold improvements Lesser of lease term or 7 to 10 years The assets’ residual values, useful lives and methods of depreciation are reviewed at each financial year-end and adjusted prospectively if appropriate. Construction in progress is measured at cost. Upon completion, construction in progress will be reclassified as building or leasehold improvements depending on the nature of the assets and depreciated over the lesser of the estimated useful life of the asset or term of the lease. Subsequent expenditures are capitalized only if it is probable that the expenditure will provide future economic benefits to the Company. An item of equipment is derecognized upon disposal or when no future economic benefits are expected from its use. Any gain or loss arising from derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying value of the asset) is included in the consolidated statement of profits and losses in the year the asset is derecognized. IAS 36 – Impairment of Assets (“IAS 36”) requires that tangible assets be carried at no more than their recoverable amount. To meet this objective, the Company tests all assets that are within this scope for the existence of potential impairment. Intangible assets subject to amortization Intangible assets include intellectual property either owned by the Company or for which the Company has a license. Intangible assets include licenses to cultivate, process and sell cannabis, trade names and non-compete agreements obtained through business acquisitions. Intangible assets acquired in a business combination are recognized at fair value using generally accepted valuation methods deemed appropriate for the type of intangible asset acquired. Generally, the Company utilizes the discounted cash flow method for valuing licenses, the relief from royalty method for valuing trade names and the with or without cash flow method for valuing non-compete agreements. Intangible assets with finite lives are amortized over their estimated useful lives and reported net of accumulated amortization, separately from goodwill. Amortization is calculated on the straight-line method based on the following estimated useful lives: Estimated useful life Licenses 10-20 years Trade names 5-15 years Non-compete agreements 1-2 years The estimated useful lives, residual values, and amortization methods are reviewed at each year-end, and any changes in estimates are accounted for prospectively. IAS 36 requires that intangible assets be carried at no more than their recoverable amount. To meet this objective, the Company tests all assets that are within this scope for potential impairment. Subsequent expenditures are capitalized only when expenditures increase the future economic benefits embodied in the specific assets to which the expenditure relates. All other expenditures, including expenditures on internally generated goodwill and brands, are recognized in the consolidated statements of profits and losses as incurred. Goodwill Goodwill represents the excess of the purchase price paid for the acquisition of an entity over the fair value of the net tangible and intangible assets acquired. Goodwill is allocated to the cash generating unit (“CGU” or “CGUs”) which are expected to benefit from the synergies of the combination. In determining its CGUs, the Company has completed an internal analysis to identify the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. Given the nature of the Company’s business, management generally identifies CGUs based on both regions and acquired business entities. The Company has determined that the goodwill recognized in connection with all acquisitions to date belong to the cannabis operations segment. Goodwill is not subject to amortization and is tested annually for impairment, or more frequently if events or changes in circumstances indicate that it might be impaired in accordance with IAS 36 . Impairment is determined by assessing if the carrying value of a CGU, including the allocated goodwill, exceeds its recoverable amount determined as the greater of the estimated fair value less costs to sell and the value in use. The Company performs the analysis on a CGU level using a discounted cash flow method. Impairment losses recognized in respect of a CGU are first allocated to the carrying value of goodwill and any excess is allocated to the carrying amount of assets in the CGU. Any goodwill impairment loss is recognized in the consolidated statement of profits and losses in the period in which the impairment is identified. Impairment losses on goodwill are not subsequently reversed. Debt with warrants and convertible options The Company issues debt that may have separate warrants, conversion features or no equity-linked attributes which are accounted for as compound or hybrid financial instruments based on its features. Convertible notes and debt with warrants classified as compound financial instruments are accounted for separately by their components: a financial liability and an equity instrument. The liability component is initially recognized at the fair value of a similar liability that does not have an equity conversion option. The equity component is initially recognized at the difference between the fair value of the compound financial instrument as a whole and the fair value of the liability component. Subsequent to initial recognition, the liability component is measured at amortized cost using the effective interest method. The equity component is not remeasured. No gain or loss is recognized at maturity or early conversion of the debt. For convertible notes and debt with warrants classified as hybrid financial instruments, the Company elects on an instrument by instrument basis to bifurcate embedded derivatives or fair value of the entire instrument. Leased assets The Company primarily leases office and production facilities, warehouses, production equipment and vehicles. The Company assesses service arrangements to determine if an asset is explicitly or implicitly specified in the agreement and if the Company has the right to control the use of the identified asset. The right-of-use asset is initially measured at cost, which is primarily comprised of the initial amount of the lease liability, plus initial direct costs and lease payments at or before the lease commencement date, less any lease incentives received, and is amortized on a straightline basis over the remaining lease term. All right-of-use assets are reviewed periodically for impairment. The lease liability is initially measured at the present value of lease payments, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the incremental borrowing rate. The Company elected to recognize expenses for leases with a term of 12 months or less on a straight-line basis over the lease term and not to recognize these short-term leases on the balance sheet. Leases have varying terms with remaining lease terms of up to approximately 30 years. Certain of the Company’s lease arrangements provide the Company with the option to extend or to terminate the lease early. Lease payments included in the measurement of the lease liability comprise (a) fixed payments, including in-substance fixed payments; (b) variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date; (c) amounts expected to be payable under a residual value guarantee; and (d) the exercise price under a purchase option that the Company is reasonably certain to exercise, lease payments in an optional renewal period if the Company is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless the Company is reasonably certain not to terminate early. At inception or reassessment of a contract that contains lease and non-lease components, the Company allocates the consideration in the contract to each lease component on the basis of their relative stand-alone prices. Income taxes Income tax expense comprises current and deferred tax. It is recognized in the consolidated statement of profits and losses except to the extent that it relates to a business combination, or items recognized directly in equity or in other income. Interest and penalties related to income taxes, including uncertain tax treatments, are accounted for under IFRIC 23 – Uncertainty over Income Tax Treatments . Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustments to the tax payable or receivable with respect to previous years. The amount of current tax payable or receivable is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. It is measured using tax rates enacted or substantively enacted at the reporting date. Current tax also includes any tax arising from dividends. Current tax assets and liabilities are offset only if certain criteria are met. Deferred tax is recognized with respect to temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognized for: · temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss; · temporary differences related to investments in subsidiaries, associates and joint arrangements to the extent that the Company is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future; and · taxable temporary differences arising on the initial recognition of goodwill. Deferred tax assets are recognized for unused tax losses, unused tax credits and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be used. Future taxable profits are determined based on the reversal of relevant taxable temporary differences. If the amount of taxable temporary differences is insufficient to recognize a deferred tax asset in full, then future taxable profits, adjusted for reversals of existing temporary differences, are considered, based on the business plans for individual subsidiaries in the Company. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized; such reductions are reversed when the probability of future taxable profit improves. Unrecognized deferred tax assets are reassessed at each reporting date and recognized to the extent that it has become probable that future taxable profits will be available against which they can be used. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date. The measurement of deferred tax reflects the tax consequences that would follow from the manner in which the Company expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities. Deferred tax assets and liabilities are offset only if certain criteria are met. Revenue recognition The Company generates revenue from the sale of cannabis, cannabis related products and provision of services. In accordance with IFRS 15 – Revenue from Contracts with Customers, the Company uses the following five-step approach to determine the timing and amount of revenue to be recognized: i. identify the contract with the customer; ii. identify the performance obligation(s) in the contract; iii. determine the transaction price; iv. allocate the transaction price to the performance obligation(s); and v. recognize revenue when (or as) performance obligation(s) is/are satisfied. Revenue from the sale of cannabis is recognized at the point in time when control over the goods have been transferred to the customer. The Company transfers control and satisfies its performance obligation upon delivery and acceptance by the customer. Revenue from management services fees are recognized over the term of the arrangement as services are provided. Revenue is presented net of discounts and sales and other related taxes. Share-based payment arrangements The Company measures all share-based payment arrangements to employees and directors at the fair value on the date of the grant. The Company uses the Black-Scholes valuation model to determine the grant-date fair value of options and warrants. The inputs into the Black-Scholes valuation model, including the expected term of the instrument, expected volatility, risk-free interest rate and dividend rate are determined by reference to the underlying terms of the instrument, and the Company’s experience with similar instruments. In instances where stock options have performance or market conditions, the Company utilizes the Monte Carlo valuation model to simulate the various outcomes that affect the value of the option. The grant-date fair value of equity-settled share-based payment arrangements is generally recognized as an expense, with a corresponding increase in equity, over the vesting period of the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service conditions are expected to be met, such that the amount ultimately recognized is based on the number of awards that meet the related service conditions at the vesting date. Earnings per share, basic and diluted The Company presents basic and diluted earnings per share. Basic earnings per share is calculated by dividing the profit or loss attributable to shareholders by the weighted average number of shares outstanding during the period. Diluted earnings per share is determined by adjusting the profit or loss attributable to shareholders and the weighted average number of shares outstanding, for the effects of all dilutive potential shares, which comprise warrants, convertible debt and options issued. Items with an anti-dilutive impact are excluded from the calculation. The number of shares included with respect to options, warrants and similar instruments is computed using the treasury stock method. Related party transactions Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control. Related parties may be individuals or entities. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. Financial instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument to another entity. Financial assets and financial liabilities are recognized in the consolidated statement of financial position at the time the Company becomes a party to the contractual provisions of the financial instrument. Initial measurement of financial assets and financial liabilities Financial assets and liabilities are recognized at fair value upon initial recognition plus any directly attributable transaction costs when not subsequently measured at fair value through profit or loss. Transaction costs are expensed in the period incurred through the consolidated statement of profits and losses. Subsequent measurement Measurement in subsequent periods is dependent on the classification of the financial instrument. On initial recognition of an equity investment that is not held for trading, the Company may irrevocably elect to present subsequent changes in the investment’s fair value in OCI. This election is made on an investment-by-investment basis. All financial assets not classified as measured at amortised cost or fair value through other comprehensive income (loss) (“ FVTOCI”) as described below are measured at FVTPL. This includes all derivative financial assets. On initial recognition, the Company may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortised cost or at FVTOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise. Financial assets are not reclassified subsequent to their initial recognition unless the Company changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model. Classification The Company classifies its financial instruments in the following categories: at FVTPL, at FVTOCI or at amortized cost. The Company determines the classification of financial assets at initial recognition. The classification of debt instruments is driven by the Company’s business model for managing the financial assets and their contractual cash flow characteristics. Equity instruments that are held for trading are classified as FVTPL. For other equity instruments, on the day of acquisition the Company can make an irrevocable election (on an instrument-by-instrument basis) to designate them as at FVTOCI. Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or the Company has opted to measure them at FVTPL. Measurement Financial assets at FVTOCI Elected investments in equity instruments at FVTOCI are initially recognized at fair value plus transaction costs. Subsequently they are measured at fair value, with gains and losses recognized in other comprehensive income (loss). Financial assets and liabilities at amortized cost Financial assets and liabilities, including accounts receivable and notes receivables, at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost less any impairment. Financial assets and liabilities at FVTPL Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the consolidated statements of profits and losses. Realized and unrealized gains and losses arising from changes in the fair value of the financial assets and liabilities held at FVTPL are included in the consolidated statements of profits and losses in the period in which they arise. Where management has opted to recognize a financial liability at FVTPL, any changes associated with the Company’s own credit risk will be recognized in other comprehensive income (loss). Impairment of financial assets at amortized cost The Company recognizes a loss allowance for expected credit losses on financial assets that are measured at amortized cost. At each reporting date, the Company measures the loss allowance for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset has not increased significantly since initial recognition, the Company measures the loss allowance for the financial asset at an amount equal to the twelve month expected credit losses. The Company recognizes in the consolidated statements of profits and losses, as an impairment loss or gain, the amount of expected credit losses or reversal that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized. Derecognition Financial assets The Company derecognizes financial assets only when the contractual rights to cash flows from the financial assets expire, or when it transfers the financial assets and substantially all of the associated risks and rewards of ownership to another entity. Gains and losses on derecognition are generally recognized in the consolidated statements of profits and losses. Financial liabilities The Company derecognizes financial liabilities only when its obligations under the financial liabilities are discharged, cancelled or expired. Generally, the difference between the carrying amount of the financial liability derecognized and the consideration paid and payable, including any non-cash assets transferred or liabilities assumed, is recognized in the consolidated statement of profits and losses. Significant accounting judgments, estimates and assumptions The preparation of the Company’s consolidated financial statements requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, and revenue and expenses. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. Significant judgments, estimates and assumptions that have the most significant effect on the amounts recognized in the consolidated financial statements are described below. Biological assets Biological assets are dependent upon estimates of future economic benefits as a result of past events to determine the fair value through an exercise of significant judgment by the Company. In estimating the fair value of an asset or a liability, the Company uses market observable data to the extent it is available. The Company uses the average selling price per gram in the market in which the biological assets are produced to determine fair value. The Company reevaluates market prices on a quarterly basis in order to ensure biological assets are measured at the most relevant fair value. Business combinations In a business combination, all identifiable assets, liabilities and contingent liabilities acquired are recorded at their fair values. The Company accounts for business combinations using the acquisition method when the acquired set of activities and assets meets the definition of a business and control is transferred to the Company. In determining whether a particular set of activities and assets is a business, the Company assesses whether the set of assets and activities acquired includes, at a minimum, an input and substantive process and whether the acquired set has the ability to produce outputs. One of the most significant estimates relates to the determination of the fair value of assets and liabilities of the acquiree. Any goodwill that arises is tested annually for impairment. Any gain on a bargain purchase is recognized in the statement of profits and losses immediately. Transaction costs are expensed as incurred, except if related to the issue of debt or equity securities. The consideration transferred does not include amounts related to the settlement of pre-existing relationships. Such amounts are generally recognized in the statement of profits and losses. Contingent consideration is measured at its acquisition-date fair value and included as part of the consideration transferred in a business combination. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates and its subsequent settlement is accounted for within equity. Contingent consideration that is classified as an asset or a liability is remeasured at subsequent reporting dates in accordance with IFRS 9 – Financial Instruments with the corresponding gain or loss being recognized in the consolidated statement of profits and losses. For any intangible asset identified, depending on the type of intangible asset and the complexity of determining its fair value, an independent valuation expert or management may develop the fair value, using appropriate valuation techniques, which are generally based on a forecast of the total expected future net cash flows. The evaluations are linked closely to the assumptions made by management regarding the future performance of the assets concerned and any changes in the discount rate applied. Certain fair values may be estimated at the acquisition date pending confirmation or completion of the valuation process. Where provisional values are used in accounting for a business combination, they may be adjusted retrospectively in subsequent periods, not to exceed one year from the acquisition date. The Company utilizes the guidance prescribed by Amendments to IFRS 3 – Definition of a Business (the “IFRS 3 Amendment”) . The IFRS 3 Amendment changes the definition of a business and allows entities to use a concentration test to determine if transactions should be accounted for as a business combination or an asset acquisition. Under the optional concentration test, where substantially all of the fair value of gross assets acquired is concentrated in a single asset (or a group of similar assets), the assets acquired would not represent a business and the trans

Accounts receivable

Accounts receivable	12 Months Ended
	Dec. 31, 2020
Accounts receivable
Accounts receivable	Note 3 – Accounts receivable Accounts receivable consist of the following: December 31, December 31, 2020 2019 Trade accounts receivable, net $ 30,919 $ 17,339 Other receivables 2,446 996 Transferred to assets held for sale (4,536) — Total trade and other receivables $ 28,830 $ 18,335 As of December 31, 2020, the Company recognized a $494 provision for expected credit losses. No provision was recognized for the year ended December 31, 2019.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2020
Acquisitions
Acquisitions	Note 4 – Acquisitions A summary of acquisitions completed during the years ended December 31, 2020 and 2019 is provided below: Year ended December 31, 2020 Purchase price allocation Cura (2) Remedy (2) Arrow (1) MEOT (2) Curaleaf NJ (2) Blue Kudu (1) Grassroots (2) ATG (2) Assets acquired: Cash $ 12,755 $ 172 $ 711 $ 395 $ 3,667 $ 276 $ 28,690 $ 7,253 Accounts receivable, net 11,027 15 — 129 1,995 350 5,511 — Prepaid expenses and other current assets 2,232 3 — 15 405 — 5,835 787 Inventory 22,074 227 508 1,418 4,962 123 12,101 3,455 Biological assets — 79 705 2,340 — 4,571 379 Property, plant and equipment, net 7,465 319 1,854 1,081 6,187 56 37,128 4,397 Right-of-use assets 9,047 108 2,058 1,812 41,518 812 103,055 1,555 Other assets 832 — — 1,034 46 — 91 — Intangible assets : Licenses 135,060 — 38,435 — 57,580 3,345 300,140 24,690 Trade name 28,340 160 — 170 8,260 — 12,130 120 Service agreements 59,030 1,430 — 5,830 — — 3,080 — Non-compete agreements 4,950 — — — — — 19,290 — Goodwill 113,252 909 — 561 22,863 — 257,023 19,072 Deferred tax liabilities (58,971) (480) — (1,680) (20,525) — (102,329) (9,397) Liabilities assumed (22,652) (573) (5,885) (3,426) (46,065) (1,469) (159,368) (9,811) Consideration transferred $ 324,441 $ 2,369 $ 37,681 $ 8,044 $ 83,233 $ 3,493 $ 526,948 $ 42,500 Year ended December 31, 2019 Purchase price allocation Acres (2) Glendale (1) Phyto (1) Emerald (1) Eureka (1) Blackjack (1) HMS (1) Elevate (1) Assets acquired: Cash $ 478 $ 330 $ 37 $ 747 $ 490 $ 120 $ 501 $ 101 Accounts receivable 884 92 — 188 82 — 1,052 — Prepaid expenses and other current assets 114 21 143 253 876 — 211 53 Inventory 3,812 422 103 724 587 333 414 93 Biological assets 567 — — — — — — Property, plant and equipment 5,994 1,407 — 103 357 — — 68 Other assets 45 107 — 15 — — — — Intangible assets : Licenses 22,340 17,060 7,424 15,970 35,253 7,187 32,775 1,937 Trade name 370 — — — — — — — Non-compete agreements 700 — — — — — — — Goodwill 17,471 — — — — — — — Deferred tax liabilities — — — — — — — — Liabilities assumed (5,178) (660) (38) — (1,284) (915) (2,654) (151) Non-controlling interest — — — — — (2,156) — — Consideration transferred $ 47,597 $ 18,779 $ 7,669 $ 18,000 $ 36,361 $ 4,569 $ 32,299 $ 2,101 (1) Acquisition accounted for as an asset acquisition with the application of the IFRS 3 Amendment. (2) Acquisition accounted for as a business combination under IFRS 3. Certain fair values may be estimated at the acquisition date pending confirmation or completion of the valuation process. Where provisional values are used in accounting for a business combination, they may be adjusted retrospectively in subsequent periods, not to exceed one year from the acquisition date. Goodwill arising from acquisitions consists largely of the synergies and economies of scale expected from combining the operations of the businesses. These synergies include the elimination of redundant facilities and functions and the use of the Company’s existing commercial infrastructure to expand sales. 2020 acquisitions Cura Partners, Inc., an Oregon corporation (“Cura” or “Select”) On February 1, 2020, the Company completed the acquisition of Select through the Company’s subsidiary CLF Sapphire Holdings, Inc. The acquisition included Select's manufacturing, processing, distribution, and marketing operations, all adult-use and medical cannabis products marketed under the Select brand name, and all Select intellectual property (the “Cura Transaction”). The purpose of the Cura Transaction was to solidify the Company’s stance as one of the largest cannabis operators in the U.S. in terms of operational and wholesale footprint and position the Company for its next phase of growth. Due to changes in market conditions, Curaleaf and Select mutually agreed on October 30, 2019 to reduce the base consideration payable upon closing of the Cura Transaction. Under the Amended and Restated Merger Agreement (the "Amended Merger Agreement"), the Company issued 55,000,000 SVS to the benefit of the former Select equity holders. The fair value of the shares issued upon closing was $251,911 and the fair value of the shares issued and held in escrow was $17,381. There was an additional 40,555,556 SVS payable to former Select equity holders contingent upon Curaleaf achieving certain calendar year 2020 revenue targets based on Select-branded extract sales beginning at a target of $130,000 with maximum achievement at $250,000. In addition, Select equity holders will also be eligible to receive an earn-out of up to $200,000 from the issuance of additional SVS, contingent upon Curaleaf exceeding $300,000 in calendar year 2020 revenue for Select-branded extract sales. The total contingent consideration related to Cura had a fair value of $28,445. Consideration also included the rollover of former Select option-holders to Curaleaf options. The fair value of the rollover options was $26,072. There were 2 dissenting Select shareholders who elected to receive cash in lieu of merger consideration; they were paid $631 in April 2020. The Select earn-out criteria for the potential payout of an additional 40,555,556 SVS was not met as of the measurement date, and as a result the Company recorded a gain on the change in fair value of the contingent consideration of $28,445 during the year ended December 31, 2020. The Company incurred transaction costs of approximately $7,452. The Company calculated, on a pro forma basis, the combined results of the acquired entity as if the Cura Transaction had occurred as of January 1, 2020. These unaudited pro forma results are not necessarily indicative of either the actual consolidated results had the acquisition occurred as of January 1, 2020 or of the future consolidated operating results. For the Cura Transaction, total unaudited pro forma revenue and net loss for the year ended December 31, 2020 was $91,483 and $49,708, respectively. Revenue and net loss from Cura included in the consolidated statement of profits and losses for the year ended December 31, 2020 was $81,837 and $34,276, respectively. Arrow Alternative Care, Inc. (“Arrow 1”), Arrow Alternative Care #2, Inc. (“Arrow 2”), Arrow Alternative Care #3, Inc. (“Arrow 3”), each a Delaware corporation (collectively, the “Arrow Companies” or “Arrow”) In March 2020, the Company signed definitive agreements to acquire Arrow 1, Arrow 2, and Arrow 3 (respectively, “Transaction 1”, “Transaction 2”, and “Transaction 3”, and collectively the “Arrow Transactions”), which operated licensed medical cannabis dispensaries in Stamford, Hartford, and Milford, Connecticut. The aggregated consideration paid for the Arrow Companies was $37,681, consisting of $16,298 in cash and $21,383 in SVS. The closing of Transaction 1 and Transaction 3 occurred in April 2020. While management’s control of, and all economic interest in, Arrow 2 were transferred to the Company in April 2020, the closing of Transaction 2 occurred on August 3, 2020. The consideration for Arrow 1 was $10,412 and was paid in cash at closing. The consideration for Arrow 2 was $15,048 of which $9,333 was paid in SVS and the remainder in cash. Finally, the consideration for Arrow 3 was $12,227 which was paid by the issuance of 1,861,149 SVS. In August 2020, 27,334 “top up” shares were issued as additional consideration in connection with Transaction 3. The Company incurred transaction costs of approximately $227. The Company acquired Arrow due to its strategic locations in key metro areas in Connecticut. The Company calculated, on a pro forma basis, the combined results of the acquired entity as if the Arrow acquisition had occurred as of January 1, 2020. These pro forma results are not necessarily indicative of either the actual consolidated results had the acquisition occurred as of January 1, 2020 or of the future consolidated operating results. For the Arrow acquisition, total unaudited pro forma revenue and net income for the year ended December 31, 2020 was $24,410 and $1,298, respectively. Revenue and net loss from Arrow included in the consolidated statement of profits and losses for the year ended December 31, 2020 was $18,638 and $574, respectively. Remedy Compassion Center, Inc. (“Remedy”) Remedy owns and operates a duly licensed registered medical marijuana and cultivation facility in the state of Maine. In October 2016, the Company entered into a Management Services Agreement with Remedy (“Remedy MSA”) under which the Company provided services in the areas of cultivation, extraction, and other consulting. Under the Remedy MSA, Remedy maintained exclusive control and possession, and was solely responsible for final decision-making regarding all aspects of the business. The Company recognized management fee income for services rendered under the Remedy MSA. Remedy operated as a Maine nonprofit corporation until February 2020, when changes in Maine regulations allowed for conversion to a for-profit corporation. In February 2020, Remedy converted to a for-profit corporation as approved by their independent Board of Directors. In connection with the conversion, the Remedy MSA was terminated and the Company entered into a Registered Dispensary Management Agreement (“Remedy Operating Agreement”). Current Maine regulations require that licensed medical marijuana dispensaries be owned by residents of Maine. However, under the Remedy Operating Agreement, the Company has acquired operational control and substantially all of the economic benefit of Remedy's business (the “Remedy Acquisition”), which allows the Company to control Remedy in accordance with IFRS 10 definitions. The Company retains a right to acquire Remedy at such time as the residency requirement for ownership is lifted. Total consideration paid for the Remedy Acquisition was $2,369. The Company incurred transaction costs of approximately $28. The Company calculated, on a pro forma basis, the combined results of the acquired entity as if the Remedy Acquisition had occurred as of January 1, 2020. These unaudited pro forma results are not necessarily indicative of either the actual consolidated results had the acquisition occurred as of January 1, 2020 or of the future consolidated operating results. For the Remedy Acquisition, total unaudited pro forma revenue and net loss for the year ended December 31, 2020 was $4,135 and $596, respectively. Revenue and net loss from Remedy included in the consolidated statement of profits and losses for the year ended December 31, 2020 was $3,164 and $204, respectively. GR Companies, Inc., a Delaware company ("Grassroots") In July 2019, the Company entered into an Agreement and Plan of Merger to acquire Grassroots (the “Grassroots Acquisition”). In June 2020, Curaleaf entered into an Amended and Restated Agreement and Plan of Merger (the "Grassroots Merger Agreement") which amended and restated the original definitive agreement and amended certain terms of the Grassroots Acquisition. The Company acquired Grassroots to continue its path forward in playing a leading role in the growth of the U.S. cannabis market. Closing of the Grassroots Transaction occurred in July 2020. At closing, the Company issued (i) 103,455,816 SVS to the benefit of the former holders of common stock of Grassroots which had a fair value of approximately $564,541, and (ii) 12,851,005 SVS to be held in escrow in accordance with the terms of the Amended Grassroots Merger Agreement which had a fair value of approximately $71,389. In addition, the Company paid an amount of $51,187 in connection with the closing of the Grassroots Transaction, which included reimbursements of permitted capital expenditures and acquisitions that occurred between signing and closing, transaction related expenses, and replenishment of working capital. In addition, the parties resolved that certain Grassroots related assets in Illinois and Ohio, and a dispensary in Maryland, are designated for sale to comply with local limitations on license ownership. Due to the limitations on license ownership, the Company recognized $132,234 for prepayment of acquisition consideration. Curaleaf also agreed to issue 2,119,864 SVS to partially offset the dilution to the holders of common stock of Grassroots caused by the conversion of certain debentures of Grassroots into equity of Grassroots immediately prior to the closing of the Grassroots Transaction. The transaction price remains subject to closing adjustments and the parties are still in the process of finalizing the computation of those post-closing adjustments, which is expected to finalize by the third quarter of 2021. The Company incurred transaction costs of approximately $7,623. The Company calculated, on a pro forma basis, the combined results of the acquired entity as if the Grassroots Acquisition had occurred as of January 1, 2020. These unaudited pro forma results are not necessarily indicative of either the actual consolidated results had the acquisition occurred as of January 1, 2020 or of the future consolidated operating results. For the Grassroots Acquisition, total unaudited pro forma revenue and net income for the year ended December 31, 2020 was $213,215 and $120,127, respectively. Revenue and net loss from Grassroots included in the consolidated statement of profits and losses for the year ended December 31, 2020 was $125,177 and $7,744, respectively. Virginia’s Kitchen, LLC, a Colorado company d/b/a Blue Kudu (“Blue Kudu”) In February 2020, the Company signed a definitive agreement to acquire 100% of Blue Kudu, a Colorado-licensed processor and producer of cannabis edibles, operating an 8,400 square foot facility in Denver, Colorado. The transaction closed in July 2020. The consideration consisted of 322,580 SVS at a fair value of $2,109, $1,384 payable in cash at closing of the transaction, and a 5% note of up to $500 due ten and one half months from closing. The Company incurred transaction costs of approximately $100. The Company acquired Blue Kudu as a strategic move to support the Company’s planned expansion of its Select brand throughout the state of Colorado. The Company calculated, on a pro forma basis, the combined results of the acquired entity as if the Blue Kudu acquisition had occurred as of January 1, 2020. These unaudited pro forma results are not necessarily indicative of either the actual consolidated results had the acquisition occurred as of January 1, 2020 or of the future consolidated operating results. For the Blue Kudu acquisition, total unaudited pro forma revenue and net income for the year ended December 31, 2020 was $3,126 and $458, respectively. Revenue and net income from Blue Kudu included in the consolidated statement of profits and losses for the year ended December 31, 2020 was $2,719 and $155, respectively. Curaleaf NJ, Inc. (“CLNJ”) In February 2011, the Company entered into a Management Services Agreement (“NJ MSA”) with CLNJ (formerly Compassionate Sciences ATC Inc.). As required under state law, CLNJ was formed as a New Jersey nonprofit corporation without shareholders, acting through its governing body, the Board of Trustees (“NJ Board”). CLNJ operated medical dispensary, processing, and cultivation facilities as permitted by the state of New Jersey. Under the NJ MSA, the Company acted as an independent contractor providing services in the areas of cultivation, extraction, and other consulting services. The Company recognized management fee income for services rendered under the NJ MSA. In addition to the NJ MSA, the Company entered into a Conditionally Convertible Promissory Note (“NJ Note”) (see Note 8). The NJ Note allowed the Company to acquire CLNJ when the regulations in New Jersey changed to allow nonprofit corporations to convert to for-profit corporations. In July 2019, New Jersey Governor Murphy signed an amendment to the New Jersey Compassionate Use Medical Marijuana Act (the “Act”) known as the Jake Honig Compassionate Use Medical Cannabis Act (“Jake Honig Act”). The Jake Honig Act authorized the New Jersey nonprofit corporations that hold Alternative Treatment Center Permits (“ATC Permits”) to sell or transfer their permits and other assets to for-profit entities. Due to changes in New Jersey regulations, CLNJ received approval from the state of New Jersey for the transfer of the ATC Permit to Curaleaf NJ II, Inc., a wholly owned subsidiary of the Company. In conjunction with the transfer of the ATC Permit, the Company entered into an Asset Purchase Agreement (“CLNJ APA”). As part of the CLNJ APA, CLNJ agreed to sell and transfer the ATC Permit and substantially all of its other assets to Curaleaf NJ II. The transaction closed in July 2020. As a result of the closing of the sale and transfer of the assets, the $83,233 balance of the NJ Note was applied to the purchase price. The Company incurred transaction costs of approximately $54. The Company acquired CLNJ due to its presence in the state of New Jersey and its growing market. The Company calculated, on a pro forma basis, the combined results of the acquired entity as if the CLNJ acquisition had occurred as of January 1, 2020. These unaudited pro forma results are not necessarily indicative of either the actual consolidated results had the acquisition occurred as of January 1, 2020 or of the future consolidated operating results. For the CLNJ acquisition, total unaudited pro forma revenue and net income for the year ended December 31, 2020 was $65,178 and $6,080, respectively. Revenue and net income from CLNJ included in the consolidated statement of profits and losses for the year ended December 31, 2020 was $37,510 and $15,757, respectively. Primary Organic Therapy, Inc. (d/b/a Maine Organic Therapy) (“MEOT”) MEOT owns and operates a duly licensed registered medical marijuana and cultivation facility in the state of Maine. In January 2017, the Company entered into a Management Services Agreement with MEOT (“MEOT MSA”) under which the Company provided services in the areas of financial services, compliance consulting, and human resources management. Under the MEOT MSA, MEOT maintained exclusive control and possession, and was solely responsible for final decision-making regarding all aspects of the business, and the Company acted solely in an advisory capacity. The Company recognized management fee income for services rendered under the MEOT MSA. The MEOT MSA was terminated in July 2020, and MEOT entered into a new MSA agreement (“Verdure MSA”) with Verdure, Inc. (“Verdure”), an entity in which the Company’s Executive Vice Chairman, Joseph Lusardi had an ownership interest. The Company acquired Verdure in July 2020 for $8,000 cash and a cash earn-out of $2,000 based on MEOT’s achievement of certain earnings targets. The fair value of the earn-out was $44. Current Maine regulations require that licensed medical marijuana dispensaries be owned by residents of Maine. However, under the Verdure MSA, the Company has acquired operational control and substantially all of the economic benefit of MEOT’s business. The acquisition of Verdure resulted in the Company controlling MEOT in accordance with IFRS 10. The Company retains a right to acquire MEOT at such time as the residency requirement for ownership is lifted. The Company incurred transaction costs of approximately $32. The Company acquired operational control and substantially all of the economic benefit of MEOT due to its presence in the state of Maine and its growing market. The Company calculated, on a pro forma basis, the combined results of the acquired entity as if the MEOT acquisition had occurred as of January 1, 2020. These unaudited pro forma results are not necessarily indicative of either the actual consolidated results had the acquisition occurred as of January 1, 2020 or of the future consolidated operating results. For the MEOT acquisition, total unaudited pro forma revenue and net income for the year ended December 31, 2020 was $5,317 and $158, respectively. Revenue and net income from MEOT included in the consolidated statement of profits and losses for the year ended December 31, 2020 was $2,728 and $574, respectively. PalliaTech Florida LLC On August 17, 2020, the Company acquired the remaining 11.4% equity interest in PalliaTech Florida LLC from certain minority equity holders for consideration of 2,375,000 SVS. In connection with the foregoing, the Company also agreed to the repayment of certain secured promissory notes in the amount of $1,750. Another 11.4% equity interest in PalliaTech Florida LLC was acquired by the Company on January 10, 2020 from certain other minority equity holders for consideration of $2,500 paid in cash and 1,772,062 SVS. Upon completion, PalliaTech Florida LLC became an indirect wholly-owned subsidiary of the Company (See Note 19). On December 31, 2020, PalliaTech Florida LLC transferred all of the securities that it held in Curaleaf Florida, LLC to Palliatech Florida, Inc., so that PalliaTech Florida, Inc. became the sole member of Curaleaf Florida, LLC. Following that transfer of securities, having no other assets, PalliaTech Florida, LLC was voluntarily dissolved on December 31, 2020. Transaction costs for the remaining acquisition items that occurred in 2020 were immaterial. Net loss from PalliaTech Florida LLC included in the consolidated statement of profits and losses for the year ended December 31, 2020 was $4,468. Alternative Therapies Group, Inc, a Massachusetts corporation (“ATG”) In August 2018, the Company entered into an agreement to acquire ATG, which includes a 53,600 square foot cultivation and processing facility in Amesbury, Massachusetts, and intended to enter into supply agreements with ATG’s three dispensaries in Massachusetts. Consideration for ATG is $50,000, $42,500 of which was prepaid in cash in December 2018 in order to solidify the Company’s intent to complete the purchase of ATG and was recorded as a non-current asset. The remaining $7,500 was paid at the closing of the transaction in November 2020. In connection with the acquisition, ATG's dispensaries located in Amesbury, Salisbury and Salem have been spun off and continue to operate under the ATG brand. The dispensaries were sold for a total of $7,500. The Company incurred transaction costs of approximately $204. The Company purchased ATG to increase its cultivation capacity in Massachusetts. The Company calculated, on a pro forma basis, the combined results of the acquired entity as if the ATG acquisition had occurred as of January 1, 2020. These unaudited pro forma results are not necessarily indicative of either the actual consolidated results had the acquisition occurred as of January 1, 2020 or of the future consolidated operating results. For the ATG acquisition, total unaudited pro forma revenue and net income for the year ended December 31, 2020 was $18,385 and $14,179, respectively. Revenue and net income from ATG included in the consolidated statement of profits and losses for the year ended December 31, 2020 was $3,976 and $3,259, respectively. 2019 acquisitions HMS Health LLC (“HMS”), HMS Processing LLC, MI Health LLC, and HMS Sales LLC, all Maryland limited liability companies (the “HMS Companies”) In January 2019, the Company completed the acquisition of the HMS Companies which concluded as a $30,000 convertible financing. Prior to funding, HMS spun off its cannabis processing license and cannabis dispensing license into separate entities, HMS Processing LLC and HMS Sales LLC, respectively. There was an additional adjustment of $447 made upon closing as part of the agreement. The loans, together with accrued interest, are convertible into equity of each of the HMS Companies upon receipt of all required regulatory approvals. In addition, the owners of the HMS Companies will receive additional consideration of $2,000 in SVS at the then-current market price upon completed conversion of the loans. The Company recorded a liability of $1,852 for the additional consideration. The Company incurred transaction costs of approximately $199. The Company has signed a definitive agreement with TerrAscend Corp for the sale of these acquired asset (see Note 7). Town Center Wellness, LLC, dba Elevate Takoma, a Maryland limited liability company (“Elevate”) In January 2019, the Company paid $2,101 in cash for an option to acquire the license associated with Elevate, a dispensary located in Takoma Park, MD. The Company incurred transaction costs of approximately $40. The Company has signed a definitive agreement with PharmaCann LLC for the sale of these acquired asset (see Note 7). Naturex II, LLC, dba Blackjack Collective, a Nevada limited liability company (“Blackjack”) In October 2017, the Company entered into an agreement to acquire 51.2% of Blackjack by purchasing a 64% interest in VSLV Management, a related party, which owned 80% of Blackjack. The purchase price was in the form of 4,105,988 shares of common stock of Curaleaf, Inc. valued at $3,001. The Company issued these shares of Curaleaf, Inc. into escrow for release to the members of VSLV Management upon regulatory approval of the transaction. In January 2019, the Company entered into an agreement to acquire an additional 18% of Blackjack from minority owners for cash consideration of $1,260. Furthermore, in October 2019, the Company entered into an agreement to acquire the remaining interests in VSLV Management in consideration of the issuance of 286,246 additional SVS upon closing of the transaction. Final completion of these further transactions also remains subject to regulatory approval. The Company’s total controlling ownership in Blackjack as of April 1, 2019, the date it took control of Blackjack, was 69.2%. The Company recognized the residual 30.8% of unowned membership interest as a $2,156 non-controlling interest in equity. As a result of its agreement to acquire the remaining interest in VSLV Management, the Company’s controlling ownership interest was increased to 98% as of October 11, 2019. There was an additional $308 of payables due to the Company that were effectively forgiven as part of the purchase price. The Company incurred transaction costs of approximately $122. EC Investment Partners, LLC, a Nevada limited liability company (“Eureka”) In April 2019, the Company acquired all of the membership interests of Eureka. Total consideration of $36,361 consisted of $5,608 in cash, settlement of $5,000 of debt owed to the Company, and $14,239 which was settled through the issuance of 1,663,511 SVS. In addition, the sellers may be entitled to additional consideration in the form of additional SVS based upon the excess of Eureka’s EBITDA for the twelve-month period starting July 1, 2019 above $5,000 . The Company incurred transaction costs of approximately $609. The Eureka earn-out criteria were not met as of the measurement date, and as a result the Company recorded a gain on the change in fair value of the contingent consideration of $9,572 during the year ended December 31, 2020. Absolute Healthcare, Inc. dba Emerald Dispensary, an Arizona non-profit corporation (“Emerald”) In May 2019, the Company acquired exclusive rights to operate the Emerald dispensary in Gilbert, AZ, whose license is held by Absolute Healthcare, Inc. Total consideration for the transaction was $18,000, of which $10,000 in cash was paid upfront, $5,000 was paid in cash in January 2020, and the balance of $3,000 was paid in cash in May 2020. (see Note 11). The Company incurred transaction costs of approximately $138. Phytotherapeutics Management Services, LLC, an Arizona non-profit corporation (“Phyto”) In July 2019, the Company completed the acquisition of Phyto, which operates under the license of Phytotherapeutics of Tucson, LLC. The closing of the transaction resulted in the license being applied to a newly developed dispensary located in Phoenix, AZ. Aggregate agreed consideration for Phyto was $7,669, consisting of cash in the amount of $5,669, 65,511 SVS valued at $500 and a promissory note in the amount of $1,500 with a maturity date of 18 months from the closing of the transaction with an interest rate of 7.5% (Note 11). The transaction was completed in July 2019. The Company incurred transaction costs of approximately $47. Glendale Greenhouse, an Arizona non-profit corporation (“Glendale”) In August 2019, the Company completed the acquisition of Glendale, which operates under the license of PP Wellness as a vertically integrated cannabis cultivation, processing, and dispensary company. Consideration for Glendale included 173,050 SVS valued at $1,500 and cash in the amount of $8,279. The Company also issued two promissory notes with a combined amount of $5,000 with a maturity date of 12 months from the closing of the transaction date and an interest rate of 7%. The Company also issued a promissory note in the amount of $2,500 with an interest rate of 7%, which was paid in February 2020 (Note 11). Additionally, the Company issued 172,544 SVS 12 months after the closing of the transaction. The Company incurred transaction costs of approximately $78. Acres Cultivation, LLC , a Nevada limited liability company, and Acres Medical, LLC, a Nevada limited liability company (together, “Acres”) In October 2019, the Company completed the acquisition of Acres Cultivation, LLC, which included a cultivation facility in the Amargosa Valley, Nevada and, on January 1, 2020, the Company completed its acquisition of Acres Medical, LLC, which included a large dispensary located in Las Vegas, Nevada, with a second dispensary under construction that has since opened in Ely, Nevada. Total consideration for the Acres transaction was $47,597, of which $15,000 was paid in cash upon signing of the definitive agreement, $9,500 was paid upon receiving regulatory approval of the license transfer for the dispensary in January 2020, as well as a $500 holdback. Total consideration also included $12,856 which was settled through the issuance of 3,108,183 SVS, and $8,569 which was settled through the issuance of 2,039,062 SVS upon receiving regulatory approval of the license transfer for the dispensary in January 2020. The purchase agreement also included earn-out potential (“Acres earn-out”) if certain financial targets were met. The Acres earn-out was not expected to be achieved as of December 31, 2020, and as a result, the Company recorded a gain on the change in fair value of the contingent consideration of $1,034 during year ended December 31, 2020. The Company incurred transaction costs of approximately $448. Pending acquisitions The following acquisitions have been signed but were not completed prior to January 1, 2021. The results of the following entities are not included in the consolidated results of the Company: Ohio Grown Therapies, LLC, an Ohio limited liability company (“OGT”) In May 2019, the Company entered into an agreement granting it an option to acquire OGT for $20,000. The Company paid $5,000 in cash in May 2019 and $7,500 in cash in July 2020. The remaining consideration will be paid upon completion of milestones, culminating with regulatory approval of the transfer of the final licenses and OGT facility to Curaleaf. The closing of this transaction is currently pending regulatory approval. EMMAC Life Sciences Limited, a corporation existing under the laws of England and Wales (“EMMAC”) In March 2021, the Company signed a definitive agreement to acquire EMMAC, an independent cannabis company with operations spanning, amongst others, the United Kingdom, Germany, Italy, Spain and Portugal, for a total base consideration of approximately $286,000, consisting of approximately $50,000 in cash at closing, approximately 16,797,963 SVS and up to an additional $57,000 subject to performance-based earn-outs. The closing of this transaction is currently pending completion of certain closing conditions, including regulatory approval and is expected to close early in the second quarter of 2021.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2020
Inventories
Inventories	Note 5 – Inventories Inventories consist of the following: December 31, December 31, 2020 2019 Raw materials Harvested cannabis $ 5,036 $ 5,780 Harvested trim 8,450 2,890 Total raw materials 13,486 8,670 Work-in-process Processing 67,955 15,998 Finished goods Consumables 10,403 8,668 Flower 14,231 3,661 Extracts 31,269 14,663 Total finished goods 55,903 26,992 Fair value adjustment to inventory related to biological assets 63,828 11,550 Transferred to assets held for sale (3,181) — $ 197,991 $ 63,210 d During the years ended December 31, 2020 and 2019, the Company recognized cost of goods sold of $460,734 and $177,143, respectively, of which $311,148 and $102,386, respectively, was included in costs before the impact of biological assets adjustments for the amount of $149,586 and $74,757, respectively, of non-cash expense relating to the realized change in fair value of inventory sold.

Biological assets

Biological assets	12 Months Ended
	Dec. 31, 2020
Biological assets
Biological assets	Note 6 – Biological assets The following table is a reconciliation of the carrying amounts of the biological assets: Balance at December 31, 2018 $ 4,491 Assets obtained in the acquisition of HMS Companies 469 Assets obtained in the acquisition of Eureka 577 Assets obtained in the acquisition of Acres 567 Unrealized fair value gain on growth of biological assets 97,738 Increase in biological assets due to capitalized costs 20,661 Transferred to inventory upon harvest (105,306) Balance at December 31, 2019 $ 19,197 Assets obtained in the acquisition of Remedy 79 Assets obtained in the acquisition of Curaleaf NJ 2,340 Assets obtained in the acquisition of MEOT 705 Assets obtained in the acquisition of Grassroots 4,571 Assets obtained in the acquisition of ATG 379 Unrealized fair value gain on growth of biological assets 224,610 Increase in biological assets due to capitalized costs 109,850 Transferred to inventories upon harvest (314,114) Transferred to assets held for sale (1,407) Balance at December 31, 2020 $ 46,210 Biological assets consist of actively growing cannabis plants to be harvested as agricultural produce. The average grow cycle of plants up to the point of harvest is approximately twelve weeks. Plants in production are plants that are in the flowering stage and are valued at fair value less cost to complete and cost to sell, where fair value represents the Company’s selling price per gram of dried cannabis. As of December 31, 2020 and 2019, it was expected that the Company’s biological assets would yield 16,905,180 and 7,031,057 grams of cannabis when harvested, respectively. See Note 21 for the inputs and sensitivity analysis for the fair value of the biological assets.

Assets and liabilities held for

Assets and liabilities held for sale	12 Months Ended
	Dec. 31, 2020
Assets and liabilities held for sale
Assets and liabilities held for sale	Note 7 – Assets and liabilities held for sale Assets and liabilities held for sale consist of the following: Assets held for sale HMS Assets Elevate, Takoma GR Entities Total Balance at January 1, 2020 $ — $ — $ — $ — Transferred in 30,397 2,274 25,833 58,504 Total assets held for sale at December 31, 2020 $ 30,397 2,274 25,833 $ 58,504 Liabilities associated with assets held for sale HMS Assets Elevate, Takoma GR Entities Total Balance at January 1, 2020 $ — $ — $ — $ — Transferred in 3,145 797 3,239 7,181 Total liabilities associated with assets held for sale at December 31, 2020 $ 3,145 797 3,239 $ 7,181 The Company has been marketing the assets of HMS Health, LLC and the cultivation and processing assets of HMS Processing, LLC (collectively, the “HMS Assets”) for sale. Such a sale will enable the Company to acquire the Maryland cultivation and processing assets previously owned by Grassroots while complying with limits on license ownership in the state of Maryland. The cultivation and processing assets of Grassroots in Maryland were spun off prior to the acquisition of Grassroots by the Company, and the Company intends to purchase those assets when approved by the Maryland regulators. In November 2020, the Company announced the signing of a definitive agreement to sell its rights to the HMS Assets in Maryland to TerrAscend for a total consideration of $27,500. The HMS Assets sale includes the divestiture of operations in a 22,000 square foot co-located cultivation and processing facility in Frederick, MD. The total consideration due to the Company of $27,500 includes $25,000 payable in cash upon closing as well as a $2,500 interest bearing Note due and payable to the Company in April 2022. The transaction is expected to close pending customary closing conditions, including receipt of regulatory approval by the Maryland Medical Cannabis Commission. In addition to the HMS Assets, the Company has been marketing the assets of Town Center Wellness, LLC, a licensed dispensary business in Takoma Park, Maryland. Such a sale will enable the Company to acquire dispensary assets previously owned by Grassroots while complying with limits on license ownership in the state of Maryland. In November 2020, the Company signed a definitive agreement to sell 100% of Town Center Welnness, LLC to PharmaCann LLC for a total consideration of $2,000, all payable in cash upon closing. The transaction is expected to close pending customary closing conditions, including receipt of regulatory approval by the Maryland Medical Cannabis Commission. The Company has also been marketing certain rights and interests in some of the assets of the Grassroots-related entities, including OhiGrow, LLC and Ohio Green Grow, LLC, which have Ohio cultivation and processing licenses, respectively, in order to ensure compliance with Ohio regulations. Additionally, the Company has been marketing certain rights and interests of the assets of a select number of Illinois dispensaries associated with the Grassroots Acquisition in order to ensure compliance with Illinois rules and regulations.

Notes receivable

Notes receivable	12 Months Ended
	Dec. 31, 2020
Notes receivable
Notes receivable	Note 8 – Notes receivable Notes receivable consist of the following: December 31, December 31, 2020 2019 Notes receivable Curaleaf NJ, Inc. (Note 4) $ — $ 56,437 Notes receivable Remedy Compassion Center, Inc. (Note 4) — 729 Notes receivable RJB Enterprises, LLC. 1,645 — Notes receivable Curaleaf Maryland, Inc. 3,000 — Total notes receivable $ 4,645 $ 57,166 Current portion of notes receivable 2,645 — Long term notes receivable 2,000 57,166 Total notes receivable $ 4,645 $ 57,166 In October 2016, the Company entered into a $500 note receivable with Remedy Compassion Center, Inc (“RMC”). The note receivable has an interest rate of 12% per annum and interest payments are payable monthly. The principal balance of the loan is payable upon the maturity date of December 31, 2019. The notes receivable carries certain financial and non-financial covenants. The note receivable with RMC remained unpaid past the maturity date and continued accruing interest until it was used as the consideration paid for acquiring control of RMC due to the conversion of RMC to a for-profit corporation triggering a termination of the previous MSA and signing of the Remedy Operating Agreement (See Note 4). During the years ended December 31, 2020 and 2019, the Company recorded $37 and $82 of interest income, respectively. In February 2011, the Company entered into a management services agreement which included a $2,500 credit facility, structured as a ten year term loan, with Curaleaf NJ, Inc., an unrelated party. The term loan had an interest rate of 18% per annum and interest payments were payable quarterly or added to the principal balance of the loan if payment was not made. In January 2019, the Company entered into the NJ Note to increase the term loan up to $70,000 with the same interest rate of 18% and maturity date of December 31, 2021. During the years ended December 31, 2020 and 2019, the Company recorded $6,336 and $8,017 of interest income, respectively. Additionally, the Company provided Curaleaf NJ, Inc. with management services for fees which are added to the note receivable. Revenue from Curaleaf NJ, Inc. accounted for approximately 3% and 17% of total revenue for the years ended December 31, 2020 and 2019, respectively. Under the terms of the NJ Note, the outstanding balance of the principal and interest was convertible upon conversion of Curaleaf, NJ, Inc. from a non-for-profit corporation to a for-profit corporation in accordance with New Jersey law. In January 2020, Curaleaf NJ, Inc. submitted a request for authorization to sell and transfer its alternative treatment center (“ATC”) permit and substantially all of its assets to the Company in exchange for forgiveness of the outstanding balance of the principal and interest of the NJ Note. Upon receiving approval from the State of New Jersey and other regulatory bodies, the transaction closed in July 2020. As a result of the closing of the sale and transfer of the assets, the $83,233 balance of the NJ Note was applied to the purchase price. See Note 4 for futher details. In February 2020, the Company entered into a note receivable agreement with RJB Enterprises, LLC for a licensing arrangement for the purchase and processing of cannabis products associated with the Select product lines, structured as various term loan advances with a maximum borrowing amount of $7,000. The note receivable has an interest rate of 1.57% per annum and is payable upon maturity on March 1, 2022. The principal balance of the note is payable on the fifth day of each month starting on April 5, 2020, and so long as any indebtedness is outstanding under the note, is paid in increments of ten dollars and seventy-five cents per unit of licensed product sold by the borrower during the preceding month, with any remaining balance due upon maturity. The note can be prepaid at any time without any penalty or fees. The notes receivable carries certain financial and non-financial covenants. The Company had been marketing the assets of Curaleaf Maryland, Inc., its licensed processing business in Maryland, with the intent to divest the Company from these assets to ensure compliance with Maryland regulations. In June 2020, the Company signed definitive agreements to sell 100% of Curaleaf Maryland, Inc. in October 2020. In November 2020, the Company announced the closing of its divestiture of Curaleaf Maryland, Inc. for total consideration of $4,000, of which $3,000 was issued as a note receivable from Curaleaf Maryland, Inc. The note receivable has a Payment-in-Kind (“PIK”) interest rate of 13% per annum and is payable upon maturity on June 25, 2023. The principal balance of the note is payable each year on June 25 th in equal installments of $1,000 with the interest due on the final payment. Information about the Company’s exposure to credit and market risks, and impartment losses for notes receivable is included in Note 21.

Property, plant and equipment

Property, plant and equipment	12 Months Ended
	Dec. 31, 2020
Property, plant and equipment
Property, plant and equipment	Note 9 – Property, plant and equipment Property, plant and equipment and related accumulated depreciation consist of the following: December 31, December 31, 2020 2019 Land $ 6,827 $ 487 Building and improvements 132,428 87,563 Furniture and fixtures 64,214 37,526 Information technology 2,756 1,858 Construction in progress 73,177 20,387 Total property and equipment 279,402 147,821 Less: Accumulated depreciation (36,547) (18,009) Property, plant and equipment, net $ 242,855 $ 129,812 Assets included in construction in progress represent projects related to both cultivation and dispensary facilities not yet completed or otherwise not ready for use. In August 2019, the Company entered into a Purchase and Sale Agreement (“PSA”) with Freehold Properties, Inc. (“Freehold”) pursuant to which Freehold agreed to purchase 7 of the Company’s buildings that are used in the cultivation, manufacture and sale of cannabis. As part of the PSA, the Company agreed to lease the buildings from Freehold over a ten-year period. The Company received $25,245 in cash and 311,991 shares of Freehold stock valued at $2,836. The Company recognized a gain of $693 as a result of the sale, which was recorded within other expense on the consolidated statements of profits and losses. On August 4, 2020, the Company completed a sale and lease back transaction to sell its Mt Dora, Florida cultivation and processing facility to GA NA 3 LLC. Under a long-term agreement, the Company will lease back the facility and continue to operate and manage it. As a result of the sale, the Company disposed of $26,700 of buildings and improvements and $14,800 of construction in progress. The Company recognized a loss on the sale related to the transaction of $557 which was recorded within other expense on the consolidated statements of profits and losses. A reconciliation of the beginning and ending balances of property, plant and equipment and accumulated depreciation is as follows: Construction Building and Furniture and Information in Land Improvements Fixtures Technology Progress Total Cost As of December 31, 2018 $ 210 $ 48,060 $ 13,486 $ 582 $ 10,119 $ 72,457 Additions 277 39,280 25,307 1,677 35,439 101,980 Business acquisitions — 5,365 2,050 2 512 7,929 Disposals — (26,348) (2,525) (840) (4,832) (34,545) Transfers — 21,206 (792) 437 (20,851) — As of December 31, 2019 $ 487 $ 87,563 $ 37,526 $ 1,858 $ 20,387 $ 147,821 Additions 10 45,659 17,934 646 62,024 126,273 Business acquisitions 6,384 25,828 12,225 823 13,227 58,487 Disposals — (27,620) (3,674) (498) (14,801) (46,593) Transfers (10) 5,537 1,653 (71) (7,109) — Transferred to Assets Held for Sale (44) (4,539) (1,450) (2) (551) (6,586) Balance as of December 31, 2020 $ 6,827 $ 132,428 $ 64,214 $ 2,756 $ 73,177 $ 279,402 Construction Building and Furniture and Information in Land Improvements Fixtures Technology Progress Total Accumulated depreciation As of December 31, 2018 $ — $ 3,521 $ 1,860 $ 107 $ — $ 5,488 Depreciation — 7,680 6,041 403 — 14,124 Disposals — (635) (24) — (944) (1,603) As of December 31, 2019 $ — $ 10,566 $ 7,877 $ 510 $ (944) $ 18,009 Depreciation — 8,624 10,854 1,006 — 20,484 Disposals — 618 (3,018) (230) 944 (1,686) Transferred to Assets Held for Sale — (77) (183) — — (260) Balance as of December 31, 2020 $ — $ 19,731 $ 15,530 $ 1,286 $ — $ 36,547 Depreciation expense totaled $20,484 and $14,124 for the years ended December 31, 2020 and 2019, respectively, which includes $13,135 and $5,505 recognized as cost of goods sold and $7,349 and $8,619 recognized as a part of operating expenses in the consolidated statements of profits and losses for the years ended December 31, 2020 and 2019, respectively. There were no impairments recorded against property, plant and equipment during the years ended December 31, 2020 and 2019.

Goodwill and intangible assets

Goodwill and intangible assets	12 Months Ended
	Dec. 31, 2020
Goodwill and intangible assets
Goodwill and intangible assets	Note 10 – Goodwill and intangible assets Identifiable intangible assets consist of the following: 2019 2020 Balance Purchase Transferred Balance at price Impairment to assets Year-to-date at December 31, Acquisitions adjustments Disposals Charge held for sale amortization December 31, Licenses $ 182,969 $ 559,250 $ (505) $ (1,095) $ (23,659) $ (19,690) $ (34,778) $ 662,492 Trade names 1,921 49,180 767 (29) — (600) (3,419) 47,820 Service agreements — 69,370 — — — — (5,775) 63,595 Non-compete agreements 745 24,240 (45) — — — (1,446) 23,494 Total intangible assets, net $ 185,635 $ 702,040 $ 217 $ (1,124) $ (23,659) $ (20,290) $ (45,418) $ 797,401 Amortization of intangible assets was $45,418 and $12,891 for the years ended December 31, 2020 and 2019, respectively. The Company has determined that the goodwill associated with all acquisitions belongs to the cannabis operations segment for the years ended December 31, 2020 and 2019. The changes in the carrying amount of goodwill for the cannabis operations segment were as follows: Total Balance at December 31, 2019 $ 69,326 Purchase price adjustments 76 Acquisition of Cura (Note 4) 113,252 Acquisition of Remedy (Note 4) 909 Acquisition of MEOT (Note 4) 561 Acquisition of Curaleaf NJ (Note 4) 22,863 Acquisition of Grassroots (Note 4) 257,023 Acquisition of ATG (Note 4) 19,072 Disposals (Note 8) (1,748) Transferred to assets held for sale (Note 7) (11,190) Balance at December 31, 2020 $ 470,144 There was no goodwill impairment as of December 31, 2020 or 2019 based on the analysis procedures outlined below. As of December 31, 2020, the Company assessed whether there were events or changes in circumstances that would indicate that a Cash Generating Unit (“CGU”) or group of CGUs were impaired. The Company considers external and internal factors, including overall financial performance and relevant entity-specific factors, as part of this assessment. The Company allocated goodwill to its cannabis operating segment based on acquisition of the entity to which the goodwill is attributable. As the cannabis operating segment comprises various CGUs, management tested the individual CGUs for impairment. The recoverable amount of all CGUs was determined based on the value in use (“VIU”) method using level 2 and level 3 inputs that were ultimately determined to be market participant assumptions. The recoverable amount for all CGUs was valued using a discounted cash flow (“DCF”) model, a variation of the income approach, and corroborated with value indications from certain market approaches, specifically the publicly-traded guideline company method and the comparable transaction method. The significant assumptions applied in the determination of the recoverable amount are described as follows: i. Cash flows: Estimated cash flows were projected based on actual operating results from internal sources as well as industry and market trends. The forecasts were extended to a total of eight years (with a terminal year thereafter) based on the relative immaturity of the industry; ii. Terminal value growth rate: The terminal growth rate was based on historical and projected consumer price inflation, historical and projected economic indicators, and projected industry growth; iii. Post-tax discount rate: The post-tax discount rate is reflective of the CGUs Weighted Average Cost of Capital (“WACC”). The WACC was estimated based on the risk-free rate, equity risk premium, beta adjustment to the equity risk premium based on a direct comparison approach, an unsystematic risk premium, and after-tax cost of debt based on corporate bond yields; and iv. Tax rate: The tax rates used in determining the future cash flows were those effectively enacted based on jurisdiction at the respective valuation date. Key assumptions used in calculating the recoverable amount for each CGU grouping tested for impairment as of December 31, 2020 is outlined in the following table: Grassroots Select New Jersey Nevada Arizona Connecticut Florida Massachusetts CGU CGU CGU CGU CGU CGU CGU CGU Terminal Value Growth Rate Discount Rate Recoverable Amount $ 607,958 $ 367,590 $ 187,617 $ 76,931 $ 338,205 $ 118,630 $ 343,470 $ 165,376 Carrying Amount of Goodwill $ 245,833 $ 113,252 $ 22,863 $ 19,589 $ 15,547 $ 14,302 $ 13,410 $ 4,517 The recoverable amount of the CGU is compared to the total CGU carrying amount for each CGU grouping for impairment testing procedures. Select CGU The Company’s Select CGU represents its operations dedicated to the manufacturing, processing, distribution, and marketing operations, and all adult-use and medical cannabis products marketed under the Select brand name, including all intellectual property. This CGU is attributed to the Company’s cannabis operating segment. As a result of the impairment test, management concluded that the carrying value of the CGU was lower than its recoverable amount and recorded no impairment. An increase in the discount rate of 200 basis points would cause an impairment in the CGU grouping. Grassroots CGU The Company’s Grassroots CGU represents its operations dedicated to the cultivation, processing and sale of cannabis within the states of Illinois, Pennsylvania, Michigan, Ohio, Vermont, North Dakota, Arkansas, and Connecticut. This CGU is attributed to the Company’s cannabis operating segment. As a result of the impairment test, management concluded that the carrying value of the CGU was lower than its recoverable amount and recorded no impairment. An increase in the discount rate of 150 basis points would cause an impairment in the CGU grouping. New Jersey CGU The Company’s New Jersey (Curaleaf) CGU represents its operations dedicated to the cultivation, processing and sale of cannabis within the state of New Jersey. This CGU is attributed to the Company’s cannabis operating segment. As a result of the impairment test, management concluded that the carrying value of the CGU was lower than its recoverable amount and recorded no impairment. Nevada CGU The Company’s Nevada CGU represents its operations dedicated to the cultivation and sale of cannabis within the state of Nevada. This CGU is attributed to the Company’s cannabis operating segment. As a result of the impairment test, management concluded that the carrying value of the CGU was lower than its recoverable amount and recorded no impairment. Arizona CGU The Company’s Arizona CGU represents its operations dedicated to the sale of cannabis within the state of Arizona. This CGU is attributed to the Company’s cannabis operating segment. As a result of the impairment test, management concluded that the carrying value of the CGU was lower than its recoverable amount and recorded no impairment. Connecticut CGU The Company’s Connecticut (Doubling Road) CGU represents its operations dedicated to the cultivation, processing, and sale of cannabis within the state of Connecticut. This CGU is attributed to the Company’s cannabis operating segment. As a result of the impairment test, management concluded that the carrying value of the CGU was lower than its recoverable amount and recorded no impairment. Florida CGU The Company’s Florida (Modern Health Concepts) CGU represents its operations dedicated to the cultivation, processing, and sale of cannabis within the state of Florida. This CGU is attributed to the Company’s cannabis operating segment. As a result of the impairment test, management concluded that the carrying value of the CGU was lower than its recoverable amount and recorded no impairment. Massachusetts CGU The Company’s Massachusetts (Curaleaf) CGU represents its operations dedicated to the cultivation, processing, and sale of cannabis within the state of Massachusetts. This CGU is attributed to the Company’s cannabis operating segment. As a result of the impairment test, management concluded that the carrying value of the CGU was lower than its recoverable amount and recorded no impairment. Finite asset specific impairments During the year ended December 31, 2020, the Company identified underperformance of actual results against expected results for its Eureka cultivation operations, which is an indicator of asset impairment relating to the intangible license. The recoverable amount of the Eureka Cultivation licensing agreement was determined based on a third-party appraisal using a value in use approach, which is the present value of the future cash flows expected to be derived from the Eureka Cultivation licensing agreement, using unobservable inputs (level 3). The Eureka Cultivation licensing agreement was valued using a multi-period excess earnings method (“MPEEM”), a variation of the income approach. This methodology considers future cash flows attributable to the long-lived asset, contributory asset charges to reflect the use of other assets to sustain the subject asset, and a market participant discount rate observed in the industry. Consideration is given to historical data relating to the market and the subject asset, projected data relating to the subject asset, and certain industry standards which constitute both observable and unobservable inputs (level 2 and level 3). This model assumed a discount rate of 19.0%. As a result, the Company recognized a $23,659 impairment loss relating to this license for the year ended December 31, 2020. This license, and the corresponding impairment loss, are allocated to the cannabis operating segment (Note 18).

Notes payable

Notes payable	12 Months Ended
	Dec. 31, 2020
Notes payable
Notes payable	Note 11 – Notes payable Notes payable consist of the following: December 31, December 31, 2020 2019 Financing Agreement – 2021 Principal amount and interest accrued $ — $ 90,795 Unamortized debt discount — (5,773) Net carrying amount — 85,022 Financing Agreement – 2023 Principal amount 300,000 — Unamortized debt discount (25,126) — Net carrying amount 274,874 — Promissory Note – 2024 Principal amount 10,000 — Unamortized debt discount (300) — Net carrying amount 9,700 — Secured Promissory Notes – 2029 — 2,505 Seller note payable 6,500 17,000 Other notes payable 427 426 Total other notes payable $ 6,927 $ 17,426 Current portion of notes payable 6,500 17,000 Long term notes payable 285,001 87,953 Total notes payable $ 291,501 $ 104,953 Financing Agreement – 2021 In August 2018, the Company issued $85,000 of senior secured debt (the “Financing Agreement – 2021”). In connection with the Financing – 2021 Agreement, the Company paid a fee of $1,700 upon the initial funding. The Financing Agreement – 2021 accrued interest at a rate of 15% per annum, of which 10% was payable in cash quarterly and 5% is payable in kind. Principal and interest were due in full on August 23, 2021. The Financing Agreement – 2021 was secured by a guarantee of each wholly-owned direct and indirect subsidiary of the Company, as well as a pledge of the Company’s assets and each such guarantor and contains certain negative covenants, including restrictions on the Company’s ability to pay dividends, invest in non-wholly owned entities and to incur non-subordinated debt. The Financing Agreement – 2021 may be pre-paid in tranches of up to $25,000 or $50,000 upon 90 or 180 days written notice. Any amount prepaid once the outstanding principal falls below $25,000 is subject to a prepayment premium. In connection with the Financing Agreement – 2021, the Company issued warrants to purchase 3,598,492 shares of common stock of Curaleaf, Inc for a nominal value. The liability component of the notes was recorded at fair value of $77,556 and the equity component at the residual amount of $7,444. A debt discount is reflected as a reduction of the carrying value of the long-term debt on the Company’s consolidated statements of financial position and is being amortized to interest expense over the term of the notes using the effective interest method. The Company recognized interest expense under the Financing Agreement – 2021 of $0 and $15,682 for the years ended December 31, 2020 and 2019, respectively, including interest expense related to the amortization of the debt discount of $0 and $2,250, respectively. The Company satisfied, in full, its obligations including early repayment fees of $9,920 under the Financing Agreement – 2021 in connection with and out of the proceeds from the Financing Agreement – 2023 (as defined below) in January 2020. The early repayment fee was recorded with the debt discount and is being amortized over the term of the loan with the remaining unamortized debt discount netting against notes payable in the consolidated statements of financial position. The extinguishment of the loan under the Finance Agreement – 2021 was accounted for as a non-substantial modification to Financing Agreement – 2023. Financing Agreement – 2023 In January 2020, the Company closed on a senior secured term loan facility (“Financing Agreement – 2023”) from a syndicate of lenders totaling $300,000. The notes bear interest at a rate of 13.0% per annum, payable quarterly in arrears with maturity in December 2023. The notes contain certain principal prepayment premiums. The Company satisfied its obligations in full under the Financing Agreement – 2021 in connection with, and out of the proceeds of the Financing Agreement - 2023. This was accounted for as a non-substantial modification with the related gain of $2,269 recorded in other income (expense) in the consolidated statements of profits and losses. The Financing Agreement – 2023 may be pre-paid but is subject to a prepayment premium dependent on the loan year. Any prepayment made between January 10, 2022 and January 9, 2023, will incur a prepayment premium of 6.50%. Any prepayment made between January 10, 2023 and October 14, 2023, will incur a prepayment premium of 3.25%. Any prepayment made on or after October 15, 2023, will not incur a prepayment premium. Beginning with the fiscal quarter ending December 31, 2020, the Financing Agreement – 2023 is subject to a mandatory amortization payment and a yield maintenance premium. The mandatory amortization payment is paid ratably to each lender based on the aggregate principal amount of all initial term loans times an applicable rate that is based on the leverage ratio. For the quarter ended December 31, 2020, the applicable percentage ranges from 0% to 3.00% depending on the leverage ratio. For all quarters in 2021, the applicable percentage ranges from 0% to 6.00% depending on the leverage ratio. For all quarters in 2022, the applicable percentage ranges from 0% to 8.00% depending on the leverage ratio. For all quarters in 2023 through September 30, 2023, the applicable percentage ranges from 0% to 9.00% depending on the leverage ratio. The yield maintenance premium is paid based on all amounts repaid. The premium is determined by the amount of interest that would have otherwise been payable on the prepayment less the aggregate amount of interest that would have been earned if the prepayment were to be reinvested from the date of prepayment until January 10, 2022 at the yield maintenance premium rate. The yield maintenance premium rate is the rate per annum equal to the rate in effect 3 days before the repayment date for U.S. Treasury instruments that have a maximum term of 3 months or less times 0.50%. The Company recognized interest expense under the Financing Agreement – 2023 of $44,786 for the year ended December 31, 2020, including interest expense related to the amortization of the debt discount of $6,184. Promissory Note – 2024 In October 2020, the Company entered into a Promissory Note with a principal sum of $10,000 with Baldwin Holdings, LLC (“Promissory Note – 2024”) to replace the contingent liability incurred in connection with the Curaleaf, MA acquisition (Note 20) which was deemed completed in March 2020. The issue price of the Promissory Note – 2024 is equal to 97.00% of the principal amount of the Promissory Note – 2024 and the remaing $300 is treated as Original Issue Discount (“OID”). The Promissory Note – 2024 carries a fixed interest rate per quarter equal to 3.25%. Interest is payable in arrears on the last day of each fiscal quarter, commencing December 31, 2020. The Maturity Date of the Promissory Note – 2024 is June 10, 2024. The Promissory Note – 2024 contain other terms substantially similar to the Financing Agreement – 2023, except that the Promissory Note – 2024 is secured by separate collateral consisting solely of the equity of, and guarantees given by, the Company’s subsidiaries Curaleaf Hartford, Inc. and Curaleaf Stamford, Inc., which operate medical cannabis dispensaries in Hartford and Stamford, CT, respectively. The Company recognized interest expense under the Promissory Note – 2024 of $1,047 for the year ended December 31, 2020. Secured Promissory Notes – 2029 In January 2017, the Company entered into secured promissory notes (the “Secured Promissory Notes – 2029”) with certain individuals for an aggregate principal amount of $2,505. The Secured Promissory Notes – 2029 accrued interest at a rate of 12% per annum on the first $224 and 14% per annum on the remaining balance. Principal and interest were due in full on May 1, 2029. This note was paid in full through two payments in 2020 as described below. The Company paid $1,252 and the respective accrued interest for a total of $1,651 in connection with a buyout of half of the Remaining Florida Minority Holders in February 2020 (Note 21). In August 2020, the Company paid $1,253 and the respective accrued interest for a total of $1,766 in connection with the buyout of the second half of the Remaining Florida Minority Holders (Note 21). The Company recognized interest expense under the Secured Promissory Notes – 2029 of $115 and $300 for the years ended December 31, 2020 and 2019, respectively. Seller note The Company issued certain notes payable in conjunction with the Emerald acquisition in the amount of $8,000, the Glendale acquisition in the amount of $7,500, and the Phyto acquisition in the amount of $1,500. The Company paid $5,000 and the accrued interest related to the Emerald acquisition in January 2020 and the remaining $3,000 and accrued interest was paid in May 2020. The Company paid $2,500 and the accrued interest related to the Glendale acquisition in February 2020 (see Note 4). Future maturities As of December 31, 2020, future principal payments due under notes payable were as follows: Period Amount 2021 6,500 2022 — 2023 300,000 2024 9,700 2025 and thereafter 427 $ 316,627 Information about the Company’s exposure to interest rate risks and liquidity risks is included in Note 21.

Shareholders' equity

Shareholders' equity	12 Months Ended
	Dec. 31, 2020
Shareholders' equity
Shareholders' equity	Note 12 – Shareholders’ equity The authorized and issued share capital of the Company is as follows: Authorized As of December 31, 2020 t he authorized share capital consists of an unlimited number of multiple voting shares (“MVS”) without par value and an unlimited number of SVS without par value. Issued Holders of the MVS are entitled to 15 votes per share and are entitled to notice of and to attend at any meeting of the shareholders, except a meeting of which only holders of another particular class or series of shares will have the right to vote. As of December 31, 2020 and 2019, the MVS represent approximately 14.2% and 22.1%, respectively, of the total issued and outstanding shares and 71.2% and 81%, respectively, of the voting power attached to such outstanding shares. The MVS are convertible into SVS on a one-for-one basis at any time at the option of the holder or upon termination of the MVS structure. The MVS structure will terminate automatically on October 25, 2021. It will also terminate automatically upon the occurrence of the following events: (i) transfer or disposition of the MVS by the Company’s Executive Chairman, Boris Jordan, to one or more third parties which are not certain permitted holders as described in the Company’s Articles, and (ii) Mr. Jordan or his permitted holders no longer beneficially owning, directly or indirectly and in the aggregate, at least 50% of the issued and outstanding SVS and MVS. In 2019, the holder of 18,200,000 MVS voluntarily converted 18,200,000 MVS into SVS. In April and May 2020, Mr. Jordan voluntarily converted 10,000,000 MVS into SVS. As of December 31, 2020, the Company had 93,970,705 MVS issued and outstanding. On July 20, 2020, the Company completed a private placement offering in two tranches, an initial tranche of 3,541,429 SVS and a subsequent tranche of 842,269 SVS, for a total of 4,383,698 SVS. T he private placement offering was completed in connection with the closing of the Grassroots transaction. Holders of the SVS are entitled to one vote per share. As of December 31, 2020 the Company had 569,831,140 SVS issued and outstanding. The Company had reserved 66,380,185 and 52,237,230 SVS, as of December 31, 2020 and 2019, respectively, for the issuance of stock options under the Company’s 2018 Long Term Incentive Plan (see Note 13). Other reserves in equity are due to the private placement offering described above as well as the minority buyout disclosed in Note 21. Treasury shares For the year ended December 31, 2020, the Company did not repurchase any treasury shares. For the year ended December 31, 2019, the Company repurchased an aggregate of 147,900 shares for a purchase price of $5.97 per share, or a total of $883. The amount is reflected as treasury shares in the consolidated statement of financial position.

Share-based payment arrangement

Share-based payment arrangements	12 Months Ended
	Dec. 31, 2020
Share-based payment arrangements
Share-based payment arrangements	Note 13 – Share-based payment arrangements Stock option programs The 2011 and 2015 Equity Incentive Plans provided for the grant of incentive stock options, non-statutory stock options, restricted stock awards, restricted stock units, stock appreciation rights and other share-based awards. In connection with the Business Combination, all unexercised stock options of Curaleaf, Inc. issued and outstanding under the 2011 and 2015 Equity Incentive Plans were converted to the option to receive an equivalent substitute option under the 2018 Long Term calculated as 10% of the aggregate number of SVS and MVS outstanding on an “as-converted” basis. Stock option valuation The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes valuation model, where appropriate. In instances where stock options have performance or market conditions, the Company utilizes the Monte Carlo valuation model to simulate the various outcomes that affect the value of the option. The weighted average inputs used in the measurement of the grant date fair values of the equity-settled share-based payment plans were as follows: Incentive Plan (the “LTIP”). The LTIP provides for the grant of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock and restricted stock units, performance awards, dividend equivalents, and other share-based awards. The number of SVS reserved for issuance under the LTIP is December 31, 2020 2019 Fair value at grant date $ 5.03 $ 5.97 Share price at grant date $ 6.61 $ 7.67 Exercise price $ 6.57 $ 7.76 Expected volatility 93.2 % 87.2 % Expected life 6.3 years 6.9 years Expected dividends — % — % Risk-free interest rate (based on government bonds) 1.19 % 1.90 % The expected volatility is estimated based on the historical volatility of a publicly traded set of peer companies. The expected life in years represents the period of time that options granted are expected to be outstanding. The expected term of stock options granted to non-employees is equal to the contractual term of the option award. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future. During the year ended December 31, 2020, the Company recorded share-based compensation in the amount of $30,879, including $8,493 related to the fair value of Select rollover options (Note 4). The Company recorded share-based compensation of $16,607 for the year ended December 31, 2019. Reconciliation of outstanding share options The number and weighted-average exercise prices of share options under the LTIP were as follows: Weighted Weighted Number of average Number of average options exercise price options exercise price 2020 2020 2019 2019 Outstanding at January 1 26,919,515 $ 1.90 31,269,448 $ 0.94 Forfeited during the year (684,911) 7.03 (178,086) 1.10 Exercised during the year (8,183,416) 0.43 (6,905,117) 0.31 Granted during the year 2,007,230 6.57 2,733,370 8.35 Rollover grants in connection with acquisition (Note 4) 5,257,209 9.98 — — Outstanding at December 31 25,315,627 $ 4.24 26,919,615 $ 1.59 Options exercisable at December 31 17,033,826 $ 3.68 17,453,214 $ 0.24 Restricted stock units (“RSUs”) The number of RSUs awarded under the 2018 LTIP Plan were as follows: Number of RSUs 2020 2019 Outstanding at January 1 2,170,064 166,215 Forfeited during the year (217,600) — Released during the year (1,219,187) (166,215) Granted during the year 1,820,020 2,170,064 Outstanding at December 31 2,553,297 2,170,064 RSUs vested at December 31 105,593 —

Selling, general and administra

Selling, general and administrative expense	12 Months Ended
	Dec. 31, 2020
Selling, general and administrative expense
Selling, general and administrative expense	Note 14 – Selling, general and administrative expense Selling, general and administrative expenses consist of the following: Year ended December 31, 2020 2019 Selling, general and administrative expenses: Salaries and benefits $ 104,252 $ 52,737 Sales and marketing 23,272 12,188 Rent and occupancy 13,124 4,613 Travel 4,779 6,574 Professional fees 47,598 30,550 Office supplies and services 17,731 8,290 Other 16,518 6,070 Total selling, general and administrative expense $ 227,274 $ 121,022

Other expense

Other expense	12 Months Ended
	Dec. 31, 2020
Other expense
Other expense	Note 15 – Other expense Other expense consist of the following: Year ended December 31, 2020 2019 Gain (loss) on disposal of assets (Note 9) $ 3,288 $ (177) Restructuring charges — (2,323) Loss on termination of purchase agreement — (1,319) Impairment of intangible assets (Note 10) (23,659) — Gain on non-substantial debt modification (Note 11) 2,269 — Other income 1,419 562 Total other expense, net $ (16,683) $ (3,257) The restructuring charges incurred for the year ended December 31, 2019 were for costs related to the restructuring of the Curaleaf Hemp Brand. The loss on termination of purchase agreement for the year ended December 31, 2019 was for the termination of the Agua Street purchase agreement.

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2020
Income taxes
Income taxes	Note 16 – Income taxes The tax provision amounts recognized in the consolidated statements of profits and losses were as follows: Year ended December 31, 2020 2019 Current year $ 76,718 $ 14,977 Provision to return adjustment (888) 2,123 Current tax expense 75,830 17,100 Deferred tax expense 7,541 6,959 Provision for income taxes $ 83,371 $ 24,059 The Company’s provision for income taxes differs from applying the U.S. federal income tax rate to income before taxes primarily due to state income taxes, certain stock compensation, and miscellaneous permanent differences. A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate is as follows: Year ended December 31, 2020 2019 Income (loss) before provision for income taxes $ 22,043 $ (45,789) Tax using the Company's domestic tax rate 3,307 15.0 % $ (6,868) 15.0 % Effect of tax rates in foreign jurisdictions 1,323 6.0 % (2,747) 6.0 % Tax effect of: State taxes, net of federal benefit 1,240 5.6 % 3,130 (6.8) % Share-based compensation 7,883 35.8 % 4,993 (10.9) % Non-taxable partnership income (395) (1.8) % (137) 0.3 % Non-deductible expenses 61,970 281.1 % 18,341 (40.1) % Other 3,139 14.2 % 1,290 (2.8) % Unrecognized deferred tax asset on current year losses 4,904 22.2 % 6,057 (13.2) % $ 83,371 378.2 % $ 24,059 (52.5) % The Company operates in the legal cannabis industry, but is subject to Section 280E of the Internal Revenue Code (“IRC”). Section 280E prohibits businesses engaged in the trafficking of controlled substances (within the meaning of Schedule I and II of the Controlled Substance Act) from deducting normal business expenses associated with the sale of cannabis, such as payroll and rent, from gross income (revenue less cost of goods sold). The application of Section 280E has a significant impact on the retail side of cannabis, but a lesser impact on cultivation and manufacturing operations. Section 280E was originally intended to penalize criminal market operators, but because cannabis remains a Schedule I controlled substance for U.S. Federal purposes, the Internal Revenue Service (“IRS”) has subsequently applied Section 280E to state-legal cannabis businesses. The effective tax rate on a cannabis business depends on how large its ratio of non-deductible expenses is to its total revenues. In states the Company operates in that align their tax codes with Section 280E, it is also unable to deduct normal business expenses for state tax purposes. This results in permanent differences between ordinary and necessary business expenses deemed non-allowable and a higher effective tax rate than most industries. The non-deductible expenses shown in the effective rate reconciliation above is comprised primarily of the impact of applying Section 280E to the Company's businesses that are involved in selling cannabis, along with other typical non-deductible expenses such as those associated with lobbying. The IRS has invoked Section 280E in tax audits against various state-legal cannabis businesses in the U.S.. Although the IRS has issued a clarification allowing the deduction of certain expenses, the scope of this allowance is interpreted very narrowly, resulting in the non-deductibility of certain operating and general administrative costs. While there are currently several pending cases before various administrative and federal courts challenging these restrictions, there is no guarantee that these courts will issue an interpretation of Section 280E favorable to the cannabis industry. Further, there are several pieces of legislation being considered by the U.S. Congress that could change the interpretation of Section 280E by removing its applicability to the legalized cannabis industry. Changes in the Company’s deferred taxes were as follows: Acquired in Deferred Deferred Net balance Recognized in business tax tax at January 1 profit or loss combination Net asset liability As of December 31, 2020 Depreciation and amortization $ (8,004) $ (13,648) $ (193,382) $ (215,034) $ — $ (215,034) Accrued & prepaid expenses (7,681) 7,984 — 303 303 — Inventories (7,552) (18,633) — (26,185) — (26,185) Tax loss carryforward 3,223 16,756 — 19,979 19,979 — Tax asset (liability) before netting $ (20,014) $ (7,541) $ (193,382) $ (220,937) $ 20,282 $ (241,219) Balance sheet netting (14,754) 14,754 Net tax asset (liability) $ 5,528 $ (226,465) Acquired in Deferred Deferred Net balance Recognized in business tax tax at January 1 profit or loss combination Net asset liability As of December 31, 2019 Depreciation and amortization $ (5,163) $ 7,122 $ (9,963) $ (8,004) $ — $ (8,004) Accrued & prepaid expenses (455) (7,226) — (7,681) — (7,681) Share-based compensation 1,117 (1,117) — — — Inventories (890) (6,662) — (7,552) — (7,552) Tax loss carryforward 903 1,460 860 3,223 3,223 — Tax credit carryforward 536 (536) — — — — Tax asset (liability) before netting $ (3,952) $ (6,959) $ (9,103) $ (20,014) $ 3,223 $ (23,237) Balance sheet netting (595) 595 Net tax asset (liability) $ 2,628 $ (22,642) Future realization of the tax benefits of existing temporary differences and net operating loss carryforwards ultimately depends on the existence of sufficient taxable income within the carryforward period. As the Company generally files separate U.S. and state tax returns for each legal entity within the consolidated group, the Company must evaluate the realization of deferred tax assets separately. As of December 31, 2020, the Company performed an evaluation to determine whether the net deferred tax assets at each filing group could be recognized. The Company considered all available evidence, both positive and negative, which included the results of operations for the current and preceding years. The Company determined that Curaleaf, Inc., the U.S. parent company, along with its Kentucky, Maryland, Missouri, and Arizona operations should not recognize their deferred tax assets due to those companies being in cumulative loss positions. Under IRC 382, if a corporation undergoes an “ownership change,” the corporation’s ability to use its pre-change NOL carryforwards and other pre-change tax attributes to offset its post-change income may be limited. The Company has not completed a study to assess whether an “ownership change” has occurred or whether there have been multiple ownership changes since the Company became a “loss corporation” as defined in Section 382. Future changes in the Company’s share ownership, which may be outside of the Company’s control, may trigger an “ownership change.” In addition, future equity offerings or acquisitions that have equity as a component of the purchase price could result in an “ownership change.” If an “ownership change” has occurred or does occur in the future, utilization of the NOL carryforwards or other tax attributes may be limited, which could potentially result in increased future tax liability for the Company. Deferred tax assets have not been recognized with respect to the following items because it is deemed not probable that future taxable profit will be available against which the Company can utilize them. December 31, 2020 December 31, 2019 Gross amount Tax amount Gross amount Tax amount Deductible temporary differences $ 61,192 $ 17,948 $ 20,535 $ 5,798 Tax losses 146,387 40,727 65,345 17,447 $ 207,579 $ 58,675 $ 85,880 $ 23,245 At December 31, 2020 and 2019, the Company had tax loss carryforwards of $357,492 and $84,913, respectively, which begin to expire between 2021 through 2040 and 2020 through 2039, respectively. At December 31, 2020 and 2019, the Company had a tax loss carryforward of $132,003 and $70,753, respectively, which will never expire. The Company records tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances and information available at the reporting date. There is inherent uncertainty in quantifying income tax positions, especially considering the complex tax laws and regulations for federal, state and Canadian jurisdictions in which the Company operates. The Company has recorded tax benefits for those tax positions where it is more likely than not that a tax benefit will result upon ultimate settlement with a tax authority that has all relevant information. For those income tax positions where it is not more likely than not that a tax benefit will result, no tax benefit has been recognized in the consolidated financial statements. The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state and Canadian jurisdictions, where applicable. The Company is currently under IRS examination for the tax years 2016, 2017, and 2018. In one of its recent acquisitions, the Company identified tax positions where it was not probable that the tax authorities would accept its tax position, therefore the Company recorded additional tax liabilities for the expected ultimate settlement with the tax authorities. As of December 31, 2020, the Company recorded $2.9 million of unrecognized tax benefits in purchase accounting and expects there is reasonable possibility that these unrecognized tax benefits will change within 12 months due to expirations of statute of limitations or audit settlements. As of December 31, 2020, the Company also accrued interest and penalties of $0.8 million for its uncertain tax positions. The Company records interest and penalties related to income tax amounts as a component of income tax expense. The IRS proposed adjustments relating to the Company’s treatment of certain expenses under Section 280E, however, the Company is defending its tax reporting before the IRS. The outcome of this audit remains unclear at this point. The Company also intends to litigate any further such challenges because it currently believes all of its other tax positions can be sustained under an IRS examination. The ultimate resolution of tax matters could have a material effect on the Company's consolidated financial statements. As the IRS interpretations on Section 280E continue to evolve, the impact of any such challenges cannot be reliably estimated. The Company's tax years are still open under statute from December 31, 2016, to the present.

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2020
Earnings per share
Earnings per share	Note 17 – Earnings per share Basic and diluted loss per share attributable to Curaleaf Holdings, Inc. was calculated as follows: Three months ended Year ended December 31, December 31, 2020 2019 2020 2019 Numerator: Net loss $ (35,109) $ (27,152) $ (61,328) $ (69,848) Less: Net income (loss) attributable to redeemable non-controlling interest 165 (591) 407 (2,604) Net loss attributable to Curaleaf Holdings, Inc. — basic and diluted $ (35,274) $ (26,561) $ (61,735) $ (67,244) Denominator: Weighted average common shares outstanding — basic and diluted 660,398,593 468,445,941 557,192,899 462,911,053 Loss per share — basic and diluted $ (0.05) $ (0.06) $ (0.11) $ (0.15) The Company’s potentially dilutive securities, which include stock options to purchase shares of the Company, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to shareholders is the same. The Company excluded the following potential shares, presented based on amounts outstanding at each period end, from the computation of diluted loss per share attributable to Curaleaf, Inc. for the periods indicated because including them would have had an anti-dilutive effect: Year ended December 31, 2020 2019 Options to purchase SVS 25,315,627 26,919,615 There were no shares of stock held in escrow as of December 31, 2020. As of December 31, 2019, the Company had 688,349 shares held in escrow in connection with the Eureka acquisition.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2020
Segment Reporting
Segment Reporting	Note 18 – Segment Reporting The Company operates in two segments: the production and sale of cannabis via retail and wholesale channels (“Cannabis Operations”); and providing professional services including cultivation, processing and retail know-how and back office administration, intellectual property licensing, real estate leasing services and lending facilities to medical and adult-use cannabis licensees under management service agreements (“Non-Cannabis Operations”). Cannabis Non-Cannabis Total For the year ended December 31, 2020: Revenues $ 586,219 $ 40,418 $ 626,637 Gross profit 350,095 40,418 390,513 Income (loss) from operations 122,196 (58,512) 63,684 Net income (loss) 23,572 (84,900) (61,328) Cannabis Non-Cannabis Total For the year ended December 31, 2019: Revenues $ 173,857 47,161 $ 221,018 Gross profit 94,452 47,161 141,613 Loss from operations (6,348) (21,369) (27,717) Net loss (19,649) (50,199) (69,848) Cannabis Non-Cannabis Held for sale Total As of December 31, 2020: Total assets $ 2,114,424 $ 211,631 $ 58,504 $ 2,384,559 Total liabilities 672,796 330,399 7,181 1,010,376 Cannabis Non-Cannabis Held for sale Total As of December 31, 2019: Total assets $ 465,169 $ 271,757 $ — $ 736,926 Total liabilities 93,785 239,695 — 333,480

Commitments and contingencies

Commitments and contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and contingencies
Commitments and contingencies	Note 19 – Commitments and contingencies Leases The Company leases its facilities under operating leases that provide for the payment of real estate taxes and other operating costs in addition to normal rent. At December 31, 2020, approximate future minimum payments due under non-cancelable operating leases were as follows: Period Scheduled payments 2021 $ 48,669 2022 48,755 2023 46,855 2024 and thereafter 426,972 Total undiscounted lease liability 571,251 Impact of discount (282,332) Lease liability at December 31, 2020 288,919 Less current portion of lease liability (15,710) Less long-term lease liabilities transferred to liabilities associated with assets held for sale (2,714) Long-term portion of lease liability $ 270,495 Real estate leases typically extend for a period of 1–10 years. Some leases for office space include extension options exercisable up to one year before the end of the cancellable lease term. Typically, the option to renew the lease is for an additional period of 5 years after the end of the initial contract term and is at the option of the Company as the lessee. Lease payments are in substance fixed, and certain real estate leases include annual escalation clauses with reference to an index or contractual rate. The Company leases machinery and equipment but does not purchase or guarantee the value of leased assets. The Company considers these assets to be of low-value or short-term in nature and therefore no right-of use assets and lease liabilities are recognized for these leases. Expenses recognized relating to short-term leases and leases of low value during the years ended December 31, 2020 and 2019 were immaterial. The Company leases space for its offices, cultivation centers, and retail dispensaries. Key movements relating to the right-of-use lease asset balances are presented below: Carrying amount, January 1, 2020 $ 82,794 ROU assets acquired (Note 4) 155,662 Additions to leased assets 53,527 Depreciation charges (22,553) Transferred to assets held for sale (2,262) Carrying amount, December 31, 2020 $ 267,168 The total interest expense on lease liabilities for the year ended December 31, 2020 and 2019 was $18,962 and $6,357, respectively. The total depreciation expense on right-of-use assets (“ROU assets”) for the year ended December 31, 2020 and 2019 was $22,553 and $10,270, respectively, of which $6,644 and $0, respectively, was included in cost of goods sold. The total cash outflow for lease liability payments for the years ended December 31, 2020 and 2019 was $26,762 and $11,073, respectively. Indemnification agreements In the ordinary course of business, the Company may provide indemnification of varying scope and terms to vendors, lessors, business partners, and other parties with respect to certain matters including, but not limited to, losses arising out of breach of such agreements or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with members of its board of directors and senior management team that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. To date, the Company has not incurred any material costs as a result of such indemnification agreements. The Company does not believe that the outcome of any claims under indemnification arrangements will have a material effect on its financial position, results of operations or cash flows, and it has not accrued any liabilities related to such obligations in its consolidated financial statements. Legal The Company is involved in claims or lawsuits that arise in the ordinary course of business. Accruals for claims or lawsuits are provided to the extent that losses are deemed both probable and estimable. Although the ultimate outcome of these claims or lawsuits cannot be ascertained, on the basis of present information and advice received from counsel, it is management’s opinion that the disposition or ultimate determination of such claims or lawsuits will not have a material adverse effect on the Company. Among other legal disputes, the Company is currently involved in the following proceedings: Connecticut Arbitration . Pursuant to the Second Amended and Restated Operating Agreement of Doubling Road Holdings, LLC, the holders (the “Holders”) of a majority of the Series A-2 Units of Doubling Road Holdings had the right to require that PalliaTech CT, LLC or any Affiliate purchase all of the Series A-2 Units in exchange for shares of PalliaTech, Inc. (now Curaleaf, Inc.), the parent of PalliaTech CT, pursuant to a defined “Buy-Out Exchange Ratio.” On October 25, 2018, the Holders, the Company, and others entered into a Stipulation of Settlement in order to resolve a dispute with respect to the applicable Buy-Out Exchange Ratio for the Put Right. The Stipulation of Settlement provided, among other things, that PalliaTech CT purchased the Holders’ interests in exchange for (1) a payment of $40,142; (2) 4,755,548 SVS of Curaleaf Holdings, Inc.; and (3) the potential for additional equity in Curaleaf Holdings, Inc. depending on the results of a “Settlement Second Appraisal.” Pursuant to the Settlement Second Appraisal, dated December 12, 2019, and the terms of the Stipulation of Settlement, the Holders received 2,016,859 additional SVS. On January 23, 2020, the Holders filed claims in arbitration including for fraudulent inducement and breach of contract, relating primarily to a lock-up agreement that the Holders signed in connection with the Stipulation of Settlement. On February 28, 2020, Curaleaf Holdings, Inc. filed a response to the Statement of Claim. A schedule for the arbitration has not yet been established. Florida Arbitration / Litigation . On December 10, 2018, Jayson Weisz and SRC Medical Partners, LLC initiated an arbitration against PalliaTech Florida LLC. On March 19, 2019, Weisz and SRC derivatively on behalf of PalliaTech Florida LLC filed a complaint against Defendants Curaleaf Florida LLC, PalliaTech Florida, Inc., Joseph Lusardi, and Boris Jordan in the Complex Business Litigation Section in the Circuit Court of the Eleventh Judicial Circuit in and for Miami-Dade County, Florida. Plaintiffs’ derivative Complaint seeks the judicial dissolution of Curaleaf Florida LLC and asserts various causes of action against Defendants, including for breach of contract, civil conspiracy, breach of fiduciary duty, fraudulent transfer, and a declaratory judgment appointing Robins to the Board of Managers. On January 10, 2020, Weisz, JRF Group, and the Curaleaf entities entered into a Stipulation of Settlement pursuant to which all claims of Weisz and JRF Group against the Company and its affiliates were released without compensation and the Company purchased JRF Group’s interest in PalliaTech Florida LLC for consideration of 1,772,062 SVS and $2,500 in cash. During February 2020, SRC, PalliaTech Florida LLC, PalliaTech Florida, Inc., and Lusardi participated in a final arbitration hearing. In June 2020, the arbitrator issued a final order regarding SRC’s claims in the dispute. While no damages were awarded, the Company was ordered to buyout SRC’s interest in PT Florida. Based on the order, the parties agreed that the Company would acquire SRC’s interest in PT Florida for no cash and 2,375,000 SVS. In connection with this transaction, the Company agreed to pay SRC $1,750 cash to retire principal and interest on the half of the Secured Promissory Notes – 2029 held by SRC. The acquisition and retirement of the notes was completed in August 2020. Securities Class Action . On August 5, 2019, a purported class action was filed against the Company, Joseph Lusardi, Neil Davidson, and Jonathan Faucher (“Defendants”) in the United States District Court for the Eastern District of New York on behalf of persons or entities who purchased or otherwise acquired publicly traded securities of the Company from November 21, 2018 to July 22, 2019. On January 6, 2020, an Amended Class Action Complaint was filed against Defendants. The Amended Class Action Complaint alleges that Defendants made materially false and/or misleading statements regarding the Company’s CBD products based on a July 22, 2019 letter received from the U.S. Food and Drug Administration (“FDA Letter”). According to the Amended Class Action Complaint, the FDA Letter states that several of the CBD products sold on the Company’s website were “misbranded drugs” in violation of the Federal Food, Drug, and Cosmetic Act. The Amended Class Action Complaint asserts claims (1) against all Defendants for alleged violations of Section 10(b) of the Securities Exchange Act of 1934 and (2) against Lusardi, Davidson, and Faucher for alleged violations of Section 20(a) of the Securities Exchange Act of 1934. On March 6, 2020, Defendants filed a motion to dismiss, arguing that the Amended Class Action Complaint failed to allege (1) any false or misleading statement or omission, (2) scienter, (3) any domestic transactions, or (4) control person liability. On February 15, 2020, the Company’s motion to dismiss was granted with prejudice. Taxes The Company records tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances and information available at the reporting date. There is inherent uncertainty in quantifying income tax positions, especially considering the complex tax laws and regulations for federal, state and Canadian jurisdictions in which the Company operates. The Company has recorded tax benefits for those tax positions where it is more likely than not that a tax benefit will result upon ultimate settlement with a tax authority that has all relevant information. For those income tax positions where it is not more likely than not that a tax benefit will result, no tax benefit has been recognized in the consolidated financial statements. The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state and Canadian jurisdictions, where applicable. The Company is currently under IRS examination for the tax years 2016, 2017, and 2018. In one of its recent acquisitions, the Company identified tax positions where it was not probable that the tax authorities would accept its tax position, therefore the Company recorded additional tax liabilities for the expected ultimate settlement with the tax authorities. As of December 31, 2020, the Company recorded $2.9 million of unrecognized tax benefits in purchase accounting and expects there is reasonable possibility that these unrecognized tax benefits will change within 12 months due to expirations of statute of limitations or audit settlements. As of December 31, 2020, the Company also accrued interest and penalties of $0.8 million for its uncertain tax positions. The Company records interest and penalties related to income tax amounts as a component of income tax expense. The IRS has proposed adjustments relating to the Company’s treatment of certain expenses under Section 280E, however, the Company is defending its tax reporting positions before the IRS. The outcome of this audit remains unclear at this point. The Company also intends to litigate any further such challenges because it currently believes all of its other tax positions can be sustained under an IRS examination. The ultimate resolution of tax matters could have a material effect on the Company's consolidated financial statements. As the IRS interpretations on Section 280E continue to evolve, the impact of any such challenges cannot be reliably estimated. The Company's tax years are still open under statute from December 31, 2016, to the present.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2020
Related party transactions
Related party transactions	Note 20 – Related party transactions Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control. Related parties may be individuals or corporate entities. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. The Company incurred the following transactions with related parties during the years ended December 31, 2020 and 2019. Year ended Balances as of December 31, December 31, December 31, 2020 2019 2020 2019 Transaction Related party transactions Balance receivable (payable) Processing fees (1) $ 2,220 $ — $ — $ — Consulting fees (2) 1,225 319 — — Travel and reimbursement (2) 180 816 — — Rent expense, net (3) (208) 238 — — Contingent liability (4) — — — (18,000) Senior Unsecured Note - 2019 (5) — 237 — — Promissory Note - 2024 (6) 1,047 — (9,700) — Non-consolidated GR Companies (7) — — 5,947 — $ 4,464 $ 1,610 $ (3,753) $ (18,000) (1) For the year ended December 31, 2020, the Company recognized direct expenses of $2,220 for processing expenses with Sisu Extracts. Sisu Extracts, a state licensed processor in California, performed toll processing services for the Company during the reported periods. Cameron Forni, Select President, holds a passive investment in Sisu Extracts. Amounts recorded in connection with these expenses were recorded on a current cost basis at the time expenses were incurred. There are no ongoing contractual commitments related to these transactions. (2) For the year ended December 31, 2020, the Company recognized $1,000 of consulting expenses to Measure 8 Venture Partners, a company controlled by Boris Jordan, Executive Chairman, as well as $40 in travel and other business developement expenses. For the year ended December 31, 2020, the Company recognized consulting expenses of $74 and travel and business development expenses of $140 for work directly performed by Boris Jordan, Executive Chairman. For the year ended December 31, 2020, the Company recognized consulting expense of $151 for real estate management and advisory services to Frontline Real Estate Partners, LLC, a company controlled by Mitchell Kahn, a Board Member. Amounts recorded in connection with these expenses were recorded on a current cost basis at the time expenses were incurred. There are no ongoing contractual commitments related to these transactions. For the year ended December 31, 2019, the Company recognized travel and business development expenses of $34 as expense to Measure 8 Venture Partners. For the year ended December 31, 2019, the Company recognized consulting, travel and business development expenses related to the Company of $1,101 as payment to Sputnik Group LTD, a company controlled by Boris Jordan, Executive Chairman as of December 31, 2019. For the fiscal year 2020, the Sputnik Group LTD no longer meets the definition of a related party. Amounts recorded in connection with these expenses were recorded on a current cost basis at the time expenses were incurred. There are no ongoing contractual commitments related to these transactions. (3) For the years ended December 31, 2020 and 2019, the Company recognized a rent expense credit of $238 and rent expense of $238, respectively, for a sublease between Curaleaf NY LLC and Measure 8 Venture Partners LP, an entity controlled by Boris Jordan, Executive Chairman of the Company. For the year ended December 31, 2020, the Company recognized rent expense of $30 for a lease between GR Companies, Inc. and FREP Elm Place II, LLC, a company owned in part by Mitchell Kahn, a member of the Company’s board of directors. Both arrangements represent on-going contractual commitments based on executed leases. (4) As of December 31, 2019, the Company had a contingent consideration liability of $18,000 for the purchase of Curaleaf Massachusetts, Inc. payable upon the achievement of certain milestones. The liability was payable to Baldwin Holdings, LLC, of which Joseph F. Lusardi, the Company’s Executive Vice Chairman, has a direct equity interest. The contingent consideration liability was converted to a note payable in October 2020 (Note 11). See (6) below regarding details on this new related party arrangement. (5) For the year ended December 31, 2019, the Company recognized interest expense of $237 to Boris Jordan, Executive Chairman, and MedTech International Group, LLC, a company controlled by Boris Jordan, for interest on the Senior Unsecured Notes – 2019. The Company satisfied its full obligations under the Senior Unsecured Notes in December 2019, thus no interest expense is recognized in 2020. Amounts recorded in connection with these expenses were recorded on a current cost basis at the time expenses were incurred. There are no ongoing contractual commitments related to this transaction. (6) For the year ended December 31, 2020, the Company had an outstanding notes payable balance of $9,700 and recognized a related interest expense of $1,047 on the Promissory Note – 2024, which is held with Baldwin Holdings, LLC, in which Joseph F. Lusardi, the Company’s Executive Vice Chairman, has a direct equity interest. The Company entered into the Promissory Note – 2024 in October 2020 to replace the previously recorded contingent consideration liabilitilty (Note 11). Amounts recorded in connection with these expenses were recorded on a current cost basis at the time expenses were incurred. The liability contains certain repayment and interest components that represents on-going contractual commitments. (7) Through its acquisition of Grassroots, the Company acquired an option to purchase Maryland Compassionate Care and Well ness, LLC (“MCCW”) from its sole owner, KDW Maryland Holding Corporation (“KDW”), subject to regulatory approval. MCCW is the holder of cultivation, processing, and dispensary licenses in Maryland. The exercise price for the option is the cancellation of a secured promissory note issued by KDW to the Company in the principal amount of $32,000. MCCW is the sole owner of each of GR Vending MD Management, LLC and GR Vending MD, LLC. Mr. Kahn, a member of the Company’s board of directors, is a minority stockholder, the sole director and an officer of KDW. The Company recognized $132,234 for the prepayment for these non-consolidated GR Companies (See Note 4). The Company’s key management personnel have the authority and responsibility for planning, directing and controlling the activities of the Company and consists of the Company's executive management team and management directors. Key management personnel compensation and other related party expenses for the years ended December 31, 2020 and 2019 are as follows: Year ended December 31, Key management personnel compensation 2020 2019 Short-term employee benefits $ 3,023 $ 1,997 Other long-term benefits 46 27 Share-based payments 17,093 12,493 $ 20,162 $ 14,517

Fair value measurements and fin

Fair value measurements and financial risk management	12 Months Ended
	Dec. 31, 2020
Fair value measurements and financial risk management
Fair value measurements and financial risk management	Note 21 – Fair value measurements and financial risk management The Company’s financial instruments consist of cash, restricted cash and cash equivalents, notes receivable, accounts payable, accrued expenses, long-term debt and redeemable non-controlling interest contingency. The fair values of cash, restricted cash, notes receivable, accounts payable and accrued expenses approximate their carrying values due to the relatively short-term to maturity. The Company’s long-term notes payable carrying value at the effective interest rate approximates fair value. Financial instruments recorded at fair value are classified using a fair value hierarchy that reflects the significance of the inputs to fair value measurements. The three levels of hierarchy are: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly; and Level 3 – Inputs for the asset or liability that are not based on observable market data. The Company’s assets measured at fair value on a nonrecurring basis include investments, long-lived assets, indefinite-lived intangible assets and goodwill. The Company reviews the carrying amounts of such assets whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable or at least annually as of December 31, for indefinite-lived intangible assets and goodwill. Any resulting asset impairment would require that the asset be recorded at its fair value. The resulting fair value measurements of the assets are considered to be Level 3 measurements. There have been no transfers between fair value levels during the years ended December 31, 2020 and 2019. Fair value measurements as of December 31, 2020 using: Level 1 Level 2 Level 3 Total Assets: Biological assets $ — $ — $ 46,210 $ 46,210 $ — $ — $ 46,210 $ 46,210 Liabilities: Non-controlling interest redemption and contingent consideration liabilities $ — $ — $ 4,592 $ 4,592 $ — $ — $ 4,592 $ 4,592 Fair value measurements as of December 31, 2019 using: Level 1 Level 2 Level 3 Total Assets: Biological assets $ — $ — $ 19,197 $ 19,197 $ — $ — $ 19,197 $ 19,197 Liabilities: Non-controlling interest redemption and contingent consideration liabilities $ — $ — $ 35,310 $ 35,310 $ — $ — $ 35,310 $ 35,310 Biological assets The fair value of biological assets is categorized within Level 3 on the fair value hierarchy. The Company measures its biological assets at fair value less costs to sell. This is determined using a model which estimates the expected harvest yield in grams for plants that are actively growing, and then adjusts that amount for the expected selling price per gram in the market in which the biological asset is growing. The estimates used in determining the fair value of biological assets are subject to volatility and several uncontrollable factors, which could significantly affect the fair value of biological assets in future periods. The significant assumptions used in determining the fair value of biological assets include: · Expected yield by plant – represents the expected number of grams of finished cannabis inventory which are expected to be obtained from each harvested cannabis plant; · Wastage of plants – represents the weighted average percentage of biological assets which are expected to fail to mature into cannabis plants that can be harvested; · Duration of the production cycle – represents the weighted average number of weeks out of the 12 week growing cycle that biological assets have reached as of the measurement date; · Percentage of costs incurred as of this date compared to the total costs expected to be incurred – this is calculated as the cost per gram of harvested cannabis to complete the sale of cannabis plants post harvest, consisting of the cost of direct and indirect materials and labor related to further production, labeling, and packaging; · Percentage of costs incurred for each stage of plant growth – represents the direct and indirect production costs incurred that are capitalized; and · Market values – this is calculated as the current market price per gram in the market in which the biological asset is being produced. This is expected to approximate future selling price. The Company accretes fair value on a straight line basis according to stage of growth. As a result, a cannabis plant that is 50% through its 12 week growing cycle would be ascribed approximately 50% of its harvest date expected fair value. All plants are to be harvested cannabis and as of December 31, 2020 and 2019, on average, were 57% and 49% complete, respectively. An increase or decrease in the estimated sale price would result in a significant change in the fair value of biological assets. The following table highlights the sensitivities and impact of changes in significant assumptions to the fair value of biological assets: Signifcant inputs & Assumptions Sensitivity Inputs ('000s) Sensitivity (+/-) Impact on Fair Value ('000s) December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Total expected grams yielded 9,776 3,466 (+/-) 10% grams yield $ 3,017 $ 1,244 Average cost per gram to complete production $ 1.78 $ 1.95 (+/-) $1.00 per gram $ 9,734 $ 3,469 Average selling price per gram, less cost $ 3.09 $ 3.59 (+/-) $1.00 per gram $ 9,713 $ 3,464 Non-controlling interest contingency and buyout During 2018, the Company agreed to acquire the remaining non-controlling interest in Costa Nursery Farms, LLC, d/b/a Modern Health Concepts (“MHC”) and Double Road Holdings, LLC (“DRH”), therefore voiding the non-controlling interest put options and the non-controlling interest purchased call options from the original agreements. The MHC acquisition’s consideration was for $25,000 in cash as well as common stock and the DRH acquisition’s consideration was for $40,142 in cash as well as common stock. Upon closing of each acquisition, the Company reversed the non-controlling interest contingency liabilities. The non-controlling interest in MHC of $12,000 was calculated using the fair value method of the assets acquired and liabilities assumed. The value used in this determination was the purchase price for the controlling interest. The Company used the fair value method as it believes that the risks and rewards of the acquired entity are shared by the Company and the holder of the non-controlling interest. The MHC Agreement contained a put option under which the holder of the non-controlling interest could require the Company to redeem its equity interest in MHC. The redemption value was to be determined by mutual agreement or by an independent valuation expert subject to certain parameters that include a “floor” amount of $12,000 and a “ceiling” amount equal to 75% of the excess of the fair market value over $40,000 times the percentage interest held by the holder of the non-controlling interest (30% at the acquisition date). The Company had a call option under which it may require the holder of the non-controlling interest to sell under the same terms. PT Florida was owned 77.2% by the Company and 22.8% by third parties (the “Remaining Florida Minority Holders”). The Remaining Florida Minority Holders, through their 22.8% non-controlling interest in PT Florida, indirectly held a 15.9% non-controlling interest in MHC as of December 31, 2019. In January 2020, half of the Remaining Florida Minority Holders agreed to sell their 11.4% equity in PT Florida for consideration of $2,500 cash and 1,772,062 SVS, valued at $12,272. In connection with this transaction, the Company paid the selling Remaining Florida Minority Holders $1,651 cash to retire principal and interest on the half of the Secured Promissory Notes – 2029 held by the selling Remaining Florida Minority Holders (See Note 11). In August 2020, the remaining half of the Remaining Florida Minority Holders agreed to sell their 11.4% equity in PT Florida for consideration of no cash and 2,375,000 SVS, valued at $19,996. In connection with this transaction, the Company paid the selling Remaining Florida Minority Holders $1,766 cash to retire principal and interest on the remaining half of the Secured Promissory Notes – 2029 held by the selling Remaining Florida Minority Holders (See Note 11). In October 2018, the Company agreed to acquire from the minority members of DRH (the “DRH Minority Members”) their remaining 49% membership interests in DRH (the “DRH Minority Membership Units”) in consideration for $40,142 in cash (the “Connecticut Minority Buy-Out”) and $41,747 which was settled through the issuance of 4,755,548 SVS. This transaction closed immediately following completion of the Business Combination discussed in Note 3. The number of SVS to be paid to the DRH Minority Members for the DRH Minority Membership Units may be adjusted based upon an independent valuation to be conducted following the completion of the Business Combination. The valuation will first establish the value of DRH as a percentage of the value of Curaleaf Inc. as at March 8, 2018 (the “Exchange Ratio”), and then convert the Exchange Ratio into a percentage of the fully diluted equity as of the date of the Business Combination, not taking into account shares to be issued in connection with the Private Placement (the “Diluted Share Count”). Upon completion of this valuation, the number of additional SVS to be issued to DRH Minority Members shall be determined based on a prescribed formula, provided that the aggregate number of SVS issued to the DRH Minority Holders shall not exceed an additional 1.96% of the Diluted Share Count representing 8,962,380 SVS. In February 2020, the Company issued 2,016,858 SVS to the former minority members of DRH as a result of the second independent valuation. As of both December 31, 2020 and 2019 the Company recognized a non-controlling interest buyout liability in the amount of $2,694, with the offset being recognized in redeemable non-controlling interest buyout as contra equity. An increase or decrease in the weighted average cost of capital (“WACC”) would result in an insignificant change in the fair value of the non-controlling interest contingency. Financial Risk Management The Company is exposed in varying degrees to a variety of financial instrument related risks. The Company’s risk exposures and the impact on the Company’s financial instruments are summarized below: Credit Risk Credit risk is the risk of a potential loss to the Company if a customer or third party to a financial instrument fails to meet its contractual obligations and arises principally from the Company’s notes and accounts receivable. The maximum credit exposure at December 31, 2020 and 2019 is the carrying amount of cash and cash equivalents, accounts receivable and notes receivable. The Company does not have significant credit risk with respect to its customers. All cash and cash equivalents are placed with major U.S. financial institutions. The Company provides credit to its wholesale and MSA customers in the normal course of business and has established processes to mitigate credit risk. The amounts reported in the consolidated statements of financial position are net of allowances for bad debts, estimated by the Company’s management based on prior experience and its assessment of the current economic environment. The Company reviews its trade receivable accounts regularly and reduces amounts to their expected realizable values by adjusting the allowance for doubtful accounts when management determines that the account may not be fully collectible. The Company applies the IFRS 9 simplified approach to measuring expected credit losses (“ECL”) which uses a lifetime expected loss allowance for all trade receivables. The Company has not adopted standardized credit policies, but rather assesses credit on a customer-by-customer basis in an effort to minimize those risks. As of December 31, 2020, the Company recognized a $494 provision for expected credit losses. No provision was recognized for the year ended December 31, 2019. The Company’s aging of trade receivables was as follows: December 31, December 31, 2020 2019 0 to 90 days $ 25,180 $ 10,471 91 to 180 days 236 1,853 181 days + 967 5,015 Total accounts receivable, net $ 26,383 $ 17,339 Liquidity Risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations associated with financial liabilities. The Company manages liquidity risk through the management of its capital structure. The Company’s approach to managing liquidity is to ensure that it will have sufficient liquidity to settle obligations and liabilities when due. In addition to the commitments outlined for notes payable in Note 11 and lease liabilities in Note 19, the Company has the following gross remaining contractual obligations: < 1 Year 1 to 3 Years Total For the year ended December 31, 2020: Accounts payable $ 47,043 $ — $ 47,043 Accrued expenses 57,475 — 57,475 Other current liabilities 6,568 — 6,568 Non-controlling interest redemption liability — 2,694 2,694 Contingent consideration liability — 1,898 1,898 $ 111,086 $ 4,592 $ 115,678 < 1 Year 1 to 3 Years Total For the year ended December 31, 2019: Accounts payable $ 12,742 $ — $ 12,742 Accrued expenses 18,016 — 18,016 Other current liabilities 31,549 — 31,549 Non-controlling interest redemption liability — 2,694 2,694 Contingent consideration liability — 32,616 32,616 $ 62,307 $ 35,310 $ 97,617 The Company is monitoring the impacts of COVID-19 closely, and although liquidity has not been materially affected by the COVID-19 outbreak to date, the ultimate severity of the outbreak and its impact on the economic environment is uncertain. Given the current uncertainty of the future economic environment, the Company has taken additional measures in monitoring and deploying its capital to minimize the negative impact on liquidity. Interest Rate Risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Cash and cash equivalents bear interest at market rates. The Company’s notes receivable and financial debts have fixed rates of interest and are carried at amortized cost. The Company does not account for any fixed-rate financial assets or financial liabilities at fair value, therefore, a change in interest rates at the reporting date would not affect profit or loss. Capital Management The Company’s objectives when managing capital are to ensure that there are adequate capital resources to safeguard the Company’s ability to continue as a going concern and maintain adequate levels of funding to support its ongoing operations and development such that it can continue to provide returns to shareholders and benefits for other stakeholders. The capital structure of the Company consists of items included in shareholders’ equity and debt, net of cash and cash equivalents. The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the Company’s underlying assets. The Company plans to use existing funds, as well as funds from the future sale of products to fund operations and expansion activities. As disclosed in Note 11, the Company has various notes payable in place. Certain of these notes are subject to financial covenants which are mainly in the form of cash related covenants. Other than these items related to notes payable, as of December 31, 2020 and December 31, 2019, the Company was not subject to externally imposed capital requirements.

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2020
Subsequent events
Subsequent events	Note 22 – Subsequent events In January 2021, the Company entered into a $50,000 secured credit facility (the “Credit Agreement”) with a syndicate of lenders which matures on January 10, 2024. The net proceeds from borrowings under the Credit Agreement are expected to be used to fund capital expenditures to support future growth initiatives, potential acquisitions, and for general corporate purposes. Borrowings under the Credit Agreement bear interest on any outstanding principal of 10.25% per annum. The facility was fully drawn at closing. The Credit Agreement may be pre-paid but is subject to a prepayment premium dependent on the loan year. Any prepayment made between January 8, 2022 and January 7, 2023, will incur a prepayment premium of 5.125%. Any prepayment made between January 8, 2023 and January 7, 2024, will incur a prepayment premium of 2.50%. The Credit Agreement is subject to a yield maintenance premium. The yield maintenance premium is paid based on amounts repaid. The premium is determined by the amount of interest that would have otherwise been payable on the prepayment less the aggregate amount of interest that would have been earned if the prepayment were to be reinvested from the date of prepayment until January 8, 2022 at the yield maintenance premium rate. The yield maintenance premium rate is the rate per annum equal to the rate in effect 3 days before the repayment date for U.S. Treasury instruments that have a maximum term of 3 months or less times 0.50%. The Credit Agreement contains other terms substantially similar to the Financing Agreement – 2023. On January 12, 2021, the Company closed on its previously announced overnight marketed offering (the “Offering”) of 18,975,000 SVS at a price of C$16.70 per share in an underwritten public offering exercised through an over-allotment option by the underwriters, for total gross proceeds of C$316,883, before deducting the underwriters’ fees and estimated offering expense. The Company intends to use the net proceeds of $240,569 from the Offering for working capital and general corporate purposes. See Note 19 for information regarding developments in certain legal proceedings that occurred after December 31, 2020. See Note 4 for information regarding acquisitions that were signed after December 31, 2020.

Basis of presentation (Policies

Basis of presentation (Policies)	12 Months Ended
	Dec. 31, 2020
Basis of presentation
Functional currency	Functional currency The Company and its subsidiaries’ functional currency, as determined by management, is the United States (“U.S.”) dollar. The consolidated financial statements are presented in U.S. dollars unless otherwise stated.
Basis of consolidation	Basis of consolidation Subsidiaries are the entities controlled by the Company. Control exists when the Company has the power, directly and indirectly, to govern the financial and operating policies of an entity and is exposed to the variable returns from its activities. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Non-controlling (“NCI”) interests are measured initially at their proportionate share of the acquiree’s identifiable net assets at the date of acquisition. Changes in the Companys’s interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions When the Company loses control over a subsidiary, it derecognizes the assets and liabilities of the subsidiary, and any related NCI and other components of equity. Any resulting gain or loss is recognized in the statement of profits and losses. Any interest retained in the former subsidiary is measured at fair value when control is lost. These consolidated financial statements include the accounts of the Company and its direct subsidiaries, indirect subsidiaries that are not wholly owned and other entities consolidated other than on the basis of ownership : December 31, December 31, State of 2020 2019 Business name operations ownership % ownership % CLF AZ, Inc. AZ 100% 100% CLF NY, Inc. NY 100% 100% Curaleaf CA, Inc. CA 100% 100% Curaleaf KY, Inc. KY 100% 100% Curaleaf Massachusetts, Inc. MA 100% 100% Curaleaf MD, LLC MD 100% 100% Curaleaf OGT, Inc. OH 100% 100% Curaleaf PA, LLC PA 100% 100% Curaleaf, Inc. MA 100% 100% Focused Investment Partners, LLC MA 100% 100% CLF Maine, Inc. ME 100% 100% PalliaTech RI, LLC RI 100% 100% PalliaTech CT, Inc. CT 100% 100% PalliaTech OR, LLC (formerly Groen) OR 100% 100% PalliaTech Florida, Inc. FL 100% 100% PalliaTech Florida, LLC (Note 19) FL 100% 77.2% Curaleaf Florida, LLC FL 100% 70% CLF MD Processing, LLC MD 100% 100% PT Nevada, Inc. (Note 4) NV 100% 100% CLF Sapphire Holdings, Inc. (Note 4) OR 100% — Curaleaf NJ II, Inc. (Note 4) NJ 100% * Focused Employer, Inc. MA 100% * GR Companies, Inc. (Note 4) IL 100% — HMS Health LLC (Note 4) MD — — HMS Processing LLC (Note 4) MD — — HMS Sales LLC (Note 4) MD — — MI Health LLC (Note 4) MD — — Town Center Wellness, LLC (Note 4) MD — — Grassroots OpCo AR, LLC (Note 4) AR — — WCCC, LLC (Note 4) IL — — Compass Dispensary Holdings, LLC (Note 4) IL — — Greenhouse Group, LLC (Note 4) IL — — GR Vending MI, LLC (Note 4) IL — — GR Companies OK, LLC (Note 4) OK — — Remedy Compassion Center, Inc (Note 4) ME — — Primary Organic Therapy, Inc. (d/b/a Maine Organic Therapy) (Note 4) ME — — All significant intercompany balances and transactions were eliminated on consolidation. *Entity established in fiscal year 2020.
Basis of measurement	Basis of measurement The consolidated financial statements have been prepared on a historical cost basis, except for biological assets and assets held for sale, which are measured at fair value less costs to sell; notes receivable measured at fair value through profit or losss (“FVTPL”); and liabilities for cash-settled share-based payment arrangements and contingent considerations assumed in a business combination, which are recorded at fair value. Historical costs are generally based upon the fair value of the consideration given in exchange for assets and contractual obligation for liabilities.
Cash and cash equivalents	Cash and cash equivalents The Company considers all highly liquid instruments with original maturities at time of purchase of 90 days or less to be cash equivalents.
Restricted cash	Restricted cash Restricted cash balances are those which meet the definition of cash and cash equivalents but are not available for use by the Company. As of December 31, 2020 and 2019, other assets included restricted cash in the amounts of $0 and $500, respectively, which was related to amounts that were held in escrow with $125 being transferred to a third party on a monthly basis for consulting services.
Inventories	Inventories Inventories are stated at lower of cost or net realizable value (“NRV”). NRV is determined as the estimated selling price in the ordinary course of business less estimated costs to sell. Packaging and supplies are initially valued at cost. The Company utilizes the most reliable evidence available to determine if inventories should be written-down below its current carrying value. The direct and indirect costs of inventories initially include the fair value of the biological asset at the time of harvest. They also include subsequent costs such as materials, labor, and depreciation expense on equipment involved in trimming and packaging. All direct and indirect costs related to inventories are capitalized as they are incurred and subsequently recorded within the line item “cost of goods sold” in the consolidated statement of profits and losses at the time the product is sold.
Biological assets	Biological assets Expenditures incurred on biological assets are measured on initial recognition and at the end of each reporting period at their fair value less costs to sell in accordance with IAS 41 – Agriculture . The unrealized gain or loss arising on initial recognition of such biological assets at fair value less costs to sell and the change in fair value less costs to sell of biological assets are included in the consolidated statement of profits and losses for the period in which it arises. While the Company’s biological assets are within the scope of IAS 41 , the direct and indirect costs of production are determined using an approach similar to the recognition criteria within the scope of IAS 2 – Inventories . These production costs incurred during the growing process are capitalized and included in the fair value of biological assets. These direct and indirect costs include but are not limited to material, labor, supplies, depreciation expense on production equipment, utilities, and facilities costs associated with cultivation. Capitalized costs are subsequently recorded within the line item “cost of goods sold” in the consolidated statement of profits and losses in the period that the related product is sold.
Property, plant and equipment	Property, plant and equipment Property, plant and equipment are stated at cost, net of accumulated depreciation and impairment losses, if any. Depreciation is calculated on a straight-line basis over the estimated useful life of the asset using the following terms and methods: Estimated useful life Information technology 5 years Furniture and fixtures 7 years Building and improvements 15 to 39 years Leasehold improvements Lesser of lease term or 7 to 10 years The assets’ residual values, useful lives and methods of depreciation are reviewed at each financial year-end and adjusted prospectively if appropriate. Construction in progress is measured at cost. Upon completion, construction in progress will be reclassified as building or leasehold improvements depending on the nature of the assets and depreciated over the lesser of the estimated useful life of the asset or term of the lease. Subsequent expenditures are capitalized only if it is probable that the expenditure will provide future economic benefits to the Company. An item of equipment is derecognized upon disposal or when no future economic benefits are expected from its use. Any gain or loss arising from derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying value of the asset) is included in the consolidated statement of profits and losses in the year the asset is derecognized. IAS 36 – Impairment of Assets (“IAS 36”) requires that tangible assets be carried at no more than their recoverable amount. To meet this objective, the Company tests all assets that are within this scope for the existence of potential impairment.
Intangible assets subject to amortization	Intangible assets subject to amortization Intangible assets include intellectual property either owned by the Company or for which the Company has a license. Intangible assets include licenses to cultivate, process and sell cannabis, trade names and non-compete agreements obtained through business acquisitions. Intangible assets acquired in a business combination are recognized at fair value using generally accepted valuation methods deemed appropriate for the type of intangible asset acquired. Generally, the Company utilizes the discounted cash flow method for valuing licenses, the relief from royalty method for valuing trade names and the with or without cash flow method for valuing non-compete agreements. Intangible assets with finite lives are amortized over their estimated useful lives and reported net of accumulated amortization, separately from goodwill. Amortization is calculated on the straight-line method based on the following estimated useful lives: Estimated useful life Licenses 10-20 years Trade names 5-15 years Non-compete agreements 1-2 years The estimated useful lives, residual values, and amortization methods are reviewed at each year-end, and any changes in estimates are accounted for prospectively. IAS 36 requires that intangible assets be carried at no more than their recoverable amount. To meet this objective, the Company tests all assets that are within this scope for potential impairment. Subsequent expenditures are capitalized only when expenditures increase the future economic benefits embodied in the specific assets to which the expenditure relates. All other expenditures, including expenditures on internally generated goodwill and brands, are recognized in the consolidated statements of profits and losses as incurred.
Goodwill	Goodwill Goodwill represents the excess of the purchase price paid for the acquisition of an entity over the fair value of the net tangible and intangible assets acquired. Goodwill is allocated to the cash generating unit (“CGU” or “CGUs”) which are expected to benefit from the synergies of the combination. In determining its CGUs, the Company has completed an internal analysis to identify the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. Given the nature of the Company’s business, management generally identifies CGUs based on both regions and acquired business entities. The Company has determined that the goodwill recognized in connection with all acquisitions to date belong to the cannabis operations segment. Goodwill is not subject to amortization and is tested annually for impairment, or more frequently if events or changes in circumstances indicate that it might be impaired in accordance with IAS 36 . Impairment is determined by assessing if the carrying value of a CGU, including the allocated goodwill, exceeds its recoverable amount determined as the greater of the estimated fair value less costs to sell and the value in use. The Company performs the analysis on a CGU level using a discounted cash flow method. Impairment losses recognized in respect of a CGU are first allocated to the carrying value of goodwill and any excess is allocated to the carrying amount of assets in the CGU. Any goodwill impairment loss is recognized in the consolidated statement of profits and losses in the period in which the impairment is identified. Impairment losses on goodwill are not subsequently reversed.
Debt with warrants and convertible options	Debt with warrants and convertible options The Company issues debt that may have separate warrants, conversion features or no equity-linked attributes which are accounted for as compound or hybrid financial instruments based on its features. Convertible notes and debt with warrants classified as compound financial instruments are accounted for separately by their components: a financial liability and an equity instrument. The liability component is initially recognized at the fair value of a similar liability that does not have an equity conversion option. The equity component is initially recognized at the difference between the fair value of the compound financial instrument as a whole and the fair value of the liability component. Subsequent to initial recognition, the liability component is measured at amortized cost using the effective interest method. The equity component is not remeasured. No gain or loss is recognized at maturity or early conversion of the debt. For convertible notes and debt with warrants classified as hybrid financial instruments, the Company elects on an instrument by instrument basis to bifurcate embedded derivatives or fair value of the entire instrument.
Leased assets	Leased assets The Company primarily leases office and production facilities, warehouses, production equipment and vehicles. The Company assesses service arrangements to determine if an asset is explicitly or implicitly specified in the agreement and if the Company has the right to control the use of the identified asset. The right-of-use asset is initially measured at cost, which is primarily comprised of the initial amount of the lease liability, plus initial direct costs and lease payments at or before the lease commencement date, less any lease incentives received, and is amortized on a straightline basis over the remaining lease term. All right-of-use assets are reviewed periodically for impairment. The lease liability is initially measured at the present value of lease payments, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the incremental borrowing rate. The Company elected to recognize expenses for leases with a term of 12 months or less on a straight-line basis over the lease term and not to recognize these short-term leases on the balance sheet. Leases have varying terms with remaining lease terms of up to approximately 30 years. Certain of the Company’s lease arrangements provide the Company with the option to extend or to terminate the lease early. Lease payments included in the measurement of the lease liability comprise (a) fixed payments, including in-substance fixed payments; (b) variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date; (c) amounts expected to be payable under a residual value guarantee; and (d) the exercise price under a purchase option that the Company is reasonably certain to exercise, lease payments in an optional renewal period if the Company is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless the Company is reasonably certain not to terminate early. At inception or reassessment of a contract that contains lease and non-lease components, the Company allocates the consideration in the contract to each lease component on the basis of their relative stand-alone prices.
Income taxes	Income taxes Income tax expense comprises current and deferred tax. It is recognized in the consolidated statement of profits and losses except to the extent that it relates to a business combination, or items recognized directly in equity or in other income. Interest and penalties related to income taxes, including uncertain tax treatments, are accounted for under IFRIC 23 – Uncertainty over Income Tax Treatments . Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustments to the tax payable or receivable with respect to previous years. The amount of current tax payable or receivable is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. It is measured using tax rates enacted or substantively enacted at the reporting date. Current tax also includes any tax arising from dividends. Current tax assets and liabilities are offset only if certain criteria are met. Deferred tax is recognized with respect to temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognized for: · temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss; · temporary differences related to investments in subsidiaries, associates and joint arrangements to the extent that the Company is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future; and · taxable temporary differences arising on the initial recognition of goodwill. Deferred tax assets are recognized for unused tax losses, unused tax credits and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be used. Future taxable profits are determined based on the reversal of relevant taxable temporary differences. If the amount of taxable temporary differences is insufficient to recognize a deferred tax asset in full, then future taxable profits, adjusted for reversals of existing temporary differences, are considered, based on the business plans for individual subsidiaries in the Company. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized; such reductions are reversed when the probability of future taxable profit improves. Unrecognized deferred tax assets are reassessed at each reporting date and recognized to the extent that it has become probable that future taxable profits will be available against which they can be used. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date. The measurement of deferred tax reflects the tax consequences that would follow from the manner in which the Company expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities. Deferred tax assets and liabilities are offset only if certain criteria are met.
Revenue recognition	Revenue recognition The Company generates revenue from the sale of cannabis, cannabis related products and provision of services. In accordance with IFRS 15 – Revenue from Contracts with Customers, the Company uses the following five-step approach to determine the timing and amount of revenue to be recognized: i. identify the contract with the customer; ii. identify the performance obligation(s) in the contract; iii. determine the transaction price; iv. allocate the transaction price to the performance obligation(s); and v. recognize revenue when (or as) performance obligation(s) is/are satisfied. Revenue from the sale of cannabis is recognized at the point in time when control over the goods have been transferred to the customer. The Company transfers control and satisfies its performance obligation upon delivery and acceptance by the customer. Revenue from management services fees are recognized over the term of the arrangement as services are provided. Revenue is presented net of discounts and sales and other related taxes.
Share-based payment arrangements	Share-based payment arrangements The Company measures all share-based payment arrangements to employees and directors at the fair value on the date of the grant. The Company uses the Black-Scholes valuation model to determine the grant-date fair value of options and warrants. The inputs into the Black-Scholes valuation model, including the expected term of the instrument, expected volatility, risk-free interest rate and dividend rate are determined by reference to the underlying terms of the instrument, and the Company’s experience with similar instruments. In instances where stock options have performance or market conditions, the Company utilizes the Monte Carlo valuation model to simulate the various outcomes that affect the value of the option. The grant-date fair value of equity-settled share-based payment arrangements is generally recognized as an expense, with a corresponding increase in equity, over the vesting period of the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service conditions are expected to be met, such that the amount ultimately recognized is based on the number of awards that meet the related service conditions at the vesting date.
Earnings per share, basic and diluted	Earnings per share, basic and diluted The Company presents basic and diluted earnings per share. Basic earnings per share is calculated by dividing the profit or loss attributable to shareholders by the weighted average number of shares outstanding during the period. Diluted earnings per share is determined by adjusting the profit or loss attributable to shareholders and the weighted average number of shares outstanding, for the effects of all dilutive potential shares, which comprise warrants, convertible debt and options issued. Items with an anti-dilutive impact are excluded from the calculation. The number of shares included with respect to options, warrants and similar instruments is computed using the treasury stock method.
Related party transactions	Related party transactions Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control. Related parties may be individuals or entities. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties.
Financial instruments	Financial instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument to another entity. Financial assets and financial liabilities are recognized in the consolidated statement of financial position at the time the Company becomes a party to the contractual provisions of the financial instrument. Initial measurement of financial assets and financial liabilities Financial assets and liabilities are recognized at fair value upon initial recognition plus any directly attributable transaction costs when not subsequently measured at fair value through profit or loss. Transaction costs are expensed in the period incurred through the consolidated statement of profits and losses. Subsequent measurement Measurement in subsequent periods is dependent on the classification of the financial instrument. On initial recognition of an equity investment that is not held for trading, the Company may irrevocably elect to present subsequent changes in the investment’s fair value in OCI. This election is made on an investment-by-investment basis. All financial assets not classified as measured at amortised cost or fair value through other comprehensive income (loss) (“ FVTOCI”) as described below are measured at FVTPL. This includes all derivative financial assets. On initial recognition, the Company may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortised cost or at FVTOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise. Financial assets are not reclassified subsequent to their initial recognition unless the Company changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model.
Classification	Classification The Company classifies its financial instruments in the following categories: at FVTPL, at FVTOCI or at amortized cost. The Company determines the classification of financial assets at initial recognition. The classification of debt instruments is driven by the Company’s business model for managing the financial assets and their contractual cash flow characteristics. Equity instruments that are held for trading are classified as FVTPL. For other equity instruments, on the day of acquisition the Company can make an irrevocable election (on an instrument-by-instrument basis) to designate them as at FVTOCI. Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or the Company has opted to measure them at FVTPL.
Measurement	Measurement Financial assets at FVTOCI Elected investments in equity instruments at FVTOCI are initially recognized at fair value plus transaction costs. Subsequently they are measured at fair value, with gains and losses recognized in other comprehensive income (loss). Financial assets and liabilities at amortized cost Financial assets and liabilities, including accounts receivable and notes receivables, at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost less any impairment. Financial assets and liabilities at FVTPL Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the consolidated statements of profits and losses. Realized and unrealized gains and losses arising from changes in the fair value of the financial assets and liabilities held at FVTPL are included in the consolidated statements of profits and losses in the period in which they arise. Where management has opted to recognize a financial liability at FVTPL, any changes associated with the Company’s own credit risk will be recognized in other comprehensive income (loss).
Impairment of financial assets at amortized cost	Impairment of financial assets at amortized cost The Company recognizes a loss allowance for expected credit losses on financial assets that are measured at amortized cost. At each reporting date, the Company measures the loss allowance for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset has not increased significantly since initial recognition, the Company measures the loss allowance for the financial asset at an amount equal to the twelve month expected credit losses. The Company recognizes in the consolidated statements of profits and losses, as an impairment loss or gain, the amount of expected credit losses or reversal that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized.
Derecognition	Derecognition Financial assets The Company derecognizes financial assets only when the contractual rights to cash flows from the financial assets expire, or when it transfers the financial assets and substantially all of the associated risks and rewards of ownership to another entity. Gains and losses on derecognition are generally recognized in the consolidated statements of profits and losses. Financial liabilities The Company derecognizes financial liabilities only when its obligations under the financial liabilities are discharged, cancelled or expired. Generally, the difference between the carrying amount of the financial liability derecognized and the consideration paid and payable, including any non-cash assets transferred or liabilities assumed, is recognized in the consolidated statement of profits and losses.
Significant accounting judgments, estimates and assumptions	Significant accounting judgments, estimates and assumptions The preparation of the Company’s consolidated financial statements requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, and revenue and expenses. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. Significant judgments, estimates and assumptions that have the most significant effect on the amounts recognized in the consolidated financial statements are described below. Biological assets Biological assets are dependent upon estimates of future economic benefits as a result of past events to determine the fair value through an exercise of significant judgment by the Company. In estimating the fair value of an asset or a liability, the Company uses market observable data to the extent it is available. The Company uses the average selling price per gram in the market in which the biological assets are produced to determine fair value. The Company reevaluates market prices on a quarterly basis in order to ensure biological assets are measured at the most relevant fair value. Business combinations In a business combination, all identifiable assets, liabilities and contingent liabilities acquired are recorded at their fair values. The Company accounts for business combinations using the acquisition method when the acquired set of activities and assets meets the definition of a business and control is transferred to the Company. In determining whether a particular set of activities and assets is a business, the Company assesses whether the set of assets and activities acquired includes, at a minimum, an input and substantive process and whether the acquired set has the ability to produce outputs. One of the most significant estimates relates to the determination of the fair value of assets and liabilities of the acquiree. Any goodwill that arises is tested annually for impairment. Any gain on a bargain purchase is recognized in the statement of profits and losses immediately. Transaction costs are expensed as incurred, except if related to the issue of debt or equity securities. The consideration transferred does not include amounts related to the settlement of pre-existing relationships. Such amounts are generally recognized in the statement of profits and losses. Contingent consideration is measured at its acquisition-date fair value and included as part of the consideration transferred in a business combination. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates and its subsequent settlement is accounted for within equity. Contingent consideration that is classified as an asset or a liability is remeasured at subsequent reporting dates in accordance with IFRS 9 – Financial Instruments with the corresponding gain or loss being recognized in the consolidated statement of profits and losses. For any intangible asset identified, depending on the type of intangible asset and the complexity of determining its fair value, an independent valuation expert or management may develop the fair value, using appropriate valuation techniques, which are generally based on a forecast of the total expected future net cash flows. The evaluations are linked closely to the assumptions made by management regarding the future performance of the assets concerned and any changes in the discount rate applied. Certain fair values may be estimated at the acquisition date pending confirmation or completion of the valuation process. Where provisional values are used in accounting for a business combination, they may be adjusted retrospectively in subsequent periods, not to exceed one year from the acquisition date. The Company utilizes the guidance prescribed by Amendments to IFRS 3 – Definition of a Business (the “IFRS 3 Amendment”) . The IFRS 3 Amendment changes the definition of a business and allows entities to use a concentration test to determine if transactions should be accounted for as a business combination or an asset acquisition. Under the optional concentration test, where substantially all of the fair value of gross assets acquired is concentrated in a single asset (or a group of similar assets), the assets acquired would not represent a business and the transaction would be accounted for as an asset acquisition. Management performs a concentration test where appropriate and if the concentration of assets is 85% or above, the transaction is generally accounted for as an asset acquisition. Compound financial instruments The identification of components in compound financial instruments is based on interpretations of the substance of the contractual arrangement and therefore requires judgment from management. The separation of the components affects the initial recognition at issuance and the subsequent recognition of interest on the liability component. The determination of the fair value of the liability is also based on a number of assumptions, including contractual future cash flows, discount rates and the presence of any derivative financial instruments. Share-based payment arrangements The Company uses the Black-Scholes valuation model to determine the fair value of options granted to employees and directors under share-based payment arrangements, where appropriate. In instances where stock options have performance or market conditions, the Company utilized the Monte Carlo valuation model to simulate the various outcomes that affect the value of the option. In estimating fair value, management is required to make certain assumptions and estimates such as the expected life of units, volatility of the Company’s future share price, risk free rates, future dividend yields and estimated forfeitures at the initial grant date. Changes in assumptions used to estimate fair value could result in materially different results. Goodwill impairment Goodwill is allocated to the cash generating unit (“CGU” or “CGUs”) which are expected to benefit from the synergies of the combination. In determining its CGUs, the Company has completed an internal analysis to identify the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. Given the nature of the Company’s business, management generally identifies CGUs based on both regions and acquired business entities. Goodwill is not subject to amortization and is tested annually for impairment, or more frequently if events or changes in circumstances indicate that it might be impaired in accordance with IAS 36 . Impairment is determined by assessing if the carrying value of a CGU, including the allocated goodwill, exceeds its recoverable amount determined as the greater of the estimated fair value less costs to sell and the value in use. The Company performs the analysis on a CGU level using a discounted cash flow method. Impairment losses recognized in respect of a CGU are first allocated to the carrying value of goodwill and any excess of impairment amount is allocated to the carrying amount of assets in the CGU. Any goodwill impairment loss is recognized in the consolidated statement of profits and losses in the period in which the impairment is identified. Impairment losses on goodwill are not subsequently reversed. Assets held for sale The accounting policy for assets held for sale applied in these consolidated financial statements is new in comparison to the audited consolidated financial statements of the Company as of and for the year ended December 31, 2019. The Company classifies assets held for sale in accordance with IFRS 5, “Non-Current Assets Held for Sale and Discontinued Operations.” When the Company makes the decision to sell an asset or to stop some part of its business, the Company assesses if such assets should be classified as an asset held for sale. To classify as an asset held for sale, the asset or disposal group must meet all of the following conditions: i) the asset is available for immediate sale in its present condition, ii) management is committed to a plan to sell, iii) an active program to locate a buyer and complete the plan has been initiated, iv) the asset is being actively marketed for sale at a sales price that is reasonable in relation to its fair value, v) the sale is highly probable within one year from the date of classification, and vi) actions required to complete the plan indicate that it is unlikely that the plan will be significantly changed or withdrawn. An asset held for sale is measured at the lower of its carrying amount or fair value less cost to sell (“FVLCTS”) unless the asset held for sale meets the exceptions as denoted by IFRS 5. FVLCTS is the amount obtainable from the sale of the asset in an arm’s length transaction, less the costs of disposal. Once classified as held for sale, any depreciation and amortization cease to be recorded (see Note 7). COVID-19 estimation uncertainty The novel coronavirus commonly referred to as “COVID-19” was identified in December 2019 in Wuhan, China. On January 30, 2020, the World Health Organization declared the outbreak a global health emergency, and on March 11, 2020, the spread of COVID-19 was declared a pandemic by the World Health Organization. On March 13, 2020, the spread of COVID-19 was declared a national emergency in the United States by former President Donald Trump. The outbreak has spread throughout the globe, causing companies and various international jurisdictions to impose restrictions such as quarantines, business closures, and travel restrictions. The duration of the business disruptions and related financial impact cannot reasonably be estimated at this time. In addition, it is possible that estimates in the Company’s financial statements will change in the near term as a result of COVID-19, and the effect of any such changes could be material, which could result in, among other things, impairment of long-lived assets, intangibles assets, and goodwill. The Company is closely monitoring the impact of the pandemic on all aspects of its business. See the heading "Risk Factors – General Business Risks – COVID-19 Pandemic" of the Company's management's discussion and analysis for the years ended December 31, 2020 and 2019 for more information.
New, amended and future IFRS pronouncements	New, amended and future IFRS pronouncements The following IFRS standards have been recently issued by the IASB. The Company is assessing the impact of these new standards on future consolidated financial statements. Pronouncements that are not applicable or where it has been determined do not have a significant impact to the Company have been excluded herein. Amendment to IFRS 3: Definition of a Business In October 2018, the IASB issued the IFRS 3 Amendment. The IFRS 3 Amendment clarifies the definition of a business, with the objective of assisting entities to determine whether a transaction should be accounted for as a business combination or as an asset acquisition. The IFRS 3 Amendment provides an assessment framework to determine when a series of integrated activities is not a business. The IFRS 3 Amendment is effective for business combinations occurring on or after the beginning of the first annual reporting period beginning on or after January 1, 2020, however early application is permitted. The Company had elected early application of the IFRS 3 Amendment effective January 1, 2019 and elected whether to apply, or not apply, the test to each transaction separately. The Company applies the IFRS 3 Amendment based on whether a single asset is a significant percentage of the total assets acquired. IAS 1 – Presentation of Financial Statements & IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors In October 2018, the IASB issued “Definition of Material” , an amendment to IAS 1 – Presentation of Financial Statements and IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors , to clarify the definition of materiality and to align the definition used in the Conceptual Framework and the standards themselves. The amendment clarifies that “information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity.” This amendment is effective for the annual period beginning January 1, 2020. The following is a brief summary of the new standards issued but not yet effective: Amendments to IAS 1: Classification of Liabilities as Current or Non-Current In January 2020, the IASB issued Classification of Liabilities as Current or Non-Current (“Amendments to IAS 1”). The Amendments to IAS 1 aim to promote consistency in applying the requirements by helping companies determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or potentially due to be settled within one year) or non-current. The Amendments to IAS 1 include clarifying the classification requirements for debt a company might settle by converting it into equity. The Amendments to IAS 1 are effective for annual reporting periods beginning on or after January 1, 2022, with earlier application permitted. Amendments to IAS 37: Onerous Contracts – Cost of Fulfilling a Contract In May 2020, the IASB issued Onerous Contracts – Cost of Fulfilling a Contract amending the standard regarding costs a company should include as the cost of fulfilling a contract when assessing whether a contract is onerous. The amendment is effective for annual reporting periods beginning on or after January 1, 2022.

Basis of presentation (Tables)

Basis of presentation (Tables)	12 Months Ended
	Dec. 31, 2020
Basis of presentation
Schedule of Direct and indirect subsidiaries ownership percentage	December 31, December 31, State of 2020 2019 Business name operations ownership % ownership % CLF AZ, Inc. AZ 100% 100% CLF NY, Inc. NY 100% 100% Curaleaf CA, Inc. CA 100% 100% Curaleaf KY, Inc. KY 100% 100% Curaleaf Massachusetts, Inc. MA 100% 100% Curaleaf MD, LLC MD 100% 100% Curaleaf OGT, Inc. OH 100% 100% Curaleaf PA, LLC PA 100% 100% Curaleaf, Inc. MA 100% 100% Focused Investment Partners, LLC MA 100% 100% CLF Maine, Inc. ME 100% 100% PalliaTech RI, LLC RI 100% 100% PalliaTech CT, Inc. CT 100% 100% PalliaTech OR, LLC (formerly Groen) OR 100% 100% PalliaTech Florida, Inc. FL 100% 100% PalliaTech Florida, LLC (Note 19) FL 100% 77.2% Curaleaf Florida, LLC FL 100% 70% CLF MD Processing, LLC MD 100% 100% PT Nevada, Inc. (Note 4) NV 100% 100% CLF Sapphire Holdings, Inc. (Note 4) OR 100% — Curaleaf NJ II, Inc. (Note 4) NJ 100% * Focused Employer, Inc. MA 100% * GR Companies, Inc. (Note 4) IL 100% — HMS Health LLC (Note 4) MD — — HMS Processing LLC (Note 4) MD — — HMS Sales LLC (Note 4) MD — — MI Health LLC (Note 4) MD — — Town Center Wellness, LLC (Note 4) MD — — Grassroots OpCo AR, LLC (Note 4) AR — — WCCC, LLC (Note 4) IL — — Compass Dispensary Holdings, LLC (Note 4) IL — — Greenhouse Group, LLC (Note 4) IL — — GR Vending MI, LLC (Note 4) IL — — GR Companies OK, LLC (Note 4) OK — — Remedy Compassion Center, Inc (Note 4) ME — — Primary Organic Therapy, Inc. (d/b/a Maine Organic Therapy) (Note 4) ME — — All significant intercompany balances and transactions were eliminated on consolidation. *Entity established in fiscal year 2020.
Schedule of estimated useful life property plant and equipment	Estimated useful life Information technology 5 years Furniture and fixtures 7 years Building and improvements 15 to 39 years Leasehold improvements Lesser of lease term or 7 to 10 years
Schedule of estimated useful life Intangible assets	Estimated useful life Licenses 10-20 years Trade names 5-15 years Non-compete agreements 1-2 years

Accounts receivable (Tables)

Accounts receivable (Tables)	12 Months Ended
	Dec. 31, 2020
Accounts receivable
Schedule of Accounts receivable	December 31, December 31, 2020 2019 Trade accounts receivable, net $ 30,919 $ 17,339 Other receivables 2,446 996 Transferred to assets held for sale (4,536) — Total trade and other receivables $ 28,830 $ 18,335

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2020
Acquisitions
Summary of acquisitions completed during the years	Year ended December 31, 2020 Purchase price allocation Cura (2) Remedy (2) Arrow (1) MEOT (2) Curaleaf NJ (2) Blue Kudu (1) Grassroots (2) ATG (2) Assets acquired: Cash $ 12,755 $ 172 $ 711 $ 395 $ 3,667 $ 276 $ 28,690 $ 7,253 Accounts receivable, net 11,027 15 — 129 1,995 350 5,511 — Prepaid expenses and other current assets 2,232 3 — 15 405 — 5,835 787 Inventory 22,074 227 508 1,418 4,962 123 12,101 3,455 Biological assets — 79 705 2,340 — 4,571 379 Property, plant and equipment, net 7,465 319 1,854 1,081 6,187 56 37,128 4,397 Right-of-use assets 9,047 108 2,058 1,812 41,518 812 103,055 1,555 Other assets 832 — — 1,034 46 — 91 — Intangible assets : Licenses 135,060 — 38,435 — 57,580 3,345 300,140 24,690 Trade name 28,340 160 — 170 8,260 — 12,130 120 Service agreements 59,030 1,430 — 5,830 — — 3,080 — Non-compete agreements 4,950 — — — — — 19,290 — Goodwill 113,252 909 — 561 22,863 — 257,023 19,072 Deferred tax liabilities (58,971) (480) — (1,680) (20,525) — (102,329) (9,397) Liabilities assumed (22,652) (573) (5,885) (3,426) (46,065) (1,469) (159,368) (9,811) Consideration transferred $ 324,441 $ 2,369 $ 37,681 $ 8,044 $ 83,233 $ 3,493 $ 526,948 $ 42,500 Year ended December 31, 2019 Purchase price allocation Acres (2) Glendale (1) Phyto (1) Emerald (1) Eureka (1) Blackjack (1) HMS (1) Elevate (1) Assets acquired: Cash $ 478 $ 330 $ 37 $ 747 $ 490 $ 120 $ 501 $ 101 Accounts receivable 884 92 — 188 82 — 1,052 — Prepaid expenses and other current assets 114 21 143 253 876 — 211 53 Inventory 3,812 422 103 724 587 333 414 93 Biological assets 567 — — — — — — Property, plant and equipment 5,994 1,407 — 103 357 — — 68 Other assets 45 107 — 15 — — — — Intangible assets : Licenses 22,340 17,060 7,424 15,970 35,253 7,187 32,775 1,937 Trade name 370 — — — — — — — Non-compete agreements 700 — — — — — — — Goodwill 17,471 — — — — — — — Deferred tax liabilities — — — — — — — — Liabilities assumed (5,178) (660) (38) — (1,284) (915) (2,654) (151) Non-controlling interest — — — — — (2,156) — — Consideration transferred $ 47,597 $ 18,779 $ 7,669 $ 18,000 $ 36,361 $ 4,569 $ 32,299 $ 2,101 (1) Acquisition accounted for as an asset acquisition with the application of the IFRS 3 Amendment. (2) Acquisition accounted for as a business combination under IFRS 3.

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2020
Inventories
Schedule of inventory	December 31, December 31, 2020 2019 Raw materials Harvested cannabis $ 5,036 $ 5,780 Harvested trim 8,450 2,890 Total raw materials 13,486 8,670 Work-in-process Processing 67,955 15,998 Finished goods Consumables 10,403 8,668 Flower 14,231 3,661 Extracts 31,269 14,663 Total finished goods 55,903 26,992 Fair value adjustment to inventory related to biological assets 63,828 11,550 Transferred to assets held for sale (3,181) — $ 197,991 $ 63,210

Biological assets (Tables)

Biological assets (Tables)	12 Months Ended
	Dec. 31, 2020
Biological assets
Schedule of reconciliation of the carrying amounts of the biological assets	Balance at December 31, 2018 $ 4,491 Assets obtained in the acquisition of HMS Companies 469 Assets obtained in the acquisition of Eureka 577 Assets obtained in the acquisition of Acres 567 Unrealized fair value gain on growth of biological assets 97,738 Increase in biological assets due to capitalized costs 20,661 Transferred to inventory upon harvest (105,306) Balance at December 31, 2019 $ 19,197 Assets obtained in the acquisition of Remedy 79 Assets obtained in the acquisition of Curaleaf NJ 2,340 Assets obtained in the acquisition of MEOT 705 Assets obtained in the acquisition of Grassroots 4,571 Assets obtained in the acquisition of ATG 379 Unrealized fair value gain on growth of biological assets 224,610 Increase in biological assets due to capitalized costs 109,850 Transferred to inventories upon harvest (314,114) Transferred to assets held for sale (1,407) Balance at December 31, 2020 $ 46,210

Assets and liabilities held f_2

Assets and liabilities held for sale (Tables)	12 Months Ended
	Dec. 31, 2020
Assets and liabilities held for sale
Schedule of assets and liabilities held for sale	Assets held for sale HMS Assets Elevate, Takoma GR Entities Total Balance at January 1, 2020 $ — $ — $ — $ — Transferred in 30,397 2,274 25,833 58,504 Total assets held for sale at December 31, 2020 $ 30,397 2,274 25,833 $ 58,504 Liabilities associated with assets held for sale HMS Assets Elevate, Takoma GR Entities Total Balance at January 1, 2020 $ — $ — $ — $ — Transferred in 3,145 797 3,239 7,181 Total liabilities associated with assets held for sale at December 31, 2020 $ 3,145 797 3,239 $ 7,181

Notes receivable (Tables)

Notes receivable (Tables)	12 Months Ended
	Dec. 31, 2020
Notes receivable
Summary of notes receivables	December 31, December 31, 2020 2019 Notes receivable Curaleaf NJ, Inc. (Note 4) $ — $ 56,437 Notes receivable Remedy Compassion Center, Inc. (Note 4) — 729 Notes receivable RJB Enterprises, LLC. 1,645 — Notes receivable Curaleaf Maryland, Inc. 3,000 — Total notes receivable $ 4,645 $ 57,166 Current portion of notes receivable 2,645 — Long term notes receivable 2,000 57,166 Total notes receivable $ 4,645 $ 57,166

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property, plant and equipment
Schedule of Property, plant and equipment and related accumulated depreciation	December 31, December 31, 2020 2019 Land $ 6,827 $ 487 Building and improvements 132,428 87,563 Furniture and fixtures 64,214 37,526 Information technology 2,756 1,858 Construction in progress 73,177 20,387 Total property and equipment 279,402 147,821 Less: Accumulated depreciation (36,547) (18,009) Property, plant and equipment, net $ 242,855 $ 129,812
Schedule of reconciliation of property, plant and equipment and accumulated depreciation	Construction Building and Furniture and Information in Land Improvements Fixtures Technology Progress Total Cost As of December 31, 2018 $ 210 $ 48,060 $ 13,486 $ 582 $ 10,119 $ 72,457 Additions 277 39,280 25,307 1,677 35,439 101,980 Business acquisitions — 5,365 2,050 2 512 7,929 Disposals — (26,348) (2,525) (840) (4,832) (34,545) Transfers — 21,206 (792) 437 (20,851) — As of December 31, 2019 $ 487 $ 87,563 $ 37,526 $ 1,858 $ 20,387 $ 147,821 Additions 10 45,659 17,934 646 62,024 126,273 Business acquisitions 6,384 25,828 12,225 823 13,227 58,487 Disposals — (27,620) (3,674) (498) (14,801) (46,593) Transfers (10) 5,537 1,653 (71) (7,109) — Transferred to Assets Held for Sale (44) (4,539) (1,450) (2) (551) (6,586) Balance as of December 31, 2020 $ 6,827 $ 132,428 $ 64,214 $ 2,756 $ 73,177 $ 279,402 Construction Building and Furniture and Information in Land Improvements Fixtures Technology Progress Total Accumulated depreciation As of December 31, 2018 $ — $ 3,521 $ 1,860 $ 107 $ — $ 5,488 Depreciation — 7,680 6,041 403 — 14,124 Disposals — (635) (24) — (944) (1,603) As of December 31, 2019 $ — $ 10,566 $ 7,877 $ 510 $ (944) $ 18,009 Depreciation — 8,624 10,854 1,006 — 20,484 Disposals — 618 (3,018) (230) 944 (1,686) Transferred to Assets Held for Sale — (77) (183) — — (260) Balance as of December 31, 2020 $ — $ 19,731 $ 15,530 $ 1,286 $ — $ 36,547

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and intangible assets
Schedule of identifiable intangible assets	2019 2020 Balance Purchase Transferred Balance at price Impairment to assets Year-to-date at December 31, Acquisitions adjustments Disposals Charge held for sale amortization December 31, Licenses $ 182,969 $ 559,250 $ (505) $ (1,095) $ (23,659) $ (19,690) $ (34,778) $ 662,492 Trade names 1,921 49,180 767 (29) — (600) (3,419) 47,820 Service agreements — 69,370 — — — — (5,775) 63,595 Non-compete agreements 745 24,240 (45) — — — (1,446) 23,494 Total intangible assets, net $ 185,635 $ 702,040 $ 217 $ (1,124) $ (23,659) $ (20,290) $ (45,418) $ 797,401
Schedule of changes in the carrying amount of goodwill	The changes in the carrying amount of goodwill for the cannabis operations segment were as follows: Total Balance at December 31, 2019 $ 69,326 Purchase price adjustments 76 Acquisition of Cura (Note 4) 113,252 Acquisition of Remedy (Note 4) 909 Acquisition of MEOT (Note 4) 561 Acquisition of Curaleaf NJ (Note 4) 22,863 Acquisition of Grassroots (Note 4) 257,023 Acquisition of ATG (Note 4) 19,072 Disposals (Note 8) (1,748) Transferred to assets held for sale (Note 7) (11,190) Balance at December 31, 2020 $ 470,144
Schedule of key assumptions used in calculating the recoverable amount for each CGU grouping tested for impairment	Key assumptions used in calculating the recoverable amount for each CGU grouping tested for impairment as of December 31, 2020 is outlined in the following table: Grassroots Select New Jersey Nevada Arizona Connecticut Florida Massachusetts CGU CGU CGU CGU CGU CGU CGU CGU Terminal Value Growth Rate Discount Rate Recoverable Amount $ 607,958 $ 367,590 $ 187,617 $ 76,931 $ 338,205 $ 118,630 $ 343,470 $ 165,376 Carrying Amount of Goodwill $ 245,833 $ 113,252 $ 22,863 $ 19,589 $ 15,547 $ 14,302 $ 13,410 $ 4,517

Notes payable (Tables)

Notes payable (Tables)	12 Months Ended
	Dec. 31, 2020
Notes payable
Schedule of notes payable	December 31, December 31, 2020 2019 Financing Agreement – 2021 Principal amount and interest accrued $ — $ 90,795 Unamortized debt discount — (5,773) Net carrying amount — 85,022 Financing Agreement – 2023 Principal amount 300,000 — Unamortized debt discount (25,126) — Net carrying amount 274,874 — Promissory Note – 2024 Principal amount 10,000 — Unamortized debt discount (300) — Net carrying amount 9,700 — Secured Promissory Notes – 2029 — 2,505 Seller note payable 6,500 17,000 Other notes payable 427 426 Total other notes payable $ 6,927 $ 17,426 Current portion of notes payable 6,500 17,000 Long term notes payable 285,001 87,953 Total notes payable $ 291,501 $ 104,953
Schedule of future principal payments	Period Amount 2021 6,500 2022 — 2023 300,000 2024 9,700 2025 and thereafter 427 $ 316,627

Share-based payment arrangeme_2

Share-based payment arrangements (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based payment arrangements
Schedule of weighted average inputs used in the measurement of the grant date fair values of the equity-settled share-based payment plans	December 31, 2020 2019 Fair value at grant date $ 5.03 $ 5.97 Share price at grant date $ 6.61 $ 7.67 Exercise price $ 6.57 $ 7.76 Expected volatility 93.2 % 87.2 % Expected life 6.3 years 6.9 years Expected dividends — % — % Risk-free interest rate (based on government bonds) 1.19 % 1.90 %
Schedule of number and weighted-average exercise prices of share options under the LTIP	Weighted Weighted Number of average Number of average options exercise price options exercise price 2020 2020 2019 2019 Outstanding at January 1 26,919,515 $ 1.90 31,269,448 $ 0.94 Forfeited during the year (684,911) 7.03 (178,086) 1.10 Exercised during the year (8,183,416) 0.43 (6,905,117) 0.31 Granted during the year 2,007,230 6.57 2,733,370 8.35 Rollover grants in connection with acquisition (Note 4) 5,257,209 9.98 — — Outstanding at December 31 25,315,627 $ 4.24 26,919,615 $ 1.59 Options exercisable at December 31 17,033,826 $ 3.68 17,453,214 $ 0.24
Schedule of number of RSUs awarded under the 2018 LTIP Plan	Number of RSUs 2020 2019 Outstanding at January 1 2,170,064 166,215 Forfeited during the year (217,600) — Released during the year (1,219,187) (166,215) Granted during the year 1,820,020 2,170,064 Outstanding at December 31 2,553,297 2,170,064 RSUs vested at December 31 105,593 —

Selling, general and administ_2

Selling, general and administrative expense (Tables)	12 Months Ended
	Dec. 31, 2020
Selling, general and administrative expense
Schedule of Selling, general and administrative expenses	Selling, general and administrative expenses consist of the following: Year ended December 31, 2020 2019 Selling, general and administrative expenses: Salaries and benefits $ 104,252 $ 52,737 Sales and marketing 23,272 12,188 Rent and occupancy 13,124 4,613 Travel 4,779 6,574 Professional fees 47,598 30,550 Office supplies and services 17,731 8,290 Other 16,518 6,070 Total selling, general and administrative expense $ 227,274 $ 121,022

Other expense (Tables)

Other expense (Tables)	12 Months Ended
	Dec. 31, 2020
Other expense
Schedule of other expense	Other expense consist of the following: Year ended December 31, 2020 2019 Gain (loss) on disposal of assets (Note 9) $ 3,288 $ (177) Restructuring charges — (2,323) Loss on termination of purchase agreement — (1,319) Impairment of intangible assets (Note 10) (23,659) — Gain on non-substantial debt modification (Note 11) 2,269 — Other income 1,419 562 Total other expense, net $ (16,683) $ (3,257)

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income taxes
Schedule of tax provision amounts recognized in the consolidated statements of profits and losses	Year ended December 31, 2020 2019 Current year $ 76,718 $ 14,977 Provision to return adjustment (888) 2,123 Current tax expense 75,830 17,100 Deferred tax expense 7,541 6,959 Provision for income taxes $ 83,371 $ 24,059
Schedule of reconciliation of federal statutory income tax rate to effective income tax rate	Year ended December 31, 2020 2019 Income (loss) before provision for income taxes $ 22,043 $ (45,789) Tax using the Company's domestic tax rate 3,307 15.0 % $ (6,868) 15.0 % Effect of tax rates in foreign jurisdictions 1,323 6.0 % (2,747) 6.0 % Tax effect of: State taxes, net of federal benefit 1,240 5.6 % 3,130 (6.8) % Share-based compensation 7,883 35.8 % 4,993 (10.9) % Non-taxable partnership income (395) (1.8) % (137) 0.3 % Non-deductible expenses 61,970 281.1 % 18,341 (40.1) % Other 3,139 14.2 % 1,290 (2.8) % Unrecognized deferred tax asset on current year losses 4,904 22.2 % 6,057 (13.2) % $ 83,371 378.2 % $ 24,059 (52.5) %
Summary of changes in the Company's deferred taxes	Acquired in Deferred Deferred Net balance Recognized in business tax tax at January 1 profit or loss combination Net asset liability As of December 31, 2020 Depreciation and amortization $ (8,004) $ (13,648) $ (193,382) $ (215,034) $ — $ (215,034) Accrued & prepaid expenses (7,681) 7,984 — 303 303 — Inventories (7,552) (18,633) — (26,185) — (26,185) Tax loss carryforward 3,223 16,756 — 19,979 19,979 — Tax asset (liability) before netting $ (20,014) $ (7,541) $ (193,382) $ (220,937) $ 20,282 $ (241,219) Balance sheet netting (14,754) 14,754 Net tax asset (liability) $ 5,528 $ (226,465) Acquired in Deferred Deferred Net balance Recognized in business tax tax at January 1 profit or loss combination Net asset liability As of December 31, 2019 Depreciation and amortization $ (5,163) $ 7,122 $ (9,963) $ (8,004) $ — $ (8,004) Accrued & prepaid expenses (455) (7,226) — (7,681) — (7,681) Share-based compensation 1,117 (1,117) — — — Inventories (890) (6,662) — (7,552) — (7,552) Tax loss carryforward 903 1,460 860 3,223 3,223 — Tax credit carryforward 536 (536) — — — — Tax asset (liability) before netting $ (3,952) $ (6,959) $ (9,103) $ (20,014) $ 3,223 $ (23,237) Balance sheet netting (595) 595 Net tax asset (liability) $ 2,628 $ (22,642)
Summary of deferred tax assets not been recognized	December 31, 2020 December 31, 2019 Gross amount Tax amount Gross amount Tax amount Deductible temporary differences $ 61,192 $ 17,948 $ 20,535 $ 5,798 Tax losses 146,387 40,727 65,345 17,447 $ 207,579 $ 58,675 $ 85,880 $ 23,245

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings per share
Summary of Basic and diluted loss per share	Three months ended Year ended December 31, December 31, 2020 2019 2020 2019 Numerator: Net loss $ (35,109) $ (27,152) $ (61,328) $ (69,848) Less: Net income (loss) attributable to redeemable non-controlling interest 165 (591) 407 (2,604) Net loss attributable to Curaleaf Holdings, Inc. — basic and diluted $ (35,274) $ (26,561) $ (61,735) $ (67,244) Denominator: Weighted average common shares outstanding — basic and diluted 660,398,593 468,445,941 557,192,899 462,911,053 Loss per share — basic and diluted $ (0.05) $ (0.06) $ (0.11) $ (0.15)
Schedule of anti-dilutive shares excluded from computation of diluted loss per share	Year ended December 31, 2020 2019 Options to purchase SVS 25,315,627 26,919,615

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting
Summary of operating segments	Cannabis Non-Cannabis Total For the year ended December 31, 2020: Revenues $ 586,219 $ 40,418 $ 626,637 Gross profit 350,095 40,418 390,513 Income (loss) from operations 122,196 (58,512) 63,684 Net income (loss) 23,572 (84,900) (61,328) Cannabis Non-Cannabis Total For the year ended December 31, 2019: Revenues $ 173,857 47,161 $ 221,018 Gross profit 94,452 47,161 141,613 Loss from operations (6,348) (21,369) (27,717) Net loss (19,649) (50,199) (69,848) Cannabis Non-Cannabis Held for sale Total As of December 31, 2020: Total assets $ 2,114,424 $ 211,631 $ 58,504 $ 2,384,559 Total liabilities 672,796 330,399 7,181 1,010,376 Cannabis Non-Cannabis Held for sale Total As of December 31, 2019: Total assets $ 465,169 $ 271,757 $ — $ 736,926 Total liabilities 93,785 239,695 — 333,480

Commitments and contingencies (

Commitments and contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and contingencies
Schedule of future minimum payments due under non-cancelable operating leases	At December 31, 2020, approximate future minimum payments due under non-cancelable operating leases were as follows: Period Scheduled payments 2021 $ 48,669 2022 48,755 2023 46,855 2024 and thereafter 426,972 Total undiscounted lease liability 571,251 Impact of discount (282,332) Lease liability at December 31, 2020 288,919 Less current portion of lease liability (15,710) Less long-term lease liabilities transferred to liabilities associated with assets held for sale (2,714) Long-term portion of lease liability $ 270,495
Schedule of movements relating to the right-of-use lease asset balances	Carrying amount, January 1, 2020 $ 82,794 ROU assets acquired (Note 4) 155,662 Additions to leased assets 53,527 Depreciation charges (22,553) Transferred to assets held for sale (2,262) Carrying amount, December 31, 2020 $ 267,168

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2020
Related party transactions
Schedule of transactions with related parties	Year ended Balances as of December 31, December 31, December 31, 2020 2019 2020 2019 Transaction Related party transactions Balance receivable (payable) Processing fees (1) $ 2,220 $ — $ — $ — Consulting fees (2) 1,225 319 — — Travel and reimbursement (2) 180 816 — — Rent expense, net (3) (208) 238 — — Contingent liability (4) — — — (18,000) Senior Unsecured Note - 2019 (5) — 237 — — Promissory Note - 2024 (6) 1,047 — (9,700) — Non-consolidated GR Companies (7) — — 5,947 — $ 4,464 $ 1,610 $ (3,753) $ (18,000) (1) For the year ended December 31, 2020, the Company recognized direct expenses of $2,220 for processing expenses with Sisu Extracts. Sisu Extracts, a state licensed processor in California, performed toll processing services for the Company during the reported periods. Cameron Forni, Select President, holds a passive investment in Sisu Extracts. Amounts recorded in connection with these expenses were recorded on a current cost basis at the time expenses were incurred. There are no ongoing contractual commitments related to these transactions. (2) For the year ended December 31, 2020, the Company recognized $1,000 of consulting expenses to Measure 8 Venture Partners, a company controlled by Boris Jordan, Executive Chairman, as well as $40 in travel and other business developement expenses. For the year ended December 31, 2020, the Company recognized consulting expenses of $74 and travel and business development expenses of $140 for work directly performed by Boris Jordan, Executive Chairman. For the year ended December 31, 2020, the Company recognized consulting expense of $151 for real estate management and advisory services to Frontline Real Estate Partners, LLC, a company controlled by Mitchell Kahn, a Board Member. Amounts recorded in connection with these expenses were recorded on a current cost basis at the time expenses were incurred. There are no ongoing contractual commitments related to these transactions. For the year ended December 31, 2019, the Company recognized travel and business development expenses of $34 as expense to Measure 8 Venture Partners. For the year ended December 31, 2019, the Company recognized consulting, travel and business development expenses related to the Company of $1,101 as payment to Sputnik Group LTD, a company controlled by Boris Jordan, Executive Chairman as of December 31, 2019. For the fiscal year 2020, the Sputnik Group LTD no longer meets the definition of a related party. Amounts recorded in connection with these expenses were recorded on a current cost basis at the time expenses were incurred. There are no ongoing contractual commitments related to these transactions. (3) For the years ended December 31, 2020 and 2019, the Company recognized a rent expense credit of $238 and rent expense of $238, respectively, for a sublease between Curaleaf NY LLC and Measure 8 Venture Partners LP, an entity controlled by Boris Jordan, Executive Chairman of the Company. For the year ended December 31, 2020, the Company recognized rent expense of $30 for a lease between GR Companies, Inc. and FREP Elm Place II, LLC, a company owned in part by Mitchell Kahn, a member of the Company’s board of directors. Both arrangements represent on-going contractual commitments based on executed leases. (4) As of December 31, 2019, the Company had a contingent consideration liability of $18,000 for the purchase of Curaleaf Massachusetts, Inc. payable upon the achievement of certain milestones. The liability was payable to Baldwin Holdings, LLC, of which Joseph F. Lusardi, the Company’s Executive Vice Chairman, has a direct equity interest. The contingent consideration liability was converted to a note payable in October 2020 (Note 11). See (6) below regarding details on this new related party arrangement. (5) For the year ended December 31, 2019, the Company recognized interest expense of $237 to Boris Jordan, Executive Chairman, and MedTech International Group, LLC, a company controlled by Boris Jordan, for interest on the Senior Unsecured Notes – 2019. The Company satisfied its full obligations under the Senior Unsecured Notes in December 2019, thus no interest expense is recognized in 2020. Amounts recorded in connection with these expenses were recorded on a current cost basis at the time expenses were incurred. There are no ongoing contractual commitments related to this transaction. (6) For the year ended December 31, 2020, the Company had an outstanding notes payable balance of $9,700 and recognized a related interest expense of $1,047 on the Promissory Note – 2024, which is held with Baldwin Holdings, LLC, in which Joseph F. Lusardi, the Company’s Executive Vice Chairman, has a direct equity interest. The Company entered into the Promissory Note – 2024 in October 2020 to replace the previously recorded contingent consideration liabilitilty (Note 11). Amounts recorded in connection with these expenses were recorded on a current cost basis at the time expenses were incurred. The liability contains certain repayment and interest components that represents on-going contractual commitments. (7) Through its acquisition of Grassroots, the Company acquired an option to purchase Maryland Compassionate Care and Well ness, LLC (“MCCW”) from its sole owner, KDW Maryland Holding Corporation (“KDW”), subject to regulatory approval. MCCW is the holder of cultivation, processing, and dispensary licenses in Maryland. The exercise price for the option is the cancellation of a secured promissory note issued by KDW to the Company in the principal amount of $32,000. MCCW is the sole owner of each of GR Vending MD Management, LLC and GR Vending MD, LLC. Mr. Kahn, a member of the Company’s board of directors, is a minority stockholder, the sole director and an officer of KDW.
Schedule of Key management personnel compensation	Year ended December 31, Key management personnel compensation 2020 2019 Short-term employee benefits $ 3,023 $ 1,997 Other long-term benefits 46 27 Share-based payments 17,093 12,493 $ 20,162 $ 14,517

Fair value measurements and f_2

Fair value measurements and financial risk management (Tables)	12 Months Ended
	Dec. 31, 2020
Fair value measurements and financial risk management
Schedule of fair value of assets and liabilities	Fair value measurements as of December 31, 2020 using: Level 1 Level 2 Level 3 Total Assets: Biological assets $ — $ — $ 46,210 $ 46,210 $ — $ — $ 46,210 $ 46,210 Liabilities: Non-controlling interest redemption and contingent consideration liabilities $ — $ — $ 4,592 $ 4,592 $ — $ — $ 4,592 $ 4,592 Fair value measurements as of December 31, 2019 using: Level 1 Level 2 Level 3 Total Assets: Biological assets $ — $ — $ 19,197 $ 19,197 $ — $ — $ 19,197 $ 19,197 Liabilities: Non-controlling interest redemption and contingent consideration liabilities $ — $ — $ 35,310 $ 35,310 $ — $ — $ 35,310 $ 35,310
Schedule of sensitivities and impact of changes in significant assumptions to the fair value of biological assets	Signifcant inputs & Assumptions Sensitivity Inputs ('000s) Sensitivity (+/-) Impact on Fair Value ('000s) December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Total expected grams yielded 9,776 3,466 (+/-) 10% grams yield $ 3,017 $ 1,244 Average cost per gram to complete production $ 1.78 $ 1.95 (+/-) $1.00 per gram $ 9,734 $ 3,469 Average selling price per gram, less cost $ 3.09 $ 3.59 (+/-) $1.00 per gram $ 9,713 $ 3,464
Schedule of aging of trade receivables	December 31, December 31, 2020 2019 0 to 90 days $ 25,180 $ 10,471 91 to 180 days 236 1,853 181 days + 967 5,015 Total accounts receivable, net $ 26,383 $ 17,339
Schedule of gross remaining contractual obligations	< 1 Year 1 to 3 Years Total For the year ended December 31, 2020: Accounts payable $ 47,043 $ — $ 47,043 Accrued expenses 57,475 — 57,475 Other current liabilities 6,568 — 6,568 Non-controlling interest redemption liability — 2,694 2,694 Contingent consideration liability — 1,898 1,898 $ 111,086 $ 4,592 $ 115,678 < 1 Year 1 to 3 Years Total For the year ended December 31, 2019: Accounts payable $ 12,742 $ — $ 12,742 Accrued expenses 18,016 — 18,016 Other current liabilities 31,549 — 31,549 Non-controlling interest redemption liability — 2,694 2,694 Contingent consideration liability — 32,616 32,616 $ 62,307 $ 35,310 $ 97,617

Basis of presentation - Basis o

Basis of presentation - Basis of consolidation (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
CLF AZ, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
CLF NY, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
Curaleaf CA, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
Curaleaf KY, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
Curaleaf Massachusetts, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
Curaleaf MD, LLC
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
Curaleaf OGT, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
Curaleaf PA, LLC
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
Curaleaf, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
Focused Investment Partners, LLC
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
CLF Maine, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
PalliaTech RI, LLC
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
PalliaTech CT, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
PalliaTech OR, LLC (formerly Groen)
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
PalliaTech Florida, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
PalliaTech Florida, LLC
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	77.20%
Curaleaf Florida, LLC
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	70.00%
CLF MD Processing, LLC
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
PT Nevada, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%	100.00%
CLF Sapphire Holdings, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%
Curaleaf NJ II, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%
Focused Employer, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%
GR Companies, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100.00%

Basis of presentation - Restric

Basis of presentation - Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Basis of presentation
Restricted cash and cash equivalents	$ 0	$ 500
Escrow amounts		$ 125

Basis of presentation - Propert

Basis of presentation - Property, plant and equipment (Details)	12 Months Ended
	Dec. 31, 2020
Information technology
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life of property plant equipment	5 years
Furniture and fixtures
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life of property plant equipment	7 years
Building and improvements | Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life of property plant equipment	15 years
Building and improvements | Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life of property plant equipment	39 years
Leasehold improvements | Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life of property plant equipment	7 years
Leasehold improvements | Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life of property plant equipment	10 years

Basis of presentation - Intangi

Basis of presentation - Intangible assets subject to amortization (Details)	12 Months Ended
	Dec. 31, 2020
Licenses | Minimum
Disclosure of detailed information about intangible assets [line items]
Estimated useful life of intangible assets other than goodwill	10 years
Licenses | Maximum
Disclosure of detailed information about intangible assets [line items]
Estimated useful life of intangible assets other than goodwill	20 years
Trade names | Minimum
Disclosure of detailed information about intangible assets [line items]
Estimated useful life of intangible assets other than goodwill	5 years
Trade names | Maximum
Disclosure of detailed information about intangible assets [line items]
Estimated useful life of intangible assets other than goodwill	15 years
Non-compete agreements | Minimum
Disclosure of detailed information about intangible assets [line items]
Estimated useful life of intangible assets other than goodwill	1 year
Non-compete agreements | Maximum
Disclosure of detailed information about intangible assets [line items]
Estimated useful life of intangible assets other than goodwill	2 years

Basis of presentation - Debt an

Basis of presentation - Debt and Leased assets (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Basis of presentation
Gain or loss is recognized at maturity or early conversion of the debt	$ 0
Remaining lease term	30 years

Accounts receivable (Details)

Accounts receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounts receivable
Trade accounts receivable, net	$ 30,919	$ 17,339
Other receivables	2,446	996
Transferred to assets held for sale	(4,536)
Total trade and other current receivables	28,830	18,335
Provision for expected credit losses	$ 494	$ 0

Acquisitions - Summary of busin

Acquisitions - Summary of business combinations (Details) $ in Thousands	Dec. 31, 2020USD ($)
Assets acquired:
Cash	$ 478
Accounts receivable, net	884
Prepaid expenses and other current assets	114
Inventory	3,812
Biological assets	567
Property, plant and equipment, net	5,994
Other assets	45
Intangible assets :
Goodwill	17,471
Liabilities assumed	5,178
Consideration transferred	47,597
Licenses
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	22,340
Trade names
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	370
Non-compete agreements
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	700
Cura Partners, Inc. - ("Cura" or "Select")
Assets acquired:
Cash	12,755
Accounts receivable, net	11,027
Prepaid expenses and other current assets	2,232
Inventory	22,074
Property, plant and equipment, net	7,465
Right-of-use assets	9,047
Other assets	832
Intangible assets :
Goodwill	113,252
Deferred tax liabilities	(58,971)
Liabilities assumed	(22,652)
Consideration transferred	324,441
Cura Partners, Inc. - ("Cura" or "Select") | Licenses
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	135,060
Cura Partners, Inc. - ("Cura" or "Select") | Trade names
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	28,340
Cura Partners, Inc. - ("Cura" or "Select") | Service agreements
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	59,030
Cura Partners, Inc. - ("Cura" or "Select") | Non-compete agreements
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	4,950
Remedy Compassion Center, Inc. - ("Remedy")
Assets acquired:
Cash	172
Accounts receivable, net	15
Prepaid expenses and other current assets	3
Inventory	227
Biological assets	79
Property, plant and equipment, net	319
Right-of-use assets	108
Intangible assets :
Goodwill	909
Deferred tax liabilities	(480)
Liabilities assumed	(573)
Consideration transferred	2,369
Remedy Compassion Center, Inc. - ("Remedy") | Trade names
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	160
Remedy Compassion Center, Inc. - ("Remedy") | Service agreements
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	1,430
Primary Organic Therapy, Inc. - ("MEOT")
Assets acquired:
Cash	395
Accounts receivable, net	129
Prepaid expenses and other current assets	15
Inventory	1,418
Biological assets	705
Property, plant and equipment, net	1,081
Right-of-use assets	1,812
Other assets	1,034
Intangible assets :
Goodwill	561
Deferred tax liabilities	(1,680)
Liabilities assumed	(3,426)
Consideration transferred	8,044
Primary Organic Therapy, Inc. - ("MEOT") | Trade names
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	170
Primary Organic Therapy, Inc. - ("MEOT") | Service agreements
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	5,830
Curaleaf NJ, Inc. ("CLNJ")
Assets acquired:
Cash	3,667
Accounts receivable, net	1,995
Prepaid expenses and other current assets	405
Inventory	4,962
Biological assets	2,340
Property, plant and equipment, net	6,187
Right-of-use assets	41,518
Other assets	46
Intangible assets :
Goodwill	22,863
Deferred tax liabilities	(20,525)
Liabilities assumed	(46,065)
Consideration transferred	83,233
Curaleaf NJ, Inc. ("CLNJ") | Licenses
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	57,580
Curaleaf NJ, Inc. ("CLNJ") | Trade names
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	8,260
GR Companies, Inc. - ("Grassroots")
Assets acquired:
Cash	28,690
Accounts receivable, net	5,511
Prepaid expenses and other current assets	5,835
Inventory	12,101
Biological assets	4,571
Property, plant and equipment, net	37,128
Right-of-use assets	103,055
Other assets	91
Intangible assets :
Goodwill	257,023
Deferred tax liabilities	(102,329)
Liabilities assumed	(159,368)
Consideration transferred	526,948
GR Companies, Inc. - ("Grassroots") | Licenses
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	300,140
GR Companies, Inc. - ("Grassroots") | Trade names
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	12,130
GR Companies, Inc. - ("Grassroots") | Service agreements
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	3,080
GR Companies, Inc. - ("Grassroots") | Non-compete agreements
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	19,290
Alternative Therapies Group, Inc. - ("ATG")
Assets acquired:
Cash	7,253
Prepaid expenses and other current assets	787
Inventory	3,455
Biological assets	379
Property, plant and equipment, net	4,397
Right-of-use assets	1,555
Intangible assets :
Goodwill	19,072
Deferred tax liabilities	(9,397)
Liabilities assumed	(9,811)
Consideration transferred	42,500
Alternative Therapies Group, Inc. - ("ATG") | Licenses
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	24,690
Alternative Therapies Group, Inc. - ("ATG") | Trade names
Intangible assets :
Identifiable intangible assets recognised as of acquisition date	$ 120

Acquisitions - Summary of acqui

Acquisitions - Summary of acquisitions (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Apr. 01, 2019	Dec. 31, 2018
Assets acquired:
Cash	$ 73,542	$ 42,310		$ 266,616
Accounts receivable, net	28,830	18,335
Prepaid expenses and other current assets	10,140	6,479
Inventory	197,991	63,210
Biological assets	46,210	19,197		$ 4,491
Property, plant and equipment, net	242,855	129,812
Right-of-use assets	267,168	82,794
Other assets	35,135	8,825
Intangible assets :
Intangible assets	797,401	185,635
Net deferred tax liability	(226,465)	(22,642)
Licenses
Intangible assets :
Intangible assets	662,492	182,969
Service agreements
Intangible assets :
Intangible assets	63,595
Non-compete agreements
Intangible assets :
Intangible assets	23,494	$ 745
Arrow
Assets acquired:
Cash	711
Inventory	508
Property, plant and equipment, net	1,854
Right-of-use assets	2,058
Intangible assets :
Liabilities assumed	(5,885)
Consideration transferred	37,681
Arrow | Licenses
Intangible assets :
Intangible assets	38,435
Blue Kudu
Assets acquired:
Cash	276
Accounts receivable, net	350
Inventory	123
Property, plant and equipment, net	56
Right-of-use assets	812
Intangible assets :
Liabilities assumed	(1,469)
Consideration transferred	3,493
Blue Kudu | Licenses
Intangible assets :
Intangible assets	3,345
Glendale
Assets acquired:
Cash	330
Accounts receivable, net	92
Prepaid expenses and other current assets	21
Inventory	422
Property, plant and equipment, net	1,407
Other assets	107
Intangible assets :
Liabilities assumed	(660)
Consideration transferred	18,779
Glendale | Licenses
Intangible assets :
Intangible assets	17,060
Phyto
Assets acquired:
Cash	37
Prepaid expenses and other current assets	143
Inventory	103
Intangible assets :
Liabilities assumed	(38)
Consideration transferred	7,669
Phyto | Licenses
Intangible assets :
Intangible assets	7,424
Emerald
Assets acquired:
Cash	747
Accounts receivable, net	188
Prepaid expenses and other current assets	253
Inventory	724
Property, plant and equipment, net	103
Other assets	15
Intangible assets :
Consideration transferred	18,000
Emerald | Licenses
Intangible assets :
Intangible assets	15,970
Eureka
Assets acquired:
Cash	490
Accounts receivable, net	82
Prepaid expenses and other current assets	876
Inventory	587
Property, plant and equipment, net	357
Intangible assets :
Liabilities assumed	(1,284)
Consideration transferred	36,361
Eureka | Licenses
Intangible assets :
Intangible assets	35,253
Blackjack
Assets acquired:
Cash	120
Inventory	333
Intangible assets :
Liabilities assumed	(915)
Non-controlling interest	(2,156)		$ (2,156)
Consideration transferred	4,569
Blackjack | Licenses
Intangible assets :
Intangible assets	7,187
HMS
Assets acquired:
Cash	501
Accounts receivable, net	1,052
Prepaid expenses and other current assets	211
Inventory	414
Intangible assets :
Liabilities assumed	(2,654)
Consideration transferred	32,299
HMS | Licenses
Intangible assets :
Intangible assets	32,775
Elevate
Assets acquired:
Cash	101
Prepaid expenses and other current assets	53
Inventory	93
Property, plant and equipment, net	68
Intangible assets :
Liabilities assumed	(151)
Consideration transferred	2,101
Elevate | Licenses
Intangible assets :
Intangible assets	$ 1,937

Acquisitions - 2020 business ac

Acquisitions - 2020 business acquisitions (Details)

Jun. 30, 2020shares

Feb. 01, 2020USD ($)itemshares

Jan. 10, 2020USD ($)

Jul. 31, 2020USD ($)shares

Feb. 29, 2020USD ($)

Jan. 31, 2020USD ($)

Oct. 31, 2019USD ($)

Aug. 31, 2018USD ($)ft²item

Dec. 31, 2020USD ($)

Nov. 30, 2020USD ($)

Aug. 17, 2020USD ($)

Apr. 30, 2020USD ($)

Jan. 18, 2020USD ($)

Dec. 31, 2019USD ($)

Dec. 31, 2018USD ($)

Disclosure of detailed information about business combination [line items]

Contingent consideration liability

$ 1,898,000

$ 32,616,000

Prepayment of acquisition consideration

132,234,000

Dispensaries located in Amesbury, Salisbury and Salem | Alternative Therapies Group, Inc. - ("ATG")

Disclosure of detailed information about business combination [line items]

Cash consideration

7,500,000

Cura Partners, Inc. - ("Cura" or "Select")

Disclosure of detailed information about business combination [line items]

Shares issued value

$ 251,911,000

Value of shares held in escrow

17,381,000

Contingent consideration liability

28,445,000

Roll over option consideration

$ 26,072,000

Number of shareholders elected cash in lieu of consideration | item

2

Cash paid

$ 631,000

Gain on change in contingent consideration

$ 28,445,000

Transaction cost

7,452,000

Pro forma revenue

91,483,000

Pro forma net income (loss)

(49,708,000)

Revenue

81,837,000

Net income (loss)

(34,276,000)

Cura Partners, Inc. - ("Cura" or "Select") | Revenue achieved exceeding $300,000

Disclosure of detailed information about business combination [line items]

Revenue target threshold

300,000,000

Contingent cash earnout

200,000,000

Cura Partners, Inc. - ("Cura" or "Select") | Minimum

Disclosure of detailed information about business combination [line items]

Revenue target threshold

130,000,000

Cura Partners, Inc. - ("Cura" or "Select") | Maximum

Disclosure of detailed information about business combination [line items]

Revenue target threshold

$ 250,000,000

Cura Partners, Inc. - ("Cura" or "Select") | SVS

Disclosure of detailed information about business combination [line items]

Number of shares issued

55,000,000,000

Contingent additional shares issued | shares

40,555,556

Number of Shares, Payout Criteria not met | shares

40,555,556

Remedy Compassion Center, Inc. - ("Remedy")

Disclosure of detailed information about business combination [line items]

Consideration paid

$ 2,369,000

Transaction cost

$ 28,000

Pro forma revenue

4,135,000

Pro forma net income (loss)

(596,000)

Revenue

3,164,000

Net income (loss)

(204,000)

Primary Organic Therapy, Inc. - ("MEOT")

Disclosure of detailed information about business combination [line items]

Cash paid

$ 8,000,000

Contingent cash earnout

2,000,000

Contingent cash consideration fair value

44,000

Transaction cost

32,000

Pro forma revenue

5,317,000

Pro forma net income (loss)

158,000

Revenue

2,728,000

Net income (loss)

574,000

Curaleaf NJ, Inc. ("CLNJ")

Disclosure of detailed information about business combination [line items]

Notes receivable applied to purchase consideration

83,233,000

Transaction cost

54,000

Pro forma revenue

65,178,000

Pro forma net income (loss)

6,080,000

Revenue

37,510,000

Net income (loss)

15,757,000

GR Companies, Inc. - ("Grassroots")

Disclosure of detailed information about business combination [line items]

Value of shares held in escrow

71,389,000

Acquisition related cost

51,187,000

Transaction cost

7,623,000

Prepayment of acquisition consideration

$ 132,234,000

132,234,000

Pro forma revenue

213,215,000

Pro forma net income (loss)

120,127,000

Revenue

125,177,000

Net income (loss)

(7,744,000)

GR Companies, Inc. - ("Grassroots") | SVS

Disclosure of detailed information about business combination [line items]

Number of shares issued

103,455,816

Shares issued value

$ 564,541,000

Shares held in escrow | shares

12,851,005

Shares issued partially | shares

2,119,864

Alternative Therapies Group, Inc. - ("ATG")

Disclosure of detailed information about business combination [line items]

Facility area acquired | ft²

53,600

Number of dispensaries | item

3

Cash paid

$ 7,500,000

$ 42,500,000

Consideration paid

$ 50,000,000

Transaction cost

$ 204,000

Pro forma revenue

18,385,000

Pro forma net income (loss)

14,179,000

Revenue

3,976,000

Net income (loss)

3,259,000

PalliaTech Florida, LLC

Disclosure of detailed information about business combination [line items]

Equity interest acquired

11.40%

11.40%

Consideration paid

$ 2,500,000

Net income (loss)

$ (4,468,000)

PalliaTech Florida, LLC | Secured Promissory Notes

Disclosure of detailed information about business combination [line items]

Repayment of secured promissory notes

$ 1,750,000

PalliaTech Florida, LLC | SVS

Disclosure of detailed information about business combination [line items]

Consideration paid

$ 2,375,000,000

Cash consideration

$ 1,772,062,000

Acres Cultivation, LLC - ("Acres")

Disclosure of detailed information about business combination [line items]

Shares issued value

$ 12,856,000

Contingent consideration liability

9,500,000

Cash paid

15,000,000

Gain on change in contingent consideration

$ 1,034,000

Consideration paid

47,597,000

Transaction cost

448,000

Acres Cultivation, LLC - ("Acres") | Dispensaries located in Amesbury, Salisbury and Salem

Disclosure of detailed information about business combination [line items]

Shares issued value

$ 8,569,000

Acres Cultivation, LLC - ("Acres") | SVS

Disclosure of detailed information about business combination [line items]

Number of shares issued

3,108,183

Acres Cultivation, LLC - ("Acres") | SVS | Dispensaries located in Amesbury, Salisbury and Salem

Disclosure of detailed information about business combination [line items]

Number of shares issued

2,039,062

Contingent consideration liability

$ 500,000

Acquisitions - 2020 assets acqu

Acquisitions - 2020 assets acquisitions (Details) $ in Thousands	1 Months Ended			12 Months Ended
	Aug. 31, 2020shares	Mar. 31, 2020USD ($)shares	Feb. 29, 2020USD ($)ft²shares	Dec. 31, 2020USD ($)
Arrow
Acquisitions
Consideration paid		$ 37,681
Cash consideration		16,298
Transaction cost		227
Pro forma revenue				$ 24,410
Pro forma net income (loss)				1,298
Revenue				18,638
Net income (loss)				(574)
Arrow | SVS
Acquisitions
Equity consideration		21,383
Arrow 1
Acquisitions
Consideration paid		10,412
Arrow 2
Acquisitions
Consideration paid		15,048
Arrow 2 | SVS
Acquisitions
Cash consideration		9,333
Arrow 3
Acquisitions
Consideration paid		$ 12,227
Number of shares issued | shares	27,334
Arrow 3 | SVS
Acquisitions
Number of shares issued | shares		1,861,149
Blue Kudu
Acquisitions
Interest acquired percentage			100.00%
Interest rate			5.00%
Transaction cost			$ 100
Pro forma revenue				3,126
Pro forma net income (loss)				458
Revenue				2,719
Net income (loss)				$ 155
Blue Kudu | SVS
Acquisitions
Number of shares issued | shares			322,580
Blue Kudu | 5% notes
Acquisitions
Cash consideration			$ 1,384
Equity consideration			$ 2,109
Borrowings term			10 months 15 days
Blue Kudu | 5% notes | Maximum
Acquisitions
Notes issued			$ 500
Blue Kudu | Blue Kudu
Acquisitions
Area of operation | ft²			8,400

Acquisitions - 2019 assets acqu

Acquisitions - 2019 assets acquisitions (Details) $ in Thousands

Jul. 01, 2019USD ($)

Apr. 01, 2019USD ($)

May 31, 2020USD ($)

Jan. 31, 2020USD ($)

Oct. 31, 2019shares

Aug. 31, 2019USD ($)loanshares

Jul. 31, 2019USD ($)

May 31, 2019USD ($)

Apr. 30, 2019USD ($)shares

Jan. 31, 2019USD ($)

Oct. 31, 2017USD ($)shares

Dec. 31, 2020USD ($)shares

HMS

Acquisitions

Consideration paid

$ 30,000

Additional adjustment

447

Additional consideration recorded

1,852

Transaction cost

199

HMS | SVS

Acquisitions

Additional adjustment

2,000

Elevate

Acquisitions

Cash consideration

2,101

Transaction cost

$ 40

Blackjack

Acquisitions

Interest acquired percentage

18.00%

51.20%

Ownership percentage

69.20%

Consideration paid

$ 3,001

Additional consideration recorded

308

Cash consideration

$ 1,260

Unowned membership interest recognised

30.80%

Non-controlling interest

$ 2,156

$ 2,156

Transaction cost

$ 122

Blackjack | Common shares

Acquisitions

Number of shares issued | shares

4,105,988

Blackjack | VSLV Management | SVS

Acquisitions

Number of shares issued | shares

286,246

Eureka

Acquisitions

Consideration paid

$ 36,361

Equity consideration

14,239

Cash consideration

5,608

Settlement of debt

$ 5,000

5,000

Gain on change in fair value of the contingent consideration

$ 9,572

Borrowings term

12 months

Transaction cost

$ 609

Eureka | SVS

Acquisitions

Number of shares issued | shares

1,663,511

Emerald

Acquisitions

Consideration paid

$ 18,000

Cash consideration

$ 3,000

$ 5,000

10,000

Transaction cost

$ 138

Phyto

Acquisitions

Consideration paid

$ 7,669

Cash consideration

$ 5,669

Interest rate

7.50%

Borrowings term

12 months

18 months

Transaction cost

$ 47

Phyto | 7.5% notes

Acquisitions

Notes issued

1,500

Phyto | SVS

Acquisitions

Cash consideration

65,511

Phyto | SVS | 7.5% notes

Acquisitions

Notes issued

$ 500

Glendale

Acquisitions

Consideration paid

$ 150,000

Cash consideration

$ 827,900

Number Of Promissory Notes | loan

2

Transaction cost

$ 78

Glendale | 7% Promissory note 1

Acquisitions

Notes issued

5,000

Glendale | 7% Promissory note 2

Acquisitions

Notes issued

$ 2,500

Interest rate

7.00%

Glendale | SVS

Acquisitions

Number of shares issued | shares

173,050

172,544

Glendale | SVS | 7% Promissory note 1

Acquisitions

Interest rate

7.00%

Acquisitions - 2019 business ac

Acquisitions - 2019 business acquisitions (Details) - USD ($)	1 Months Ended
	Jan. 31, 2020	Oct. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about business combination [line items]
Contingent consideration			$ 1,898,000	$ 32,616,000
Acres Cultivation, LLC - ("Acres")
Disclosure of detailed information about business combination [line items]
Consideration paid		$ 47,597,000
Cash paid		15,000,000
Contingent consideration		9,500,000
Shares issued value		12,856,000
Gain on change in fair value of the contingent consideration	$ 1,034,000
Transaction cost		448,000
Acres Cultivation, LLC - ("Acres") | Dispensaries located in Amesbury, Salisbury and Salem
Disclosure of detailed information about business combination [line items]
Shares issued value		$ 8,569,000
Acres Cultivation, LLC - ("Acres") | SVS
Disclosure of detailed information about business combination [line items]
Number of shares issued		3,108,183
Equity consideration number of shares		3,108,183
Acres Cultivation, LLC - ("Acres") | SVS | Dispensaries located in Amesbury, Salisbury and Salem
Disclosure of detailed information about business combination [line items]
Contingent consideration		$ 500,000
Number of shares issued		2,039,062
Equity consideration number of shares		2,039,062

Acquisitions - Pending acquisit

Acquisitions - Pending acquisitions (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Jul. 31, 2020	Dec. 31, 2019	May 31, 2019
Disclosure of detailed information about business combination [line items]
Contingent consideration		$ 1,898		$ 32,616
OGT
Disclosure of detailed information about business combination [line items]
Consideration paid					$ 20,000
Cash paid			$ 7,500		$ 5,000
EMMAC
Disclosure of detailed information about business combination [line items]
Consideration paid	$ 286,000
Cash paid	50,000
Contingent consideration	$ 57,000
EMMAC | SVS
Disclosure of detailed information about business combination [line items]
Equity consideration number of shares	16,797,963

Inventories - Schedule of inven

Inventories - Schedule of inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Raw materials
Harvested cannabis	$ 5,036	$ 5,780
Harvested trim	8,450	2,890
Total raw materials	13,486	8,670
Processing	67,955	15,998
Consumables	10,403	8,668
Flower	14,231	3,661
Extracts	31,269	14,663
Total finished goods	55,903	26,992
Fair value adjustment to inventory related to biological assets	63,828	11,550
Transferred to assets held for sale	(3,181)
Total	$ 197,991	$ 63,210

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Inventories
Cost of goods sold	$ 460,734	$ 177,143
Costs before the impact of biological assets adjustments	311,148	102,386
Realized fair value amounts included in inventory sold	$ (149,586)	$ (74,757)

Biological assets (Details)

Biological assets (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)g	Dec. 31, 2019USD ($)g
Disclosure of reconciliation of changes in biological assets [line items]
Balance	$ 19,197	$ 4,491
Unrealized fair value gain on growth of biological assets	224,610	97,738
Increase in biological assets due to capitalized costs	109,850	20,661
Transferred to inventory upon harvest	(314,114)	(105,306)
Transferred to assets held for sale	(1,407)
Balance	$ 46,210	$ 19,197
Biological assets yield on harvest (in gms) | g	16,905,180	7,031,057
HMS Health LLC ("HMS"), HMS Processing LLC, MI Health LLC, and HMS Sales LLC - (the "HMS Companies")
Disclosure of reconciliation of changes in biological assets [line items]
Assets obtained in the acquisition		$ 469
EC Investment Partners, LLC - ("Eureka")
Disclosure of reconciliation of changes in biological assets [line items]
Assets obtained in the acquisition		577
Acres Cultivation, LLC - ("Acres")
Disclosure of reconciliation of changes in biological assets [line items]
Assets obtained in the acquisition		$ 567
Remedy Compassion Center, Inc. - ("Remedy")
Disclosure of reconciliation of changes in biological assets [line items]
Assets obtained in the acquisition	$ 79
Curaleaf NJ, Inc. ("CLNJ")
Disclosure of reconciliation of changes in biological assets [line items]
Assets obtained in the acquisition	2,340
Primary Organic Therapy, Inc. - ("MEOT")
Disclosure of reconciliation of changes in biological assets [line items]
Assets obtained in the acquisition	705
GR Companies, Inc. - ("Grassroots")
Disclosure of reconciliation of changes in biological assets [line items]
Assets obtained in the acquisition	4,571
Alternative Therapies Group, Inc. - ("ATG")
Disclosure of reconciliation of changes in biological assets [line items]
Assets obtained in the acquisition	$ 379

Assets and liabilities held f_3

Assets and liabilities held for sale - Assets and liabilities held for sale (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Assets held for sale
Transferred in	$ 58,504
Total assets held for sale at December 31, 2020	58,504
Liabilities associated with assets held for sale
Transferred in	7,181
Total liabilities associated with assets held for sale at December 31, 2020	7,181
HMS Assets
Assets held for sale
Transferred in	30,397
Total assets held for sale at December 31, 2020	30,397
Liabilities associated with assets held for sale
Transferred in	3,145
Total liabilities associated with assets held for sale at December 31, 2020	3,145
Elevate, Takoma
Assets held for sale
Transferred in	2,274
Total assets held for sale at December 31, 2020	2,274
Liabilities associated with assets held for sale
Transferred in	797
Total liabilities associated with assets held for sale at December 31, 2020	797
GR Entities
Assets held for sale
Transferred in	25,833
Total assets held for sale at December 31, 2020	25,833
Liabilities associated with assets held for sale
Transferred in	3,239
Total liabilities associated with assets held for sale at December 31, 2020	$ 3,239

Assets and liabilities held f_4

Assets and liabilities held for sale (Details) $ in Thousands	1 Months Ended
	Nov. 30, 2020USD ($)ft²
HMS Assets
Assets and liabilities held for sale
Total consideration	$ 27,500
Area of divestiture of operations | ft²	22,000
Cash consideration	$ 25,000
Interest bearing Note due	2,500
Elevate, Takoma
Assets and liabilities held for sale
Total consideration	$ 2,000
Percentage of interest sold	100.00%

Notes receivable - Summary of n

Notes receivable - Summary of notes receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Nov. 30, 2020	Dec. 31, 2019	Jan. 31, 2019	Oct. 31, 2016
Disclosure of financial assets [line items]
Current portion of notes receivable	$ 2,645
Long term notes receivable	2,000		$ 57,166
Total notes receivable	4,645		57,166
Notes receivable Curaleaf NJ, Inc.
Disclosure of financial assets [line items]
Total notes receivable			56,437	$ 70,000
Notes receivable Remedy Compassion Center, Inc.
Disclosure of financial assets [line items]
Total notes receivable			$ 729		$ 500
Notes receivable RJB Enterprises, LLC.
Disclosure of financial assets [line items]
Total notes receivable	1,645
Notes receivable Curaleaf Maryland, Inc.
Disclosure of financial assets [line items]
Total notes receivable	$ 3,000	$ 3,000

Notes receivable - Remedy Compa

Notes receivable - Remedy Compassion Center, Inc (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2016	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial assets [line items]
Notes receivables		$ 4,645	$ 57,166
Notes receivable Remedy Compassion Center, Inc.
Disclosure of financial assets [line items]
Notes receivables	$ 500		729
Interest rate	12.00%
Interest income		$ 37	$ 82

Notes receivable - Curaleaf, NJ

Notes receivable - Curaleaf, NJ (Details) - USD ($) $ in Thousands	1 Months Ended			12 Months Ended
	Jul. 31, 2020	Jan. 31, 2019	Feb. 28, 2011	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial assets [line items]
Notes receivables				$ 4,645	$ 57,166
Curaleaf NJ, Inc. ("CLNJ")
Disclosure of financial assets [line items]
Notes receivables			$ 2,500
Notes receivables term			10 years
Interest rate			18.00%
Interest income				$ 6,336	$ 8,017
Percentage of revenue obtained to total revenue				3.00%	17.00%
Notes receivable applied to purchase consideration	$ 83,233
Notes receivable Curaleaf NJ, Inc.
Disclosure of financial assets [line items]
Notes receivables		$ 70,000			$ 56,437
Interest rate		18.00%
Notes receivable applied to purchase consideration	$ 83,233

Notes receivable - RJB Enterpri

Notes receivable - RJB Enterprises, LLC (Details) - Notes receivable RJB Enterprises, LLC. $ in Thousands	1 Months Ended
	Feb. 29, 2020USD ($)	Apr. 05, 2020$ / product
Disclosure of financial assets [line items]
Maximum borrowing amount against notes receivables | $	$ 7,000
Interest rate	1.57%
Incremental repayment per unit of licensed product sold | $ / product		10.75

Notes receivable - Curaleaf Mar

Notes receivable - Curaleaf Maryland, Inc (Details) - USD ($) $ in Thousands	1 Months Ended
	Nov. 30, 2020	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial assets [line items]
Notes receivables			$ 4,645	$ 57,166
Notes receivable Curaleaf Maryland, Inc.
Disclosure of financial assets [line items]
Notes receivables	$ 3,000		$ 3,000
Payment-in-Kind interest	13.00%
Principal balance repayment installment amount	$ 1,000
Divestiture of Curaleaf Maryland, Inc
Disclosure of financial assets [line items]
Percentage of ownership interest agreed to be sold		100.00%
Consideration	$ 4,000

Property, plant and equipment -

Property, plant and equipment - Property, plant and equipment and related accumulated depreciation (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 242,855	$ 129,812
Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	279,402	147,821	$ 72,457
Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(36,547)	(18,009)	(5,488)
Land
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	6,827	487
Land | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	6,827	487	210
Building and improvements
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	132,428	87,563
Building and improvements | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	132,428	87,563	48,060
Building and improvements | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(19,731)	(10,566)	(3,521)
Furniture and fixtures
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	64,214	37,526
Furniture and fixtures | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	64,214	37,526	13,486
Furniture and fixtures | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(15,530)	(7,877)	(1,860)
Information technology
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	2,756	1,858
Information technology | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	2,756	1,858	582
Information technology | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(1,286)	(510)	(107)
Construction in progress
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	73,177	20,387
Construction in progress | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 73,177	20,387	$ 10,119
Construction in progress | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment		$ 944

Property, plant and equipment_2

Property, plant and equipment (Details) $ in Thousands	Aug. 04, 2019USD ($)	Aug. 31, 2019USD ($)itemshares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Gain (loss) on sale			$ 3,288	$ (177)
Mt Dora, Florida cultivation and processing facility
Disclosure of detailed information about property, plant and equipment [line items]
Gain (loss) on sale	$ (557)
PSA
Disclosure of detailed information about property, plant and equipment [line items]
Gain (loss) on sale		$ 693
Freehold | PSA
Disclosure of detailed information about property, plant and equipment [line items]
Number of buildings sold | item		7
Term of lease		10 years
Proceeds from sale		$ 25,245
Shares received | shares		311,991
Shares received, value		$ 2,836
Building and improvements | Mt Dora, Florida cultivation and processing facility
Disclosure of detailed information about property, plant and equipment [line items]
Proceeds from sale	26,700
Construction in progress | Mt Dora, Florida cultivation and processing facility
Disclosure of detailed information about property, plant and equipment [line items]
Proceeds from sale	$ 14,800

Property, plant and equipment_3

Property, plant and equipment - Reconciliation of property, plant and equipment and accumulated depreciation - Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	$ 129,812
Depreciation	20,484	$ 14,124
Ending balance	242,855	129,812
Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	147,821	72,457
Additions	126,273	101,980
Business acquisitions	58,487	7,929
Disposals	(46,593)	(34,545)
Transferred to Assets Held for Sale	(6,586)
Ending balance	279,402	147,821
Land
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	487
Ending balance	6,827	487
Land | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	487	210
Additions	10	277
Business acquisitions	6,384
Transfers	(10)
Transferred to Assets Held for Sale	(44)
Ending balance	6,827	487
Building and improvements
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	87,563
Ending balance	132,428	87,563
Building and improvements | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	87,563	48,060
Additions	45,659	39,280
Business acquisitions	25,828	5,365
Disposals	(27,620)	(26,348)
Transfers	5,537	21,206
Transferred to Assets Held for Sale	(4,539)
Ending balance	132,428	87,563
Furniture and fixtures
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	37,526
Ending balance	64,214	37,526
Furniture and fixtures | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	37,526	13,486
Additions	17,934	25,307
Business acquisitions	12,225	2,050
Disposals	(3,674)	(2,525)
Transfers	1,653	(792)
Transferred to Assets Held for Sale	(1,450)
Ending balance	64,214	37,526
Information technology
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,858
Ending balance	2,756	1,858
Information technology | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,858	582
Additions	646	1,677
Business acquisitions	823	2
Disposals	(498)	(840)
Transfers	(71)	437
Transferred to Assets Held for Sale	(2)
Ending balance	2,756	1,858
Construction in progress
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	20,387
Ending balance	73,177	20,387
Construction in progress | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	20,387	10,119
Additions	62,024	35,439
Business acquisitions	13,227	512
Disposals	(14,801)	(4,832)
Transfers	(7,109)	(20,851)
Transferred to Assets Held for Sale	(551)
Ending balance	$ 73,177	$ 20,387

Property, plant and equipment_4

Property, plant and equipment - Reconciliation of property, plant and equipment and accumulated depreciation - Accumulated depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	$ 129,812
Depreciation	20,484	$ 14,124
Ending balance	242,855	129,812
Depreciation recognized in cost of goods sold	13,135	5,505
Depreciation recognized in operating expenses	7,349	8,619
Impairment loss	0	0
Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	147,821	72,457
Additions	126,273	101,980
Business acquisitions	58,487	7,929
Disposals	46,593	34,545
Transferred to Assets Held for Sale	6,586
Ending balance	279,402	147,821
Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(18,009)	(5,488)
Depreciation	20,484	14,124
Disposals	(1,686)	(1,603)
Transferred to Assets Held for Sale	(260)
Ending balance	(36,547)	(18,009)
Land
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	487
Ending balance	6,827	487
Land | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	487	210
Additions	10	277
Business acquisitions	6,384
Transfers	(10)
Transferred to Assets Held for Sale	44
Ending balance	6,827	487
Building and improvements
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	87,563
Ending balance	132,428	87,563
Building and improvements | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	87,563	48,060
Additions	45,659	39,280
Business acquisitions	25,828	5,365
Disposals	27,620	26,348
Transfers	5,537	21,206
Transferred to Assets Held for Sale	4,539
Ending balance	132,428	87,563
Building and improvements | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(10,566)	(3,521)
Depreciation	8,624	7,680
Disposals	(618)	(635)
Transferred to Assets Held for Sale	(77)
Ending balance	(19,731)	(10,566)
Furniture and fixtures
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	37,526
Ending balance	64,214	37,526
Furniture and fixtures | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	37,526	13,486
Additions	17,934	25,307
Business acquisitions	12,225	2,050
Disposals	3,674	2,525
Transfers	1,653	(792)
Transferred to Assets Held for Sale	1,450
Ending balance	64,214	37,526
Furniture and fixtures | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(7,877)	(1,860)
Depreciation	10,854	6,041
Disposals	(3,018)	(24)
Transferred to Assets Held for Sale	(183)
Ending balance	(15,530)	(7,877)
Information technology
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,858
Ending balance	2,756	1,858
Information technology | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,858	582
Additions	646	1,677
Business acquisitions	823	2
Disposals	498	840
Transfers	(71)	437
Transferred to Assets Held for Sale	2
Ending balance	2,756	1,858
Information technology | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(510)	(107)
Depreciation	1,006	403
Disposals	(230)
Ending balance	(1,286)	(510)
Construction in progress
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	20,387
Ending balance	73,177	20,387
Construction in progress | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	20,387	10,119
Additions	62,024	35,439
Business acquisitions	13,227	512
Disposals	14,801	4,832
Transfers	(7,109)	(20,851)
Transferred to Assets Held for Sale	551
Ending balance	73,177	20,387
Construction in progress | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	944
Disposals	$ 944	(944)
Ending balance		$ 944

Goodwill and intangible asset_2

Goodwill and intangible assets - Schedule of Identifiable intangible assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	$ 185,635
Acquisition	702,040
Purchase price adjustments	217
Disposals, intangible assets other than goodwill	(1,124)
Impairment loss recognised in profit or loss, intangible assets other than goodwill	(23,659)
Transferred to assets held for sale	(20,290)
Amortisation, intangible assets other than goodwill	(45,418)	$ (12,891)
Balance at end of period	797,401	185,635
Licenses
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	182,969
Acquisition	559,250
Purchase price adjustments	(505)
Disposals, intangible assets other than goodwill	(1,095)
Impairment loss recognised in profit or loss, intangible assets other than goodwill	(23,659)
Transferred to assets held for sale	(19,690)
Amortisation, intangible assets other than goodwill	(34,778)
Balance at end of period	662,492	182,969
Trade names
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	1,921
Acquisition	49,180
Purchase price adjustments	767
Disposals, intangible assets other than goodwill	(29)
Transferred to assets held for sale	(600)
Amortisation, intangible assets other than goodwill	(3,419)
Balance at end of period	47,820	1,921
Service agreements
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Acquisition	69,370
Amortisation, intangible assets other than goodwill	(5,775)
Balance at end of period	63,595
Non-compete agreements
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	745
Acquisition	24,240
Purchase price adjustments	(45)
Amortisation, intangible assets other than goodwill	(1,446)
Balance at end of period	$ 23,494	$ 745

Goodwill and intangible asset_3

Goodwill and intangible assets - Schedule of changes in the carrying amount of goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Disclosure of reconciliation of changes in goodwill [line items]
Balance at beginning of period	$ 69,326
Purchase price adjustments	(76)
Disposals	(1,748)
Transferred to assets held for sale	(11,190)
Balance at end of period	470,144
Cura Partners, Inc. - ("Cura" or "Select")
Disclosure of reconciliation of changes in goodwill [line items]
Acquisition	113,252
Remedy Compassion Center, Inc. - ("Remedy")
Disclosure of reconciliation of changes in goodwill [line items]
Acquisition	909
Primary Organic Therapy, Inc. - ("MEOT")
Disclosure of reconciliation of changes in goodwill [line items]
Acquisition	561
Curaleaf NJ, Inc. ("CLNJ")
Disclosure of reconciliation of changes in goodwill [line items]
Acquisition	22,863
GR Companies, Inc. - ("Grassroots")
Disclosure of reconciliation of changes in goodwill [line items]
Acquisition	257,023
Alternative Therapies Group, Inc. - ("ATG")
Disclosure of reconciliation of changes in goodwill [line items]
Acquisition	$ 19,072

Goodwill and intangible asset_4

Goodwill and intangible assets - Key assumptions used in calculating the recoverable amount (Details) - USD ($) $ in Thousands	12 Months Ended	24 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Disclosure of reconciliation of changes in goodwill [line items]
Discount Rate	19.00%	19.00%
Goodwill	$ 470,144	$ 470,144	$ 69,326
Impairment of goodwill		$ 0
Grassroots CGU
Disclosure of reconciliation of changes in goodwill [line items]
Terminal Value Growth Rate	3.00%	3.00%
Discount Rate	14.00%	14.00%
Recoverable Amount	$ 607,958	$ 607,958
Goodwill	245,833	$ 245,833
Impairment of goodwill	$ 0
Basis points of increase in discount rate	1.50%
Select CGU
Disclosure of reconciliation of changes in goodwill [line items]
Terminal Value Growth Rate	3.00%	3.00%
Discount Rate	13.00%	13.00%
Recoverable Amount	$ 367,590	$ 367,590
Goodwill	113,252	$ 113,252
Impairment of goodwill	$ 0
Basis points of increase in discount rate	2.00%
New Jersey CGU
Disclosure of reconciliation of changes in goodwill [line items]
Terminal Value Growth Rate	3.00%	3.00%
Discount Rate	19.00%	19.00%
Recoverable Amount	$ 187,617	$ 187,617
Goodwill	22,863	$ 22,863
Impairment of goodwill	$ 0
Nevada CGU
Disclosure of reconciliation of changes in goodwill [line items]
Terminal Value Growth Rate	3.00%	3.00%
Discount Rate	15.00%	15.00%
Recoverable Amount	$ 76,931	$ 76,931
Goodwill	19,589	$ 19,589
Impairment of goodwill	$ 0
Arizona CGU
Disclosure of reconciliation of changes in goodwill [line items]
Terminal Value Growth Rate	3.00%	3.00%
Discount Rate	19.00%	19.00%
Recoverable Amount	$ 338,205	$ 338,205
Goodwill	15,547	$ 15,547
Impairment of goodwill	$ 0
Connecticut CGU
Disclosure of reconciliation of changes in goodwill [line items]
Terminal Value Growth Rate	3.00%	3.00%
Discount Rate	18.00%	18.00%
Recoverable Amount	$ 118,630	$ 118,630
Goodwill	14,302	$ 14,302
Impairment of goodwill	$ 0
Florida CGU
Disclosure of reconciliation of changes in goodwill [line items]
Terminal Value Growth Rate	3.00%	3.00%
Discount Rate	18.00%	18.00%
Recoverable Amount	$ 343,470	$ 343,470
Goodwill	13,410	$ 13,410
Impairment of goodwill	$ 0
Massachusetts CGU
Disclosure of reconciliation of changes in goodwill [line items]
Terminal Value Growth Rate	3.00%	3.00%
Discount Rate	19.00%	19.00%
Recoverable Amount	$ 165,376	$ 165,376
Goodwill	4,517	$ 4,517
Impairment of goodwill	$ 0

Goodwill and intangible asset_5

Goodwill and intangible assets (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Goodwill and intangible assets
Impairment loss on intangible assets	$ 23,659
Discount Rate	19.00%
Licenses
Goodwill and intangible assets
Impairment loss on intangible assets	$ 23,659

Notes payable - Schedule of not

Notes payable - Schedule of notes payable (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Oct. 31, 2020	Jan. 31, 2020	Dec. 31, 2019	Aug. 31, 2018	Jan. 31, 2017
Disclosure of detailed information about borrowings [line items]
Principal amount	$ 316,627
Net carrying amount	291,501			$ 104,953
Current portion of notes payable	6,500			17,000
Long term notes payable	285,001			87,953
Financing Agreement - 2021
Disclosure of detailed information about borrowings [line items]
Principal amount and interest accrued				90,795
Principal amount					$ 85,000
Unamortized debt discount				(5,773)
Net carrying amount				85,022
Financing Agreement - 2023
Disclosure of detailed information about borrowings [line items]
Principal amount	300,000		$ 300,000
Unamortized debt discount	(25,126)
Net carrying amount	274,874
Promissory Note - 2024
Disclosure of detailed information about borrowings [line items]
Principal amount	10,000	$ 10,000
Unamortized debt discount	(300)	$ (300)
Net carrying amount	9,700
Secured Promissory Notes - 2029
Disclosure of detailed information about borrowings [line items]
Principal amount						$ 2,505
Net carrying amount				2,505
Total other notes payable
Disclosure of detailed information about borrowings [line items]
Net carrying amount	6,927			17,426
Seller note payable
Disclosure of detailed information about borrowings [line items]
Net carrying amount	6,500			17,000
Other notes payable
Disclosure of detailed information about borrowings [line items]
Net carrying amount	$ 427			$ 426

Notes payable - Financing Agree

Notes payable - Financing Agreement 2021 (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [line items]
Principal amount		$ 316,627
Borrowings		291,501	$ 104,953
Financing Agreement - 2021
Disclosure of detailed information about borrowings [line items]
Principal amount	$ 85,000
Payments of debt issuance cost	$ 1,700
Interest rate	15.00%
Cash interest rate	10.00%
Paid in kind interest rate	5.00%
Threshold prepayment tranche upon ninety days notice	$ 25,000
Threshold prepayment tranche upon 180 days notice	$ 50,000
Threshold principal amount subject to prepayment premium		25,000
Warrants to purchase common stock	3,598,492
Borrowings			85,022
Equity component	$ 7,444
Interest expense		0	15,682
Amortization of debt discount		$ 0	$ 2,250
Early repayment fees	9,920
Financing Agreement - 2021 | Fair value
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 77,556

Notes payable - Financing Agr_2

Notes payable - Financing Agreement 2023 (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2020	Dec. 31, 2020
Disclosure of detailed information about borrowings [line items]
Principal amount		$ 316,627
Financing Agreement - 2023
Disclosure of detailed information about borrowings [line items]
Principal amount	$ 300,000	300,000
Interest rate	13.00%
Gain (loss) on extinguishment of debt	$ 2,269
Number of days before repayment date	3 days
Maximum term of instruments	3 months
Multiplier percentage	0.50%
Interest expense		44,786
Amortization of debt discount		$ 6,184
Financing Agreement - 2023 | Interest rate for quarter ended December 31, 2020 | Minimum
Disclosure of detailed information about borrowings [line items]
Percentage of prepayment premium	0.00%
Financing Agreement - 2023 | Interest rate for quarter ended December 31, 2020 | Maximum
Disclosure of detailed information about borrowings [line items]
Percentage of prepayment premium	3.00%
Financing Agreement - 2023 | Interest rate for all quarters in 2021 | Minimum
Disclosure of detailed information about borrowings [line items]
Percentage of prepayment premium	0.00%
Financing Agreement - 2023 | Interest rate for all quarters in 2021 | Maximum
Disclosure of detailed information about borrowings [line items]
Percentage of prepayment premium	6.00%
Financing Agreement - 2023 | Interest rate for all quarters in 2022 | Minimum
Disclosure of detailed information about borrowings [line items]
Percentage of prepayment premium	0.00%
Financing Agreement - 2023 | Interest rate for all quarters in 2022 | Maximum
Disclosure of detailed information about borrowings [line items]
Percentage of prepayment premium	8.00%
Financing Agreement - 2023 | Interest rate for quarters in 2023 through September 30, 2023 | Minimum
Disclosure of detailed information about borrowings [line items]
Percentage of prepayment premium	0.00%
Financing Agreement - 2023 | Interest rate for quarters in 2023 through September 30, 2023 | Maximum
Disclosure of detailed information about borrowings [line items]
Percentage of prepayment premium	9.00%
Financing Agreement - 2023 | Debt prepayment between January 10, 2022 and January 9, 2023
Disclosure of detailed information about borrowings [line items]
Percentage of prepayment premium	6.50%
Financing Agreement - 2023 | Debt prepayment between January 10, 2023 and October 14, 2023
Disclosure of detailed information about borrowings [line items]
Percentage of prepayment premium	3.25%

Notes payable - Promissory Note

Notes payable - Promissory Note 2024 (Details) - USD ($) $ in Thousands	1 Months Ended
	Oct. 31, 2020	Dec. 31, 2020
Disclosure of detailed information about borrowings [line items]
Principal amount		$ 316,627
Promissory Note - 2024
Disclosure of detailed information about borrowings [line items]
Principal amount	$ 10,000	10,000
Issue price as a percentage of principal amount	97.00%
Unamortized debt discount	$ 300	$ 300
Interest rate	3.25%
Interest expense	$ 1,047

Notes payable - Secured Promiss

Notes payable - Secured Promissory Note 2029 (Details) $ in Thousands	1 Months Ended		12 Months Ended
	Aug. 31, 2020USD ($)	Jan. 31, 2017USD ($)payment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of detailed information about borrowings [line items]
Principal amount			$ 316,627
Repayment of debt			2,920	$ 3,995
Secured Promissory Notes - 2029
Disclosure of detailed information about borrowings [line items]
Principal amount		$ 2,505
Number of installments for repayment | payment		2
Repayment of debt	$ 1,253	$ 1,252
Accrued interest paid	$ 1,766	$ 1,651
Interest expense			$ 115	$ 300
Secured Promissory Notes - 2029 | Interest rate for first $224 principal amount
Disclosure of detailed information about borrowings [line items]
Interest rate		12.00%
Secured Promissory Notes - 2029 | Interest rate for remaining balance
Disclosure of detailed information about borrowings [line items]
Interest rate		14.00%

Notes payable - Seller note (De

Notes payable - Seller note (Details) - USD ($) $ in Thousands	1 Months Ended			12 Months Ended
	May 31, 2020	Feb. 29, 2020	Jan. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Aug. 31, 2019	Jul. 31, 2019	May 31, 2019
Disclosure of detailed information about borrowings [line items]
Principal amount				$ 316,627
Repayment of debt				$ 2,920	$ 3,995
Seller note payable | Emerald
Disclosure of detailed information about borrowings [line items]
Principal amount								$ 8,000
Repayment of debt	$ 3,000		$ 5,000
Seller note payable | Glendale
Disclosure of detailed information about borrowings [line items]
Principal amount						$ 7,500
Repayment of debt		$ 2,500
Seller note payable | Phyto
Disclosure of detailed information about borrowings [line items]
Principal amount							$ 1,500

Notes payable - Future principa

Notes payable - Future principal payments (Details) $ in Thousands	Dec. 31, 2020USD ($)
Disclosure of detailed information about borrowings [line items]
Principal amount	$ 316,627
2021
Disclosure of detailed information about borrowings [line items]
Principal amount	6,500
2023
Disclosure of detailed information about borrowings [line items]
Principal amount	300,000
2024
Disclosure of detailed information about borrowings [line items]
Principal amount	9,700
2025 and thereafter
Disclosure of detailed information about borrowings [line items]
Principal amount	$ 427

Shareholders' equity (Details)

Shareholders' equity (Details) $ / shares in Units, $ in Thousands	Jul. 20, 2020shares	May 31, 2020shares	Apr. 30, 2020shares	Dec. 31, 2020Voteshares	Dec. 31, 2019USD ($)$ / sharesshares
Shareholders' equity
Treasury shares Repurchased (in shares)				0	147,900
Treasury shares price per share | $ / shares					$ 5.97
Treasury shares Repurchased, Value | $					$ 883
Jordon
Shareholders' equity
Minimum percentage of voting interest held on issued and outstanding shares				50.00%
Number of MVS shares converted		10,000,000	10,000,000
MVS
Shareholders' equity
Number of votes per share | Vote				15
Issued shares (as a percent)				14.20%	22.10%
Outstanding shares (as a percent)				71.20%	81.00%
Number of shares issued				93,970,705
Number of shares outstanding				93,970,705
MVS | Jordon
Shareholders' equity
Number of MVS shares converted					18,200,000
SVS
Shareholders' equity
Number of votes per share | Vote				1
Stock split ratio				1
Number of shares issued				569,831,140
Number of shares outstanding				569,831,140
Shares reserved for future issuance				66,380,185	52,237,230
SVS | Jordon
Shareholders' equity
Number of MVS shares converted					18,200,000
SVS | Private Placement
Shareholders' equity
Number of shares issued on conversion	4,383,698
SVS | Private Placement | Tranche one
Shareholders' equity
Number of shares issued on conversion	3,541,429
SVS | Private Placement | Tranche two
Shareholders' equity
Number of shares issued on conversion	842,269

Share-based payment arrangeme_3

Share-based payment arrangements - Stock option programs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based payment arrangements
Aggregate number of SVS and MVS outstanding (as a percent)	10.00%
Share-based compensation	$ 30,879	$ 16,607
Fair value of select rollover options	$ 8,493

Share-based payment arrangeme_4

Share-based payment arrangements - Stock option valuation (Details) - 2018 LTIP - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based payment arrangements
Fair value at grant date	$ 5.03	$ 5.97
Share price at grant date	6.61	7.67
Exercise price	$ 6.57	$ 7.76
Expected volatility (as a percent)	93.20%	87.20%
Expected life	6 years 3 months 18 days	6 years 10 months 24 days
Risk-free interest rate (based on government bonds)	1.19%	1.90%

Share-based payment arrangeme_5

Share-based payment arrangements - Reconciliation of outstanding share options (Details) - Employee Stock - 2018 LTIP	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019$ / sharesUSD ($)
Share-based payment arrangements
Outstanding at Beginning of period (in shares) | $	26,919,615	31,269,448
Outstanding at Beginning of period (in shares) | $		26,919,515
Forfeited during the year (in shares) | $	(684,911)	(178,086)
Exercised during the year (in shares) | $	(8,183,416)	(6,905,117)
Granted during the year (in shares) | $	2,007,230	2,733,370
Rollover grants in connection with acquisition (Note 4) (in shares) | shares	5,257,209
Outstanding at end of period (in shares) | $	25,315,627	26,919,615
Options exercisable at end of period (in shares) | $	17,033,826	17,453,214
Outstanding at Beginning of period (in dollars per share)	$ 1.59	$ 0.94
Outstanding at Beginning of period (in dollars per share)		1.90
Forfeited during the year (in dollars per share)	(7.03)	$ (1.10)
Exercised during the year (in dollars per share)	(0.43)	(0.31)
Granted during the year (in dollars per share)	6.57	8.35
Rollover grants in connection with acquisition (Note 4) (in dollars per share)	9.98
Outstanding at end of period (in dollars per share)	4.24	1.59
Options exercisable at end of period (in dollars per share)	$ 3.68	$ 0.24

Share-based payment arrangeme_6

Share-based payment arrangements - Restricted stock units ("RSUs") (Details) - RSUs - 2018 LTIP	12 Months Ended
	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)shares
Share-based payment arrangements
Outstanding at Beginning of period (in shares)	2,170,064	166,215
Forfeited during the year (in shares)	(217,600)
Released during the year (in shares) | shares	(1,219,187)	(166,215)
Granted during the year (in shares)	1,820,020	2,170,064
Outstanding at end of period (in shares)	2,553,297	2,170,064
RSUs vested at end of period (in shares)	105,593

Selling, general and administ_3

Selling, general and administrative expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Selling, general and administrative expense
Salaries and benefits	$ 104,252	$ 52,737
Sales and marketing	23,272	12,188
Rent and occupancy	13,124	4,613
Travel	4,779	6,574
Professional fees	47,598	30,550
Office supplies and services	17,731	8,290
Other	16,518	6,070
Total selling, general and administrative expense	$ 227,274	$ 121,022

Other expense (Details)

Other expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Other expense
Gain (loss) on disposal of assets (Note 9)	$ 3,288	$ (177)
Restructuring charges		(2,323)
Loss on termination of purchase agreement		(1,319)
Impairment loss recognised in profit or loss, intangible assets other than goodwill	(23,659)
Gain on non-substantial debt modification (Note 11)	2,269
Other income	1,419	562
Total other expense, net	$ (16,683)	$ (3,257)

Income taxes - Statements of pr

Income taxes - Statements of profits and losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income taxes
Current year	$ 76,718	$ 14,977
Provision to return adjustment	(888)	2,123
Current tax expense	75,830	17,100
Deferred tax expense	7,541	6,959
Total tax expense (income)	$ 83,371	$ 24,059

Income taxes - Effective income

Income taxes - Effective income tax rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Income (loss) before provision for income taxes	$ 22,043	$ (45,789)
Tax using the Company's domestic tax rate	3,307	(6,868)
Effect of tax rates in foreign jurisdictions	1,323	(2,747)
State taxes, net of federal benefit	1,240	3,130
Share-based compensation	7,883	4,993
Non-taxable partnership income	(395)	(137)
Non-deductible expenses	61,970	18,341
Other	3,139	1,290
Unrecognized deferred tax asset on current year losses	4,904	6,057
Total tax expense (income)	$ 83,371	$ 24,059
Reconciliation of average effective tax rate and applicable tax rate [abstract]
Tax using the Company's domestic tax rate	15.00%	15.00%
Effect of tax rates in foreign jurisdictions	6.00%	6.00%
State taxes, net of federal benefit	5.60%	(6.80%)
Share-based compensation	35.80%	(10.90%)
Non-taxable partnership income	(1.80%)	0.30%
Non-deductible expenses	281.10%	(40.10%)
Other	14.20%	(2.80%)
Unrecognized deferred tax asset on current year losses	22.20%	(13.20%)
Total average effective tax rate	378.20%	(52.50%)

Income taxes - Changes in defer

Income taxes - Changes in deferred taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of changes in deferred tax liability (asset) [abstract]
Recognized in profit or loss	$ 7,541	$ 6,959
Deferred tax asset	5,528	2,628
Balance sheet netting	(14,754)	(595)
Net deferred tax assets	5,528	2,628
Balance sheet netting	14,754	595
Net deferred tax liability	(226,465)	(22,642)
Depreciation and amortization
Reconciliation of changes in deferred tax liability (asset) [abstract]
Net balance at beginning of period	(8,004)	(5,163)
Recognized in profit or loss	(13,648)	7,122
Acquired in business combination	(193,382)	(9,963)
Net balance at end of period	(215,034)	(8,004)
Deferred tax liability	(215,034)	(8,004)
Accrued & prepaid expenses
Reconciliation of changes in deferred tax liability (asset) [abstract]
Net balance at beginning of period	(7,681)	(455)
Recognized in profit or loss	7,984	(7,226)
Net balance at end of period	303	(7,681)
Deferred tax asset	303
Deferred tax liability		(7,681)
Share-based compensation
Reconciliation of changes in deferred tax liability (asset) [abstract]
Net balance at beginning of period		1,117
Recognized in profit or loss		(1,117)
Inventories
Reconciliation of changes in deferred tax liability (asset) [abstract]
Net balance at beginning of period	(7,552)	(890)
Recognized in profit or loss	(18,633)	(6,662)
Net balance at end of period	(26,185)	(7,552)
Deferred tax liability	(26,185)	(7,552)
Tax loss carryforward
Reconciliation of changes in deferred tax liability (asset) [abstract]
Net balance at beginning of period	3,223	903
Recognized in profit or loss	16,756	1,460
Acquired in business combination		860
Net balance at end of period	19,979	3,223
Deferred tax asset	19,979	3,223
Tax credit carryforward
Reconciliation of changes in deferred tax liability (asset) [abstract]
Net balance at beginning of period		536
Recognized in profit or loss		(536)
Tax asset (liability) before netting
Reconciliation of changes in deferred tax liability (asset) [abstract]
Net balance at beginning of period	(20,014)	(3,952)
Recognized in profit or loss	(7,541)	(6,959)
Acquired in business combination	(193,382)	(9,103)
Net balance at end of period	(220,937)	(20,014)
Deferred tax asset	20,282	3,223
Deferred tax liability	$ (241,219)	$ (23,237)

Income taxes - Deferred tax ass

Income taxes - Deferred tax assets not recognized (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Gross amount	$ 207,579	$ 85,880
Tax amount	58,675	23,245
Tax loss carryforwards subject to expiration	357,492	84,913
Tax loss carryforwards not subject to expiration	132,003	70,753
Unrecognized tax benefits	2,900
Accrued interest and penalties on uncertain tax positions	800
Deductible temporary differences
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Gross amount	61,192	20,535
Tax amount	17,948	5,798
Tax loss carryforward
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Gross amount	146,387	65,345
Tax amount	$ 40,727	$ 17,447

Earnings per share - Summary of

Earnings per share - Summary of Basic and diluted loss per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net loss	$ (35,109)	$ (27,152)	$ (61,328)	$ (69,848)
Less: Net income (loss) attributable to non-controlling interest	165	(591)	407	(2,604)
Net loss attributable to Curaleaf Holdings, Inc.	$ (35,274)	$ (26,561)	$ (61,735)	$ (67,244)
Denominator:
Weighted average common shares outstanding - basic and diluted	660,398,593	468,445,941	557,192,899	462,911,053
Loss per share - basic and diluted	$ (0.05)	$ (0.06)	$ (0.11)	$ (0.15)

Earnings per share - Schedule o

Earnings per share - Schedule of anti-dilutive shares excluded from computation of diluted loss per share (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Earnings per share [line items]
Shares held in escrow	0	688,349
Options to purchase SVS
Earnings per share [line items]
Anti-dilutive shares excluded from computation of diluted loss per share	25,315,627	26,919,615

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)segment	Dec. 31, 2019USD ($)
Disclosure of operating segments [line items]
Number of operating segments | segment			2
Revenue			$ 626,637	$ 221,018
Gross profit			390,513	141,613
Income (loss) from operations			63,684	(27,717)
Net income (loss)	$ (35,109)	$ (27,152)	(61,328)	(69,848)
Total assets			2,384,559	736,926
Total liabilities			1,010,376	333,480
Held for sale
Disclosure of operating segments [line items]
Total assets			58,504
Total liabilities			7,181
Cannabis
Disclosure of operating segments [line items]
Revenue			586,219	173,857
Gross profit			350,095	94,452
Income (loss) from operations			122,196	(6,348)
Net income (loss)			23,572	(19,649)
Total assets			2,114,424	465,169
Total liabilities			672,796	93,785
Non-Cannabis
Disclosure of operating segments [line items]
Revenue			40,418	47,161
Gross profit			40,418	47,161
Income (loss) from operations			(58,512)	(21,369)
Net income (loss)			(84,900)	(50,199)
Total assets			211,631	271,757
Total liabilities			$ 330,399	$ 239,695

Commitments and contingencies -

Commitments and contingencies - Future minimum payments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of contingent liabilities [line items]
Total undiscounted lease liability	$ 571,251
Impact of discount	(282,332)
Lease liability at December 31, 2020	288,919
Current portion of lease liability	(15,710)	$ (11,835)
Less long-term lease liabilities transferred to liabilities associated with assets held for sale	(2,714)
Long-term portion of lease liability	270,495	$ 81,319
2021
Disclosure of contingent liabilities [line items]
Total undiscounted lease liability	48,669
2022
Disclosure of contingent liabilities [line items]
Total undiscounted lease liability	48,755
2023
Disclosure of contingent liabilities [line items]
Total undiscounted lease liability	46,855
2024 and thereafter
Disclosure of contingent liabilities [line items]
Total undiscounted lease liability	$ 426,972

Commitments and contingencies_2

Commitments and contingencies - Right-of-use lease asset balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Commitments and contingencies
Carrying amount, January 1, 2020	$ 82,794
ROU assets acquired (Note 4)	155,662
Additions to leased assets	53,527
Depreciation charges	(22,553)	$ (10,270)
Transferred to assets held for sale	2,262
Carrying amount, December 31, 2020	$ 267,168	$ 82,794

Commitments and contingencies_3

Commitments and contingencies - Right-of-use lease asset balances - Additional (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Commitments and contingencies
Interest expense related to lease liabilities	$ 18,962	$ 6,357
Depreciation expense on right-of-use assets	22,553	10,270
Depreciation on right of use assets included in cost of goods sold	6,644	0
Cash outflow for leases	$ 26,762	$ 11,073

Commitments and contingencies_4

Commitments and contingencies (Details) - USD ($) $ in Thousands	Jan. 10, 2020	Dec. 12, 2019	Oct. 25, 2018	Jun. 30, 2020	Dec. 31, 2020
Disclosure of contingent liabilities [line items]
Renewal term of leases					5 years
Unrecognized tax benefits					$ 2,900
Accrued interest and penalties on uncertain tax positions					$ 800
Minimum
Disclosure of contingent liabilities [line items]
Term of real estate leases					1 year
Maximum
Disclosure of contingent liabilities [line items]
Term of real estate leases					10 years
Connecticut Arbitration
Disclosure of contingent liabilities [line items]
Cash payments to purchase holder's interest			$ 40,142
Number of SVS issued			4,755,548
Number of additional SVS received by the holders		2,016,859
Florida Litigation | JRF Group
Disclosure of contingent liabilities [line items]
Cash payments to purchase holder's interest	$ 2,500
Number of SVS issued	1,772,062
Florida Litigation | SRC Medical Partners, LLC
Disclosure of contingent liabilities [line items]
Cash payments to purchase holder's interest				$ 0
Number of SVS issued				2,375,000
Damages awarded				$ 0
Cash agreed to be paid for retirement of principal and interest of debt				$ 1,750

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jul. 31, 2020
Disclosure of transactions between related parties [line items]
Total	$ 4,464	$ 1,610
Contingent liability		(18,000)
Total	(3,753)	(18,000)
Prepaid acquisition consideration	132,234
Baldwin Holdings, LLC
Disclosure of transactions between related parties [line items]
Contingent liability		(18,000)
GR Companies, Inc. - ("Grassroots")
Disclosure of transactions between related parties [line items]
Balance receivable (payable)	5,947
Prepaid acquisition consideration	132,234		$ 132,234
Senior Unsecured Note - 2019
Disclosure of transactions between related parties [line items]
Related party transactions, Interest expense		237
Senior Unsecured Note - 2019 | Boris Jordan, Executive Chairman
Disclosure of transactions between related parties [line items]
Related party transactions, Interest expense		237
Senior Unsecured Note - 2019 | MedTech International Group, LLC
Disclosure of transactions between related parties [line items]
Related party transactions, Interest expense		237
Promissory Note - 2024
Disclosure of transactions between related parties [line items]
Related party transactions, Interest expense	1,047
Balance receivable (payable)	(9,700)
Cancellation of a principal amount of debt	32,000
Processing fees
Disclosure of transactions between related parties [line items]
Related party transactions	2,220
Processing fees | Sisu Extracts
Disclosure of transactions between related parties [line items]
Related party transactions	2,220
Consulting fees
Disclosure of transactions between related parties [line items]
Related party transactions	1,225	319
Consulting fees | Measure 8 Venture Partners
Disclosure of transactions between related parties [line items]
Related party transactions	1,000
Consulting fees | Frontline Real Estate Partners, LLC
Disclosure of transactions between related parties [line items]
Related party transactions	151
Travel and reimbursement
Disclosure of transactions between related parties [line items]
Related party transactions	180	816
Travel and reimbursement | Boris Jordan, Executive Chairman
Disclosure of transactions between related parties [line items]
Related party transactions	140
Consulting, travel and business development | Measure 8 Venture Partners
Disclosure of transactions between related parties [line items]
Related party transactions	40	34
Consulting, travel and business development | Boris Jordan, Executive Chairman
Disclosure of transactions between related parties [line items]
Related party transactions	74
Rent expense, net
Disclosure of transactions between related parties [line items]
Related party transactions	(208)	238
Rent expense, net | Measure 8 Venture Partners
Disclosure of transactions between related parties [line items]
Related party transactions	238	238
Rent expense, net | Sputnik Group LTD
Disclosure of transactions between related parties [line items]
Related party transactions		$ 1,101
Rent expense, net | FREP Elm Place II, LLC
Disclosure of transactions between related parties [line items]
Related party transactions	$ 30

Related party transactions - Ke

Related party transactions - Key management personal compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Related party transactions
Short-term employee benefits	$ 3,023	$ 1,997
Other long-term benefits	46	27
Share-based payments	17,093	12,493
Total	$ 20,162	$ 14,517

Fair value measurements and f_3

Fair value measurements and financial risk management (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair value measurements and financial risk management
Transfer of assets out of level 1 into level 2	$ 0	$ 0
Transfer of assets out of level 2 into level 1	0	0
Transfer of assets into level 3	0	0
Transfer of assets out of level 3	0	0
Transfer of liabilities out of level 1 into level 2	0	0
Transfer of liabilities out of level 2 into level 1	0	0
Transfer of liabilities into level 3	0	0
Transfer of liabilities out of level 3	$ 0	$ 0

Fair value measurements and f_4

Fair value measurements and financial risk management - Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of fair value measurement of assets [line items]
Assets	$ 2,386,591	$ 736,926
Liabilities	1,010,377	333,480
Non recurring fair value
Disclosure of fair value measurement of assets [line items]
Assets	46,210	19,197
Liabilities	4,592	35,310
Non recurring fair value | Non-controlling interest redemption and contingent consideration liabilities
Disclosure of fair value measurement of assets [line items]
Liabilities	4,592	35,310
Non recurring fair value | Biological assets
Disclosure of fair value measurement of assets [line items]
Assets	46,210	19,197
Non recurring fair value | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	46,210	19,197
Liabilities	4,592	35,310
Non recurring fair value | Level 3 | Non-controlling interest redemption and contingent consideration liabilities
Disclosure of fair value measurement of assets [line items]
Liabilities	4,592	35,310
Non recurring fair value | Level 3 | Biological assets
Disclosure of fair value measurement of assets [line items]
Assets	$ 46,210	$ 19,197

Fair value measurements and f_5

Fair value measurements and financial risk management - Biological assets (Details) - Biological assets g in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)g$ / g	Dec. 31, 2019USD ($)g$ / g
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Harvested Cannabis plants ascribed completed (percentage)	50.00%
Harvested Cannabis plants completed (percentage)	57.00%	49.00%
Expected grams yielded
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity inputs, volume | g	9,776	3,466
Sensitivity (percentage) increase	10.00%	10.00%
Sensitivity (percentage) decrease	(10.00%)	(10.00%)
Impact on Fair Value, Increase decrease | $	$ 3,017	$ 1,244
Average cost per gram to complete production
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity Inputs	1.78	1.95
Sensitivity (per grams) increase	1	1
Sensitivity (per grams) decrease	(1)	(1)
Impact on Fair Value, Increase decrease | $	$ 9,734	$ 3,469
Average selling price per gram, less cost
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Sensitivity Inputs	3.09	3.59
Sensitivity (per grams) increase	1	1
Sensitivity (per grams) decrease	(1)	(1)
Impact on Fair Value, Increase decrease | $	$ 9,713	$ 3,464

Fair value measurements and f_6

Fair value measurements and financial risk management - Non-controlling interest contingency and buyout (Details) $ in Thousands	1 Months Ended		12 Months Ended
	Aug. 31, 2020USD ($)EquityInstruments	Jan. 31, 2020USD ($)EquityInstruments	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020USD ($)	Feb. 29, 2020shares	Oct. 31, 2018USD ($)EquityInstrumentsshares
Disclosure of subsidiaries [line items]
Non-controlling interest buyout liability			$ 2,694		$ 2,694
MHC
Disclosure of subsidiaries [line items]
Ownership percentage by third parties			15.90%
PT Florida
Disclosure of subsidiaries [line items]
Ownership percentage			77.20%
Ownership percentage by third parties			22.80%
Ownership interest acquired	11.40%	11.40%
Cash Consideration	$ 0	$ 2,500
PT Florida | Promissory note 2029
Disclosure of subsidiaries [line items]
Cash paid for retirement of existing debt	$ 1,766	$ 1,651
PT Florida | SVS
Disclosure of subsidiaries [line items]
Number of shares issued | EquityInstruments	2,375,000	1,772,062
Value of share issued	$ 19,996	$ 12,272
MHC
Disclosure of subsidiaries [line items]
Acquisition's consideration				$ 25,000
Non-controlling interest acquired				12,000
Floor amount				$ 12,000
Ceiling amount, percentage				75.00%
Ceiling amount in excess of fair market value				$ 40,000
Ownership percentage by third parties				30.00%
DRH
Disclosure of subsidiaries [line items]
Acquisition's consideration				$ 40,142
Ownership interest acquired							49.00%
Cash Consideration							$ 40,142
Maximum share allowed to be issued | shares						2,016,858
DRH | SVS
Disclosure of subsidiaries [line items]
Number of shares issued | EquityInstruments							4,755,548
Value of share issued							$ 41,747
Shares issued as percentage of maximum diluted shares							1.96%
Maximum share allowed to be issued | shares							8,962,380

Fair value measurements and f_7

Fair value measurements and financial risk management - Aging of trade receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of provision matrix [line items]
Provision for expected credit losses	$ 494	$ 0
Total accounts receivable, net	26,383	17,339
0 to 90 days
Disclosure of provision matrix [line items]
Total accounts receivable, net	25,180	10,471
91 to 180 days
Disclosure of provision matrix [line items]
Total accounts receivable, net	236	1,853
181 days +
Disclosure of provision matrix [line items]
Total accounts receivable, net	$ 967	$ 5,015

Fair value measurements and f_8

Fair value measurements and financial risk management - Gross remaining contractual obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Accounts payable	$ 47,043	$ 12,742
Accrued expenses	57,475	18,016
Other current liabilities	6,568	31,549
Non-controlling interest redemption liability	2,694	2,694
Contingent consideration liability	1,898	32,616
Liquidity risk
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Accounts payable	47,043	12,742
Accrued expenses	57,475	18,016
Other current liabilities	6,568	31,549
Non-controlling interest redemption liability	2,694	2,694
Contingent consideration liability	1,898	32,616
Gross remaining contractual obligations	115,678	97,617
Liquidity risk | 2021
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Accounts payable	47,043	12,742
Accrued expenses	57,475	18,016
Other current liabilities	6,568	31,549
Gross remaining contractual obligations	111,086	62,307
Liquidity risk | 1 to 3 Years
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Non-controlling interest redemption liability	2,694	2,694
Contingent consideration liability	1,898	32,616
Gross remaining contractual obligations	$ 4,592	$ 35,310

Subsequent events (Details)

Subsequent events (Details) $ / shares in Units, $ in Thousands, $ in Thousands	Jan. 12, 2021CAD ($)$ / sharesshares	Jan. 12, 2021USD ($)shares	Jan. 31, 2021USD ($)D	Dec. 31, 2020USD ($)
Disclosure of non-adjusting events after reporting period [line items]
Secured credit facility				$ 316,627
New credit facility
Disclosure of non-adjusting events after reporting period [line items]
Yield maintenance premium rate threshold Days | D			3
Yield maintenance premium rate			0.50%
New credit facility | Secured credit facility
Disclosure of non-adjusting events after reporting period [line items]
Secured credit facility			$ 50,000
Interest rate			10.25%
New credit facility | Secured credit facility | Prepayment made between January 8, 2022 and January 7, 2023
Disclosure of non-adjusting events after reporting period [line items]
Prepayment premium rate			5.125%
New credit facility | Secured credit facility | Prepayment made between January 8, 2023 and January 7, 2024
Disclosure of non-adjusting events after reporting period [line items]
Prepayment premium rate			2.50%
New shares offering | Overnight marketed offering
Disclosure of non-adjusting events after reporting period [line items]
Gross proceeds	$ 316,883
Net proceeds		$ 240,569
New shares offering | Overnight marketed offering | SVS
Disclosure of non-adjusting events after reporting period [line items]
Shares issued | shares	18,975,000	18,975,000
Share price | $ / shares	$ 16.70

Uncategorized Items - curl-2020

Label	Element	Value
Nature Ii Llc Asset Acquisition [Member] | Vslv Management [Member]
Asset Acquisition, Percentage of Interests Acquired	curlf_AssetAcquisitionPercentageOfInterestsAcquired	64.00%
Proportion of ownership interest in subsidiary	ifrs-full_ProportionOfOwnershipInterestInSubsidiary	98.00%
Nature Ii Llc Asset Acquisition [Member] | Vslv Management [Member] | Vslv Management [Member]
Proportion of ownership interest in subsidiary	ifrs-full_ProportionOfOwnershipInterestInSubsidiary	80.00%