Curaleaf Holdings (OTCMKTS: CURLF), a cannabis company that has recently begun public trading, has announced plans to initiate a $50 million buyback for the upcoming year.

Curaleaf currently operates 34 dispensaries, 12 cultivation sites, and 10 processing facilities across 10 states.

The company announced that beginning Dec. 12, 2018 and ending Dec. 12, 2019, the buyback will be enacted as market conditions and variables allow. The full buyback will only reduce the company’s share count by about 2%. However, the effort is in direct opposition to what other cannabis companies do, namely taking actions that result in dilution and value loss for shareholders.

Curaleaf currently operates 34 dispensaries, 12 cultivation sites, and 10 processing facilities across 10 states. Meanwhile, the company plans to operate significantly in New Jersey if and when that state’s proposed legalization becomes a reality. The company managed to accrue $400 million in capital before opting to go public, which has had a strong influence on the reach and presence Curaleaf holds in the U.S. cannabis market.

Curaleaf released an earnings report Nov. 27, 2018, which revealed revenue that has tripled. However, the company’s losses are still currently at $33.7 million, which averages to $2.86 a share. The loss is up roughly $500,000, as it was at 4 cents per share one year earlier. The current operation rate is due to a one-time, $25 million charge that occurred as Curaleaf completed an acquisition during the year.

Curaleaf’s report included data that showed retail and wholesale revenue grew at a rate of 500%, totalling $16.6 million. The company expects to have around 40 shops open at the end of 2018, which means positive results for the already growing revenue sectors. Revenue as a whole is up 289% from the same quarter one year ago.

Curaleaf is considered one of the most competitive companies in the cannabis market currently. Their niche in the market is so strong that Curaleaf, MedMen, Green Thumb Industries, Trulieve Cannabis Corp., and Charlotte’s Web Holdings, Inc., among others, are challenging Canadian cannabis companies in the competition to lead the market. This occurs despite the fact that marijuana is legal countrywide in Canada, while federal prohibition is still in place for the U.S.