PORTLAND, Ore. (KOIN) — A Portland-based cannabis company sold Wednesday for $1 billion. 

Massachusetts-based cannabis giant Curaleaf purchased the marijuana startup, Cura Cannabis, known for its cannabis oil sold through retailers under the name “Select Oils.” 

Cura Cannabis said the completion of the deal shows that marijuana companies along the East and West coasts are merging to expand their reach across the United States. 

Company leaders told KOIN 6 News Cura Cannabis will continue operating in Portland.