Increases the number of U.S. states Trulieve operates in to four
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TORONTO, May 16, 2019 /CNW/ - Trulieve Cannabis Corp. ("Trulieve" or the "Company") (CSE: TRUL) today announced that the Company has entered into an agreement dated May 16, 2019, to acquire 100 percent of The Healing Corner, Inc. (the "Healing Corner"), a medical marijuana dispensary located in Bristol, Connecticut.
"Expanding and diversifying beyond our Florida base is key to our strategic vision. This further growth in the New England region is an important step as we move forward with establishing Trulieve as a national presence in the cannabis sector," said Kim Rivers, CEO of Trulieve. "We look forward to providing patients across the Connecticut medical marijuana market with the exceptional customer service and best-in-class products that Trulieve is known for."
The Healing Corner was founded in 2014 and provides a range of medical marijuana products from their dispensary in Bristol, Connecticut. Patients may also reserve their medical marijuana order through The Healing Corner's Canna-Fill online system.
"The Healing Corner and Trulieve share the same passion and commitment to patients' care and providing them with a truly professional full-service customer experience," said Geri Ann Bradley, Owner and Pharmacist at The Healing Corner. "This alignment of values and strength of offering will certainly benefit medical cannabis patients in Connecticut."
Completion of the proposed acquisition is subject to a number of conditions including, but not limited to, receipt of regulatory approvals. There can be no assurance that the acquisition will be completed as proposed or at all. Canaccord Genuity Corp. acted as agent in connection with a brokered private placement of debt securities of the Company to assist in the financing of the acquisition.
About The Healing Corner
The Healing Corner is located at the corner of three Connecticut counties, Hartford, New Haven, and Litchfield, providing convenient patient access. Pharmacist operated, The Healing Corner takes pride in providing patients with one-on-one consultations on product selection, dosage, and route of administration. The Healing Corner's dedicated team is passionate about delivering new and effective ways to bring relief and comfort to its patients. The Healing Corner's priority is to educate and empower its patients to gain control of their lives and ﬁnd healing and happiness.
Trulieve is a vertically integrated "seed to sale" company and is the first and largest fully licensed medical cannabis company in the State of Florida. Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve branded stores (dispensaries) throughout the State of Florida, as well as directly to patients via home delivery. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL.
This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered or sold within the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
To learn more about Trulieve, visit www.Trulieve.com.
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company, including the acquisition of the Healing Corner. Such statements include statements regarding the completion of the proposed acquisition and the plans for the assets of being acquired. Words such as "expects", "continue", "will", "anticipates" and "intends" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the Company's current projections and expectations about future events and financial trends that management believes might affect its financial condition, results of operations, business strategy and financial needs, and on certain assumptions and analysis made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
SOURCE Trulieve Cannabis Corp.
For further information: Lynn Ricci, Director, Investor Relations, 850-270-5691, IR@trulieve.com