NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Hempsana Holdings Ltd. (the " Company " or " Hempsana "), today announced that it has entered into a custom manufacturing agreement with Feel Ventures Inc. (" Feel Ventures "), to launch their first products from their ufeelu branded line of products.
Under the terms of the agreement, Hempsana has agreed to manufacture their best-selling SKUs that target non-psychoactive experiences both from a cannabinoid and terpene level perspective. Hempsana will leverage its manufacturing services as well as its newly commercialized production capabilities focused on minor cannabinoids such as CBG and CBN to manufacture and distribute Feel Venture's first products from the ufeelu branded product line.
Feel Ventures is a Vancouver-based boutique brand house focused on creating innovative and approachable cannabinoid-based products. The ufeelu product line uses Canadian-grown hemp and carefully selected plant-based terpenes to craft naturally enhanced broad spectrum CBD blends in various consumable methods. The low THC line of products is designed for those who want to embrace whole plant extracts without the psychoactive effects.
"We are excited to be partnering with Feel Ventures to launch one of their best-selling SKUs from their ufeelu branded portfolio," said Randy Ko, CEO of Hempsana. "Working with a unique and innovative brand such as ufeelu complements our vision to bring exciting new rare cannabinoids to consumers. The ufeelu line will leverage Hempsana's minor cannabinoid extracts, to bring unique curated non-psychoactive CBD products to Canadian consumers in 2022."
"At ufeelu our goal is to set the bar on curated experience-based products," said Sameer Padamsey, Director at Feel Ventures. "Partnering with Hempsana, we get to leverage their research, development and extraction of rare cannabinoids with the work we have done with plant-based terpenes to set the industry standard for non-psychoactive craft cannabis products".
About Hempsana Holdings Ltd.
The Company's business involves the manufacturing of major and minor cannabinoid derivatives and producing cannabis extracts for use in finished products, including topical creams, vape pens and other infused consumables. Hempsana's Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company with access to wholesale and retail channels in Canada and internationally. Hempsana currently offers a wide range of product formats, including topicals, tinctures, salves, vape pens which can all be fortified with major and minor cannabinoids that are all manufactured by Hempsana.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company's public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220110005257/en/
Additional Information
For additional information regarding Hempsana, please contact:
Randy Ko
Director and Chief Executive Officer
T: (647) 255-8849
E: randy@hempsana.ca
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Hempsana Holdings Ltd. (the " Company " or " Hempsana ") today announced fourth quarter and annual financial results for the twelve-month period ended December 31, 2021.
Randy Ko, Hempsana's CEO commented: "2021 was the inaugural year for Hempsana. After several years of preparation and hard work, we completed the build out of our facility and launched commercial operations. We also completed the RTO and became publicly traded. 2021 was the year we laid the foundation for longer term growth: we built a production and management team, amended our cannabis licence to authorize us to directly sell, established strategic supplier relationships and developed key customer relationships. While the cannabis market faced significant turmoil in 2021, we were able to advance our business plan despite the challenges."
Operational Highlights:
Financial Highlights
Options Grant Announcement
The Company announces the grant of an aggregate of 757,000 incentive stock options to certain directors and officers of the Corporation exercisable at CAD$0.05 until April 22, 2032 pursuant to the Corporation's stock option plan.
About Hempsana Holdings Ltd.
The Company's business involves the manufacturing of major and minor cannabinoid derivatives and producing cannabis extracts for use in finished products and other infused consumables. Hempsana's Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company access to wholesale and retail channels in Canada and internationally. Hempsana currently offers a wide range of product formats, including cannabis concentrates, diamonds, tablets, topicals, tinctures, salves, infused pre-rolls, and hemp-based CBD products that are all manufactured and distributed by Hempsana.
Additional Information
For additional information regarding Hempsana, please contact:
Randy Ko
Director and Chief Executive Officer
T: (647) 255-8849
E: randy@Hempsana.ca
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company's public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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Hempsana Holdings Ltd. (the " Company " or " Hempsana ") a leader in the production and refinement of cannabinoids and manufacturing of Cannabis 2.0 products, is pleased to announce with GAMA Corp (" GAMA ") a contract manufacturing agreement with Caviar Gold Brand to bring the original infused and the only patented brand in the world pre-roll cones and moon rocks to the Canadian and International Markets for both the recreational and medical market.
"We are extremely excited to team up with Cavi Mike and his Caviar Gold, Ice Cube and Jay & Silent Bob brands to deliver their patented high quality high potency infused products to Canada. The Caviar Gold brand continues to dominate the infused pre-roll cone and moon rock categories across multiple states in the USA, and now is the right time to share these brands in Canada and abroad," said Randy Ko, Chief Executive Officer of Hempsana.
Caviar Gold Brands have differentiated and set their products apart from all other infused flower brands using a proprietary extraction process and an innovative unique finishing process for their infused products. Hempsana and GAMA expect to begin initial production of Caviar Gold's portfolio of infused pre-rolls and moon rocks in Q2 of 2022 with launch dates of the products and distribution to retail stores across Canada to commence in the second half of 2022. The product portfolio will include, but not limited to, one gram infused pre-roll cones and moon rocks in one-gram and two-gram sizes for the following strains:
About Hempsana Holdings Ltd.
The Company's business involves the manufacturing of major and minor cannabinoid derivatives and producing cannabis extracts for use in finished products and other infused consumables. Hempsana's Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company access to wholesale and retail channels in Canada and internationally. Hempsana currently offers a wide range of product formats, including cannabis concentrates, diamonds, tablets, topicals, tinctures, salves, infused pre-rolls, and hemp-based CBD products that are all manufactured and distributed by Hempsana.
About GAMA Corp.
The Company's business involves consulting on the formulation and stabilization of major and minor cannabinoid derivatives and partnering with Licensed producers to deliver contract manufacturing operational (CMO) services for existing power brands out of the United States and unique products that are in high demand and short supply in Canada and International markets.
About Caviar Gold Brand
Caviar Gold Brand is a cannabis products processor that utilizes patented processes to infuse full spectrum THC into premium quality cannabis flower, to produce the one of the most potent (up to 58% THC) and smokable pre-rolls and moon rocks in the market. Along with its award-winning line up of Caviar Gold Products, Caviar Gold Brand manufacturers customized formulations for internationally recognized Celebrities such as Ice Cube, Jay & Silent Bob brands at this time. Currently, products are available in many states including: California, Nevada, Arizona, Colorado, Michigan and Oklahoma, with several additional states coming online in 2022.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company's public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220411005280/en/
For additional information regarding Hempsana, please contact:
Randy Ko
Director and Chief Executive Officer
T: (647) 255-8849
E: randy@hempsana.ca
News Provided by Business Wire via QuoteMedia
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Hempsana Holdings Ltd. (the " Company " or " Hempsana ") a leader in the production and refinement of cannabinoids and Cannabis 2.0 products, is delighted to announce that it has entered into a contract manufacturing agreement with GAMA Corp (" GAMA ") to co-manufacture and distribute new products and well recognized brands from the United States to the Canadian and International Markets for both recreational and medicinal use.
Under the terms of the agreement, GAMA will leverage Hempsana's EU GMP compliant facility and its full suite of product manufacturing capabilities to support the product development of the following product categories:
"We are extremely excited to partner with GAMA Corp to deliver Contract Manufacture Operation (CMO) services as we continue to expand our manufacturing capabilities into underrepresented product categories in the cannabis space. We're especially excited about the launch of various recognized brands for the Canadian consumers and medical patients," said Randy Ko, Chief Executive Officer of Hempsana.
Combined, Hempsana and GAMA have over 195 SKUs that are currently under review with Health Canada and will be available to be purchased by Provincial Wholesalers by the beginning of summer 2022 with additional white label service offerings for LPs and brands interested in highly innovative products not yet available in the marketplace.
About Hempsana Holdings Ltd.
The Company's business involves the manufacturing of major and minor cannabinoid derivatives and producing cannabis extracts for use in finished products, including topical creams, vape pens and other infused consumables. Hempsana's Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company access to wholesale and retail channels in Canada and internationally. Hempsana currently offers a wide range of product formats, including topicals, tinctures, salves, vape pens which can all be fortified with major and minor cannabinoids that are all manufactured and distributed by Hempsana.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company's public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220328005009/en/
Additional Information
For additional information regarding Hempsana, please contact:
Randy Ko
Director and Chief Executive Officer
T: (647) 255-8849
E: randy@hempsana.ca
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Hempsana Holdings Ltd. (the " Company " or " Hempsana ") a leader in the production and refinement of cannabinoids and manufacturing of Cannabis 2.0 products, is pleased to announce a trilateral partnership with NaturalSci Regulatory Consulting Corp. and 6Pak Solutions Inc. This partnership will provide full turnkey solutions to brands and licensed producers looking to launch cannabis products to the Canadian cannabis market and help them navigate through many of the go-to-market challenges that are faced in launching products including but not limited to:
All three parties are very excited to officially announce this partnership and bring this idea to fruition. "I am very proud of my team and our fantastic partners for creating this new trilateral partnership; working together to serve the industry and expedite the growth of new brands in the Canadian market," said CEO Kyley Paul of NaturalSci Regulatory.
"6Pak is very excited about this opportunity to work with NSRC and Hempsana. It extends the scope of what we're able to offer our clientele, making the legal industry more accessible for all," said Chris Sharanewych, CEO of 6Pak Solutions.
"Although the Canadian cannabis industry is fraught with inefficiencies, the market continues to mature and this partnership really exemplifies how good partnerships such as this one can close many of the gaps in the industry and, at the same time, bring great value to our future branded partners," said Randy Ko, CEO of Hempsana.
About Hempsana Holdings Ltd.
The Company's business involves the manufacturing of major and minor cannabinoid derivatives and producing cannabis extracts for use in finished products and other infused consumables. Hempsana's Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company access to wholesale and retail channels in Canada and internationally. Hempsana currently offers a wide range of product formats, including cannabis concentrates, topicals, tinctures, salves, infused pre-rolls, and inhalable products which can all be fortified with major and minor cannabinoids that are all manufactured and distributed by Hempsana.
NaturalSci Regulatory Consulting Corp.
CEO Kyley Paul of NaturalSci Regulatory comes directly from industry experience having been the previous Regulatory Coordinator with Jamieson Laboratories prior to founding her company in 2015. The team has combined over 20 years experience in the NHP, cosmetic and cannabis sectors and licensed 1000's of products within all categories for brands across North America and Globally. NaturalSci Reg's core values include: Doing the Job Right the First Time and Investing in People and Relationships. We take pride in building trust with our clients and operate on relationships not transactions. We revel in providing excellence for regulatory and compliance in Cannabis and Natural Health Products industries.
6Pak Solutions Inc
6Pak Solutions Inc is a co-packing offshoot of ATG Pharma Inc, who are global leaders in automated liquid filling equipment. 6Pak uses this state-of-the-art equipment to fill, package, and label cannabis extract products. 6Pak works out of federally licensed facilities, all operators are highly trained, and equipment is GMP-compliant. 6Pak is currently able to assist with the manufacturing of vape cartridges, tinctures, and topicals. Our philosophy is to use our equipment, experience, and expertise to turn your 2.0 production from a point of stress to a point of strength.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company's public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220321005589/en/
Additional Information
For additional information regarding Hempsana, please contact:
Randy Ko
Director and Chief Executive Officer
T: (647) 255-8849
E: randy@hempsana.ca
News Provided by Business Wire via QuoteMedia
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR
DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Hempsana Holdings Ltd. (the " Company " or " Hempsana ") a leader in the production and refinement of cannabinoids and Cannabis 2.0 products, is pleased to announce that Hempsana has entered into a non-binding Letter of Intent ("LOI") with Dreamdos Therapeutics Inc.(" Dreamdos ") to supply its premium medical cannabis products. Dreamdos is applying for its license to sell, distribute and import medical cannabis products in the Barbados market. Hempsana expects to ship its medical-grade cannabis products upon Dreamdos receiving its updated licensing.
Under the terms of the agreement, Dreamdos will draw on Hempsana's full suite of product manufacturing capabilities to supply Barbados and the Carribean market with a range of cannabis tincture products. Specifically, Dreamdos intends to initially launch three cannabis tinctures in the form of a balanced THC:CBD formulation as well as THC dominant and CBD dominant cannabis tinctures.
"On the backs of obtaining our medical sales license, this global partnership expands our footprint beyond the Canadian borders. The medical patient market has been an underserved consumer segment, not just here in Canada but globally, and we are delighted to be working with Dreamdos to bring high quality medical products to the medical patients in the Caribbean region," said Randy Ko, President and CEO of Hempsana Inc.
"Dreamdos is extremely pleased to partner with Hempsana to bring quality medical products to legal markets in the Caribbean region," said William Wells, Founder of Dreamdos Therapeutics Inc. "Dreamdos' mission is to bring innovative health products to underserved patients throughout the Caribbean region. Outstanding partners like Hempsana ensure our mission is successful."
About Hempsana Holdings Ltd.
The Company's business involves the manufacturing of major and minor cannabinoid derivatives and producing cannabis extracts for use in finished products, including topical creams, vape pens and other infused consumables. Hempsana's Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company access to wholesale and retail channels in Canada and internationally. Hempsana currently offers a wide range of product formats, including topicals, tinctures, salves, vape pens which can all be fortified with major and minor cannabinoids that are all manufactured and distributed by Hempsana.
About Dreamdos Therapeutics Inc.
Operating through its Barbados hub, the company acquires and distributes medical products to wholesale and retail channels in legal markets for the Caribbean region.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company's public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220317005630/en/
Additional Information
For additional information regarding Hempsana, please contact:
Randy Ko
Director and Chief Executive Officer
T: (647) 255-8849
E: randy@hempsana.ca
News Provided by Business Wire via QuoteMedia
Trulieve Cannabis Corp . (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced its results for the quarter ended September 30, 2024. Results are reported in U.S. dollars and in accordance with U.S. Generally Accepted Accounting Principles unless otherwise indicated. Numbers may not sum perfectly due to rounding.
Q3 2024 Financial and Operational Highlights*
*See "Non-GAAP Financial Measures" below for additional information and a reconciliation to GAAP for all Non-GAAP metrics.
Recent Developments
Management Commentary
"As voters in Florida cast their ballots across the state today, there is an opportunity to make history by approving cannabis legalization for personal use," said Kim Rivers , Trulieve CEO. "With 156 stores in Florida , scaled production capacity, and sufficient capital to support further investment, if approved, Trulieve is best positioned to fully prepare for the launch of recreational sales next Spring."
Financial Highlights*
Results of Operations | For the Three Months Ended | For the Nine Months Ended | |||||||||||
(Figures in millions except per | September | September | % Better / | June 30, | % Better / | September | September | % Better / | |||||
Revenue | $ | 284 | $ | 275 | 3 % | $ | 303 | (6 %) | $ | 885 | $ | 842 | 5 % |
Gross profit | $ | 173 | $ | 143 | 21 % | $ | 182 | (5 %) | $ | 529 | $ | 435 | 22 % |
Gross margin % | 61 % | 52 % | 60 % | 60 % | 52 % | ||||||||
Operating expenses | $ | 173 | $ | 120 | (44 %) | $ | 132 | (31 %) | $ | 432 | $ | 686 | 37 % |
Operating expenses % | 61 % | 43 % | 43 % | 49 % | 81 % | ||||||||
Net loss** | $ | (60) | $ | (25) | (137 %) | $ | (12) | NMF | $ | (95) | $ | (493) | 81 % |
Net loss continuing | $ | (60) | $ | (23) | (163 %) | $ | (11) | NMF | $ | (94) | $ | (399) | 76 % |
Adjusted net (loss) income | $ | (12) | $ | (15) | 19 % | $ | 0 | NMF | $ | (22) | $ | (47) | 53 % |
Basic and diluted shares | 190 | 189 | 190 | 190 | 189 | ||||||||
EPS continuing operations | $ | (0.32) | $ | (0.12) | (168 %) | $ | (0.04) | NMF | $ | (0.52) | $ | (2.09) | 75 % |
Adjusted EPS | $ | (0.06) | $ | (0.08) | 20 % | $ | 0.00 | NMF | $ | (0.12) | $ | (0.25) | 54 % |
Adjusted EBITDA | $ | 96 | $ | 78 | 24 % | $ | 107 | (10 %) | $ | 309 | $ | 235 | 32 % |
Adjusted EBITDA Margin % | 34 % | 28 % | 35 % | 35 % | 28 % | ||||||||
NMF - No Meaningful Figure |
*See "Non-GAAP Financial Measures" below for additional information and a reconciliation to GAAP for all Non-GAAP metrics. |
**Net loss attributable to common shareholders which excludes non-controlling interest. |
Conference Call
The Company will host a conference call and live audio webcast on November 5, 2024, at 8:30 A.M. Eastern time , to discuss its third quarter 2024 financial results. Interested parties can join the conference call by dialing in as directed below. Please dial in 15 minutes prior to the call.
North American toll free: 1-844-824-3830 | Passcode: 3735709 | |
International: 1-412-542-4136 | Passcode: 3735709 |
A live audio webcast of the conference call will be available at:
Trulieve Cannabis Corp Q3 2024 Earnings
A powerpoint presentation and archived replay of the webcast will be available at:
https: //investors.trulieve.com/events
The Company's Form 10-Q for the quarter ended September 30, 2024, will be available on the SEC's website or at https://investors.trulieve.com/quarterly-results . The Company's Management Discussion and Analysis for the period and the accompanying financial statements and notes will be available under the Company's profile on https://www.sedarplus.ca/landingpage/ and on its website at https://investors.trulieve.com/quarterly-results . This news release is not in any way a substitute for reading those financial statements, including the notes to the financial statements.
Trulieve Cannabis Corp. Condensed Consolidated Balance Sheets (Unaudited) (in millions, except for share data) | |||
September 30, | December 31, | ||
ASSETS | |||
Current Assets: | |||
Cash and cash equivalents | $ 237.7 | $ 201.4 | |
Short-term investments | 80.2 | — | |
Restricted cash | 0.9 | 6.6 | |
Accounts receivable, net | 9.0 | 6.7 | |
Inventories | 220.9 | 213.1 | |
Income tax receivable | 5.8 | — | |
Prepaid expenses | 19.2 | 17.6 | |
Other current assets | 26.6 | 23.7 | |
Notes receivable - current portion, net | 1.8 | 6.2 | |
Assets associated with discontinued operations | 0.9 | 2.0 | |
Total current assets | 603.0 | 477.3 | |
Property and equipment, net | 701.6 | 676.4 | |
Right of use assets - operating, net | 116.1 | 95.9 | |
Right of use assets - finance, net | 65.6 | 58.5 | |
Intangible assets, net | 873.3 | 917.2 | |
Goodwill | 483.9 | 483.9 | |
Notes receivable, net | 5.8 | 7.4 | |
Other assets | 23.0 | 10.4 | |
Long-term assets associated with discontinued operations | 2.0 | 2.0 | |
TOTAL ASSETS | $ 2,874.2 | $ 2,729.1 | |
LIABILITIES | |||
Current Liabilities: | |||
Accounts payable and accrued liabilities | $ 96.1 | $ 83.2 | |
Deferred revenue | 6.7 | 1.3 | |
Notes payable - current portion | 3.3 | 3.8 | |
Operating lease liabilities - current portion | 11.6 | 10.1 | |
Finance lease liabilities - current portion | 9.1 | 7.6 | |
Construction finance liabilities - current portion | 1.8 | 1.5 | |
Contingencies | 4.6 | 4.4 | |
Liabilities associated with discontinued operations | 3.5 | 3.0 | |
Total current liabilities | 136.7 | 114.8 | |
Long-Term Liabilities: | |||
Private placement notes, net | 364.4 | 363.2 | |
Notes payable, net | 112.8 | 115.9 | |
Operating lease liabilities | 113.4 | 92.2 | |
Finance lease liabilities | 68.4 | 61.7 | |
Construction finance liabilities | 135.9 | 136.7 | |
Deferred tax liabilities | 204.2 | 207.0 | |
Uncertain tax position liabilities | 384.1 | 180.4 | |
Other long-term liabilities | 6.5 | 7.1 | |
Long-term liabilities associated with discontinued operations | 39.4 | 41.6 | |
TOTAL LIABILITIES | $ 1,565.8 | $ 1,320.4 | |
MEZZANINE EQUITY | |||
Redeemable non-controlling interest | $ 7.1 | $ — | |
SHAREHOLDERS' EQUITY | |||
Common stock, no par value; unlimited shares authorized. 189,154,228 and | $ — | $ — | |
Additional paid-in-capital | 2,048.0 | 2,055.1 | |
Accumulated deficit | (736.0) | (640.6) | |
Non-controlling interest | (10.7) | (5.9) | |
TOTAL SHAREHOLDERS' EQUITY | 1,301.3 | 1,408.6 | |
TOTAL LIABILITIES, MEZZANINE EQUITY, AND SHAREHOLDERS' EQUITY | $ 2,874.2 | $ 2,729.1 | |
Trulieve Cannabis Corp. Condensed Consolidated Statements of Operations (Unaudited) (in millions, except for share data) | |||||||
Three Months Ended | Nine Months Ended | ||||||
2024 | 2023 | 2024 | 2023 | ||||
Revenue | $ 284.3 | $ 275.2 | $ 885.3 | $ 842.2 | |||
Cost of goods sold | 111.0 | 132.3 | 356.6 | 407.4 | |||
Gross profit | 173.3 | 142.9 | 528.7 | 434.8 | |||
Expenses: | |||||||
Sales and marketing | 66.7 | 59.4 | 191.0 | 181.2 | |||
General and administrative | 81.9 | 34.5 | 161.5 | 108.7 | |||
Depreciation and amortization | 28.3 | 27.0 | 84.2 | 82.6 | |||
Impairment and disposal of long-lived assets, net of (recoveries) | (4.3) | (1.2) | (4.4) | 5.5 | |||
Impairment of goodwill | — | — | — | 307.6 | |||
Total expenses | 172.7 | 119.6 | 432.3 | 685.6 | |||
Income (loss) from operations | 0.6 | 23.3 | 96.5 | (250.8) | |||
Other income (expense): | |||||||
Interest expense, net | (17.5) | (20.8) | (47.6) | (60.9) | |||
Interest income | 4.2 | 1.9 | 11.5 | 4.3 | |||
Gain on debt extinguishment | — | 8.2 | — | 8.2 | |||
Other (expense) income, net | (0.2) | 1.1 | (4.8) | 5.9 | |||
Total other expense, net | (13.5) | (9.6) | (40.9) | (42.6) | |||
(Loss) income before provision for income taxes | (12.8) | 13.7 | 55.6 | (293.4) | |||
Provision for income taxes | 47.4 | 36.6 | 150.0 | 105.9 | |||
Net loss from continuing operations | (60.2) | (22.9) | (94.4) | (399.3) | |||
Net loss from discontinued operations, net of tax benefit | (1.6) | (2.9) | (4.6) | (99.1) | |||
Net loss | (61.9) | (25.8) | (99.0) | (498.3) | |||
Less: net loss attributable to non-controlling interest | (1.4) | (0.5) | (2.8) | (3.8) | |||
Less: net loss attributable to redeemable non-controlling interest | (0.3) | — | (0.9) | — | |||
Less: net loss attributable to non-controlling interest from | — | — | — | (1.2) | |||
Net loss attributable to common shareholders | $ (60.2) | $ (25.4) | $ (95.3) | $ (493.4) | |||
Earnings Per Share (see numerator reconciliation below) | |||||||
Net loss per share - Continuing operations: | |||||||
Basic and diluted | $ (0.32) | $ (0.12) | $ (0.52) | $ (2.09) | |||
Net loss per share - Discontinued operations: | |||||||
Basic and diluted | $ (0.01) | $ (0.02) | $ (0.02) | $ (0.52) | |||
Weighted average number of common shares used in computing net | |||||||
Basic and diluted | 190.2 | 188.9 | 190.0 | 189.0 | |||
EPS Numerator Reconciliation | |||||||
Net loss attributable to common shareholders (from above) | $ (60.2) | $ (25.4) | $ (95.3) | $ (493.4) | |||
Net loss from discontinued operations, net of tax, attributable to | 1.6 | 2.9 | 4.6 | 97.9 | |||
Adjustment of redeemable non-controlling interest to maximum | (2.1) | — | (9.0) | — | |||
Net loss from continuing operations available to common | $ (60.6) | $ (22.5) | $ (99.7) | $ (395.5) | |||
Trulieve Cannabis Corp. Condensed Consolidated Statements of Cash Flows (Unaudited) (in millions) | |||||||
Three Months Ended | Nine Months Ended | ||||||
2024 | 2023 | 2024 | 2023 | ||||
Cash flows from operating activities | |||||||
Net loss | $ (61.9) | $ (25.8) | $ (99.0) | $ (498.3) | |||
Adjustments to reconcile net loss to net cash provided by operating | |||||||
Depreciation and amortization | 28.3 | 27.0 | 84.2 | 83.6 | |||
Depreciation included in cost of goods sold | 13.3 | 14.5 | 40.1 | 45.4 | |||
Gain on debt extinguishment | — | (8.2) | — | (8.2) | |||
Impairment and disposal of long-lived assets, net of (recoveries) | (4.3) | (1.2) | (4.4) | 5.5 | |||
Impairment of goodwill | — | — | — | 307.6 | |||
Amortization of operating lease right of use assets | 3.0 | 2.5 | 8.3 | 7.8 | |||
Share-based compensation | 5.5 | 4.5 | 15.6 | 7.4 | |||
Allowance for credit losses | 0.5 | 0.5 | 4.9 | 0.9 | |||
Deferred income taxes | (6.2) | (6.5) | (2.7) | (18.7) | |||
Loss from disposal of discontinued operations | — | 0.6 | — | 69.8 | |||
Other non-cash changes | (0.3) | 1.7 | 0.9 | 5.0 | |||
Changes in operating assets and liabilities: | |||||||
Inventories | (13.3) | 26.2 | (8.3) | 66.5 | |||
Accounts receivable | (1.5) | (1.2) | (0.7) | (1.9) | |||
Prepaid expenses and other current assets | 4.9 | 4.3 | (0.9) | 9.3 | |||
Other assets | (1.1) | 0.3 | (6.1) | 2.0 | |||
Accounts payable and accrued liabilities | 4.9 | 8.9 | 4.6 | 4.5 | |||
Income tax receivable / payable | 0.5 | (0.1) | (4.3) | (49.9) | |||
Other liabilities | — | 0.9 | 0.2 | (14.4) | |||
Operating lease liabilities | (1.6) | (2.1) | (6.0) | (6.9) | |||
Deferred revenue | 2.3 | (2.2) | 5.3 | (6.0) | |||
Uncertain tax position liabilities | 51.0 | 50.7 | 203.8 | 61.8 | |||
Other long-term liabilities | 1.8 | (1.8) | (0.7) | (2.6) | |||
Proceeds received from insurance for operating expenses | 4.4 | — | 5.9 | — | |||
Net cash provided by operating activities | 30.3 | 93.4 | 240.8 | 70.4 | |||
Cash flows from investing activities | |||||||
Purchases of property and equipment | (36.9) | (6.3) | (79.0) | (31.0) | |||
Capitalized interest | (1.2) | 0.9 | (0.9) | 0.1 | |||
Purchases of internal use software | (6.8) | (3.4) | (18.3) | (7.7) | |||
Purchases of short-term investments | (80.0) | — | (80.0) | — | |||
Cash paid for licenses | (6.5) | — | (7.0) | (4.0) | |||
Payment for initial direct costs on finance leases | (0.6) | — | (0.6) | — | |||
Proceeds from disposal activities | 0.3 | 3.5 | 1.0 | 11.7 | |||
Proceeds from notes receivable repayments | 0.3 | 0.2 | 0.9 | 0.6 | |||
Proceeds received from insurance recoveries on property and equipment | — | — | 0.5 | — | |||
Net cash used in investing activities | (131.5) | (5.0) | (183.4) | (30.3) | |||
Cash flows from financing activities | |||||||
Payments for taxes related to net share settlement of equity awards | (12.2) | — | (12.3) | — | |||
Payments on finance lease obligations | (1.9) | (1.8) | (5.5) | (5.7) | |||
Payments on notes payable | (1.4) | (0.7) | (3.8) | (5.5) | |||
Payments on construction finance liabilities | (0.9) | (0.7) | (2.5) | (1.3) | |||
Payments and costs related to consolidated VIE settlement transaction | — | — | (5.1) | — | |||
Distributions to subsidiary non-controlling interest | — | — | (1.1) | (0.1) | |||
Payments on private placement notes | — | (47.6) | — | (47.6) | |||
Payments for debt issuance costs | — | (0.4) | — | (0.4) | |||
Proceeds from non-controlling interest holders' subscription | — | — | 3.0 | — | |||
Proceeds from equity exercises | — | — | 0.2 | — | |||
Net cash used in financing activities | (16.4) | (51.3) | (27.1) | (60.6) | |||
Net (decrease) increase in cash, and cash equivalents | (117.5) | 37.2 | 30.3 | (20.5) | |||
Cash, cash equivalents, and restricted cash, beginning of period | 356.1 | 159.9 | 208.0 | 213.8 | |||
Cash and cash equivalents of discontinued operations, beginning of | — | 1.8 | 0.3 | 5.7 | |||
Less: cash and cash equivalents of discontinued operations, end of period | — | (0.1) | — | (0.1) | |||
Cash, cash equivalents, and restricted cash, end of period | $ 238.6 | $ 198.9 | $ 238.6 | $ 198.9 | |||
The consolidated statements of cash flows include continuing operations and discontinued operations for the periods presented. | |||||||
Non-GAAP Financial Measures (Unaudited)
In addition to our results determined in accordance with GAAP, we supplement our results with non-GAAP financial measures, including EBITDA, adjusted EBITDA, adjusted EBITDA margin %, adjusted net (loss) income, adjusted net (loss) income per diluted share, and free cash flow. The Company calculates EBITDA as net income (loss) before net interest expense, income tax expense, depreciation and amortization; adjusted EBITDA as net income (loss) before net interest expense, interest income, income tax expense, depreciation and amortization and also excludes certain extraordinary items; adjusted EBITDA margin as adjusted EBITDA as % of revenue, adjusted net (loss) income as net income (loss) less certain extraordinary items; adjusted EPS as adjusted net (loss) income divided by basic and diluted shares outstanding; and free cash flow as cash flow from operations less capital expenditures. Our management uses these non-GAAP financial measures in conjunction with GAAP financial measures to evaluate our operating results and financial performance. We believe these measures are useful to investors as they are widely used measures of performance and can facilitate comparison to other companies. These non-GAAP financial measures are not, and should not be considered as, measures of liquidity. These non-GAAP financial measures have limitations as analytical tools in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP. Because of these limitations, these non-GAAP financial measures should be considered along with GAAP financial performance measures. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. A reconciliation of the non-GAAP financial measures to such GAAP measures can be found below. These non-GAAP financial measures should be considered supplemental to, and not a substitute for, our reported financial results prepared in accordance with GAAP.
Reconciliation of Non-GAAP EBITDA and Adjusted EBITDA (Unaudited)
The following table presents a reconciliation of GAAP net loss attributable to common shareholders to non-GAAP EBITDA and Adjusted EBITDA for each of the periods presented:
(Amounts expressed in millions of United States dollars) | Three Months Ended | For the Nine Months Ended | ||||||||
September | September | June 30, | September | September | ||||||
Net loss attributable to common shareholders | $ | (60.2) | $ | (25.4) | $ | (12.0) | $ | (95.3) | $ | (493.4) |
Add (deduct) impact of: | ||||||||||
Interest expense, net | $ | 17.5 | $ | 20.8 | $ | 15.4 | $ | 47.6 | $ | 60.9 |
Interest income | $ | (4.2) | $ | (1.9) | $ | (4.0) | $ | (11.5) | $ | (4.3) |
Provision for income taxes | $ | 47.4 | $ | 36.6 | $ | 47.2 | $ | 150.0 | $ | 105.9 |
Depreciation and amortization | $ | 28.3 | $ | 27.0 | $ | 28.1 | $ | 84.2 | $ | 82.6 |
Depreciation included in cost of goods sold | $ | 13.3 | $ | 14.6 | $ | 13.3 | $ | 40.1 | $ | 42.7 |
EBITDA (Non-GAAP) | $ | 42.1 | $ | 71.8 | $ | 88.0 | $ | 215.0 | $ | (205.5) |
EBITDA Margin (Non-GAAP) | 15 % | 26 % | 29 % | 24 % | (24 %) | |||||
Impairment of goodwill | $ | — | $ | — | $ | — | $ | — | $ | 307.6 |
Impairment and disposal of long-lived assets, net of | $ | (4.3) | $ | (1.2) | $ | 1.2 | $ | (4.4) | $ | 5.5 |
Legislative campaign contributions | $ | 48.4 | $ | 0.5 | $ | 5.0 | $ | 62.7 | $ | 19.6 |
Acquisition, transaction, and other non-recurring costs | $ | 2.6 | $ | 8.5 | $ | 4.3 | $ | 10.6 | $ | 16.1 |
Share-based compensation | $ | 5.5 | $ | 4.5 | $ | 5.0 | $ | 15.6 | $ | 7.4 |
Gain on debt extinguishment | $ | — | $ | (8.2) | $ | — | $ | — | $ | (8.2) |
Other (expense) income, net | $ | 0.2 | $ | (1.1) | $ | 1.8 | $ | 4.8 | $ | (5.9) |
Discontinued operations, net of tax, attributable to | $ | 1.6 | $ | 2.9 | $ | 1.6 | $ | 4.6 | $ | 97.9 |
Adjusted EBITDA (Non-GAAP) | $ | 96.1 | $ | 77.7 | $ | 107.0 | $ | 308.8 | $ | 234.5 |
Adjusted EBITDA Margin (Non-GAAP) | 34 % | 28 % | 35 % | 35 % | 28 % | |||||
Reconciliation of Non-GAAP Adjusted Net (Loss) Income (Unaudited)
The following table presents a reconciliation of GAAP net loss attributable to common shareholders to non-GAAP adjusted net (loss) income, for each of the periods presented:
For the Three Months Ended | For the Nine Months Ended | |||||||||
(Amounts expressed in millions of United States dollars) | September | September | June 30, | September | September | |||||
Net loss attributable to common shareholders | $ | (60.2) | $ | (25.4) | $ | (12.0) | $ | (95.3) | $ | (493.4) |
Net loss from discontinued operations, net of tax, | $ | 1.6 | $ | 2.9 | $ | 1.6 | $ | 4.6 | $ | 97.9 |
Adjustment of redeemable non-controlling interest to | $ | (2.1) | $ | — | $ | 1.9 | $ | (9.0) | $ | — |
Net loss from continuing operations available to common | $ | (60.6) | $ | (22.5) | $ | (8.5) | $ | (99.7) | $ | (395.5) |
Add (deduct) impact of: | ||||||||||
Adjustment of redeemable non-controlling interest to | $ | 2.1 | $ | — | $ | (1.9) | $ | 9.0 | $ | — |
Impairment of goodwill | $ | — | $ | — | $ | — | $ | — | $ | 307.6 |
Impairment and disposal of long-lived assets, net of | $ | (4.3) | $ | (1.2) | $ | 1.2 | $ | (4.4) | $ | 5.5 |
Legislative campaign contributions | $ | 48.4 | $ | 0.5 | $ | 5.0 | $ | 62.7 | $ | 19.6 |
Acquisition, transaction, and other non-recurring costs | $ | 2.6 | $ | 8.5 | $ | 4.3 | $ | 10.6 | $ | 16.1 |
Fair value of derivative liabilities - warrants | $ | — | $ | — | $ | — | $ | — | $ | (0.3) |
Adjusted net (loss) income (Non-GAAP) | $ | (11.9) | $ | (14.7) | $ | 0.2 | $ | (21.9) | $ | (47.0) |
Reconciliation of Non-GAAP Adjusted Net (Loss) Income Per Diluted Share (Unaudited)
The following table presents a reconciliation of GAAP net loss attributable to common shareholders per share to non-GAAP adjusted net (loss) income per diluted share, for each of the periods presented:
For the Three Months Ended | For the Nine Months Ended | |||||||||
(Amounts expressed are per share except for shares | September | September | June 30, | September | September | |||||
Net loss attributable to common shareholders | $ | (0.32) | $ | (0.13) | $ | (0.06) | $ | (0.50) | $ | (2.61) |
Net loss from discontinued operations, net of tax, | $ | 0.01 | $ | 0.02 | $ | 0.01 | $ | 0.02 | $ | 0.52 |
Adjustment of redeemable non-controlling interest to | $ | (0.01) | $ | — | $ | 0.01 | $ | (0.05) | $ | — |
Net loss from continuing operations available to common | $ | (0.32) | $ | (0.12) | $ | (0.04) | $ | (0.52) | $ | (2.09) |
Add (deduct) impact of: | ||||||||||
Adjustment of redeemable non-controlling interest to | $ | 0.01 | $ | — | $ | (0.01) | $ | 0.05 | $ | — |
Impairment of goodwill | $ | — | $ | — | $ | — | $ | — | $ | 1.63 |
Impairment and disposal of long-lived assets, net of | $ | (0.02) | $ | (0.01) | $ | 0.01 | $ | (0.02) | $ | 0.03 |
Legislative campaign contributions | $ | 0.25 | $ | 0.00 | $ | 0.03 | $ | 0.33 | $ | 0.10 |
Acquisition, transaction, and other non-recurring costs | $ | 0.01 | $ | 0.05 | $ | 0.02 | $ | 0.06 | $ | 0.09 |
Fair value of derivative liabilities - warrants | $ | — | $ | — | $ | — | $ | — | $ | 0.00 |
Adjusted net (loss) income (Non-GAAP) | $ | (0.06) | $ | (0.08) | $ | 0.00 | $ | (0.12) | $ | (0.25) |
Basic and diluted shares outstanding | 190.2 | 188.9 | 190.3 | 190.0 | 189.0 | |||||
Reconciliation of Non-GAAP Free Cash Flow (Unaudited)
The following table presents a reconciliation of GAAP cash flow from operating activities to non-GAAP free cash flow, for each of the periods presented:
For the Three Months Ended | For the Nine Months Ended | |||||||||
(Amounts expressed in millions of United States dollars) | September | September | June 30, | September | September | |||||
Cash flow from operating activities | $ | 30.3 | $ | 93.4 | $ | 71.3 | $ | 240.8 | $ | 70.4 |
Payments for property and equipment | $ | (36.9) | $ | (6.3) | $ | (26.5) | $ | (79.0) | $ | (31.0) |
Free cash flow (Non-GAAP) | $ | (6.6) | $ | 87.2 | $ | 44.8 | $ | 161.8 | $ | 39.4 |
Forward-Looking Statements
This news release includes forward-looking information and statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to the Company's expectations or forecasts of business, operations, financial performance, cash flows, prospects, and other plans, intentions, expectations, estimates, and beliefs and include statements regarding the potential approval of cannabis legalization for personal use in Florida , the Company's growth opportunities and the Company's positioning for the future. 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, including, without limitation, the risks discussed under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 and in our periodic reports subsequently filed with the United Sates Securities and Exchange Commission and in the Company's filings on https://www.sedarplus.ca/landingpage/ . 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.
About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with leading market positions in Arizona , Florida , and Pennsylvania . Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com .
Facebook: @Trulieve
Instagram: @Trulieve_
X: @Trulieve
Investor Contact
Christine Hersey , Vice President of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com
Media Contact
Phil Buck , APR, Corporate Communications Manager
+1 (406) 370-6226
Philip.Buck@Trulieve.com
View original content to download multimedia: https://www.prnewswire.com/news-releases/trulieve-reports-third-quarter-2024-results-ahead-of-florida-adult-use-vote-302296068.html
SOURCE Trulieve Cannabis Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2024/05/c9112.html
News Provided by Canada Newswire via QuoteMedia
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos" or the "Company") will hold its 2024 third quarter earnings conference call on Tuesday, November 12, 2024 at 8:30 a.m. ET. Cronos' senior management team will discuss the Company's financial results and will be available for questions from the investment community after prepared remarks.
To attend the conference call or webcast, participants should register online at https://ir.thecronosgroup.com/events-presentations . To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. The webcast of the call will be archived for replay on the Company's website.
About Cronos
Cronos is an innovative global cannabinoid company committed to building disruptive intellectual property by advancing cannabis research, technology and product development. With a passion to responsibly elevate the consumer experience, Cronos is building an iconic brand portfolio. Cronos' diverse international brand portfolio includes Spinach ® , PEACE NATURALS ® and Lord Jones ® . For more information about Cronos and its brands, please visit: thecronosgroup.com .
Forward-looking Statements
This press release may contain information that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws and court decisions (collectively, "Forward-looking Statements"). All information contained herein that is not clearly historical in nature may constitute Forward-looking Statements. In some cases, Forward-looking Statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify Forward-looking Statements. Some of the Forward-looking Statements contained in this press release include statements about Cronos' intention to build an international iconic brand portfolio and develop disruptive intellectual property. Forward-looking Statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks, financial results, results, performance or achievements expressed or implied by those Forward-looking Statements and the Forward-looking Statements are not guarantees of future performance. A discussion of some of the material risks applicable to the Company can be found in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024 and June 30, 2024, each of which have been filed on SEDAR+ and EDGAR and can be accessed at www.sedarplus.ca and www.sec.gov/edgar, respectively. Any Forward-looking Statement included in this press release is made as of the date of this press release and, except as required by law, Cronos disclaims any obligation to update or revise any Forward-looking Statement. Readers are cautioned not to put undue reliance on any Forward-looking Statement.
Cronos Contact
Anna Shlimak
Investor Relations
Tel: (416) 504-0004
investor.relations@thecronosgroup.com
News Provided by GlobeNewswire via QuoteMedia
New Highlands County location will host grand opening celebration Friday, November 1 st
Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced the opening of a new medical cannabis dispensary in Lake Placid, Florida .
A grand opening celebration will be held Friday, November 1 , beginning at 9 a.m. , featuring music, specials, discounts, and opportunities to register for upcoming patient education sessions as well as learn about #YesOn3 and the ballot initiative to legalize adult cannabis use in Florida .
"We are proud to expand access to cannabis in Highlands County by opening this new dispensary," said Trulieve's Chief Executive Officer Kim Rivers . "We look forward to building relationships in the Lake Placid community."
Trulieve Lake Placid, located at 413 U.S. Highway 27, will be open 9 a.m. – 8:30 p.m. Monday through Saturday and 11 a.m. – 8 p.m. on Sundays , offering walk-in and express pickup service.
The new dispensary will carry a wide variety of popular products including Trulieve's portfolio of in-house brands such as Alchemy, Co2lors, Cultivar Collection, Modern Flower, Momenta, Muse, Roll One, Sweet Talk, and Trekkers. Customers will also have access to beloved partner brands such as Alien Labs, Bellamy Brothers , Binske, Black Tuna, Blue River , Connected Cannabis, DeLisioso, Khalifa Kush , Love's Oven, Miami Mango, O.pen, Seed Junky, and Sunshine Cannabis, all available exclusively at Trulieve in Florida .
Across Florida , Trulieve offers home delivery, convenient online ordering, and in-store pickup. Veterans receive 20% off every order when they show their military ID, and all first-time guests are eligible for a 60% new customer discount at any Florida Trulieve location. For more information, or to learn how to become a registered patient, please visit Trulieve.com and connect on Instagram or Facebook .
About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with leading market positions in Arizona , Florida , and Pennsylvania . Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com .
Facebook: @Trulieve
Instagram: @Trulieve_
X: @Trulieve
Investor Contact
Christine Hersey , Vice President of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com
Media Contact
Phil Buck , APR, Corporate Communications Manager
+1 (406) 370-6226
Philip.Buck@Trulieve.com
View original content to download multimedia: https://www.prnewswire.com/news-releases/trulieve-to-open-medical-cannabis-dispensary-in-lake-placid-florida-302286687.html
SOURCE Trulieve Cannabis Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2024/25/c9455.html
News Provided by Canada Newswire via QuoteMedia
Grand opening celebrations scheduled for Friday, October 18 th
Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced the opening of new Florida medical cannabis dispensaries in Bonita Springs and St. Augustine .
Grand opening celebrations at both locations will be held Friday, October 18 , beginning at 9 a.m. , featuring music, specials, discounts, and opportunities to register for upcoming patient education sessions as well as learn about #YesOn3 and the ballot initiative to legalize adult cannabis use in Florida .
"Opening these dispensaries allows us to better serve the needs of patients and caregivers in northeast and southwest Florida ," said Trulieve's Chief Executive Officer Kim Rivers . "We look forward to helping more people in Lee and St. John's Counties enhance their lives through medical cannabis."
Trulieve Bonita Springs South Tamiami, located at 28811 South Tamiami Trail, Unit 12, and Trulieve St. Augustine A1A, located at 3945 A1A South, will be open 9 a.m. – 8:30 p.m. Monday through Saturday and 11 a.m. – 8 p.m. on Sundays , offering walk-in and express pickup service.
Both new dispensaries will carry a wide variety of popular products including Trulieve's portfolio of in-house brands such as Alchemy, Co2lors, Cultivar Collection, Modern Flower, Momenta, Muse, Roll One, Sweet Talk, and Trekkers. Customers will also have access to beloved partner brands such as Alien Labs, Bellamy Brothers , Binske, Black Tuna, Blue River , Connected Cannabis, DeLisioso, Khalifa Kush , Love's Oven, Miami Mango, O.pen, Seed Junky, and Sunshine Cannabis, all available exclusively at Trulieve in Florida .
Across Florida , Trulieve offers home delivery, convenient online ordering, and in-store pickup. Veterans receive 20% off every order when they show their military ID, and all first-time guests are eligible for a 60% new customer discount at any Florida Trulieve location. For more information, or to learn how to become a registered patient, please visit Trulieve.com and connect on Instagram or Facebook .
About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with leading market positions in Arizona , Florida , and Pennsylvania . Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com .
Facebook: @Trulieve
Instagram: @Trulieve_
X: @Trulieve
Investor Contact
Christine Hersey , Vice President of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com
Media Contact
Phil Buck , APR, Corporate Communications Manager
+1 (406) 370-6226
Philip.Buck@Trulieve.com
View original content to download multimedia: https://www.prnewswire.com/news-releases/trulieve-to-open-florida-medical-cannabis-dispensaries-in-bonita-springs-and-st-augustine-302275854.html
SOURCE Trulieve Cannabis Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2024/15/c9022.html
News Provided by Canada Newswire via QuoteMedia