Trulieve Announces Proposed Public Offering of Subordinate Voting Shares in the United States and Canada

 Trulieve Cannabis Corp. (CSE: TRUL) (OTC: TCNNF) ("Trulieve" or "the Company"), today announced the launch of a marketed public offering of Trulieve's subordinated voting shares in the United States and Canada (the "Offering"). The Company is offering to sell 4,400,440 subordinate voting shares in an underwritten public offering. In addition, Trulieve intends to grant the underwriters a 30-day option to purchase up to an additional 660,066 subordinate voting shares at the public offering price, less the underwriting discounts and commissions.  The Offering will be conducted through a syndicate of underwriters led by Canaccord Genuity LLC, as sole book-running manager. The Offering is subject to market conditions and there can be no assurance as to whether or when the Offering may be completed or as to the actual size or terms of the Offering.

Net proceeds from the Offering are expected to be used primarily to fund Trulieve's business ‎development and for general working capital purposes‎. Closing of the Offering is subject to certain ‎conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange ‎approvals, including the approval of the Canadian Securities Exchange (the "CSE") and the applicable securities ‎regulatory authorities‎.

In connection with the Offering, Trulieve filed a registration statement on Form S-1 (the "Registration Statement") with the U.S. Securities and Exchange Commission (the "SEC"), but the Registration Statement has not yet become effective. The subordinate voting shares may not be sold, nor may offers to buy be accepted, in the U.S. prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. The Offering is being made in the U.S. only by means of a prospectus included in the Registration Statement, copies of which may be obtained from: Canaccord Genuity LLC, Attention: Syndicate Department, 99 High Street, 12th Floor, Boston MA 021990, by email at prospectus@cgf.com .  The Registration Statement has also been filed under the Company's profile on SEDAR at www.sedar.com .

The subordinated voting shares will be offered in all of the provinces and territories of Canada , other than the Province of Quebec , pursuant to a prospectus supplement to the Company's short form base shelf prospectus dated January 29, 2021 , to be filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada . Copies of the Canadian base shelf prospectus and the prospectus supplement, following filing thereof, may be obtained from: Canaccord Genuity LLC, Attention: Syndicate Department, by email at prospectus@cgf.com . ‎Prospective investors should read the base shelf prospectus and the prospectus supplement and the other documents the Company has filed on SEDAR at ‎www.sedar.com before making an investment decision. No securities regulatory authority has either approved or disapproved the contents of this press release.

About Trulieve

Trulieve is primarily a vertically integrated "seed-to-sale" company in the US, 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 also operates in California , Massachusetts , Connecticut and Pennsylvania . Trulieve's subordinate voting shares are listed on the CSE under the symbol "TRUL" and trade on the OTCQX market under the symbol "TCNNF".

Forward-Looking Statements

This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding the size of the Offering, completion of the Offering, the intended use of the net proceeds of the Offering, the listing of the subordinate voting shares of the Company on the CSE or inferring the future business, operations, financial performance, prospects, capital raising initiatives and other plans, intentions, expectations, estimates, and beliefs of the Company. 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 the Offering, the timing for closing of the Offering, the SEC declaring the Registration Statement effective, the receipt of all required regulatory approvals, 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. Such factors include, among others: the risks and uncertainties identified in the (final) short form base shelf prospectus of the Company and the Registration Statement and in the Company's other reports and filings with the applicable Canadian securities regulators and the SEC. 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 CSE has not reviewed, approved or disapproved the content of this news release.

Cision View original content: https://www.prnewswire.com/news-releases/trulieve-announces-proposed-public-offering-of-subordinate-voting-shares-in-the-united-states-and-canada-301262354.html

SOURCE Trulieve Cannabis Corp.

News Provided by PR Newswire via QuoteMedia

The Conversation (0)
Court gavel in front of national flag of the USA having shadows of cannabis on wooden table.

DEA Submits Proposal to Reschedule Cannabis, Stocks Rally

The Associated Press reported Tuesday (April 30) that the US Drug Enforcement Administration (DEA) was on the cusp of rescheduling cannabis from a Schedule I substance, the same category as heroin and methamphetamines, to Schedule III.

The Department of Health and Human Services suggested cannabis be reclassified on August 29, 2023, and the DEA has been deliberating on the decision for months, urged by lawmakers to heed the recommendation.

According to the report, Attorney General Merrick Garland was scheduled to submit the proposal to the White House Office of Management and Budget on Tuesday afternoon. President Biden has been vocal about his stance on this issue and has urged the Attorney General to expedite the process, suggesting his readiness to move forward once the proposal reaches his desk.

Keep reading...Show less

Goodness Growth Provides CREAM & Fire Updates

Josh Rosen to shed Interim title and become Chief Executive Officer; Company provides other key personnel updates –

– Company receives a short-term extension of the maturity date on its credit facility –

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Goodness Growth Holdings to Release First Quarter 2024 Results on May 7, 2024

Goodness Growth Holdings, Inc. ("Goodness Growth" or the "Company") (CSE: GDNS; OTCQX: GDNSF), a cannabis company committed to providing safe access, quality products and great value to its customers, today announced that it will release its financial results for its first quarter ended March 31, 2024 on Tuesday, May 7, 2024 after the market closes.

Goodness Growth management will host a conference call with the investment community that day, Tuesday, May 7, 2024 at 4:30 p.m. ET (3:30 p.m. CT) to discuss its results. Interested parties may attend the conference call by dialing 1-800-715-9871 (Toll-Free) (US and Canada) or 1-646-307-1963 (Toll) (International) and referencing conference ID number 3718174.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Cronos Group Inc. to Hold Virtual 2024 Annual Meeting of Shareholders

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos" or the "Company") will hold its 2024 Annual Meeting of Shareholders on Thursday, June 20, 2024, at 11:00 a.m. ET.

Cronos will be conducting the meeting in a virtual-only format via live audio webcast. Registered shareholders and duly appointed proxyholders will have an equal opportunity to participate in the 2024 Annual Meeting online regardless of their geographic location, including a chance to ask questions and vote.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Cronos Group Inc. to Hold 2024 First Quarter Earnings Conference Call on May 9, 2024

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos" or the "Company") will hold its 2024 first quarter earnings conference call on Thursday, May 9, 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.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Cannabis Market Flourishes Amid Global Legalization, Driving Concerns About Road Safety

FinancialBuzz.com News Commentary

Over the past decade, the cannabis market has undergone significant expansion, driven largely by a wave of legalization efforts across the United States and other parts of the world. As state and national governments reassess their legal stance on cannabis, both for medical and recreational use, the industry has seen a surge in legitimacy and economic interest. In the United States, a majority of states have legalized cannabis in some form, reflecting a shift in public opinion and an acknowledgement of the potential medical benefits and revenue generation opportunities. Globally, countries like Canada, Uruguay, and several European nations have moved towards more liberal cannabis policies, further propelling the market's growth. The financial implications of these legalization efforts are substantial and continue to evolve. According to a report by Grand View Research, the global legal cannabis market size was valued at USD 13.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 25.5% from 2022 to 2030. Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO), Cronos Group Inc. (NASDAQ: CRON), Canopy Growth Corporation (NASDAQ: CGC), Aurora Cannabis Inc. (NASDAQ: ACB), Curaleaf Holdings, Inc. (OTC: CURLF)

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×