Trulieve Announces Closing of $18.9 Million Financing

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 closing of a commercial loan secured by a cultivation and manufacturing facility located in West Virginia for aggregate gross proceeds of $18.9 million . Trulieve will pay interest at a fixed rate of 7.3% for the first five years of the ten-year loan. After five years, the rate resets at five-year Treasury plus 3.5% for the remainder of the loan. The Company may prepay the loan with cash from operations with no prepayment penalties at any time. The Company intends to use the net loan proceeds for general corporate purposes.

"We are pleased to announce our second non-dilutive financing this month," said Trulieve Chief Executive Officer, Kim Rivers . "This financing at attractive terms further bolsters our cash position as we enter 2023."

About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with established hubs in the Northeast, Southeast, and Southwest, anchored by 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
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Twitter: @Trulieve

Investor Contact  
Christine Hersey , Executive Director of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com

Media Contact  
Rob Kremer , Executive Director of Corporate Communications
+1 (404) 218-3077
Robert.Kremer@Trulieve.com

Forward-Looking Information
This news release includes forward-looking information and statements within the meaning of the Private Securities Litigation Reform Act of 1995, which may include, but are not limited to, ‎information and statements regarding the intended use of the net proceeds of the financing, 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 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 discussed under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2021 and in our periodic reports subsequently filed with the United Sates Securities and Exchange Commission and in the Company's filings on SEDAR at www.sedar.com , including the Company's Management's Discussion and Analysis for the three and nine months ended September 30, 2022 , and 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.

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SOURCE Trulieve Cannabis Corp.

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