Trulieve Cannabis Corp. (“Trulieve” or the “Company”) (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States, today announced the completion of an asset purchase agreement whereby Trulieve acquired a licensed adult use dispensary location from Nature’s Remedy of Massachusetts, Inc. in Worcester, MA.
Total consideration for the transaction was $13.5 million, satisfied through the payment of $7,000,000 in cash and the issuance of 237,881 subordinate voting shares of the Company (the “Trulieve Shares”). Shares are based on a volume-weighted average price of Common Shares for each trading day during the ten (10) consecutive trading days immediately preceding the Agreement Date. The acquired location possesses a Final Adult Use Marijuana Retailer License from the Cannabis Control Commission, a Host Community Agreement from the City of Worcester, and other necessary government authorizations to operate as a marijuana dispensary at 142-148 Southbridge Street in Worcester, Massachusetts.
Kim Rivers, Trulieve CEO stated, “We are excited to open our second Massachusetts location in Worcester allowing us to broaden the Trulieve platform in the state. This location will allow us to continue rolling out our expanded portfolio of products in Massachusetts including our newly launched Sweet Talk edibles line and Muse premium vape and concentrates line while providing industry-leading customer service including our no-questions-asked exchange and return policy. As we approach our first harvest, we are excited to bring a fresh assortment of quality genetics to the market and look forward to also offering clones for sale in our locations in the very near future.”
For more information on Trulieve’s Massachusetts products and stores visit https://www.trulieve.com/dispensaries/massachusetts.