Trulieve Announces Closing of Second Non-dilutive Financing of $18.9 Million for General Corporate Purposes

Trulieve Announces Closing of $18.9 Million Financing

TALLAHASSEE, Fla., Dec. 22, 2022 /CNW/ — 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

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.

Original Press Release

Published by NCV Newswire

The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.