Trulieve Announces Closing of Underwritten Offering of Subordinate Voting Shares

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) is a leading and top-performing cannabis company in the United States. The company announces that it has closed its previously announced underwritten offering of 4,715,000 subordinate voting shares of the Company at a price of C$24.50 per Offered Security, for aggregate gross proceeds to Trulieve of C$115,517,500, which includes the full exercise of the over-allotment option by the underwriters.

Trulieve is a vertically integrated “seed-to-sale” company 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 and Connecticut. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX Best Market under the symbol TCNNF.

Canaccord Genutiy Corp. acted as lead underwriter for the Offering, alongside a syndicate of underwriters, including Beacon Securities Limited, Cormark Securities Inc., Echelon Wealth Partners Inc., and PI Financial Corp.

The Offered Securities were offered in each of the Provinces of Canada, other than the Province of Québec, pursuant to a prospectus supplement to the Company’s base shelf prospectus dated May 14, 2019, in the United States on a private placement basis pursuant to applicable exemptions from the registration requirements of the United States Securities Act of 1933, as amended and elsewhere on a private placement basis.

Net proceeds from the Offering are expected to be used primarily to fund Trulieve’s business development and for general working capital purposes. The Company has made the required filings to list the Offered Securities on the Canadian Securities Exchange.‎