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Continued Growth Boosts Trulieve Cannabis Corp. (OTCMKTS: TCNNF)

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Trulieve Cannabis Corp. (OTCMKTS: TCNNF) continues to be one of the top most traded stocks on the OTCQB. They say hard times separates the winners from the losers and Trulieve has clearly emerged as a major winner among cannabis stocks. While the rest of the market has generally collapsed, several winners such as Trulieve have retained their value.

Microcapdaily has been reporting on Trulieve for years first reporting on October 2, 2018 – Trulieve Cannabis Corp. recently went public via a reverse merger with schyan exploration. The stock trades as TRUL in Canada and TCNNF in the US. Trulieve Cannabis is a really exciting Company and it has quickly attracted a growing shareholder base who believes this one goes much higher. Trulieve is quickly establishing itself as a major player in the booming cannabis space responsible for many, many huge recent winners. The sector is on fire as we near legal recreational cannabis in Canada on October 17.

Trulieve Cannabis Corp. (CSE: TRUL) (OTCMKTS: TCNNF) bills itself as 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 market under the symbol TCNNF. Currently the Company operates 47 nationwide Trulieve dispensaries, 45 of which are in Florida.

On February 14 Truelieve announced it will be opening the doors of a new Florida dispensary on Saturday, February 15th. The Stuart location makes a record 45 locations in the state of Florida and 47 nationwide for Trulieve. The Stuart dispensary, located on Northwest Federal Highway, supports the company’s mission to expand and ensure safe, reliable patient access statewide. It joins the Company’s 44 other dispensaries statewide, bringing expanded access to patients on Florida’s Atlantic Coast.

CEO Kim Rivers stated: “Over the past year, we’ve really focused on creating elevated, educated, and excellent customer-centric experiences. Part of Trulieve’s core mission is to ensure that patients across the state of Florida are able to access the medications that they’ve come to rely on and that includes opening in places where patients are located. We are looking forward to introducing direct access to patients in the Atlantic Coast market. Whether a patient is taking their first steps into medical cannabis or they are a dedicated Truliever, our well-trained staff in Stuart is ready and willing to assist patients during every step of the process.”

 

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The big story is the incredible numbers Trulieve continues to put out – on November 18 Trulieve reported its financial results for the third quarter of 2019 ended September 30, 2019. Record revenue of $70.7 million, an increase of 22% on a sequential quarter-to-quarter basis.

Trulieve CE Kim Rivers stated: “Our third quarter results reflect our continued customer loyalty, growth, and leadership position. Trulieve’s strong brand, wide-ranging access to stores, and authentic customer experience have resonated with our customers and patients. The third quarter was also successful in further strengthening our position in our existing markets as well as preparing for new market entry. We continue to build operational efficiencies and financial discipline to ensure a solid foundation, cash reserves, and the right tools at our disposal to expand our footprint. Looking ahead, this is an exciting time as we execute on our strategic vision to be one of the top performing cannabis companies in North America.”

the CEO of Trulieve is Kim Rivers. Prior to Trulieve, Ms. Rivers spent several years in private practice as a lawyer where she specialized in mergers, acquisitions, and securities for multi-million dollar companies and has run a number of successful businesses from real estate to finance. Her experience has been instrumental in building Trulieve’s market leading position in its home state of Florida and provides the solid foundation on which to execute on growth and expansion initiatives as a multi-state operator. Ms. Rivers also plays an active role in her community in addition to serving on numerous charitable boards. She received her Bachelor’s degree in Multinational Business and Political Science from Florida State University, where she also served as FSU’s student body President, and her Juris Doctorate from the University of Florida.

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Trulieve Cannabis is an exciting Company and the first and largest fully licensed medical cannabis company in the State of Florida. The Company currently has 45 retail locations open with current cultivation capacity of approximately 1.6 million square feet which includes large scale greenhouses, previously reported as experimental, which were added as a cost effective and highly efficient alternative to expand oil biomass capacity. Trulieve is the leader in the Florida medical cannabis market which is expected to grow rapidly and exceed $1 billion by 2020. We will be updating on Trulieve when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Trulieve.

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Disclosure: we hold no position in Trulieve either long or short and we have not been compensated for this article.

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