Florida Cannabis Firm Trulieve Proposes Debenture Units Offering


Trulieve Cannabis (CSE: TRUL) (OTC: TCNNF) has proposed an offering of its debenture units.

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Each unit will be comprised of one 9.75% senior secured note maturing in 2024 and a number of subordinate voting share purchase warrants of the company.

Canaccord Genuity is acting as the exclusive agent for the offering, which will be priced in the context of the market with the number of units, the issue price, the number of warrants and the total size of the offering to be determined at the time of entering into an agency agreement for the offering.

The company intends to use the net proceeds for capital expenditures, acquisitions and for general corporate purposes.

Largest Cannabis Firm in Florida

Trulieve is a vertically-integrated seed-to-sale firm. It touts itself as the first and largest fully licensed medical cannabis company in Florida.

The company cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores throughout Florida, as well as directly to patients via home delivery.

In addition to Florida, Trulieve also operates in California, Massachusetts, and Connecticut.

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