Trulieve Acquires 64,000 sq. ft. Cultivation Facility in Phoenix – QNT Press Release

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TALLAHASSEE, Fla., Feb. 15, 2022 /PRNewswire/ — Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company in the US, today announced it has completed the acquisition of an operational 64,000 sq. ft. cultivation facility in Phoenix, Arizona. Trulieve will pay $13.75 million cash at closing, with potential milestone payments subject to earn-out and escrow requirements.

“We are excited to close this acquisition which is in line with our strategic priorities,” said Kim RiversCEO of Trulieve. “The facility strengthens Trulieve’s presence in the cornerstone market of our Southwest hub, as well as expands our cultivation capacity. We look forward to serving more patients and customers throughout Arizona with our high-quality, proprietary brands.”

The new cultivation facility immediately improves supply chain capacity and becomes Trulieve’s fifth cultivation facility in Arizonasupporting Trulieve’s 17 dispensaries in the state of Arizona with …

Full story available on Benzinga.com

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