Trulieve Ramps Up Operations In Arizona By way of Acquisition Of Tuscon-Primarily based PurpleMed Therapeutic Heart



Trulieve Hashish Corp. (CSE:TRUL) (OTCQX:TCNNF) introduced Tuesday that it is buying PurpleMed Therapeutic Heart in Tucson, Arizona.

What Occurred

The Tallahassee, Florida-based firm reported that the retail location at 1010 S Freeway in Tucson is being rebranded to Harvest Home of Hashish and can open on Wednesday, Dec. 29.

Consideration paid for the acquisition was deemed immaterial, the corporate disclosed.

What Does This Imply For Trulieve?

The acquisition expands the corporate’s retail footprint in Tuscon, including a “second location within the state’s second-largest market,” Kim Rivers, the corporate’s CEO stated. “We look ahead to serving sufferers and prospects at each of our Tucson-area areas and constructing robust relationships in the neighborhood.”

Trulieve-affiliated dispensary areas in Arizona embrace Avondale, Casa Grande, Chandler, Cottonwood, Glendale, Guadalupe, Lake Havasu, Mesa, Peoria, Phoenix, Scottsdale, Tempe and Tucson.

Trulieve & Harvest Merger

The two corporations adopted by way of with their beforehand introduced billion-dollar merger in October on the heels of Trulieve securing $350 million in financing by way of a non-public placement of 8% senior secured notes due 2026.

The mixed firm is poised to function a strong retail community of 149 dispensaries throughout 11 states and three strategic regional hubs. Trulieve has been rebranding Harvest Well being dispensaries following the closing of the merger.

Newer information from Trulieve:

TCNNF Value Motion

Trulieve’s shares traded at $26.8 per share at market shut on Monday.

Photograph: Courtesy of Scott Graham on Unsplash

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