Trulieve Cannabis (CSE: TRUL) has finally completed the acquisition of Harvest Health (CSE: HARV). It was announced this morning that the Florida based operator has fully acquired all of the outstanding shares of Harvest.
The transaction saw the company issue 0.1170 of a share for each subordinate voting share held by a shareholder of Harvest. A total of 50.9 million shares of Trulieve were issued as a result.
With the closing of the transaction, Trulieve now has a sales channel consisting of a total of 149 dispensaries, which are spread across eleven states. The firm also holds leading positions in the states of Florida, Pennsylvania, and Arizona, while claiming that it is one of the most profitable multi state operators.
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The company also claims that post closing, on a combined basis, the company had the largest revenue figure in the second quarter of 2021 at $317.6 million. Of that figure, $215.1 million is attributable to the legacy Trulieve operations, while $102.5 million is attributable to harvest.
Shares of Harvest Health are currently slated to be delisted from the CSE on October 4, 2021.
Trulieve last traded at $34.46 on the CSE.
Information for this briefing was found via Sedar and Trulieve Cannabis. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
