Trulieve Files $750 Million Base Shelf Prospectus

Trulieve Cannabis Corp (CSE: TRUL) has filed a preliminary short form base shelf prospectus, valued at $750.0 million. While no financing has been announced, the base shelf prospectus enables the firm to conduct future financings for a 25 month period.

The prospectus enables the firm to raise funds via the issuance of a number of securities, including subordinate voting shares, debt securities, warrants, subscription receipts and units. In terms of potential use of proceeds, the company indicated that further details are to be provided at the time of the filing of a prospectus supplement.

The company did however outline potential uses, which may including funding ongoing operations, working capital requirements, and the standard general corporate purposes. Other potential uses outlined include the repayment of indebtedness, capital projects and potential future acquisitions.

The firm also outlined that as of January 11, 2021, the company currently has a share structure that consists of the following:

  • (i) 59,952,461 Subordinate Voting Shares;
  • (ii) 14,390.37 Multiple Voting Shares, and
  • (iii) 581,825 Super Voting Shares

Subordinate voting shares currently account for 95.84% of the voting rights outstanding currently, while multiple voting shares account for 2.30% of voting rights and super voting shares account for 1.86% of voting rights.

Trulieve Cannabis last traded at $56.80 on the CSE.

Information for this briefing was found via Sedar and Trulieve Cannabis Corp. 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.

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