Trulieve Cannabis Corp (CSE: TRUL) this morning announced the filing of a resale registration statement on Form S-1 with the United States Securities and Exchange Commission. Originally filed last night, the filing brought confusion to many retail investors whom were uncertain on what the filing pertained to.
The company this morning elected to provide clarity to those whom caught the notice, indicating that the filing effectively makes the company a U.S. reporting company upon it becoming effective. Trulieve further confirmed that no subordinate voting shares are being sold under the registration statement.
Effectively, the filing was required by the firm as it transitions from a Canadian-based operator to that of a US-based operator. With the firm having such a large proportion of US shareholders, it was required for the transition to occur, while the firm will also be changing from IFRS reporting standards to that of US GAAP in its oncoming financial results.
Trulieve Cannabis last traded at $53.00 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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.