Approval from the courts has been granted to Harvest Health (CSE: HARV) in relation to its acquisition by Trulieve Cannabis Corp (CSE: TRUL). The final order approving the arrangement was granted by the Supreme Court of British Columbia.
With court approvals now out of the way, the two firms are one step closer to merging into what will reportedly become the worlds most profitable multi-state operator. Upon closing, the combined entity will have operations in a total of 11 states along with 140 dispensaries across its network.
Commenting on the approval, Trulieve CEO Kim Rivers stated, “Following Harvest’s strong Q2 performance and the recent shareholder vote in support of the transaction, we are closer than ever to completing this transformational event for Trulieve and the cannabis industry.”
Now that court approval has been granted, the two firms will need to continue to work through regulatory approvals to close the proposed arrangement. A firm closing date has not been provided by either of the entities, with no guidance provided on the expected timelines for regulatory approvals.
The court approval follows Harvest Health shareholders last week approving the transaction.
Trulieve Cannabis last traded at $35.50 on the CSE.
Information for this briefing was found via Sedar and Harvest Health. 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.
