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UK Non-Dom Exits Seen Hitting at Least 10%, With More to Come
UK Non-Dom Exits Seen Hitting at Least 10%, With More to Come

Bloomberg

time3 days ago

  • Business
  • Bloomberg

UK Non-Dom Exits Seen Hitting at Least 10%, With More to Come

At least 10% of the UK's wealthy non-dom population have left the country following tighter tax rules introduced by Prime Minister Keir Starmer's Labour government, according to a new report authored by a former Treasury economist. The estimate, based on an analysis of data from Henley & Partners on the decline in London's millionaire population in 2024, features in a report by Chris Walker, a former member of the government economic service and founder of consultancy Chamberlain Walker Economics. The report was commissioned by Andrew Barclay, an entrepreneur and policy fellow at the centre-right Onward think tank.

Benson Boone would sing at Tom Holland and Zendaya's wedding
Benson Boone would sing at Tom Holland and Zendaya's wedding

Yahoo

time27-05-2025

  • Entertainment
  • Yahoo

Benson Boone would sing at Tom Holland and Zendaya's wedding

Benson Boone would gladly sing at Tom Holland and Zendaya if he were asked. The actor and actress, both 28, met on the set of Marvel's 'Spider-Man: Homecoming' in 2016, and news of their engagement was confirmed after Zendaya flashed a big, sparkly diamond ring on her left ring finger at the Golden Globes in January this year. A date for the smitten couple's special day has not been confirmed, but Benson, 22, has said he is willing to perform at their ceremony when the time comes. The 'Beautiful Things' hitmaker told E! News at the American Music Awards: "Immediate yes. Of course! I'm not going to pass that up!" His comments come after he and Tom were recently spotted having lunch together, and Benson was full of praise for the star. Asked how Benson developed a relationship with the 'Onward' actor, he said: "Just word of mouth, and it got around. Yeah, he's a great human being." According to Tom's dad, Dominic Holland, his son had "everything planned out" for how he would pop the question. The 57-year-old author wrote in a post on the community-building platform Patreon in January: "He had purchased a ring. He had spoken with her father and gained permission to propose to his daughter. "Tom had everything planned out … When, where, how, what to say, what to wear… (sic)" Tom and Zendaya went public with their romance in 2021, and she has previously admitted that she feels "extra safe" whenever she works with him. The 'Dune: Part One' actress told Vanity Fair's 2025 Hollywood Issue: "It's actually strangely comfortable. It's like second nature, if anything. You feel extra safe with the person you're acting beside. I love working with him. "He's so talented, and so passionate about what he does. He always gives things 1,000 per cent, even if he's absolutely worn down. I really appreciate that about him. "It feels pretty normal. That's how we met. Literally, at a chemistry read." And Tom Googles Zendaya's name to "check" if she is OK. He shared with food recipe developer Samah Dada on the 'On the Menu' podcast: "The last thing I Googled was actually Zendaya. "I'm not on [social media], and I delete it when I'm not using it. So, sometimes, like, it's more of a bit of an anxiety thing, but I'll check to see if everything's good and to make sure we're all cool. "So I just give her a little Google and look [through] the news, and I'm like, 'She's good.'"

Onward Homes to take lead on Franklin LRT park-and-ride housing project
Onward Homes to take lead on Franklin LRT park-and-ride housing project

Calgary Herald

time14-05-2025

  • Business
  • Calgary Herald

Onward Homes to take lead on Franklin LRT park-and-ride housing project

Onward Homes will be the developer tasked with converting one of the park-and-ride lots at the Franklin LRT Station into housing. Article content Article content The developer, which was unveiled Wednesday at city hall, intends to build up to 350 housing units, ranging from one- to three-bedroom apartments, on the lot just south of Memorial Drive. Article content About half of those units will be for below-market rates, catering to seniors, low-income families and tenants with disabilities, said Bryan Romanesky, chair of Onward Homes' board of directors. He added that Onward works with more than 30 service partners to support its most vulnerable tenants. Article content Article content What attracted Onward to the project, Romanesky said, was the site's proximity to Calgary's downtown, as well as other nearby amenities, which include two schools and Marlborough Mall. Article content Article content 'Our clients generally don't have a car, so we always try to select sites that will give them the opportunity to walk to grocery stores, appointments and so on,' he said. 'A transit site just opens up the door for them to reach the whole city, just in their doorstep.' Article content Conceptual design of the future housing site, which will have a maximum height of six storeys, is underway. Site planning and public consultation will continue through this year, Romanesky said, with hopes for construction to start in May 2026. He declined to speculate when the housing would come online, however. Article content 'We'll keep going here as fast as we can,' he said. 'Hopefully we'll be able to provide those units as soon as possible.' Article content Article content The project will be supported by $9.5 million from Calgary's allotment of the federal Housing Accelerator Fund. Article content Mayor Jyoti Gondek touted the city's housing strategy, which includes a directive to leverage city-owned land for housing initiatives, in accelerating the transit-oriented development (TOD) project. Article content The Franklin project will be the city's first attempt at redeveloping a CTrain park-and-ride lot into housing. The development also includes public safety improvements along adjacent Radcliffe Drive S.E. and investments to a public park in Albert Park/Radisson Heights. Article content 'Franklin Station was chosen because it has the ability to connect people to opportunity, to community and to each other,' Gondek said. 'It will not only bring new homes, but it will also bring upgrades to public spaces, to pedestrian pathways and transit connections to create a safe, vibrant and walkable neighbourhood.'

Action News Jax Investigates: The buzz and controversy around THC-infused beverages
Action News Jax Investigates: The buzz and controversy around THC-infused beverages

Yahoo

time12-05-2025

  • Business
  • Yahoo

Action News Jax Investigates: The buzz and controversy around THC-infused beverages

THC beverages are quickly growing in popularity, estimated to become a $4 billion industry in three short years. Action News Jax Investigates learned the buzz behind the beverages comes with a mix of confidence, controversy, and concern. We were able to stop by an ABC Fine Wine & Spirits in St. Johns to check out drinks infused with THC. There was a large variety of drinks and flavors. The drinks also noted they contained zero alcohol. In fact, many THC beverages are marketed as an alternative to alcohol. Gina Collins is the Chief Marketing Officer for cannabis company Trulieve. 'We are seeing for the first time, at least in my lifetime, younger generations move away from alcohol. And so with that, I think that the THC beverage space is filling that gap,' Collins said. In February, Trulieve launched its own beverage line called Onward, made with THC and CBD. 'People are looking for a more functional way to unwind that meets their health and wellness goals at the same time,' Collins said. The drinks we found at ABC contain 'hemp-derived' Delta-9 THC. Delta-9 THC is the primary psychoactive compound in cannabis plants that makes you feel 'high' or relaxed. The 2018 federal Farm Bill defined hemp as any part of the cannabis plants with less than 0.3% Delta-9 THC by dry weight. While the FDA has not approved THC or CBD to be added to food or sold as dietary supplements, the Farm Bill legalized hemp and products made from it. That led to a surge of THC products and beverages hitting the market. Ellen Snelling is the Hillsborough County Anti Drug Alliance Board Chair. 'All of these hemp products, they're THC to me. This whole hemp industry with the intoxicating cannabinoids, it seems like it's a backdoor to recreational legalization,' Snelling said. Snelling has spent years pushing Florida lawmakers to crack down. 'I would rather see all of these products, honestly, under the medical marijuana system because it's well-regulated, everything's tested in a lab, we feel much more confident of what these products are,' Snelling said. Recent hemp regulation bills in the Florida House and Senate that included putting caps on the amount of THC allowed in drinks and restrictions on where it could be sold, didn't make it out of session. Another concern: colorful packaging and fruity flavors possibly appealing to kids. Dr. Dawn Sollee is director of the Florida Poison Information Center and says her team has taken calls about children drinking THC beverages. 'They might get wobbly, they would be uncoordinated, they might fall, things like that. If they happen to get into some of the other products or drink more of them, then we start worrying about, especially in children, that it can even progress to seizures,' Sollee said. Sollee said her agency does not pick sides in the THC debate. Instead, their focus is on educating the public to make sure adults are storing and consuming products responsibly. 'The main goal is try and keep it out of their reach. And the other thing is with adults, when they're using a product, a child, a lot of times they'll try and imitate them. So if they see you drinking the product, that's going to make them want to go and drink it too. So if you can, try and not consume the product in front of them,' Sollee said. [DOWNLOAD: Free Action News Jax app for alerts as news breaks] Manufacturers recommend adults who want to try THC-infused drinks start with a low dose and pace themselves. That's because the milligrams of THC per serving can vary between products and the effects can kick in anywhere from 10 minutes to a couple of hours. 'The key is patience and learning for yourself. 'Cause it really will impact everyone differently, and it's a personal choice of where you want the balance to be,' Collins said. 'It's such a new product, there's not enough research on it. People don't know what to expect, but it can have adverse effects, especially on your, like I said, your heart rate and impairment levels and possibly mental health effects,' Snelling said. [SIGN UP: Action News Jax Daily Headlines Newsletter] In this new frontier of adult beverages, it's up to customers to get informed and determine if they want to skip or sip. 'Make sure that they're researching the products, know where the, what the ingredients are, where they're coming from, and really sticking to that mindset of I'm gonna do, I'm gonna educate myself and learn how my body reacts to this,' Collins said. Collins said Trulieve uses a third-party lab to batch test its products and posts those results online. In the meantime, Snelling is amping up her education of parents and teachers when it comes to THC drinks and plans to keep fighting for tougher laws in Florida. Click here to download the free Action News Jax news and weather apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action News Jax live.

Trulieve Reports First Quarter 2025 Results Demonstrating Core Business Strength
Trulieve Reports First Quarter 2025 Results Demonstrating Core Business Strength

Cision Canada

time07-05-2025

  • Business
  • Cision Canada

Trulieve Reports First Quarter 2025 Results Demonstrating Core Business Strength

First quarter revenue of $298 million, with 62% gross margin Cash flow from operations of $51 million and free cash flow of $34 million* 4/20 holiday season units sold and traffic increased 20% and 9%, respectively, year over year TALLAHASSEE, Fla., May 7, 2025 /CNW/ -- Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced its results for the quarter ended March 31, 2025. Results are reported in U.S. dollars and in accordance with U.S. Generally Accepted Accounting Principles unless otherwise indicated. Numbers may not sum perfectly due to rounding. Q1 2025 Financial and Operational Highlights* Revenue of $298 million increased slightly year over year, with 95% of revenue from retail sales. Achieved gross margin of 62% versus 58% last year, with GAAP gross profit of $183 million. Reported net loss attributable to common shareholders of $33 million. Adjusted net loss of $3 million* excludes non-recurring charges, asset impairments, disposals and discontinued operations. Achieved adjusted EBITDA of $109 million*, or 37% of revenue, up 3% year over year. Generated cash flow from operations of $51 million and free cash flow of $34 million*. Cash at quarter end was $329 million. Rewards program members reached over 625,000 members as of March 31, 2025. Loyalty members accounted for 68% of transactions during the first quarter. Launched Onward, a premium, non-alcoholic THC beverage available for purchase by consumers 21 years and older at select retail locations in Florida or ordered via for direct shipment to 36 states. Opened six dispensaries in Maricopa, Arizona; Middleburg, North Miami Beach, and Palm Coast, Florida; and Columbus and Zanesville, Ohio. Relocated one dispensary to Lancaster, Pennsylvania. *See "Non-GAAP Financial Measures" below for additional information and a reconciliation to GAAP for all Non-GAAP metrics. 4/20 holiday season units sold and traffic increased 20% and 9%, respectively versus last year. Opened one new retail location in St. Petersburg, Florida. Currently operate 229 retail dispensaries and over four million square feet of cultivation and processing capacity in the United States. "Strong margins and cash flow achieved in the first quarter clearly demonstrate our commitment to operational excellence," said Kim Rivers, Trulieve CEO. "With our loyal customer base, branded products, and efforts to drive cannabis reform, Trulieve stands out as an industry leader." Financial Highlights* Results of Operations For the Three Months Ended (Figures in millions except per share data) March 31, 2025 March 31, 2024 % Better / (Worse) December 31, 2024 % Better / (Worse) Revenue $ 298 $ 298 — % $ 301 (1 %) Gross profit $ 183 $ 174 5 % $ 187 (2 %) Gross margin % 62 % 58 % 62 % Operating expenses $ 150 $ 128 (17 %) $ 186 19 % Operating expenses % 50 % 43 % 62 % Net loss** $ (33) $ (23) (42 %) $ (60) 45 % Net loss continuing operations $ (32) $ (23) (37 %) $ (60) 47 % Adjusted net (loss) income $ (3) $ (10) 67 % $ 3 NMF Basic and diluted shares outstanding 191 189 190 EPS continuing operations $ (0.16) $ (0.16) (1 %) $ (0.26) 37 % Adjusted EPS $ (0.02) $ (0.05) 67 % $ 0.02 NMF Adjusted EBITDA $ 109 $ 106 3 % $ 111 (2 %) Adjusted EBITDA Margin % 37 % 36 % 37 % NMF - No Meaningful Figure *See "Non-GAAP Financial Measures" below for additional information and a reconciliation to GAAP for all Non-GAAP metrics. **Net loss attributable to common shareholders which excludes non-controlling interest. Conference Call The Company will host a conference call and live audio webcast on May 7, 2025, at 8:30 A.M. Eastern time, to discuss its first quarter 2025 financial results. Interested parties can join the conference call by dialing in as directed below. Please dial in 15 minutes prior to the call. A live audio webcast of the conference call will be available at: A powerpoint presentation and archived replay of the webcast will be available at: Trulieve Cannabis Corp. Condensed Consolidated Statements of Operations (Unaudited) (in millions, except for share data) Three Months Ended March 31, 2025 2024 Revenue $ 297.8 $ 297.6 Cost of goods sold 114.5 123.8 Gross profit 183.2 173.8 Expenses: Selling, general, and administrative 118.8 101.3 Depreciation and amortization 29.3 27.8 Impairment and disposal of long-lived assets, net of (recoveries) 1.8 (1.4) Total expenses 149.9 127.7 Income from operations 33.3 46.1 Other income (expense): Interest expense, net (16.3) (14.7) Interest income 3.1 3.3 Other income (expense), net 0.2 (2.7) Total other expense, net (13.0) (14.2) Income before provision for income taxes 20.3 31.9 Provision for income taxes 52.5 55.4 Net loss from continuing operations (32.1) (23.5) Net loss from discontinued operations, net of $0 tax benefit (1.6) (1.4) Net loss (33.8) (24.8) Less: net loss attributable to non-controlling interest from continuing operations (0.9) (1.8) Net loss attributable to common shareholders $ (32.9) $ (23.1) Earnings Per Share Net loss per share - Continuing operations: Basic and diluted $ (0.16) $ (0.16) Net loss per share - Discontinued operations: Basic and diluted $ (0.01) $ (0.01) Weighted average number of common shares used in computing net loss per share: Basic and diluted 191.1 189.5 Three Months Ended March 31, 2025 2024 Cash flows from operating activities Net loss $ (33.8) $ (24.8) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 29.3 27.8 Depreciation included in cost of goods sold 13.9 13.5 Impairment and disposal of long-lived assets, net of (recoveries) 1.8 (1.4) Share-based compensation 3.9 5.2 Deferred income taxes (4.7) 10.0 Other non-cash changes 5.0 6.1 Changes in operating assets and liabilities: Inventories (7.9) 3.5 Accounts receivable (2.6) 1.5 Other assets (8.4) (1.4) Accounts payable and accrued liabilities (0.2) 1.0 Income tax receivable / payable 1.4 2.7 Other liabilities (2.7) (3.6) Uncertain tax position liabilities 55.7 97.6 Proceeds received from insurance for operating expenses — 1.5 Net cash provided by operating activities 50.7 139.2 Cash flows from investing activities Purchases of property and equipment (16.9) (15.5) Purchases of internal use software (3.9) (5.0) Maturities of short-term investments 60.4 — Other proceeds 4.0 1.5 Other purchases and payments (0.2) — Net cash provided by (used in) investing activities 43.4 (19.0) Cash flows from financing activities Payments on long-term borrowings (1.9) (1.7) Payments for taxes related to net share settlement of equity awards (0.2) — Proceeds from equity exercises — 0.2 Other payments and distributions (2.4) (3.0) Other proceeds — 3.0 Net cash used in financing activities (4.5) (1.6) Net increase in cash, cash equivalents, and restricted cash 89.6 118.6 Cash, cash equivalents, and restricted cash, beginning of period 239.7 208.0 Cash and cash equivalents of discontinued operations, beginning of period — 0.3 Less: cash and cash equivalents of discontinued operations, end of period — — Cash, cash equivalents, and restricted cash, end of period $ 329.4 $ 326.9 The consolidated statements of cash flows include continuing operations and discontinued operations for the periods presented. Non-GAAP Financial Measures (Unaudited) In addition to our results determined in accordance with GAAP, we supplement our results with non-GAAP financial measures, including EBITDA, adjusted EBITDA, EBITDA margin, adjusted EBITDA margin, adjusted net (loss) income, adjusted net (loss) income per diluted share, and free cash flow. The Company calculates EBITDA as net income (loss) before net interest expense, interest income, income tax expense, depreciation and amortization; adjusted EBITDA as net income (loss) before net interest expense, interest income, income tax expense, depreciation and amortization and also excludes certain extraordinary items; EBITDA margin as EBITDA as % of revenue; adjusted EBITDA margin as adjusted EBITDA as % of revenue; adjusted net income (loss) as net income (loss) less certain extraordinary items; adjusted EPS as adjusted net income (loss) divided by basic and diluted shares outstanding; and free cash flow as cash flow from operations less capital expenditures. Our management uses these non-GAAP financial measures in conjunction with GAAP financial measures to evaluate our operating results and financial performance. We believe these measures are useful to investors as they are widely used measures of performance and can facilitate comparison to other companies. These non-GAAP financial measures are not, and should not be considered as, measures of liquidity. These non-GAAP financial measures have limitations as analytical tools in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP. Because of these limitations, these non-GAAP financial measures should be considered along with GAAP financial performance measures. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. A reconciliation of the non-GAAP financial measures to such GAAP measures can be found below. These non-GAAP financial measures should be considered supplemental to, and not a substitute for, our reported financial results prepared in accordance with GAAP. The following table presents a reconciliation of GAAP net loss attributable to common shareholders to non-GAAP EBITDA and Adjusted EBITDA for each of the periods presented: (Amounts expressed in millions of United States dollars) Three Months Ended March 31, 2025 March 31, 2024 December 31, 2024 Net loss attributable to common shareholders $ (32.9) $ (23.1) $ (59.8) Add (deduct) impact of: Interest expense, net $ 16.3 $ 14.7 $ 14.6 Interest income $ (3.1) $ (3.3) $ (3.2) Provision for income taxes $ 52.5 $ 55.4 $ 47.6 Depreciation and amortization $ 29.3 $ 27.8 $ 28.6 Depreciation included in cost of goods sold $ 13.9 $ 13.5 $ 13.5 EBITDA (Non-GAAP) $ 76.0 $ 85.0 $ 41.3 EBITDA Margin (Non-GAAP) 26 % 29 % 14 % Impairment and disposal of long-lived assets, net of (recoveries) $ 1.8 $ (1.4) $ (0.9) Campaign and political contributions $ 23.0 $ 9.2 $ 54.8 Acquisition, transaction, and other non-recurring costs $ 3.1 $ 3.7 $ 7.6 Share-based compensation $ 3.9 $ 5.2 $ 4.6 Other (income) expense, net $ (0.2) $ 2.7 $ 2.8 Discontinued operations, net of tax, attributable to common shareholders $ 1.6 $ 1.4 $ 1.1 Adjusted EBITDA (Non-GAAP) $ 109.2 $ 105.8 $ 111.4 Adjusted EBITDA Margin (Non-GAAP) 37 % 36 % 37 % Reconciliation of Non-GAAP Adjusted Net (Loss) Income (Unaudited) The following table presents a reconciliation of GAAP net loss attributable to common shareholders to non-GAAP adjusted net (loss) income, for each of the periods presented: For the Three Months Ended (Amounts expressed in millions of United States dollars) March 31, 2025 March 31, 2024 December 31, 2024 Net loss attributable to common shareholders $ (32.9) $ (23.1) $ (59.8) Net loss from discontinued operations, net of tax, attributable to common shareholders $ 1.6 $ 1.4 $ 1.1 Adjustment of formerly redeemable non-controlling interest to maximum redemption value $ — $ (8.8) $ 9.0 Net loss from continuing operations available to common shareholders $ (31.2) $ (30.6) $ (49.7) Add (deduct) impact of: Adjustment of formerly redeemable non-controlling interest to maximum redemption value $ — $ 8.8 $ (9.0) Impairment and disposal of long-lived assets, net of (recoveries) $ 1.8 $ (1.4) $ (0.9) Campaign and political contributions $ 23.0 $ 9.2 $ 54.8 Acquisition, transaction, and other non-recurring costs $ 3.1 $ 3.7 $ 7.6 Adjusted net (loss) income (Non-GAAP) $ (3.4) $ (10.2) $ 2.9 Reconciliation of Non-GAAP Adjusted Net (Loss) Income Per Diluted Share (Unaudited) The following table presents a reconciliation of GAAP net loss attributable to common shareholders per share to non-GAAP adjusted net (loss) income per diluted share, for each of the periods presented: For the Three Months Ended (Amounts expressed are per share except for shares which are in millions) March 31, 2025 March 31, 2024 December 31, 2024 Net loss attributable to common shareholders $ (0.17) $ (0.12) $ (0.31) Net loss from discontinued operations, net of tax, attributable to common shareholders $ 0.01 $ 0.01 $ 0.01 Adjustment of formerly redeemable non-controlling interest to maximum redemption value $ — $ (0.05) $ 0.05 Net loss from continuing operations available to common shareholders $ (0.16) $ (0.16) $ (0.26) Add (deduct) impact of: Adjustment of formerly redeemable non-controlling interest to maximum redemption value $ — $ 0.05 $ (0.05) Impairment and disposal of long-lived assets, net of (recoveries) $ 0.01 $ (0.01) $ (0.00) Campaign and political contributions $ 0.12 $ 0.05 $ 0.29 Acquisition, transaction, and other non-recurring costs $ 0.02 $ 0.02 $ 0.04 Adjusted net (loss) income (Non-GAAP) $ (0.02) $ (0.05) $ 0.02 Basic and diluted shares outstanding 191.1 189.5 190.0 Reconciliation of Non-GAAP Free Cash Flow (Unaudited) The following table presents a reconciliation of GAAP cash flow from operating activities to non-GAAP free cash flow, for each of the periods presented: Forward-Looking Statements This news release includes forward-looking information and statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation (collectively herein referred to as "forward-looking statements"). These forward-looking statements relate to the Company's expectations or forecasts of business, operations, financial performance, cash flows, prospects, and other plans, intentions, expectations, estimates, and beliefs and include statements regarding the Company's 2025 objectives, growth opportunities, and positioning for the future. Words such as "expects", "continue", "will", "anticipates" and "intends" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the Company's current projections and expectations about future events and financial trends that management believes might affect its financial condition, results of operations, business strategy and financial needs, and on certain assumptions and analysis made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate. Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein, including, without limitation, the risks discussed under the heading "Risk Factors" in our most recent Annual Report on Form 10-K and in our periodic reports subsequently filed with the United States Securities and Exchange Commission and in the Company's filings on Although the Company believes that any forward-looking statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such statements, there can be no assurance that any such forward-looking statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking statements. Any forward-looking statements herein are made as of the date hereof and, except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking statements herein, whether as a result of new information, future events or results, or otherwise. About Trulieve Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with leading market positions in Arizona, Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Investor Contact Christine Hersey, Vice President of Investor Relations +1 (424) 202-0210 [email protected] Media Contact Phil Buck, APR, Corporate Communications Manager +1 (406) 370-6226 [email protected] SOURCE Trulieve Cannabis Corp.

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