Trulieve Acquires PurpleMed Healing Center in Tucson

Rhea-AI Summary

Trulieve Cannabis Corp. (OTCQX: TCNNF) announces the acquisition of PurpleMed Healing Center in Tucson, Arizona. The dispensary will be rebranded as Harvest House of Cannabis and is set to reopen on Dec. 29, 2021. This location becomes Trulieve's 17th dispensary in Arizona, targeting both medical and recreational customers. The acquisition is deemed immaterial in financial terms, with limited initial operating hours. This expansion reflects Trulieve's strategy to increase its market presence in Arizona, particularly in Tucson, the state's second-largest market.

Positive

• Acquisition of PurpleMed Healing Center expands Trulieve's footprint in Tucson.
• The new location enhances market presence in Arizona's second-largest market.
• Trulieve will offer products to both medical patients and recreational customers.

Negative

• None.

Dispensary will reopen under Harvest House of Cannabis branding

TALLAHASSEE, Fla., Dec. 28, 2021 /PRNewswire/ - Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States, today announced the acquisition of PurpleMed Healing Center in Tucson, Arizona. Consideration paid for the acquisition was deemed immaterial.  Located at 1010 S Freeway in Tucson, the retail operation is being rebranded to Harvest House of Cannabis and will open Wednesday, Dec. 29 at noon.

The dispensary becomes the Company's 17^th in the state serving both medical patients and recreational customers. During the dispensary's first few weeks of operation, its hours will be limited to noon –  9:00 pm, with the permanent hours set for 8:00 am – 10:00 pm daily. 

"Trulieve is excited to expand our footprint in Tucson and add a second location in the state's second largest market," said Kim Rivers, CEO of Trulieve. "We look forward to serving patients and customers at both of our Tucson-area locations and building strong relationships in the community."

Trulieve-affiliated dispensary locations in Arizona include Avondale, Casa Grande, Chandler, Cottonwood, Glendale, Guadalupe, Lake Havasu, Mesa, Peoria, Phoenix, Scottsdale, Tempe and Tucson.

About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S. operating in 11 states, 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 Trulieve.com.

Facebook: @Trulieve
Instagram: @Trulieve_ 
Twitter: @Trulieve 

 

View original content:https://www.prnewswire.com/news-releases/trulieve-acquires-purplemed-healing-center-in-tucson-301451107.html

SOURCE Trulieve Cannabis Corp.

FAQ

What is the purpose of Trulieve's acquisition of PurpleMed Healing Center?

The acquisition aims to expand Trulieve's footprint in Tucson, Arizona, enhancing its market presence.

When will the PurpleMed Healing Center reopen as Harvest House of Cannabis?

The dispensary will reopen on Dec. 29, 2021, after rebranding.

How many dispensaries does Trulieve operate in Arizona after this acquisition?

With this acquisition, Trulieve operates 17 dispensaries in Arizona.

What are the initial operating hours for the new dispensary in Tucson?

Initially, the new dispensary will operate from noon to 9:00 pm during its first few weeks.

What market strategy is Trulieve implementing with this acquisition?

Trulieve's strategy focuses on increasing retail and distribution through its hub strategy, aiming for accelerated growth.