Trulieve Cannabis (CSE: TRUL) had an unusually small news release this morning. The company has announced the expansion of its operations in West Virginia, via a small-ticket transaction that has closed.
The transaction has seen the company acquire Solevo Wellness West Virginia for a figure of just $650,000. The acquisition effectively consists of three dispensary permits that were awarded in January. Locations are spread between Morgantown and Parkersburg, with the former consisting of two permits and the latter being just one.
The transaction brings Trulieve’s ultimate presence in the state to five, when taken in combination with the firms prior acquisition of Mountaineer Holding LLC within the state. In total, Trulieve now holds nin dispensary permits within West Virginia, along with cultivation and production permits.
Total consideration for the transaction consisted of $150,000 payable in cash, and $500,000 payable in Trulieve shares based on the ten day volume weighted average price of the equity.
Trulieve Cannabis last traded at $46.39 on the CSE.
Information for this briefing was found via Sedar, Canaccord Genuity and Trulieve Cannabis Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do