Trulieve Cannabis Corp OTCMKTS: TCNNF is a vertically integrated “seed to sale” company and is the first and largest fully licensed cannabis company in the State of Florida. Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the State of Florida, as well as directly to patients via home delivery. Trulieve also operates in California and Massachusetts.
Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL.
Trulieve has also recnently on April 1st, 2019 has settled their challenge with the Florida Department of Health. Trulieve’s 14 dispensaries that were established before the statewide cap was enacted are now excluded from the statutory cap.
Trulieve and the Florida Department of Health reached a mutual settlement which specifies that only dispensaries approved after the statewide cap was enacted are counted in the cap calculation for Trulieve. Presently, the law limits the number of dispensaries a medical marijuana treatment center (“MMTC”) is allowed to open based on the number of active patients on the medical marijuana registry. These caps are in place until April 2020. Under this settlement Trulieve will be entitled to 14 dispensaries in addition to the authorized cap amount for as long as the cap remains in place.
“This is not a victory for Trulieve – it’s a victory for Florida’s patients. Our suit was first and foremost about patient access; working around the caps meant we had to build up a distribution model based on the statutorily-mandated geographic distribution instead of where patients live, effectively driving up costs and restricting patient access to the relief they need,” said Trulieve CEO Kim Rivers. “Thanks to this resolution, we will have the ability to open stores in locations where patients live, which will allow us to fulfill our goal of reaching every patient as efficiently, safely, and consistently as possible, including and especially those in more rural areas.”
The suit, filed by Trulieve in April of 2018, alleged that the statutory caps, which were established after Trulieve had been awarded a license to grow, cultivate, distribute, and sell medical cannabis in Florida, were unconstitutionally added after-the-fact and that such restrictive caps were never contemplated during the application and selection process.
In Judge Gievers’ original order, issued in February, she stated that “the evidence clearly and conclusively establishes beyond any doubt that the imposition of regional and statewide caps on the number of dispensaries for each licensed [medical marijuana treatment center] does not support Voter-Approved constitutional goals.”
Presently, Trulieve operates 26 dispensaries throughout the State of Florida, spanning from Pensacola to Miami. As part of the company’s mission to ensure safe, reliable access for patients statewide, Trulieve will continue opening dispensaries to conveniently serve patients’ medical needs.
The Company also has been making important press releases lately as on April 4th, 2019 Turlieve annouced it has signed an agreement with California-based Blue River Extracts & Terpenes™ (“Blue River™”) to bring their award-winning terpene extracts and other trademark branded products to Florida’s growing patient base.
Blue River™ is an industry-leading cannabis company that has focused on the development of full spectrum solvent-less cannabis derived terpenes and began utilizing terpenes with advanced mechanical extraction techniques to create an array of award winning branded products including, Rosin, Dry Sift Sap, Vape Cartridges, CBD Crystalline, Rosin Sauce, THCa, Flan™, and Jelly™, which earned them over 50 cannabis awards to date. Blue River™ continued to shape the landscape of the cannabis industry through their proprietary solvent-less extraction technology and helped to popularize full-spectrum solvent-less products with the use of cannabis derived terpenes.
“Blue River™ has truly set the standard for innovation and excellence with their terpene technology, creating products that are high-quality and one-of-a-kind. Their dedication to quality, excellence, and standardization has changed the landscape of the cannabis market and matches Trulieve’s own dedication to the same standards,” said Trulieve CEO Kim Rivers. “Their products are an effective, reliable option for patients seeking relief in innovative ways.”
Blue River™ uses a proprietary extraction method to mechanically remove present terpenoids and cannabinoids from whole plant cannabis flowers without the use of any chemicals, solvents, or additives. The process results in clean, terpene-rich, high-quality products that provide the full potential of the plants medicinal value. Once all regulatory approvals are obtained, a variety of Blue River™ terpene extracts, concentrates, and other products will be available exclusively in Florida through Trulieve. At this time, there can be no assurance as to the timing and scope of regulatory approval for the products, when and if it is obtained.
“Trulieve has an outstanding business model that relies on empowering diverse and gifted employees throughout the Florida market. Their attention to cultivation allows them to standardize high quality, indoor resin production, and in turn will allow for outstanding Blue River™ branded products. Trulieve has built a tremendous support system for Florida’s patients and I could not be more honored to work with them on this project,” said CEO Tony Verzura.