Plan your work & work your plan: Trulieve Expands C-Suite, Legal and Government Affairs Teams to Support Explosive Growth March 15, 2021 at 5:10 PM EDT
Trulieve Promotes Eric Powers to Chief Legal Officer and Appoints Ronda Sheffield to Chief Human Resources Officer, Zachary Kobrin to General Counsel, Aaron Lopez to Director Government Affairs
TALLAHASSEE, Fla., March 15, 2021 /PRNewswire/ - Trulieve Cannabis Corp (CSE: TRUL) (OTC: TCNNF) ("Trulieve" or the "Company"), a leading and top-performing cannabis company in the United States, today announced the promotion of Eric Powers to Chief Legal Officer, and the appointments of Ronda Sheffield to Chief Human Resources Officer, Zachary Kobrin to General Counsel, and Aaron Lopez to Director Government Affairs effective March 15, 2021. Building out Trulieve's legal and human resources infrastructure and government affairs practice empowers the Company to meet growth more effectively.
"Eric's leadership of our legal team has been instrumental in Trulieve's continued success. With the addition of Ronda, Zack and Aaron, we are ideally positioned to drive and support Trulieve's growth initiatives and execute on our national expansion strategy as one of the largest and most trusted cannabis brands," said Kim Rivers, CEO of Trulieve. "I look forward to working with our experienced and proven leadership team as we continue to deliver the quality cannabis products and exceptional customer service that Trulieve is renowned for."
For the last two years, Eric Powers has served as Trulieve's General Counsel and Corporate Secretary, leading the legal team and supporting Trulieve's national expansion. As CLO, Powers will focus strategically on Trulieve's shift to national expansion. He has more than 25 years of broad legal experience through his work in corporate and tax law, both in-house and private practice. Prior to joining Trulieve, Powers served as Vice President and Corporate Secretary for a >$1 billion revenue publicly-traded insurance company.
As a human resources executive for more than 20 years, Ronda Sheffield brings extensive experience leading organizational transformations. Most recently the Chief Human Resources Officer for ModWash, Sheffield has held HR leadership positions for top corporations including Lowe's Home Improvement, Sprint Wireless, Starbucks Coffee Company, and Walmart Stores—where she led the HR functions for both the corporate and retail divisions. She is particularly skilled and experienced in organizational development, diversity and inclusion, leadership coaching and development, staffing, employment law, talent management, succession planning, and employee relations. Sheffield is a member of the USA CHRO Executive Committee and SHRM Atlanta.
Zack Kobrin was a partner with Akerman LLP, where he was a leader in the firm's nationally recognized cannabis practice group. Prior to Akerman, Zack was the General Counsel and Chief Compliance Officer for a multi-state cannabis company and is considered an expert in cannabis and hemp law matters. In his prior capacity, Kobrin advised a number of entities on corporate, business development and formation, as well as, legal, regulatory, and compliance matters in the cannabis and hemp industry throughout the United States and emerging international markets. Additionally, he advised clients on developing federal and state public policy matters, as well as banking and insurance issues impacting the cannabis and hemp industry. Amongst his many honors and distinctions, Kobrin was appointed to the Florida Medical Cannabis Advisory Committee by the Florida Commissioner of Agriculture & Consumer Services, where he serves as its co-chair.
Aaron Lopez joins as Trulieve's first Director of Government Affairs. Prior to joining Trulieve, Lopez was the founder of Political Capital LLC, which has worked with leading clients in multiple industries to provide insight and a voice in the legislative and political processes at international, federal, and state levels. He has served as head of government affairs across various industries including pharmaceutical, hospitality, oil and gas, and financial services. For the past five years, Lopez has worked with state agencies and legislators in Virginia and West Virginia on the creation of medical cannabis laws.
About Trulieve
Trulieve is primarily a vertically integrated "seed-to-sale" company in the U.S. and is the first and largest fully licensed medical 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 is also licensed operator in California, Massachusetts, Connecticut, Pennsylvania and West Virginia. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX Best Market under the symbol TCNNF.
To learn more about Trulieve, visit www.Trulieve.com.
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Almost HUGE --->>> Trulieve's National Expansion Momentum Continues with Acquisition of Mountaineer Holding LLC in West Virginia and Massachusetts Cannabis Control Commission Giving Green Light to Start Growing
Acquisition broadens dispensary footprint and provides grow permit in West Virginia to complete vertical operations; Starts growing plants in Holyoke, MA --->>> MA stores are averaging approximate annual revenues of $8M. They can't have too many stores, but each one comes with big P & L impact. - FUNMAN
TALLAHASSEE, Fla., March 22, 2021 /CNW/ - Trulieve Cannabis Corp. ("Trulieve" or the "Company") (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States, today announced that it has entered into a definitive agreement pursuant to which Trulieve has agreed to acquire Mountaineer Holding LLC ("Mountaineer") and that it began planting at its Holyoke, Massachusetts cultivation and processing facility.
Mountaineer Transaction:
The Mountaineer acquisition positions Trulieve for vertical operations in West Virginia.
The acquisition brings a cultivation permit and two additional dispensary permits to Trulieve, resulting in six dispensaries throughout the state.
Further extends and strengthens Trulieve's national expansion with the ability for a full-scale operation in a new medical marijuana state. Holyoke, MA:
Holyoke facility allows for over 60,000 square feet of canopy, as defined under Massachusetts regulations, and 18,000 square feet of processing.
First harvest expected in the second half of 2021.
Kim Rivers, Trulieve CEO stated, "West Virginia just became a lot more interesting with the addition of a cultivation permit asset to our processor and dispensary application wins. Trulieve is known for our quality flower. Combining our expertise for growing high-quality medical cannabis with our passion for producing a premium product portfolio and providing broad access to a wide variety of medicine for patients will allow us to bring our full Trulieve brand experience to West Virginia."
Rivers continued, "We are pleased to have been given permission by the Cannabis Control Commission to start growing in our Tier 9 cultivation facility in Holyoke and are looking forward to bringing our high-quality flower and cannabis products to the Massachusetts community in 2021."
Proposed Transaction
Trulieve has agreed to acquire Mountaineer Holdings LLC for an upfront payment of $6 million, comprised of $3 million in cash and $3 million in Trulieve subordinate voting shares ("Trulieve Shares"). Stock price is based on 10-day VWAP from the last trading day before signing. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close during the second quarter of 2021. The Mountaineer Holdings LLC deal has been unanimously approved by the board of directors of Trulieve.
Advisors and Counsel
For Transaction: Fox Rothschild LLP is acting as legal counsel to Trulieve.
About Trulieve
Trulieve is primarily a vertically integrated "seed-to-sale" company in the U.S. and is the first and largest fully licensed medical 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 has licensed operations in California, Massachusetts, Connecticut, Pennsylvania and West Virginia. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX Best Market under the symbol TCNNF. Learn more at: www.trulieve.com/
Forward-Looking Statements
This news release includes forward-looking information and statements, which may include, but ?are not limited to, information and statements regarding or inferring the future business, ?operations, financial performance, prospects, and other plans, intentions, expectations, estimates, ?and beliefs of the Company and statements with regard to the completion of the acquisitions, the issuance of Subordinate Voting Shares, and the expansion of the Company's operations. 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 information and 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 information and statements herein. Although the Company ?believes that any forward-looking information and statements herein are reasonable, in light of ?the use of assumptions and the significant risks and uncertainties inherent in such information ?and statements, there can be no assurance that any such forward-looking information and ?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 information and statements. Any forward-looking information and 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 ?information and statements herein or to update the reasons that actual events or results could or ?do differ from those projected in any forward looking information and statements herein, whether ?as a result of new information, future events or results, or otherwise, except as required by ?applicable laws.?
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