Trulieve Raises $60 Million by Issuing Debt and Warrants Comparable to June Providing – New Cannabis Ventures

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Trulieve Announces Pricing of Public Providing

TORONTO, Oct. 30, 2019 /CNW/ – Trulieve Cannabis Corp. (“Trulieve” or the “Company”) (CSE: TRUL) nowadays announced that it has priced its previously announced public providing (the “Offering”) of debenture units (the “Units”). The Providing will be comprised of an aggregate principal quantity of US$60,000,000 of 9.75% senior secured notes maturing in 2024 (the “Notes”) and an aggregate quantity of 1,560,000 subordinate voting share acquire warrants (the “Warrants”) of the Business. Every Unit will consist of a single Note and 26 Warrants. Every Warrant will be exercisable till June 18, 2022 to acquire a single subordinate voting share of the Business (a “Subordinate Voting Share”) at an workout value of C$17.25 per share, topic to adjustment in specific events. The Notes and the Warrants have the identical terms as these issued pursuant to the June 2019 public providing, but for an adjustment to the quantity of Warrants to deliver for substantially the identical financial terms.

Pursuant to the Providing, the Business will challenge an aggregate of 60,000 Units at a value of US$980 per Unit plus accrued but unpaid interest from ‎and which includes June 18, 2019 to but excluding the date of closing of the Providing in the quantity of US$37.65 per US$1,000 principal quantity ‎of Notes for gross proceeds to the Business of US$61,059,000.

Canaccord Genuity Corp. (the “Agent”) is acting as the exclusive agent in connection with the Providing. The Providing is getting performed on a “best-efforts” basis pursuant to the terms of an agency agreement dated October 30, 2019, among the Business and Canaccord Genuity Corp.

The Business intends to use the net proceeds of the Providing for capital expenditures, acquisitions and for basic corporate purposes.

The outstanding Subordinate Voting Shares, the Notes and the Warrants are ‎listed and posted for trading on the Canadian Securities Exchange (the “CSE”). The Business has created the necessary filings to list the Notes, the Warrants and the Subordinate ‎Voting Shares to be issued pursuant to the Providing on the CSE. ‎.

Closing of the Providing is anticipated to take place on or about November 7, 2019 and will be topic to a quantity of customary circumstances which includes, but not restricted to, receipt of all required regulatory approval and stock exchange approval, which includes approval of the CSE.

A prospectus supplement to the Company’s base shelf prospectus dated Could 14, 2019 (collectively, the “Prospectus”) will be filed with the securities regulatory authorities in each and every of the provinces of Canada, other than Quebec. The Prospectus consists of crucial detailed info about the Providing. Copies of the base shelf prospectus and, any supplement thereto filed in connection with the Providing, can be located on SEDAR at www.sedar.com. Copies of the Prospectus may perhaps also be obtained in Canada from Canaccord Genuity Corp., ‎161 Bay Street, Suite 3000, Toronto, Ontario, M5J 2S1‎, by e-mail at [email protected]

About Trulieve

Trulieve is a vertically integrated “seed-to-sale” corporation and is the 1st and biggest completely licensed healthcare cannabis corporation in the State of Florida. Trulieve cultivates and produces all of its solutions in-home and distributes these solutions to Trulieve-branded shops (dispensaries) all through the State of Florida, as properly as straight to individuals by way of dwelling delivery. Trulieve also operates in California, Massachusetts and Connecticut. Trulieve is listed on the Canadian Securities Exchange below the symbol TRUL.

This press release does not constitute an supply to sell or a solicitation of an supply to acquire nor shall there be any sale of any of the securities in any jurisdiction in which such supply, solicitation or sale would be unlawful. The securities have not been and will not be registered below the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may perhaps not be provided or sold inside the “United States” or to “U.S. Persons” (as such terms are defined in Regulation S below the U.S. Securities Act) unless registered below the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration specifications.

To understand extra about Trulieve, take a look at www.Trulieve.com.

Original press release

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Published by NCV Newswire

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