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Trulieve (CSE:TRUL) (OTC: TCNNF) Projects $214 Million Revenue in 2019

651 views · Published 22 November 2018 · 6:57 · Indexed 31 October 2026

Channel: RICH TV SHOW · 2018 · News & Politics

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Trulieve (CSE:TRUL) (OTC: TCNNF) Projects $214 Million Revenue in 2019 - RICH TV LIVE - November 22, 2018 - The vertically integrated company Trulieve (CSE: TRUL) (OTC: TCNNF), which just began trading publicly in late September, is coming off of a strong third quarter that generated revenue of US$28.3 million, all from just within the state of Florida, where it employs 1300.  The company continues to expand in Florida and just announced entry into two new markets: Massachusetts and California. CEO Kim Rivers spoke with New Cannabis Ventures about the company’s Florida presence, M&A strategy and vision for the future.

Rivers worked in private practice law doing M&A and securities work before transitioning to the private sector and working with a number of different businesses in industries like hospitality and IT. Intrigued by the business opportunity presented by the cannabis industry, she started to do her due diligence. It became clear that profitable companies could be built in the cannabis space, but Rivers was also drawn to the disruptive potential of the space, particularly when it comes to opioid epidemic.

Trulieve in Florida

Rivers strives for Trulieve to balance a startup mentality with growing scale. The company has approximately half-a-million square feet of cultivation space, 22 retail stores, and 1,300 employees in Florida. Additionally, the company is moving into a new 55,000-square-foot production facility. Each week, the company manufactures more than 55,000 products. In the past, the company has onboarded approximately 2,200 patients per week, but that number has grown significantly. Over the last three weeks, Trulieve has brought on 3,000 to 4,200 patients per week, according to Rivers. With the possibility of adult-use coming onto the state’s ballet in 2020 and new product segments entering the market, Kim is confident new patients and consumers will continue to enter the Florida market.
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