Marijuana Giant Trulieve Boosts Cash Position With $25M Loan, Opens Cannabis Stores In Florida
Portfolio Pulse from Jelena Martinovic
Trulieve Cannabis Corp. has secured a $25 million loan at an 8.31% interest rate for five years, using a Florida cultivation site as collateral. The funds will support general corporate purposes. Trulieve also opened two new medical dispensaries in Florida, expanding its presence in the state. The company offers a range of in-house and partner brand products exclusively at its Florida locations. The news suggests a positive outlook for Trulieve's growth and financial flexibility.
December 27, 2023 | 2:59 pm
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Trulieve Cannabis Corp. has bolstered its cash position with a $25M loan and opened new dispensaries in Florida, indicating a strategic expansion and potential revenue growth.
The $25 million loan enhances Trulieve's financial stability and provides capital for potential growth initiatives, which is likely to be viewed positively by investors. The opening of new dispensaries directly contributes to revenue growth and market presence, further supporting the potential for a positive short-term impact on the stock price.
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