Trulieve, one of the 13 companies the state of Florida has allowed to operate in Florida, is preparing to go public in Canada. Based on media reports, Schyan Exploration Inc. announced that it has entered into a non-binding letter agreement with George Hackney, Inc. d.b.a. Trulieve whereby the company and Trulieve have agreed to merge their respective businesses resulting in a reverse takeover of the company by Trulieve.
Concurrently, with the closing of the transaction the resulting issuer will apply to have its shares listed on the Canadian Securities Exchange (‘CSE’). Accordingly, the transaction is subject to the approval of the CSE.
The transaction terms are subject to the parties successfully negotiating and entering into a definitive agreement. The final legal structure will be determined after the parties have considered all applicable tax, securities law, and accounting efficiencies.
Upon completion of the transaction, it is expected that the board of directors and management of the resulting issuer will consist of the persons identified below.
Kim Rivers – Chief Executive Officer, Chairman and Director
Mohan Srinivasan – Chief Financial Officer
Kevin Darmody – Investor Relations
Jason Pernell – Chief Information Officer
Craig Kirkland – Research and Development Manager
Ben Atkins – Director
Thad Beshears – Director
George Hackney – Director
Richard May – Director
Michael J. O’Donnell, Sr. – Director
Trulieve is a vertically integrated ‘seed-to-sale’ company and is the first and largest fully licensed medical marijuana company in the state of Florida. Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve branded stores throughout the state of Florida as well as directly to patients via home delivery.
Headquartered in Quincy, Florida, Trulieve is focused on being the brand leader for quality medical cannabis products and service in Florida and beyond. Trulieve employs over 800 people and is committed to providing patients a consistent and welcoming retail experience across Trulieve branded stores.
Trulieve intends to open an additional 15 Trulieve branded stores by January 2019. In addition, Trulieve is focused on leveraging its manufacturing and retail expertise to expand into other states in the United States.