Trulieve Cannabis Corp.(CSE: TRUL) has announced this morning that they plan to acquire 100% of Life Essence, Inc., located in Massachusetts, and 100% of Leef Industries, LLC, located in California, marking the first acquisitions in the company’s history. These moves by Trulieve will be the first time the company has moved operations out of Florida.
Leaf Industries, LLC. has received 12 separate licenses by the State of California to setup recreational and medicinal dispensaries. Their company offers a retail locations, e-commerce purchases, and the home deliveries of cannabis to patients and recreational users.
Life Essence, Inc. owns three separate recreational marijuana licenses as well as a 126,000 square foot cultivation and processing facility in Massachusetts. Their company prides itself on being a seed-to-sale cannabis company that also offers products and dispensary locations throughout the state.
Trulieve has chosen these acquisition targets to become capable of distributing their in-house manufactured cannabinoid product line to two new recreationally legal states in the U.S.
Kim Rivers, CEO of Trulieve, stated, “These transactions mark an important milestone in the growth of the Trulieve brand and our goal of becoming a leading multi-state operator. Life Essence is establishing itself as a prominent seed-to-sale operator in Massachusetts, while Palm Springs-based Leef Industries is a leading cannabis retailer in one of the largest and most significant cannabis markets in the country.”