Trulieve Announces $100 Million Private Placement of 10.5% Senior Secured Notes
TALLAHASSEE, Fla., Dec. 8, 2025 /PRNewswire/ — Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and most profitable cannabis company in the United States, today announced that it has received commitments for a private placement of 10.5% Senior Secured Notes due 2030. “Proposal”). The bonds, which will be issued at 100% of the face value, will be the senior secured obligations of the Company. The notes will bear interest at 10.5% per annum, payable semi-annually in equal installments until maturity, unless earlier redeemed or repurchased. The Notes will mature on or about December 17, 2030 and may be redeemed in whole or in part at any time from time to time on or after two years from the date of issuance at the applicable redemption price set forth in the supplemental indenture to be executed at the closing of the Offering.
The offering is being conducted on a “best efforts” basis under the terms of an agency agreement between the Company and Canaccord Genuity Corp., as sole agent and sole bookrunner, and is expected to close on December 17, 2025, subject to customary closing conditions, including approval by the Canadian Securities Exchange (“SEC”). The Company intends to file the required documents for the listing of the Notes to be issued pursuant to the Offer on the CB after the expiration of the Canadian statutory four-month holding period.
The Company intends to use the net proceeds from the Offering for capital expenditures and other general corporate purposes.
The offer and sale of the Notes has not been, and will not be, registered under the Securities Act of 1933 (the “Securities Act”), as amended (the “Securities Act”), or the laws of any other jurisdiction, and the Securities are being offered only to (1) persons who are reasonably believed to be qualified institutional buyers (as defined in Rule 1450 (ascredit to investors in Regulation D)); Exemptions from the registration requirements of the Securities Act pursuant to Rule 506(b) of Regulation D and/or Section 4(a)(2) of the Securities Act and similar exemptions under applicable U.S. state securities laws and (2) outside the U.S. to certain non-U.S. persons under the Securities Act. This news release shall not constitute an offer to sell or an offer to buy, nor shall there be any sale of the Notes in any state or jurisdiction where such offer, solicitation or sale would be unlawful. The notes will be offered for sale on a private placement basis in Canada, subject to applicable exemptions from the prospectus requirements of the Canadian securities laws.
About Trulieve
Trulieve is an industry-leading, vertically integrated cannabis company and multi-state operator in the US with leading locations in Arizona, Florida and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building retail scale and distribution in new and existing markets through its central strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers live limitless lives. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, visit Trulieve.com.
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friends,
While the US is getting a lot of attention from cannabis investors, the industry faces many challenges in America. It’s been more than 12 years since Colorado shops opened their doors to adults beyond medical patients, and since then many states have embraced medical cannabis and adult cannabis. Although legal cannabis has expanded significantly, it remains a state-regulated market, and each state differs greatly in terms of rules and regulations. Cannabis remains illegal federally, and the industry continues to struggle 280E tax.
Cannabis markets outside the US continue to grow. Canada revised its federal medical cannabis program in 2013, with the MMPR replacing the MMAR, and the current Access to Cannabis for Public Purposes Regulations (ACMPR) replaced the MMPR in 2016. Justin Trudeau, who was elected Prime Minister in late 2015, became the first agenda item to legalize cannabis. implement adult use legalization in 2018. The program has its challenges, but the industry has grown as it has matured. StatsCan will release December sales data tomorrow, and it looks like cannabis sales are up about 4% for 2025.
Other countries have developed their own medical cannabis, including Australia, Germany and Israel, with Germany legalizing it for adult use. The Netherlands is holding trials in coffee shops. Uruguay, a small country, began legalizing cannabis sales to adults in 2017, and Germany began a program in 2024 to legalize cannabis for adults, although sales are through social clubs. While this program has not directly created commercial opportunities, it has boosted the market for medical cannabis. Unlike Canada, where cannabis is sold by the provinces, in Germany cannabis is sold in traditional pharmacies. A significant amount of medical cannabis sold in Germany is imported from Canada. David Brown of StratCann suggested this six months ago Almost 50% of German hemp imports in Q2 came from Canada.
The Global Hemp Stock Index, last recalculated at year-end, has 7 Canadian LPs, and these NASDAQ-listed companies tend to be active in international markets. Most MSOs in the US operate exclusively there, but one, Curaleaf, has international operations. Curaleaf trades on the TSX in Canada, but it trades in the US. The company reported total revenue of $320 million in its third quarter, with international operations (Canada, Germany, Portugal, Spain and the UK) accounting for just 14.4%. Year-to-date, it has registered just 12.9% as it has grown while domestic revenues have declined.
Canadian LPs in the index are Aurora Cannabis, Canopy Growth, Cronos Group, Organigram, SNDL, Tilray Brands and Village Farms. SNDL, which is more of an alcohol than cannabis retailer, has no international cannabis sales. The remaining six are active and active. This week, Organigram announced the acquisition of the rest of the German cannabis company, and it was already active in other markets. Cronos Group has announced the acquisition of CanAdelaar, a deal that is expected to close soon and will give it access to the Netherlands. Canopy Growth is acquiring MTL Cannabis, and increased exports of medical cannabis was a benefit he pointed to.
In: warned about Canadian LPs here at the end of November and I am now more optimistic about this part of the cannabis market. At the time I had 5 of the 7 GCSI members on my Focus List at 420 Investor, but I added Aurora Cannabis when they reported their financial Q3 and fell. Here’s how all 7 have performed since the end of November.
My 420 Investor model portfolio includes a small position in Tilray Brands, a large position in Aurora Cannabis, and a very large position in Organigram. These three positions represent 31.9% of the portfolio, while the GCSI has 27.4% exposure.
The Canadian LP market has certainly been cheaper than it is now, but it seems cheap enough. Balance sheets have improved dramatically, and some of these large companies are trading below tangible book value. NASDAQ listings are superior to the OTC listings that MSOs have. The Canadian market may improve, although I don’t expect it to, and international expansion may continue to help federally legal Canadian LPs export more or expand to other countries. These international operations also involve risks. I see a big international opportunity for Canadian LPs, and investors don’t seem very excited at the moment.
Sincerely,
Alan:
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Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El
Green Thumb Industries Announces Additional $50 Million in Senior Debt Financing
CHICAGO and VANCOUVER, British Columbia, Feb. 20, 2026 (GLOBE NEWSWIRE) — Green Thumb Industries Inc. (“Green Thumb” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries, today announced that the Company has increased its existing syndicated loan facility, led by Valley National Bank 50 million dollars, bringing the total object to 189 million dollars. The Company intends to use the funds for general corporate purposes, potential strategic investments and other working capital requirements.
“Adding $50 million to our low-interest balance sheet should be good for our shareholders over the long term,” said Ben Kowler, founder, president and chief executive officer. “We are fortunate to have Valley National Bank as a financial partner who trusts our business model and capital management.”
The credit facility matures on September 11, 2029 and will continue to bear interest from the date of issue at the Secured Overnight Funding Rate (SOFR) + 500 basis points. This transaction does not involve the issuance of Green Thumb shares to any of the banks participating in the syndication.
About Green Thumb Industries
Green Thumb Industries Inc. (“Green Thumb”) is a leading national cannabis consumer packaged goods company and retailer headquartered in Chicago, Illinois. The company manufactures and distributes a portfolio of licensed, branded cannabis products, including RYTHM, Dogwalkers, incredibles, Beboe, &Shine, Doctor Solomon’s and Good Green. Green Thumb also owns and operates RISE Dispensaries, a fast-growing national retail chain. Green Thumb serves millions of patients and customers each year with the goal of promoting wellness through the power of cannabis, while giving back to the communities it serves. Founded in 2014, Green Thumb has 20 manufacturing facilities and more than 100 retail stores in 14 US markets, employing approximately 5,000 people. More information is available at www.gtigrows.com.
New Cannabis Ventures’ NCV Newswire aims to gather high-quality content and information about leading cannabis companies to help our readers filter through the noise and stay on top of the most important cannabis business news. The NCV Newswire is edited by an editor and is not, however, automated. Got a secret news tip? Get in touch.
Michigan Cannabis sales in January have sharply decreased compared to a year ago, as they decreased by 15.9% consecutively. At $226.8 million, sales decreased by 8.3 percent compared to last year.
The Michigan Cannabis Regulatory Agency breaks down sales by medical and adult use, with medical sales down 43.4% year over year to $0.4 million, down 1.6% sequentially, and adult use sales down 8.2% year-over-year to $226.4 million, up 15.9% sequentially.
The state breaks down sales by category and provides pricing details by category for both medical and adult;
For adults
Medical
As supply continues to expand, prices for adult flowers have plummeted. The average price of $945 per pound in January is up 1.5% sequentially from a record low and down 11.2% from a year ago.
Michigan hemp sales are expected to grow 82.1% to $1.79 billion in 2021, 27.9% to $2.29 billion in 2022, and 33.3% to $3.06 billion in 2023. billion The program should continue to expand going forward as supply becomes more affordable and distribution expands.
Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El
