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Trulieve Announces Completion of Redemption of All US$130 Million 9.75% Senior Secured Notes due 2024 Tallahassee, Fla.

Key Takeaway: Trulieve Cannabis Corp. has completed the redemption of its outstanding US$130 million 9.75% senior secured notes due in 2024. The company utilized approximately US$136 million for the redemption, which includes accrued interest. This move signals Trulieve's commitment to managing its financial obligations and could positively impact investor sentiment. The redeemed notes will cease trading on the Canadian Securities Exchange as of December 1, 2023.

Market Sentiment Analysis

POSITIVE FACTORS

  • Trulieve has successfully redeemed all of its US$130 million senior secured notes.
  • The redemption indicates strong financial management and a focus on reducing liabilities.
  • Completion of the redemption could enhance investor confidence in Trulieve's fiscal strategy.

Full Press Release Details

Trulieve Announces Completion of Redemption of All
US$130 Million 9.75% Senior Secured Notes due 2024
Tallahassee, Fla. December 1, 2023 Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF)
( Trulieve or the Company ), a leading and top-performing cannabis company in the U.S., today announced that it has completed the redemption of all US$130,000,000 (Cdn$175,669,000)
principal amount of its outstanding 9.75% senior secured notes due 2024 (CUSIP: 89788CAB0 / ISIN: CA89788CAB06) (the Notes ). Cash used for the redemption was approximately US$136 million (Cdn$184 million), which included the
aggregate principal amount of the Notes being redeemed, plus accrued and unpaid interest to, but excluding, the redemption date of December 1, 2023. The Notes will cease to trade on the Canadian Securities Exchange under the symbol
TRUL.DB.U as of the close of trading on December 1, 2023 and will be delisted as of December 1, 2023. Additional information regarding the redemption of the Notes is available from Odyssey Trust Co.
This press release is for information purposes only and is not an offer to purchase, a solicitation of an offer to sell the Notes or any other securities of
Forward-Looking Statements
release includes forward-looking information and statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to the Company s expectations or forecasts other plans, intentions,
expectations, estimates, and beliefs and include statements regarding the date the Notes will cease to trade and will be delisted from the Canadian Securities Exchange. Words such as expects , continue , will ,
anticipates and intends or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the Company s current projections and expectations about future events and
trends that management believes might affect its financial condition, results of operations, business strategy and financial needs, and on certain assumptions and analysis made by the Company in light of the experience and perception of historical
trends, current conditions and expected future developments and other factors management believes are appropriate. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and
other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and
statements herein, including, without limitation, the risks discussed under the heading Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2022 and in our periodic
reports subsequently filed with the United States Securities and Exchange Commission and in the Company s filings on SEDAR at www.sedar.com. There can be no assurance that any forward-looking information and statements herein will prove to be
accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements
herein are made as of the date hereof and, except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that
actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise.
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with leading market positions in Arizona,
Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub 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 to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol
TCNNF. For more information, please visit Trulieve.com.
Instagram: @Trulieve
Christine Hersey, Vice President
of Investor Relations
Phil Buck, Corporate Communications Manager

Frequently Asked Questions

What is the total amount redeemed by Trulieve?

Trulieve redeemed all US$130 million of its senior secured notes.

When will the notes cease trading on the exchange?

The notes will stop trading as of December 1, 2023.

What was the cost of redeeming the notes?

The redemption cost was approximately US$136 million.

Where can I find more information about the redemption?

Additional details are available from Odyssey Trust Co.

Which markets does Trulieve operate in?

Trulieve operates in Arizona, Florida, and Pennsylvania.

Last updated: Dec 1, 2023