Trulieve Announces Closing of US$140 Million Private Placement of 10.5% Senior Secured Notes

Executive Summary

• Trulieve closed a private placement of 10.5% senior secured notes, raising US $140 million in gross proceeds.
• The notes bear interest at 10.5% per annum, mature on December 17 2030, and may be redeemed starting December 17 2027.
• Net proceeds are earmarked for capital expenditures and other general corporate purposes.

Key Details

• Offering Size: US $140.0 million gross proceeds (aggregate principal amount of the notes).
• Interest Rate: 10.5% per annum, payable semi‑annually in equal installments.
• Maturity: December 17 2030; optional redemption allowed on or after December 17 2027 at the applicable price.
• Issue Price: 100% of face value (notes issued at par).
• Security: Senior secured obligations of Trulieve Cannabis Corp.
• Placement Structure: Conducted on a “best‑efforts” basis; sole agent and bookrunner – Canaccord Genuity Corp. under an amended and restated agency agreement.
• Listing: Required filings made to list the notes on the Canadian Securities Exchange (CSE) after the four‑month statutory hold period.
• Use of Proceeds: Intended for capital expenditures and other general corporate purposes.
• Regulatory Note: The notes were not registered under the U.S. Securities Act of 1933; offering complies with applicable securities laws.

Notable Quotes

(No executive quotes included in the release.)