Trulieve Cannabis Corp.

Trulieve Cannabis Corp. (CSE: TRUL) (OTC: TCNNF) is the largest single-state cannabis operator in the United States by revenue, having built a dominant position in the Florida medical cannabis market before expanding its multi-state footprint through the transformative acquisition of Harvest Health & Recreation in 2021 and continued organic development in multiple additional states. Founded in 2015 and headquartered in Tallahassee, Florida, Trulieve pioneered the delivery-based medical cannabis model in Florida and grew to operate the most extensive dispensary network and the highest patient market share of any licensed medical cannabis operator in the state. According to its website at trulieve.com, the company operates more than 170 retail cannabis dispensaries across Florida, Georgia, West Virginia, Pennsylvania, Maryland, Connecticut, Arizona, California, Massachusetts, and other states, with vertically integrated cultivation and manufacturing operations providing the product supply for its retail network.

Trulieve's Florida cannabis franchise, described at trulieve.com, represents one of the most successful individual-state cannabis market positions in the industry — having served Florida medical cannabis patients from the program's early years with a delivery-first model that reached patients across the state's large and geographically dispersed population before building the retail dispensary network that now serves as the primary channel for Trulieve's Florida cannabis sales. The company's Florida operations encompass large-scale cultivation facilities in the Quincy and other Florida growing regions, processing and manufacturing facilities producing the full range of cannabis product formats from flower through vaporizers, edibles, topicals, and concentrates, and a retail network that serves the approximately 900,000 Florida medical cannabis patients who have obtained state medical cannabis cards. Trulieve's Florida operational scale and patient relationships constitute one of the most valuable franchises in the U.S. cannabis industry.

Trulieve's multi-state expansion strategy has added significant revenue and operational scale beyond Florida through both the Harvest acquisition — which brought Trulieve into Arizona, Pennsylvania, and other western and eastern markets — and continued organic growth through new dispensary openings across its current state footprint. According to trulieve.com, the company's capital allocation priorities balance continued investment in its highest-returning markets — particularly Florida, where Trulieve's dominant market position generates extraordinary returns on capital — with selective multi-state development in markets with strong regulatory and demand fundamentals. Trulieve Cannabis Corp.'s combination of Florida cannabis market dominance, 170-plus dispensary retail network, fully vertically integrated operations, multi-state expansion platform, and CSE/OTC-listed public company structure establishes it as one of the most consequential and successful cannabis companies in North America.