Trulieve acquires marijuana cultivation license, two dispensary permits in WV

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Trulieve Cannabis completed a $6 million cash-and-stock acquisition of West Virginia medical marijuana operator Mountaineer Holding.

The acquisition, which was announced in March, includes a cultivation license and two dispensary permits.

The deal “positions Trulieve for vertical operations in West Virginia,” the Florida-based company said in a Thursday news release.

“Our teams have already been at work in the state and adding Mountaineer to our portfolio provides significant potential for depth and scale,” Trulieve CEO Kim Rivers said in a statement.

“We look forward to serving West Virginia patients, and expect to be operational before the end of 2021.”

Trulieve received four MMJ dispensary permits in West Virginia a licensing round earlier this year, along with several other multistate cannabis operators.

The company also acquired three more dispensary permits through a $650,000 acquisition of Solevo Wellness West Virginia in April.

Registration for eligible medical marijuana patients in West Virginia began this week.

Trulieve shares trade as TRUL on the Canadian Securities Exchange.