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    TRUL   CA89788C1041

TRULIEVE CANNABIS CORP.

(TRUL)
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Trulieve Cannabis : Reports Results of 2021 Annual and Special Meeting of Shareholders

06/11/2021 | 03:15pm EDT

Adds two accomplished female directors to the Board

TALLAHASSEE, Fla., June 11, 2021 /CNW/ - Trulieve Cannabis Corp. ("Trulieve" or the "Company") (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States, today announced the results of its Annual and Special Meeting of Shareholders held on June 10, 2021 (the "Meeting"). Each of the eight individuals nominated for election as a director of Trulieve at the Meeting were elected, including new nominees, Giannella Alvarez and Jane Morreau.

Ms. Alvarez has experience in strategic planning, branding, innovation, consumer insights, technology, and scaling and leading multi-billion dollar businesses. She was the Chief Executive Officer of Beanitos, Inc., a privately held snack food company from January 2018 until December 2019. Prior to that she was the Chief Executive Officer of Harmless Harvest, Inc., a privately held organic food and beverage company from 2015 until January 2018. Her experience includes senior global leadership roles at The Coca-Cola Company, The Procter and Gamble Co. and Kimberly Clark

Ms. Giannella Alvarez (CNW Group/Trulieve Cannabis Corp.)

Ms. Morreau is a seasoned global finance executive with a broad skillset and expertise that also includes supply chain management, manufacturing operations, information technology, retail operations, mergers and acquisitions and corporate strategy. Ms. Morreau is currently employed as the Executive Vice President and Chief Financial Officer of Brown-Forman Corporation, a position she has held since 2014. 

Ms. Jane Morreau (CNW Group/Trulieve Cannabis Corp.)

"Diversity is an important value for Trulieve. With the appointments of Ms. Alvarez and Ms. Morreau, Trulieve's Board of Directors is now comprised of 50% women," said Trulieve CEO Kim Rivers. "We welcome our newest independent board members. Their combined experience in corporate finance and branding will be highly beneficial as we continue building out our U.S. hub strategy.

Rivers continued, "Two long-serving board members did not stand for re-election. As founders of Trulieve, Mr. George Hackney and Mr. Michael O'Donnell have sat on our board since Trulieve's inception and have provided invaluable contributions to the Trulieve Board during their tenure. I wish them well during their retirement and thank them for their service as Board members."

The Company put forward the following resolutions to be voted on by shareholders at the meeting, all of which were approved: (i) to set the number of directors at eight; (ii) to re-elect directors for the forthcoming year from the nominees proposed by the Board; (iii) to approve the 2021 Omnibus Incentive Plan; and (iv) to re-appoint MNP LLP, as auditors for the Company and authorization of the Board of Directors to fix the auditors' remuneration and terms of engagement.

A total of 87,472,070 of the 126,003,739 votes attached to all outstanding shares of the Company on an as-converted basis as at the record date voted at the meeting, representing 69.42% of outstanding shares on an as-converted basis.

Election of Directors: 

Each of the directors elected at the Meeting, being Kim Rivers, Giannella Alvarez, Thad Beshears, Peter Healy, Richard May, Thomas Millner, Jane Morreau and Susan Thronson, and will hold office until the next annual general meeting of the Company or until their earlier resignation or removal.

Appointment of Auditors:

MNP LLP were appointed as Auditors of the Corporation for the 2021 fiscal year with the Directors authorized to fix their remuneration.  

About Trulieve

Trulieve is primarily a vertically integrated "seed-to-sale" company in the U.S. and is the first and largest fully licensed medical cannabis company in the State of Florida. Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the State of Florida, as well as directly to patients via home delivery. Trulieve also has licenses in California, Massachusetts, Connecticut, Pennsylvania and West Virginia. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF.

To learn more about Trulieve, visit www.Trulieve.com.

SOURCE Trulieve Cannabis Corp.

© Canada Newswire, source Canada Newswire English

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Financials (USD)
Sales 2021 873 M - -
Net income 2021 143 M - -
Net cash 2021 233 M - -
P/E ratio 2021 34,2x
Yield 2021 -
Capitalization 4 152 M 4 152 M -
EV / Sales 2021 4,49x
EV / Sales 2022 3,36x
Nbr of Employees 6 200
Free-Float 43,6%
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Technical analysis trends TRULIEVE CANNABIS CORP.
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TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 18
Average target price 72,68 $
Last Close Price 36,77 $
Spread / Highest target 196%
Spread / Average Target 97,7%
Spread / Lowest Target 61,8%
EPS Revisions
Managers and Directors
NameTitle
Kim Rivers Chairman, President & Chief Executive Officer
Alex DĺAmico Chief Financial Officer
Jason Pernell Chief Information Officer
Thad Beshears Independent Director
Richard May Independent Director
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