Trulieve CEO speaks on growth via M&A, federal pot reform

LOS ANGELES (AP) — The U.S.′ expanding legal marijuana market is helping drive strong sales and profit growth for multistate operators like Trulieve Cannabis Corp.

The Quincy, Florida-based company sells cannabis products in 11 states from Arizona to Pennsylvania. It reported $408.9 million in revenue in the first half of this year, an 89% jump from the same stretch of 2020. Its net income surged 67% over the same period.

The company recently completed its acquisition of Tempe, Arizona-based cannabis company Harvest Health & Recreation in a deal valued at $2.1 billion. 

Trulieve’s latest expansion bid comes as more states allow sales of marijuana in some form or another. 

Adult recreational use of marijuana is now legal in 19 states, with Connecticut, New Mexico and Virginia among those that enacted such laws this year.

Even so, the cannabis industry remains constrained by legal impediments to accessing capital and other challenges stemming from marijuana being illegal at the federal level. The industry is hoping Congress will deliver on long-sought legislation, including the Secure and Fair Enforcement (SAFE) Banking Act, which would free up banks to do business with licensed marijuana companies.

Trulieve CEO Kim Rivers recently spoke to The Associated Press about the impact of the Harvest deal, how her company has weathered the pandemic and the need for federal pro-cannabis legislation. The interview has been edited for length and clarity.

Source & Full Interview: https://apnews.com/article/business-pennsylvania-marijuana-trulieve-cannabis-corp

Florida governor candidate Charlie Crist seeks to legalize marijuana if elected

FORT MYERS, Fla. — Democratic candidate for Florida’s governor Charlie Crist is now pushing to legalize marijuana if he is elected.

Crist joined the list of people pushing for the full legalization of marijuana on Thursday.  It’s all part of his Justice For All campaign. 

“Let me be clear. If I am elected governor, I will legalize marijuana in the sunshine state,” Crist said. 

Source & Full Article: https://abc-7.com/news/2021/10/14/florida-governor-candidate-charlie-crist-seeks-to-legalize-marijuana-if-elected/