With cannabis reform becoming a global phenomenon, the question of its federal legalization in the U.S. has shrunk to how long it will take place.
Kim Rivers, CEO of Trulieve Cannabis Corp. TCNNFwho was a keynote speaker at the inauguration of the Benzinga Capital Cannabis Conference last fall, he said the southeast is the next new frontier of cannabis reform in the country.
Now with the Cannabis Capital Conference Returning to Chicago on Sept. 13-14, Rivers will once again share his ideas on managing one of the companies whose shares are among the top picks for analysts quarter after quarter.
In nearly six years since Trulieve was founded, the medical marijuana company has grown from a dozen employees to 8,000 with operations in 11 states.
Having a strategy and “highly identified goals with very specifically measurable results,” as well as developing the business in key regions, “is what it takes to become and remain a major player in the cannabis industry.” say Rivers, who joined Trulieve at the beginning.
Who is Kim Rivers?
Before Trulieve, Rivers worked there private practice as a lawyer where she is specializing in mergers, acquisitions and securities for multimillion-dollar companies. She too he ran several successful businesses, from real estate to finance.
Riusalong with a significant number of company executives, including the CFO Alex D’Amicopresident Steve White i Christine Herseyexecutive director of investor relations recently bought a significant number of shares in the company.
In addition to demonstrating confidence in the company, Rivers, who previously bought shares in the company, emphasized that the company is strategically positioned “to meet the growing demand of domestic consumers through our enhanced growing capabilities and a big retail footprint. “
Trulieve & Harvest Merger
In OctoberTrulieve closed a $ 1 billion merger with Harvest Health & Recreation Inc. The acquisition increased the Tallahassee-based company’s retail footprint with a strong network of 149 dispensaries in 11 states and three strategic regional centers, with market-leading positions in Florida, Pennsylvania and Arizona.
Highlights and recent movements
To the point of reporting another record quarter last month and generated revenue of $ 318.3 million during the period, Rivers said the company “is off to a good start in 2022.”
Trulieve expects year-round revenue to be between $ 1.3 billion and $ 1.4 billion. Adjusted EBITDA is expected to be between $ 450 million and $ 500 million.
Meanwhile, Trulieve remains an attractive rating in the group of larger MSOs, according to Pablo Zuanic, analyst at Cantor Fitzgeraldwith “the generation of balance sheet and cash flow to add depth and / or breadth to your footprint through M&A”.
In April, Trulieve closed the acquisition of Greenhouse Wellness West Virginia Dispensaries LLC, holder of a West Virginia dispensary permit.
Come meet the amazing woman who has pastored Trulieve through these highly successful movements. Kim Rivers will be at the Benzinga Cannabis Capital Conference in Chicago Palmer House Hotel September 13-14, 2022.
Get your tickets HERE
Photo: courtesy of Benzinga