With cannabis reform becoming a global phenomenon, the question of its federal legalization in the U.S. has come down to when it will take place.
Kim Rivers, CEO of Trulieve Cannabis Corp. (OTCQX:TCNNF), who was a keynote speaker at the opening of the Benzinga Cannabis Capital Conference last fall, said that the southeast is the next new frontier of cannabis reform in the country.
Now with the Cannabis Capital Conference returning to Chicago this coming September 13-14, Rivers will again share her insights on running one of the companies whose stock is among analysts’ top picks quarter after quarter.
In nearly six years since founding Trulieve, the medical marijuana dispensing company has gone from a dozen employees to 8,000 with operations across 11 states.
Having strategy and "very identified targets with very specifically measurable results," as well as developing the business around key regions, "is what it takes to become and stay a big player in the cannabis industry,” said Rivers, who joined Trulieve at its inception.
Who Is Kim Rivers?
Prior to Trulieve, Rivers worked in private practice as a lawyer where she specialized in mergers, acquisitions, and securities for multi-million dollar companies. She also ran several successful businesses from real estate to finance.
Rivers, along with a significant number of the company’s executives including CFO Alex D'Amico, president Steve White and Christine Hersey, executive director of investor relations recently bought up a significant number of company shares.
Come and meet extraordinary cannabis visionaries and let’s network and learn together. Join us in September at the Benzinga Cannabis Capital Conference and stay at the historic Palmer House Hotel. Don't miss out on a chance to hear about future market forecasts and worldly advice on investing and finance from those embedded in the cannabis industry. Ready, set, go!
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Besides demonstrating confidence in the company, Rivers, who purchased company shares earlier emphasized that the company is strategically positioned “to meet growing national consumer demand through our enhanced cultivation capabilities and expansive retail footprint."
Trulieve & Harvest Merger
In October, Trulieve wrapped up a transformational billion-dollar merger with Harvest Health & Recreation Inc. The acquisition boosted the retail footprint of the Tallahassee-based company with a robust network of 149 dispensaries across 11 states and three strategic regional hubs, with market-leading positions in Florida, Pennsylvania and Arizona.
Financial Highlights & Recent Moves
On the heels of reporting yet another record quarter last month and generating $318.3 million in revenue for the period, Rivers said that the company is "off to a great start in 2022."
Trulieve anticipates that the revenue for the full year will range from $1.3 billion to $1.4 billion. Adjusted EBITDA is expected to be in the range of $450 million to $500 million.
In the meantime, Trulieve remains attractively valued in the group of larger MSOs, according to Cantor Fitzgerald’s analyst Pablo Zuanic, having “the balance sheet and cash flow generation to add depth and/or breadth to its footprint via M&A."
In April, Trulieve closed the acquisition of Greenhouse Wellness West Virginia Dispensaries LLC, holder of a West Virginia dispensary permit.
Come and meet the amazing woman who has shepherded Trulieve through these highly successful moves. Kim Rivers will be at Benzinga's Cannabis Capital Conference in Chicago's Palmer House Hotel from September 13-14 2022.
Get your tickets HERE.
Photo: Courtesy of Benzinga
