Trulieve Cannabis Corp. (CSE: TRUL) announced on November 19th the company’s financial results for the third quarter of 2018.
Trulieve’s financial highlights for the quarter included an increase of revenue from this year’s $23.3 million in Q2 to Q3’s $28.3 million. The company’s Chief Executive Officer (CEO), Kim Rivers, stated this about the performance of Q3, “These outstanding results in Q3 demonstrate the meaningful progress we’ve made on our strategic plan since becoming a publicly-traded company in September.” The CEO mentioned that Trulieve’s focus is still on scaled growth with multi-state operational expansions.
Highlights within the company’s performance section included its successful initial public offering (IPO) onto the Canadian Securities Exchange (CSE) and its acquisition agreement to fully acquire 100% of Life Essence, Inc. and Leef Industries, LLC.
Risk of Prosecution for Marijuana-Related Companies. If you are considering investing in a company that is connected to the marijuana industry, be aware that marijuana-related companies may be at risk of federal, and perhaps state, criminal prosecution. The Department of Treasury recently issued guidance noting: “[T]he Controlled Substances Act (“CSA”) makes it illegal under federal law to manufacture, distribute, or dispense marijuana. Many states impose and enforce similar prohibitions. Notwithstanding the federal ban, as of the date of this guidance, 20 states and the District of Columbia have legalized certain marijuana-related activity.”