Dispensary Roundup: Trulieve Opens Two Stores In Florida, BC Cannabis Store And Cultivate Each Open Shops

Trulieve Opens Stores In Tampa And Tavernier, 89th and 90th Dispensary Nationwide

Trulieve Cannabis Corp. TRUL TCNNF continues its June opening streak by launching dispensaries in Tampa and Tavernier.

The two Florida retail locations are the 89th and 90th stores the Tallahassee, Florida-based company launched nationwide.

The company kicked off cannabis sales in-store at 8625 Citrus Park Drive in Tampa, next to the Citrus Park Town Center, on Saturday, June 12.

Trulieve also cut the ribbon on a store located at 91216 Overseas Highway in Tavernier, in the Florida Keys, on Thursday, June 17.

Both shops offer a myriad of cannabis products, including smokable flower, concentrates, tinctures, topical creams and vaporizers, to name a few.

Meanwhile, Trulieve is poised to wrap up a $2.1 billion deal to purchase Harvest Health & Recreation Inc. HARV HRVSF. The combined company will operate in 11 states, with a total cultivation and processing capacity of 3.1 million square feet spread across 22 facilities and 126 retail locations selling both medical and recreational cannabis.

Kim River, CEO of Trulieve, recently disclosed that the company is "moving right along with the rest of the industry at an accelerated pace."

According to its latest earnings report, released in May, the company generated a record quarterly revenue of $193.8 million in the first quarter of 2021, marking its 13th consecutive quarter of profitability.

The BC Cannabis Store Opens Shop In Greater Victoria, BC

The BC Cannabis Store launched its first store in Greater Victoria on Wednesday, June 16, CTV News reported.

The new store is the sixth provincial cannabis shop on Vancouver Island, 27th British Columbia-based store and the first government-run pot shop in Greater Victoria. It’s located at Unit E-109, 3561 Blanshard St.

“The location makes us well-positioned to serve the community and surrounding markets, providing consumers with a unique shopping experience balancing education and information with a broad selection,” said Kevin Satterfield, director of retail cannabis operations for the Liquor Distribution Branch.

Cultivate Cuts Ribbon On Third Store in Massachusetts Ahead Of Acquisition By Cresco Labs

Cultivate, a Massachusetts-based company, opened its doors Tuesday to another recreational cannabis store, according to MassLive.

The Worcester location is Cultivate’s third retail location in the Bay State. The new shop, located at 1023 Southbridge St., offers over 40 strains.

The company operates two other stores, situated in Leicester and Framingham, both selling adult-use and medical cannabis.

“We have a lot of customers that travel great distances to come to either Framingham or Leicester, and we’ve noticed a lot of them are coming from the Worcester area, so it made a lot more sense to really focus on Worcester,” store manager Rhyader Cookman said.

Cannabis company Cresco Labs CL CRLBF recently disclosed its intentions to take over Cultivate as well as BL Real Estate LLC for a total of $158 million. The transaction is expected to close during the fourth quarter of 2021.

Photo by Add Weed on Unsplash

Posted In: CultivatedispensaryKim RiversThe BC Cannabis StoreCannabisNewsPenny StocksRetail SalesSmall CapMarkets

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