Trulieve To Purchase Two Out-Of-State Cannabis Companies
Trulieve, Florida’s largest medical marijuana business, has purchased two new businesses that will expand its reach out of state for the first time.
The Tallahassee-based company, which operates 23 dispensaries in Florida, has agreed to purchase Life Essense in Massachusetts and Leef Industries in California.
Life Essence is a seed-to-sale cannabis company with multiple locations under development in Massachusetts. It's also applying for three recreational marijuana licenses, and licenses to build and operate three medical marijuana dispensaries and a cultivation and processing facility.
Leef Industries is a medical and recreational cannabis dispensary in California. It recently received one of only twelve fully-permitted annual licenses issued by the State of California.
“These transactions mark an important milestone in the growth of the Trulieve brand and our goal of becoming a leading multi-state operator,” said Kim Rivers, CEO of Trulieve, in a news release. “Life Essence is establishing itself as a prominent seed-to-sale operator in Massachusetts, while Palm Springs-based Leef Industries is a leading cannabis retailer in one of the largest and most significant cannabis markets in the country. We look forward to establishing the Trulieve brand and leveraging our proven business model to deliver a truly unique and full-service experience to customers in these booming markets."
Medical Marijuana Treatment Centers
The leading medical marijuana distributor in the Sunshine State is setting up shop in California and Massachusetts by way of a couple major acquisitions: Leef Industriesand Life Essence.
Trulieve announced on Thursday that it had entered into agreements to acquire 100 percent of both companies. Before they are official, the purchases must receive regulatory approval.
“These transactions mark an important milestone in the growth of the Trulieve brand and our goal of becoming a leading multi-state operator,” Trulieve CEO Kim Rivers said. “Life Essence is establishing itself as a prominent seed-to-sale operator in Massachusetts, while Palm Springs-based Leef Industries is a leading cannabis retailer in one of the largest and most significant cannabis markets in the country.
“We look forward to establishing the Trulieve brand and leveraging our proven business model to deliver a truly unique and full-service experience to customers in these booming markets,” she concluded.
Life Essence is currently in the process of applying for a license to build and operate three medical marijuana dispensaries in Massachusetts, as wells as a 126,000-square-foot cultivation and processing facility. Trulieve said the company, which sells cannabis both online and via brick-and-mortar stores, has shown “encouraging growth in the market.”
Leef Industries, headquartered in Palm Springs, Calif., is already licensed for medical and adult-use dispensaries. It has one of only a dozen fully-permitted licenses in The Golden State. Currently, Leef Industries has demonstrated encouraging growth in the market, offering in-store and online shopping, along with product home delivery.
The CEOs of both companies were enthusiastic in their support of the acquisition plan.
“This acquisition presents an extraordinary opportunity for two organizations to come together to provide a best-in-class offering to Massachusetts customers from a trusted brand name,” Life Essence CEO Richard Tannenbaum said. “There is clear alignment with Trulieve’s values and mission and we are delighted to become a part of the Trulieve family.”
Leef Industries head Kort Potter added that he was “excited about how Trulieve’s experience and brand savvy will accelerate the growth of the cannabis market in Palm Springs and beyond. We look forward to joining forces with an industry leader like Trulieve.”
Trulieve was one of the first medical marijuana providers to get rolling in the Sunshine State following Florida voters’ supermajority approval of Amendment 2 two years ago. The vertically integrated “seed-to-sale” company currently operates 22 brick-and-mortar dispensaries spread across the entire state from the Panhandle to South Florida.
Trulieve has one of 14 “medical marijuana treatment center” (MMTC) licenses in the state, according to the Department of Health’s Office of Medical Marijuana Use. Florida has a vertically-integrated market, meaning the same provider grows, processes and sells its own marijuana.
To become eligible for medical marijuana in Florida, patients must visit one of 1,820 physicians certified to determine whether a person’s condition qualifies them to be treated with the drug.
Exploring Palm Springs’ Wellness Dispensaries
By Kevin Perry
You are a product of your surroundings. Where you live defines who you are, whether it’s a salty New Englander, a laid back SoCal denizen, or an international woman (or man) of mystery.
But ultimately, we all hail from the same place: Mother Earth.
When human biology harmonizes with its local geography, we resonate with a lovely sense of calm. And at the center of this centeredness: Palm Springs. We have been a wellness destination for centuries, drawing millions of visitors thirsty for our aquifer serenity and bolstered by the stability of our foothills. The landscape embraces guests and caresses them with great vibes.
For these reasons, and so many more, we crave products described as all natural. We want to emulate nature and benefit from its healing, anxiety reducing properties. Plant life evolved alongside humanity, so we are physiologically bound together. The vitamins and minerals in vegetables, for example, help us survive and thrive.
And cannabis products may offer next-level benefits when it comes to living your best life.
CBD vs. THC
Many people’s first impression of cannabis is that of a controlled substance that alters your behavior. Marijuana products do, in fact, have the propensity to get you “high” but only in relation to their THC content.
THC stands for tetrahydrocannabinol, and it has psychoactive capabilities. Cannabidiol (CBD), on the other hand, binds differently with the receptors of the brain. It still binds with our biological structures, but it does not trigger the mood swings or impairment associated with THC.
CBD may be the perfect prescription to address various ailments, from inflammation to insomnia to immune deficiencies. The FDA even approved CBD for the alleviation of severe forms of epilepsy. Cancer patients have shown increased appetites as they recuperate from treatment, courtesy of certain weed products. People struggling with chronic pain and discomfort often turn to cannabis products for relief.
Hence, the potential perks of CBD can dovetail with a restful, healthy stay in Palm Springs. It’s all contoured to the individual life journey you choose to follow, and we hope it leads you to your ideal state of Zen. For more specific coordinates, check out our roundup of dispensaries below…
Palm Springs Dispensaries
Downtown Palm Springs is the chillest hotspot in the world. It encapsulates the freedom to stroll and puts the rock in your roll. The cannabis enclaves in our stylish city center reflect a midcentury aesthetic with a decidedly here-and-now attention to consumer needs and desires.
The foyer at Lighthouse Dispensary, for example, feels like the gateway to a spa weekend. Spacious and placid, you are ushered to a wellness wonderland from the moment you arrive. A short jaunt south on Palm Canyon brings you to Harvest House of Cannabis. This helpful haven holds occasional events like tutorials and Q&A sessions to ensure that your cannabis experience is right for you.
Palm Springs is synonymous with style. During your euphoric tour of downtown, be sure to flex your fashion sense at Holland Pharms. Once you are suitably suited up, show off your flair at Four Twenty Bank. This Palm Springs dispensary/lounge provides ample room to kick it at various music and comedy shows.
While you’re in the lower downtown ‘hood, be sure to visit the ferociously popular Coachella Valley Green Dragon . Another formidable cannabis contender is Off the Charts, which offers a vast array of edible CDB fare for you (and even for your pets!). A couple of smaller dispensaries like Rockstar Cannabis Club (530 S Indian Canyon Dr,) and PSA Organica will round out your daytrip nicely.
The East Side
If you’re venturing east, check out a duo of dynamic dispensaries. The 420 Oasis beckons you inside with a storefront that exudes Palm Springs chic. Desert flowers entwine with architectural whimsy to direct you inside, where you’ll find a friendly, knowledgeable staff. Their input is invaluable as you tap into the physical, psychological and emotional benefits of CBD.
About a block away, level up with Reefer Madness Lounge, a dispensary equipped with classic arcade games. LGBTQ+ owned, this establishment is packed with sensory delights that pair brilliantly with their delectable array of edibles.
Northern Palm Springs
Before you leave town (side note: why would you ever want to leave town?), don’t miss the dispensaries peppering the northern ridge of Palm Springs. Get philosophical at Higher Vision, get inspired at Hightend (33 95 N Indian Canyon), and get your green on at Trulieve.
And for a holistic healing haven, your north star is Joy of Life Wellness Center. Its namesake, Joy Meredith, also owns Crystal Fantasy downtown. She understands the fascinating connections between the soul, mind and body. From new age stones to Reiki circles to candles and collectibles, you are immersed in higher consciousness here in our hometown. CBD may just be the perfect garnish for your desert wellness tour.
Disclaimer: Before partaking of any cannabis use, whether it’s recreational or medicinal, be sure to consult your doctor. We do not endorse any of the above products; this article is merely a guide through the numerous dispensary options available to you in Palm Springs.
Palm springs trulieve
Trulieve's Q1 Sales More Than Double Ahead of Its Harvest Acquisition
There's an undisputed 800-pound gorilla in the Florida medical cannabis market. Trulieve Cannabis (OTC:TCNNF) absolutely dominates in its home state. But the company is working hard to establish itself as a bona fide multi-state operator. Its planned acquisition of Harvest Health & Recreation(OTC:HRVSF) will be a huge step in achieving that goal.
In the meantime, the U.S. cannabis operator is showing that it can continue to grow in Florida. Trulieve announced its first-quarter results before the market opened on Thursday. Here are the highlights from the company's Q1 update.
Image source: Getty Images.
By the numbers
Trulieve reported revenue in the first quarter of $193.8 million, a 102% year-over-year jump and a 15% quarter-over-quarter increase. This result beat the average analysts' revenue estimate of $189.86 million.
The company announced Q1 net income of $30.1 million based on generally accepted accounting principles (GAAP). In the prior-year period, Trulieve posted GAAP earnings of $23.6 million.
Trulieve generated adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in the first quarter of $90.8 million. This figure reflected an 87% year-over-year increase.
The company also continued its streak of delivering positive cash flow with $60.4 million in cash flows from operations. Trulieve's operating cash flow in the prior year period totaled $23.9 million.
Behind the numbers
Trulieve's strong revenue growth stemmed primarily from its continued expansion in Florida. Since the end of the first quarter of 2020, the company has opened 33 medical cannabis dispensaries in the state, including eight new locations opened in the first quarter of 2021. Trulieve now has 82 stores.
However, Trulieve does have a presence in other states. The company reported its first full quarter of operations in Pennsylvania. Its acquisitions of PurePenn and Solovo Wellness in November 2020 gave it marijuana cultivation and manufacturing facilities plus three medical marijuana dispensaries in the Pittsburgh area.
The company also operates a dispensary in Palm Springs, California, that serves medical and adult-use cannabis customers. In addition, Trulieve owns a medical cannabis dispensary in Connecticut.
Probably the only negative for Trulieve in Q1 was that its gross margin decreased to 70% from 77% in the prior-year period. The company attributed this decline to its expansion into new markets, the timing of its inventory flowthrough, and a changing product mix.
The biggest thing to look forward to with Trulieve is, without question, the company's purchase of Harvest. Trulieve CEO Kim Rivers said, "The pending acquisition of Harvest will be transformative and will build on our profitability, expanding our runway for growth."
This deal will give Trulieve a presence in five new states -- Arizona, Colorado, Maryland, Nevada, and Utah. These states will increase the company's total addressable market by $6.7 billion based on 2025 estimates.
The primary question for Trulieve in the past has been whether or not it could achieve success outside of Florida. The acquisition of Harvest should significantly boost the company's chances.
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Leef Industries is a licensed Medical & Adult Use (Recreational) Cannabis Dispensary in Palm Springs. We offer in-store, online shopping and home delivery!
Since opening, we have consistently delivered the highest quality products available on the market today. Our customers keep coming back to Leef Industries to obtain our high-quality and lab tested flowers, award-winning extracts and concentrates, a large selection of vape pens and cartridges, infused drinks and edibles as well as powerful medicinal tinctures and topicals.
In addition to our excellent products, we are proud to have welcoming staff who offer professional service to all our customers. Our modern facility offers an exceptional in-store experience that is safe, convenient and fully compliant products, offering access to consumers 21+ or 18+ with rec.
• We offer Senior and Military/VET discounts.
• Our daily specials and VIP notifications via SMS for exclusive offers and amazing discounts.
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We provide only the very best products! You can come and visit our store or if you prefer, you can order right here online! We provide both home delivery or in-store pickup of your order! Click the appropriate button below to check out our products and pricing and place an order!
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DELIVERY - California
We are ready to deliver your order! Select your products and we will deliver it to your door in 45-60 minutes! It's so easy!!
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Dispensaries help patients with discounted purchase of Palm Springs North medical marijuana
In the Sunshine State of Florida many of the dispensing businesses are offering first time patients discounts to help their new customers save money to offset the costs paid for their Palm Springs North medical marijuana card.
With the costs involved to receive and maintain a card its important to find savings when shopping for your supply of marijuana medicine. Before going to a dispensary to make your first purchase, you need to receive a medical marijuana card.
Dispensaries are not the only places helping patients save on costs. There's many benefits of choosing the Cannabis Care Clinic to get a medical marijuana card in Palm Springs North.
After Doctor approval at a Marijuana Clinic in Palm Springs North, FL 33015 all the State processing fees required are covered when the patients card application is submitted successfully with fees paid for by the service, for added savings and convenience. After getting the card approval, patients can save more with a discount for first time purchase at a dispensary like MUV Florida.
How to know if dispensary marijuana products can help you live a healthier life style
Any diagnosed condition you have should be evaluated by Palm Springs North Medical Marijuana Doctors, only they can perform a cannabis evaluation and fully determine whether legal marijuana use is available for your conditions.
Recent studies claim more than 40% of medical cannabis patients quit taking another prescription drug. The dispensaries Marijuana medicines can help you avoid using other prescription pills and medications which may have more severe side effects, its best to consult with your Doctor regarding stopping medications or substituting for marijuana.
If you don't already own a medical marijuana card, you need to find a marijuana Doctor or service for a medical marijuana card in Palm Springs North.
Choosing the best dispensaries in Palm Springs North FL 33015 with the best marijuana medicine & low prices
The best dispensaries will have high quality marijuana medicine at fair market pricing, with guarantees behind the effectiveness of their assortment of medical marijuana products. They will frequently host holiday sales and specials to reduce costs for patients. You can find locations for local dispensaries with the help of our Palm Springs North Marijuana Dispensaries Map.
Dispensary products and options for relief patients can comfortably use as recommended
The products will vary from dispensary to dispensary, with vaporizing being one of the overall best delivery methods from the current available options and choices for medicating.
Recently in Florida smoking has been approved for smokeable flower bud that can be purchased at dispensaries with various levels of THC and CBD. All patients are required to be evaluated and approved to have smokeable available as an inhalation treatment.
Here's the list of the current medical marijuana intake methods that are now at medical marijuana dispensaries in Florida: capsules, concentrates, creams, inhalation, patches, sub-lingual drops, suppositories, topicals, vaporization, with edibles now available.
The #1 question many ask about is, do dispensaries have Edibles available?
There is great news, the answer is YES, its recently been allowed. The Florida Department of Health made it official, issuing specific production standards for Marijuana Edibles infused with THC.