Fox Rothschild Represents Trulieve Cannabis Corporation in Acquisition of Mountaineer Holding LLCMarch 26, 2021 – Press Releases
A Fox Corporate Cannabis team led by Sean P. Coyle represented Trulieve Cannabis Corporation (CSE: TRUL) (OTCQX: TCNNF), a leading cannabis company in the United States, in its $6 million agreement to acquire Mountaineer Holding LLC.
The deal positions Trulieve for vertical operations in West Virginia – an emerging state in the medical marijuana space – bringing a cultivation permit and two additional dispensary permits, resulting in six dispensaries throughout the state.
Trulieve has agreed to acquire Mountaineer for an upfront payment of $6 million, comprised of $3 million in cash and $3 million in Trulieve subordinate voting shares. Stock price is based on 10-day VWAP from the last trading day before signing. The transaction, which has been unanimously approved by the board of directors of Trulieve, is subject to customary closing conditions and regulatory approvals with expected closing during the second quarter of 2021.
Coyle was assisted by Fox attorneys JT Schuweiler, Adam B. Diaz and Jared Schwass.