Multistate Operator Trulieve Cannabis Acquires Pennsylvania Dispensary Chain

Multistate operator (MSO) Trulieve Cannabis (OTC: TCNNF) is beefing up its presence in Pennsylvania. The company announced Monday that it has reached an agreement to purchase a dispensary license from Anna Holdings, under which it is permitted to operate three pot retail stores branded Keystone Shops in the state.

Trulieve will hand over an up-front payment of $60 million for the license, $40 million of which consists of its subordinate voting shares, with the remainder in cash. The company said it expects the acquisition to close by the end of the second quarter. It is subject to approval from the relevant regulatory authorities.

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Source Fool.com