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Trulieve Cannabis Corp (OTCMKTS:TCNNF) Inaugurates A New Dispensary In Florida To Serve Patients In Tampa: Reports A Sequential Growth Of 26% QoQ In Q2 2020



Trulieve Cannabis Corp (OTCMKTS:TCNNF) inaugurated 55th dispensary in the state of Florida to serve the patients in Tampa.

Kim Rivers, CEO of Trulieve, said the company is proud to strengthen its Trulieve brand by opening a new 57th dispensary in the nation. It allows the people in the Tampa market to access its innovative products.

In-store pickup option

The company is committed to providing reliable and safe access to its products across the state. Trulieve allows D2C and in-store pickup options to maintain the wellbeing of its employees and patients as well. It has made it mandatory to wear masks for state-approved caregivers and patients to pick up their goods.

Modified store layout

Trulieve implemented several safety measures that comprise plexiglass partitions, modified the store layout, deep cleaning, and HEPA air filtration scrubbers at each dispensary to comply with CDC recommendations. It offers curbside pickup and in-store pickup at select dispensaries. The company also made the availability of its product catalog online for easy selection and ordering.

Knowledgeable and experienced staff

The staff at Trulieve is knowledgeable and experienced to help potential customers select the right CBD and THC products from a wide catalog. Its product line comprises vaporizers, topical creams, tinctures, concentrates, and smokable cannabis. The company also introduced an online chat facility to assist the patients in the ordering.

Trulieve posted a record growth of 26% QoQ to $120.8 million in Q2 2020. As of June 30, 2020, it holds a cash balance of $150.3 million.

Kim said Q2 2020 results show the capability of Trulieve in achieving sequential growth QoQ by expanding retail footprint organically. The company is excited to maintain strong cash flow and financial performance while complying with strict COVID-19 protocols.

Trulieve targets to increase its store count to 68 in Florida to report strong growth going forward. It expects to enter the market in Massachusetts in 2021.

Trulieve is on track to achieve up to $485 million in 2020, considering the H1 2020 performance.

The seed-to-sale company – Trulieve engages in the cultivation and manufacture of all the products in-house. It sells all in-house grown products through Trulieve branded dispensaries in Florida. The patients can get CBD and THC products direct at their doorstep by choosing the D2C facility. Trulieve also conducts its business operations in Connecticut, Massachusetts, and California.

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