Trulieve Cannabis Corp. TRUL, -0.93% TCNNF, -0.30% and Harborside Inc. HBORF, -5.02% HBOR, on Tuesday inked separate acquisitions.
In the larger of the two, Trulieve said it would pay about $13.75 million in cash plus undisclosed milestone payments for an operational 64,000 square foot cultivation facility in Phoenix. The deal marks Trulieve’s fifth cultivation location in Arizona, along with its 17 dispensaries in the state. Meanwhile, Harborside said it would pay about $1.3 million for a 50.1% interest in FGW Haight Inc., which has a conditional use approval necessary to operate a cannabis dispensary and related businesses in San Francisco’s Haight-Ashbury neighborhood. Shares of Trulieve are up 0.7% in 2022 and Harborside shares have risen 68.6% this year. The AdvisorShares Pure US Cannabis ETF MSOS, +0.21% has fallen 5.2% in 2022.
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