Trulieve Cannabis Corp. (NYSE: TRLV), a leading and top-performing medical cannabis company in the U.S., today announced the full repayment of an approximately $65-million mortgage notes payable secured by a cultivation site in Jefferson County, Florida, thereby reducing outstanding debt to approximately $225 million.
"We used our strong cash generation to repay this mortgage prior to its maturity date as part of our long-term strategy to bolster our financial position," said Trulieve CEO Kim Rivers.
"Reducing balance sheet leverage lowers our annual interest expense, improving profitability and cash flow. Given the strength of our platform, we are well positioned to fund growth initiatives in the near-term including expansion in Georgia and Texas, pending regulatory approvals."
TRLV shares dipped 2.5 cents to $10.62.
