Trulieve Hits Milestone, Opens 50th — And Largest — US Dispensary

Trulieve Cannabis Corp. TRUL TCNNF has cut the ribbon on its latest store, marking its 50th retail location. The event took place only a few days ahead of CEO Kim Rivers' panel at the Virtual Benzinga Cannabis Capital Conference on June 1. Rivers will discuss how to build a cannabis business the right way with Everett Knight and Lauri Kibby.

According to the Thursday press release, the newly opened dispensary is located in Daytona Beach, bringing the company's total stores in Florida to 48.

Domiciled at 812 West International Speedway Boulevard, Trulieve's newest location is one of the company's largest. It spans about 6,000 square feet, and includes about 1,500 square feet of showroom space and 14 selling points.

"Our focus is on expanding access throughout the state of Florida, and providing patients a safe, reliable way to get the medication they rely on; with the uncertainty of the past several months, we have remained dedicated to patients and will continue to do so," said Trulieve CEO Kim Rivers in a statement.

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According to the Office of Medical Marijuana Use, the number of patients in Florida that have an active ID card to purchase cannabis is approaching 340,000. There are also some 2,500 ordering physicians in the state.

Trulieve said they are following CDC guidelines for social distancing while offering customers home delivery, curbside pickup, and in-store pickup.

"While patients are able to come and shop in-store, we also encourage patients to view our online catalog for ordering, offering both in-store pickup options and direct home delivery, available statewide," Rivers added.

On the opening day, the company offered a 25% in-store discount at the Daytona Beach dispensary. A month ago, the company opened a dispensary in neighboring Titusville.

Earlier this week, Trulieve reported its first-quarter financial and operational update, witnessing revenue rising by 116% year over year to $96.1 million.