TALLAHASSEE, Fla., Jan. 10, 2020 (GLOBE NEWSWIRE) — Trulieve Cannabis Corp. (“Trulieve” or the “Company”) (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States, announced today that it has filed a lawsuit in Florida state court against GRIZZLY RESEARCH LLC (“Grizzly”) alleging, among other claims, defamation for publicly disseminating false and libelous statements about Trulieve to manipulate the stock price and further its own financial interests. On December 17, 2019, Grizzly published a false, misleading, and unsubstantiated report. The Complaint demonstrates the defamatory, false and misleading nature of the report. The Company posted a summary of these claims and responses on their website.
“This lawsuit represents Trulieve’s firm stance against such false and misleading reports,” said Trulieve CEO, Kim Rivers. “We will work tirelessly to fight back against these fraudulent claims in a legal setting. The truth matters deeply to the Trulieve team, and we are proud to champion honesty in our industry and hopefully prevent this firm from using slander in an attempt to manipulate stock prices in the future. We will protect our brand by ensuring that the trust between Trulieve and its shareholders, as well as customers, is never called into question.”
Trulieve will prosecute this lawsuit to the fullest extent and is seeking a retraction of the false and misleading report, as well as compensatory, special, and punitive damages, attorneys’ fees and interest.
Trulieve is a vertically integrated “seed-to-sale” company and is the first and largest fully licensed medical cannabis company in the State of Florida. Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the State of Florida, as well as directly to patients via home delivery. Trulieve also operates in California, Massachusetts and Connecticut. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX Best Market under the symbol TCNNF.
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company and statements with regard to the Report and the Company’s response thereto. Words such as “expects”, “continue”, “will”, “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the Company’s current projections and expectations about future events and financial trends that management believes might affect its financial condition, results of operations, business strategy and financial needs, and on certain assumptions and analysis made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
Director, Investor Relations & Corporate Communications