Today, Trulieve Cannabis (TCNNF)(TRUL) announced a strategic partnership with SLANG Worldwide, a branded cannabis consumer packaged goods company, which will allow patients in Florida to access SLANG’s products from Trulieve’s dispensaries in the state.
Florida is one of the most significant cannabis markets in the United States, with more than 180,000 registered medical marijuana patients. With its 24 dispensaries and home delivery service provided across the state, Trulieve produces and distributes nearly 60%–80% of the cannabis in the state, as per the Florida Department of Health.
According to the agreement, SLANG will provide in-house training for Trulieve’s staff for production and distribution of SLANG’s portfolio of products. This agreement will allow medical patients in Florida to access SLANG’s O.penVAPE, District Edibles, and Magic Buzz product lines.
Kim Rivers, CEO of Trulieve, said, “SLANG operates with the same goals as Trulieve, working to expand patient access and create products that are high-quality, consistent, and reliable. SLANG’s expansive portfolio ranges from vaporizer cartridges to edibles to concentrates, all products that will provide Florida’s patients with the effective, natural relief they’re seeking in ways that are innovative and fresh,” reported Cision.
Trulieve has started 2019 on a strong note with its stock price rising 41.3% year-to-date as of February 15. Peers Acreage Holdings (ACRGF)(ACRG-U), iAnthus Capital Holdings (ITHUF)(IAN), and Curaleaf Holdings (CURLF)(CURA) have returned 8.1%, 32.5%, and 55.7%, respectively. The Horizons Marijuana Life Sciences Index ETF (HMMJ), which tracks the North American Medical Marijuana Index, has returned 46.3%.