Trulieve Cannabis Corp. has completed its move from British Columbia to Delaware, formally shifting the marijuana company’s corporate domicile to the United States.
The redomicile became effective August 11 after the required filings took effect in Delaware. The move follows approval from the British Columbia Supreme Court on August 10 and an overwhelmingly favorable shareholder vote on August 5.
Shareholders cast 71,756,586 votes in favor of the Delaware domestication, compared with 383,078 votes against and 50,472 abstentions, according to a filing with the U.S. Securities and Exchange Commission. That represents roughly 99.5% support among shares voted for or against the proposal.
“Redomiciling to the United States marks an exciting new chapter for our company, expanding access to U.S. investors and enhancing eligibility for broader index inclusion,” said Trulieve CEO Kim Rivers. “As one of the industry’s leading cannabis operators, we are thrilled to align our corporate structure with where we operate, invest, and serve our patients.”
Trulieve first announced plans for the move in May, saying the change would better align its corporate structure with its U.S.-focused operations. At the time, completion remained subject to shareholder approval, approval from the Supreme Court of British Columbia and other regulatory requirements.
The company’s subordinate voting shares will continue trading on the New York Stock Exchange under the ticker symbol TRLV.
Trulieve began trading on the NYSE in June after previously trading on the Canadian Securities Exchange and OTCQX. The company announced on June 5 that its shares were expected to begin NYSE trading June 10 under the TRLV ticker.
Trulieve is a vertically integrated multistate marijuana operator with operations across several U.S. markets, including a particularly large presence in Florida. The company says the Delaware move is intended to increase access to U.S. investors and improve its eligibility for inclusion in broader stock market indexes.
