Trulieve Cannabis Corp. completed the acquisition of Harvest Health & Recreation Inc..
Canaccord Genuity Corp. acted as exclusive financial advisor and Derek Sigel, Russel Drew, Kevin Fritz, S. Campbell Fitch, J. Kevin Wright, Sangeetha Punniyamoorthy of DLA Piper (Canada) LLP and Sean Coyle, Joshua Ashby, Patrick J. Pazderka and Joshua Horn of Fox Rothschild LLP acted as Canadian and United States legal counsels, respectively, to Trulieve. Canaccord Genuity Corp. also provided a fairness opinion to the Board of Directors of Trulieve. Moelis & Company LLC acted as financial advisor and fairness opinion provider and Linda Misetich Dann, Alan Gardner and Sander Grieve of Bennett Jones LLP and Troutman Pepper LLP acted as Canadian and United States legal counsels, respectively, to Harvest. Haywood Securities Inc. acted as financial advisor and provided a fairness opinion to the special committee of Harvest. Harvest has retained the services of Equiniti (US) Services LLC to solicit proxies for a fee of approximately $10,000. Odyssey Trust Company is the transfer agent for Trulieve Subordinate Voting Shares and Harvest Shares. Harvest will pay a fee of $17.2 million to Moelis for its servises and will pay $2 million for the delivery of Moelis' opinion.
Trulieve Cannabis Corp. (CNSX:TRUL) completed the acquisition of Harvest Health & Recreation Inc. (CNSX:HARV) on October 1, 2021. The Trulieve Cannabis intends to use the net proceeds of the Offering i.e., private placement of 8% Senior Secured Notes due 2026 of $350 million to redeem certain outstanding indebtedness of Harvest Health & Recreation Inc. Trulieve acquired all outstanding shares of Harvest and Harvest became a wholly-owned subsidiary of Trulieve. On the closing date all of the members of the board of directors of Harvest, consisting of Steven M. White, Elroy P. Sailor, Mark Neal Barnard, Eula L. Adams, Michael Scott Atkison, and Ana Dutra, resigned as directors and board committee members, as applicable, of Harvest. On the closing date, each of Deborah K. Keeley, Joseph Edward Sai, Elroy P. Sailor, Nicole Stand, and Steven M. White, Harvest's Chief Financial Officer, Chief of Staff, Chief Strategy Officer, Vice President, General Counsel and Secretary, and Chief Executive Officer, respectively, resigned from their positions as executive officers of Harvest, but remained as employees of Harvest. Immediately thereafter, Kim Rivers and Eric Powers were elected as the members of the board of directors of Harvest. Kim Rivers was appointed Harvest's principal executive officer. Eric Powers was appointed Harvest's principal financial and accounting officer. Kim Rivers also serves as the Chair, President and Chief Executive Officer of Trulieve and Eric Powers also serves as the Chief Legal Officer of Trulieve.