Trulieve Gives Green Light To $50M Buyback Amid Corporate Restructuring Push

By Jelena Martinovic, Featured Writer

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) gave the green light to a 12-month buyback initiative that allows the company to repurchase up to $50 million of its shares.

The program, which will remain in effect until June 16, 2027, is capped at 8,495,038 subordinate voting shares. That represents 5% of outstanding subordinate voting shares as of June 8, 2026.

Why It Matters

The company said the move allows it to return value to shareholders. It also enables it to maintain flexibility to invest in growth while boosting its balance sheet.

CEO Kim Rivers seconded this.

“This program reflects our confidence in the long-term value of the business and our disciplined approach to capital allocation,” Rivers said in a press release. “We view share repurchases as an important tool to deliver value to shareholders when market conditions present a compelling opportunity, while maintaining the flexibility to invest in growth and strengthen our balance sheet.”

The Background

The Tallahassee, Florida-based company kicked off June by restructuring its business to pursue an NYSE listing, according to its recent filing with the U.S. Securities and Exchange Commission (SEC).

The company said on Monday that it has reorganized its mixed-use cannabis assets under Harvest Enterprises, LLC. Trulieve now owns non-voting units in Harvest.

If the NYSE later allows companies involved in U.S. recreational cannabis to consolidate, Trulieve can convert its non-voting units into voting units.

At the end of the first quarter of fiscal 2026, Trulieve reported roughly $353 million in cash and continued positive free cash flow generation. It has also completed a $60 million tranche of senior secured notes financing earlier in the year.

TCNNF Price Action

Trulieve’s shares traded 10.92% lower at $11.58 per share after the market close on Tuesday.