08:06 AM EDT, 05/30/2024 (MT Newswires) -- Trulieve Cannabis Corp. ( TCNNF ) , a cannabis company in the U.S., that saw its shares drop 4.3% yesterday, announced Thursday that it has reached an agreement resolving the active litigation.

In accordance with the settlement, a statement said Trulieve will acquire Harvest of Ohio, LLC, which will hold licenses for medical cannabis dispensaries in Columbus and Beavercreek. The Harvest of OH medical cannabis dispensary in Athens will be transferred to Ariane Kirkpatrick and will be rebranded under the name Mavuno. Separately, Kirkpatrick will divest ownership of Harvest Grows, LLC and Harvest Processing, LLC, which operate a production facility in Ironton, to unrelated third parties. Trulieve will enter into service agreements to provide operational support to the Ironton production facility. Trulieve will pay an immaterial amount to Kirkpatrick. Other terms of the resolution remain confidential.

Kim Rivers, Trulieve CEO, in Thursday's statement said, "We are happy to announce the resolution of our litigation that triples our footprint in Ohio. We look forward to serving medical patients and adult use customers when permitted."