Ever feel like the cannabis industry is just one giant game of musical chairs? Honestly, if you were following the markets a few years back, you probably remember the name True Leaf Medicine International. They were the "it" company for a minute—the ones who figured out that if you want to make money in hemp, you should probably talk to dog owners.
But then, things got quiet. Real quiet.
If you go looking for their ticker symbol today, you’re going to find a bit of a ghost town or a name change that feels like a witness protection program. People still ask what happened to the "True Leaf" they invested in or why their local pet shop suddenly has different branding on the shelves. It’s a wild story of massive expansion, a brutal brush with bankruptcy, and a founder who basically said, "I'm not done yet," and bought his own brand back from the brink.
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The Rise and Fall of the Original Vision
Back in 2013, Darcy Bomford founded True Leaf. He wasn't some tech bro jumping on a trend; the guy had three decades in the pet industry. He saw a gap. While everyone else was trying to figure out how to get humans high legally, he was looking at hemp as a wellness tool for aging Labradors with bad hips.
By 2019, True Leaf Medicine International was flying high. They closed a $4.5 million financing deal with The Lind Partners and had plans for $6 million more. They were building the "True Leaf Campus" in Lumby, British Columbia—a 19,500-square-foot facility meant to be the crown jewel of their cannabis cultivation.
Then, the floor fell out.
The cannabis "green rush" in Canada turned into a bit of a swamp. Regulations were sluggish, and the retail side didn't explode as fast as the spreadsheets predicted. By early 2020, True Leaf was facing a massive liquidity crunch. They missed a payment on their notes in March 2020, just as the world was shutting down for the pandemic.
Bankruptcy and the "Maven" Pivot
In April 2020, the company entered creditor protection. It was a mess. Senior executive contracts were severed, and Darcy Bomford stepped down as CEO. For a while, it looked like the True Leaf brand was going to be sold off for parts.
Actually, the corporate entity did survive, but it doesn't look like True Leaf anymore. If you’re looking at the public company that used to be True Leaf Medicine International, it’s now Maven Brands Inc. * October 2021: The company officially changed its name to Maven Brands Inc.
- The Lumby Facility: Maven kept the big facility in BC, pivoting away from the "global pet brand" dream to focus on craft cannabis processing and cultivation.
- The Stock: If you held TRLFF or MJ.CN, you saw the transition to Maven (MCI), but the value had been decimated by the restructuring.
True Leaf Medicine International: The Brand That Refused to Die
Here is where it gets interesting, and kinda heartwarming if you're a fan of underdog stories.
Most founders would have walked away after a corporate bankruptcy. Darcy Bomford didn't. In 2023, he managed to do something pretty rare: he bought the True Leaf Pet brand back.
Today, the original "True Leaf" spirit lives on through a privately owned company called Trueleaf Petcare Inc. based in Vernon, BC. It’s no longer part of the public Maven Brands entity. It’s back in the hands of the guy who started it in his van 40 years ago.
What the Products Look Like Now
If you go to a Pet Valu today, you’ll still see True Leaf products. They haven't changed the core mission. They are still obsessed with the "Return the Love" slogan.
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The lineup has narrowed to focus on what actually works:
- Hip + Joint Support: Still their bestseller. It uses hemp seed oil and powder, but also adds things like green-lipped mussel and turmeric.
- Calming Support: These are the ones people buy for July 4th or vet visits. They use L-theanine and lemon balm.
- Functional Oils: Basically a way to "supercharge" a bowl of kibble.
The difference now is that they aren't trying to be a massive, multi-national cannabis conglomerate. They’ve gone back to their roots as a premium pet supplement company.
The Confusion with Trulieve (Don't Get These Mixed Up)
Honestly, a lot of the search traffic for True Leaf Medicine International comes from people who are actually looking for Trulieve.
They sound almost identical, but they couldn't be more different. Trulieve is a US-based giant, a multi-state operator (MSO) dominated by Kim Rivers. They are making moves in Florida and Pennsylvania. If you’re reading news about "Trulieve" rescheduling cannabis or opening 200 dispensaries, that has absolutely nothing to do with the True Leaf from British Columbia.
True Leaf (the pet guys) never operated dispensaries. They sold treats to Petco and independent shops.
Is True Leaf Still a Good Investment?
If you are looking at the public markets in 2026, you need to be careful. The "True Leaf" you remember is gone from the boards. Maven Brands (TRLFF) is the remnant, and it’s a penny stock that has struggled with the same headwinds facing all Canadian producers: high taxes and a glut of supply.
The actual pet brand, Trueleaf Petcare Inc., is private. You can't buy shares of it on an app.
Why It Matters for the Industry
The story of True Leaf is a cautionary tale about the "Cannabis 1.0" era. Companies raised millions of dollars based on the idea of hemp being in everything. They built massive facilities before they had the sales to support them.
True Leaf's Lumby facility cost over $11 million to build. That’s a lot of dog treats you have to sell to keep the lights on.
But it also shows that a good brand has "legs." Even after a bankruptcy and a total corporate restructuring, the fact that the pet products are still on shelves in 2026 says something. People trust the formulation even if they don't care about the corporate drama.
Actionable Steps for Consumers and Investors
If you’re still holding old True Leaf shares or just want to buy their stuff for your dog, here’s the ground truth:
- Check your brokerage: If you held True Leaf Medicine International, your shares likely converted to Maven Brands Inc. Check the conversion ratio; it probably wasn't in your favor.
- Look for the NASC Seal: When buying True Leaf treats, make sure you see the National Animal Supplement Council (NASC) seal. It’s the gold standard for pet hemp.
- Follow the Founder: If you want to know where the brand is going, watch Darcy Bomford. He’s the pulse of the company, and his "Trueleaf Petcare" is the one doing the actual innovation now.
- Ignore the Trulieve News: Save yourself the headache. If the news is about US dispensaries, it's not your company.
The era of True Leaf Medicine International as a public cannabis powerhouse is over. But as a niche pet wellness brand? It’s arguably in a healthier spot now than it was during the hype of 2019. It’s leaner, it’s private, and it’s focused on the dogs.
Honestly, that’s probably where it should have stayed all along.
If you're tracking the Canadian cannabis sector, watch Maven Brands for their craft pivot, but keep your eyes on the pet shelves for the real legacy of the True Leaf name. The brand has survived a decade of industry chaos, which is more than most of its 2014-era peers can say.
The real lesson here? Hype is temporary. A product that actually helps an old dog walk better? That’s got staying power.
Reference Sources:
- FTI Consulting Restructuring Archives (True Leaf Brands Inc. / Maven Brands Inc. 2020-2022)
- SEDAR+ Public Filings for Maven Brands Inc. (formerly True Leaf Brands)
- Trueleaf Petcare Inc. Official Corporate Bio (2024-2026)
- National Animal Supplement Council (NASC) Member Directory