Jushi Holdings Inc. Completes Previously Announced Acquisition of Licensed Processor in Ohio; Announces Debut of the First in a Series of Cannabis Brands in Ohio
Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced that it has completed its previously announced acquisition of Franklin Bioscience OH, LLC, (“FBS – OH”), a licensed medical cannabis processor in Ohio. FBS – OH operates an 8,000 sq. ft. state-of-the-art processing facility located in Columbus, Ohio. Additionally, the Company has launched a series of upcoming brands and products in the State of Ohio, beginning with the debut of its brand, Sèche, the Company’s fine flower line, which is currently available for purchase at partner dispensaries across the Buckeye State.
Jushi plans to follow the Sèche brand launch with the debut of Tasteology, the Company’s brand of premium, real fruit, cannabis-infused gummies and tarts, available in the following cannabis-infused gummies flavors: Blueberry Calm, Peach Balance and Mango-Pineapple Boost, and in the following cannabis-infused tarts flavors: Green Apple Balance, Sour Watermelon Boost, Blue Raspberry Calm and Mellow Mint. Jushi’s award-winning vaporization line, The Lab, in the form of .5g and .3g vape cartridges with rechargeable batteries, will also make its official Ohio debut in the coming weeks.
With the Company’s previously announced acquisition of OhiGrow, LLC, one of 34 licensed cultivators in Ohio, and Ohio Green Grow LLC (collectively, “OhiGrow”), Jushi expects to start its first cannabis plants this month at the OhiGrow facility in Toledo, Ohio. Jushi also expects to bring additional Sèche flower product lines, along with its award-winning flower brand, The Bank, to Ohio medical cannabis patients in the first quarter of 2022. Currently, the Company’s Sèche and The Bank brands are available at dispensaries across Nevada and Pennsylvania, and are also expected to launch in Virginia in September of this year.
Jushi Chief Executive Officer, Chairman and Founder Jim Cacioppo commented, “We are cultivating and producing brands in Ohio that are exciting, connective and relevant to Ohio’s medical marijuana patients. Through our continued dedication to research and development, our team has a firm understanding of what our customers and patients are looking for in cannabis products. Jushi’s objective is for our brands and product offerings to not only meet but exceed cannabis consumers’ expectations. From innovative and genetically superior flower lines, to top of the line concentrates and unique edible offerings, our goal is to reinvent, redesign and redefine the cannabis experience.”
About Jushi Holdings Inc.
We are a vertically integrated cannabis company led by an industry-leading management team. In the United States, Jushi is focused on building a multi-state portfolio of branded cannabis assets through opportunistic acquisitions, distressed workouts and competitive applications. Jushi strives to maximize shareholder value while delivering high-quality products across all levels of the cannabis ecosystem. For more information, visit jushico.com or BEYOND / HELLO™ on Instagram and Facebook.
Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current conditions but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, involve estimates, projections, plans, goals, forecasts, and assumptions that may prove to be inaccurate. As a result, actual results could differ materially from those expressed by such forward-looking statements and such statements should not be relied upon. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans,” “expects” or “does not expect,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates” or “does not anticipate,” or “believes,” or variations of such words and phrases or may contain statements that certain actions, events or results “may,” “could,” “would,” “might” or “will be taken,” “will continue,” “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include but are not limited to, information concerning the expectations regarding Jushi, or the ability of Jushi to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has certain expectations and has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward- looking information and statements are the following: the ability of Jushi to successfully and/or timely achieve business objectives, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation, as well as other risks and uncertainties which are more fully described in the Company’s Management, Discussion and Analysis for the three months ended June 30, 2021, and other filings with securities and regulatory authorities which are available at www.sedar.com. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward- looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
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For further information, please contact:
Investor Relations Contact:
Michael Perlman
Executive Vice President of Investor Relations and Treasury
561-281-0247
Investors@jushico.com
Media Contact:
Ellen Mellody
570-209-2947
ellen@mattio.com
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