Jushi Holdings Inc. Further Expands Nevada Footprint Through Agreement to Acquire Vertically Integrated State Operator

CANNANNEW REPORT

Acquisition Includes Three Retail Dispensaries, a Cultivation Facility and a Product Manufacturing Facility Expands Jushi’s presence in Nevada’s attractive limited license retail market Increases Jushi’s Permitted Licensed Retail Footprint to 39 Dispensaries Nationwide1 Purchase Price of up to US$62.5 Million Represents a ~4.5x multiple on NuLeaf’s full year 2022E EBITDA2 BOCA RATON, Fla., Nov. 17, 2021 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced that it has entered a definitive agreement (the “Agreement”) to acquire NuLeaf, Inc. together with its subsidiaries and affiliated companies (collectively, “NuLeaf”), a Nevada-based vertically integrated operator, for total consideration of up to US$62.5 million (the “Acquisition”). NuLeaf currently operates two high-performing adult use and medical retail dispensaries in Las Vegas, NV (the “Clark Dispensary”), and Lake Tahoe, NV (the “Lake Tahoe Dispensary”), in addition to a 27,000 sq. ft. cultivation facility in Sparks, NV, as well as a 13,000 sq. ft. processing facility in Reno, NV. Additionally, NuLeaf owns a third licensed retail dispensary located directly on Las Vegas Boulevard (the “Las Vegas Strip Dispensary”), expected to become operational in early 2022, subject to regulatory approval and other conditions. Upon completion of the acquisition of NuLeaf, and the previously announced Apothecarium Nevada3 acquisition, Jushi will grow its retail presence to four dispensaries in the $1.0 billion4 Nevada cannabis market, three of which are located in the bustling Las Vegas area. The Company will also bolster its existing cultivation and processing capabilities in the state with the addition of NuLeaf’s high-quality facilities, providing a strategic entry point into the Nevada wholesale market. “We are thrilled to enter into an agreement to acquire NuLeaf, a vertically integrated operator with the potential to significantly increase our presence in the Nevada retail and wholesale markets,” said Jim Cacioppo, Chief Executive…

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Source : Jushi Holdings Inc. Further Expands Nevada Footprint Through Agreement to Acquire Vertically Integrated State Operator

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