BOCA RATON, Fla., Feb. 01, 2022 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, is pleased to announce that it has closed an aggregate of 1,000,000 subordinate voting shares at a price of US$3.68 per share for gross proceeds of US$3,680,000 with Kenneth Rosen and group (“Ken Rosen”) in the non-brokered private placement offering (the “Offering”). Mr. Rosen, a long-term, strategic investor in the Company and industry supporter, has participated in several rounds of Jushi financings and is one of its original top ten investors. These additional proceeds follow the previously announced US$10.0 million in proceeds raised from Graticule Asset Management Asia.
We are delighted to see sustained interest from our long-term investors as we close our private placement. As long-time, early investors in Jushi, and highly regarded lenders in the cannabis industry, we are incredibly pleased to have once again secured the support of Ken Rosen and group.
Jim Cacioppo, Chief Executive Officer, Chairman, and Founder of Jushi
Their participation is a strong indication of their renewed confidence in the future of our business. With this additional funding, we remain focused on strengthening our platform and accelerating our growth plans to attract increased institutional backing and engagement.
As of December 31, 2021, the Company’s pro forma cash balance, including proceeds from the Offering, was approximately US$107.7 million. Additionally, the Company’s acquisition facility, pro forma for the previously announced Nevada transactions closings, will have approximately US$63 million of available capacity including the US$25 million accordion feature.
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 our social media channels, Instagram, Facebook, Twitter and LinkedIn.
