Jushi Holdings Inc. Announces Listing of 10% Senior Secured Notes Due January 15, 2023 on the Canadian Securities Exchange
BOCA RATON, Fla., Dec. 01, 2020 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated, multi-state cannabis operator, announced today that the Company has listed for trading on the Canadian Securities Exchange $76,352,000 of 10% senior secured notes due January 15, 2023 (the “Public Notes”). The Public Notes are listed under the symbol “JUSH.db”.
The Public Notes were issued to certain holders of the Company’s existing 10% senior secured notes due January 15, 2023 (the “Private Notes”, and together with the Public Notes, the “Notes”) who elected to exchange their Private Notes for Public Notes in the same principal amount (the “Exchange”). Holders of Private Notes representing an aggregate principal amount of $76,352,000 elected to participate in the Exchange, which occurred on December 1, 2020. Holders of Private Notes representing an aggregate principal amount of $6,975,000 elected to retain their Private Notes. An aggregate of approximately $83,327,000 of Public Notes and Private Notes remain outstanding.
The Notes bear interest at 10% per annum, payable quarterly on March 31, June 30, September 30 and December 31 of each year to, but excluding, the maturity date of the Notes. The first Interest payment date for the Public Notes will be December 31, 2020 for the stub period from December 1 to, and including, December 31, 2020.
The Company’s obligations under the Notes are secured by the assets of the Company and certain of its subsidiaries (subject to certain exclusions) and are guaranteed by certain of the Company’s subsidiaries. The Public Notes were issued pursuant to the terms of a trust indenture between the Company and Odyssey Trust Company, as trustee, dated as of November 20, 2020, which is available under the Company’s profile on SEDAR at www.sedar.com.
We’re excited to provide our investors that hold our notes with the opportunity to have such notes listed and traded on the Canadian Securities Exchange and would like to sincerely thank them for supporting Jushi’s vision as we build the leading vertically integrated multi-state operator.
Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi
With the capital that we have raised to date, we have strategically expanded into high-quality, high-growth markets and are well positioned to accelerate our momentum as we head into 2021.
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 please visit www.jushico.com or our social media channels, Instagram, Facebook, Twitter, and LinkedIn..
