Jushi Holdings Inc. Announces Provisional License for Medical Cannabis Cultivation in Portugal – GlobeNewswire

BOCA RATON, Fla., Nov. 09, 2020 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a globally-focused, multi-state cannabis and hemp operator, announced that Jushi Europe SA (“Jushi Europe”), a European-based, internationally-focused medical cannabis operator, 51%-owned by the Company, was granted a provisional license (the “pre-license”) from INFARMED, I.P., the Portuguese National Authority for Medicines and Health Products (“INFARMED”) through its 100%-owned Portugal-based subsidiary JPTREH Unipessoal Limitada (“Jushi Portugal”).Jushi Europe was established in March 2020 to develop Jushi’s international expansion strategy. Jushi Europe is led by Daniel Swasbrook, President of Jushi Europe, who brings over 20 years of international finance experience, and Jeff Purcell, who joined as Chief Operating Officer of Jushi Europe in March 2020 and was previously Senior Vice President at Organigram Holdings.The pre-license grants conditional approval for Jushi Europe to import, cultivate and export medical cannabis from its planned greenhouse cultivation facility, which the Company intends to build near the City of Beja in southern Portugal (“the Beja facility”).The Beja facility will be constructed with a ‘closed environment,’ offering the environmental control of indoor cultivation and the sun utilization of outdoor cultivation, allowing Jushi Europe to sustainably produce high-quality EU-GMP certified medical cannabis. The Company is intensely focused on environmental sustainability, planning to install solar panels on the roof of non-greenhouse areas and a system that removes, collects, treats and recycles water in the air from the dehumidification process.Once the final license is granted, Jushi Europe will commence exporting EU-GMP medical cannabis to licensed foreign importers, in accordance with INFARMED guidelines.Management CommentaryJim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi, commented, “We see immense potential for medical cannabis in Europe, given the region’s growing acceptance of cannabis for therapeutic use and the early stages of existing medical programs. According to Prohibition

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