Through the combination of signed and closed acquisitions, as well as application victories, Jushi is projecting revenue on a pro forma consolidated basis for 2020 of approximately $200 million
Successfully raised approximately $68.2 million in an oversubscribed private placement
Management to host its earnings conference call on Wednesday, August 14 th at 8:30 a.m. ET
BOCA RATON, Fla. , Aug. 14, 2019 /CNW/ — Jushi Holdings Inc. (“Jushi” or the “Company”) (NEO: JUSH.B), a globally-focused, multi-state cannabis and hemp operator, today reported its financial results for the second quarter ended June 30, 2019. All financial information is provided in U.S. dollars unless otherwise indicated.
“Upon the successful closing of our go-public transaction and the raise of $68.2 million in an oversubscribed private placement, Jushi strengthened its balance sheet and accelerated our growth strategy. My team and I have leveraged our financial and operating expertise and successful investing history in the cannabis space to identify and deploy capital strategically into attractive opportunities in limited license states and jurisdictions,” said Jim Cacioppo , CEO and Chairman of Jushi. “Today, Jushi continues to build its presence across the U.S. through investments and partnerships in key states like California , Nevada , Pennsylvania , Virginia and New York and in the Midwest in both the cannabis and hemp-derived CBD industries. Our growth plan is not limited to the U.S. We are actively evaluating investment opportunities in Europe . We believe we have the capital necessary to substantially execute on our current plan.”
Jushi plans a multi-pronged strategy of purchasing licenses, winning applications, acquiring successful local businesses, introducing new branded products, and capitalizing on the brand equity of its medical and adult-use brands, Beyond/Hello™, The Clinic™, The Lab™, and The Bank™. The Company’s hemp-derived physician-formulated CBD products are in development and new branding is expected to launch in the Fall of 2019.