Jushi Holdings Raises $27.46 Million via 10% Debt with Warrants – New Cannabis Ventures

Jushi Holdings Inc. Announces US$27.460 Million Debt Financing Led by Insiders and Founders Insiders and founders have committed US$18.5 million Financing will provide additional working capital to accelerate the investment in growth within each key market and seek to deliver value to shareholders

BOCA RATON, Fla., Dec. 23, 2019 /CNW/ — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a globally-focused, multi-state cannabis and hemp operator, today announced the receipt of binding subscriptions totaling US$27.460 million for 10% senior secured notes (“Notes”) and 5-year common stock warrants (the “Warrants” and collectively, the “Offering”).

This financing demonstrates our continued commitment to the vision and long-term investment opportunity for Jushi as an emerging multi-state cannabis and hemp operating leader.

Jim Cacioppo, Chairman and CEO of Jushi Holdings Inc

The additional working capital will support the organic build out of operations in our key existing markets including Pennsylvania, Nevada, Ohio, Illinois, California and Virginia, with additional growth opportunities through our application pipeline, well into 2021.

The Company expects all funds to be received by early January. All notes will mature on January 15, 2023 and will bear interest from their date of issue at 10.0% per annum payable in cash quarterly. Jushi’s obligations under the Notes are secured by the assets of Jushi and certain of its Subsidiaries (subject to certain exclusions) and are guaranteed by certain Subsidiaries. The purchasers of the Notes will also receive Warrants to acquire Class B subordinate voting shares of the Company at 75% coverage with an expiry date of December 23, 2024, at an exercise price equal to US$1.58 (~CAD$2.08 as of 12/23/19), which is equal to a 25% premium to the volume weighted average price (vwap) for the prior 20 trading days ending December 20, 2019. An

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