Jushi Holdings Inc. Expands Retail Footprint in California Signs definitive agreements to acquire an operating dispensary in Palm Springs and a retail license holder in Grover Beach Entered into a long-term lease agreement and plans to commence construction in Culver City
BOCA RATON, Fla., January 14, 2021 – Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated, multi-state cannabis operator, announced that it has entered into a definitive agreement to acquire 100% of the equity of Organic Solutions of the Desert, LLC (“OSD”), an operating dispensary located in Palm Springs, California, and approximately 78% of the equity of a retail license holder located in Grover Beach, California with the rights to acquire the remaining equity in the future (the “California Dispensary Acquisitions”). Jushi is also moving forward in the merit-based application process as one of only three selected applicants for a storefront retail (and ancillary delivery) permit in Culver City, California. On December 17, 2020, one of the Company’s subsidiaries entered into a long-term lease agreement for a bespoke, ground-up build. The closing of the California Dispensary Acquisitions, and the Company’s opening of a storefront retail (and ancillary delivery) dispensary in Culver City, are subject to state and local regulatory approvals. The three new locations will be in addition to the Company’s BEYOND / HELLO™ Santa Barbara store, which opened in October 2020.
We are thrilled to continue the expansion of the BEYOND / HELLO™ retail brand in California with the addition of three premier locations. We will continue to target and evaluate attractive, limited license market opportunities in California for potential investment and expansion.
Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi
I am excited to bring our customer-first approach to new markets and look forward to serving the local residents