Jushi Holdings Inc. To Acquire Its First Operating Adult-Use Location In California Through The Acquisition Of A San Diego Dispensary
The San Diego dispensary is strategically located off the I-8 Freeway with the ability to offer delivery in San Diego and neighboring cities
BOCA RATON, Fla., July 4, 2019 /CNW/ — Jushi Holdings Inc. (“Jushi” or the “Company”)(NEO: JUSH.B), a globally-focused, multi-state cannabis and hemp operator, today announced it has signed a definitive agreement to acquire its first operational adult-use and medicinal dispensary in San Diego.
The California market is a core part of our growth strategy with a very sizable addressable market that, to put in perspective, is larger than Canada.
Jushi CEO and Chairman, Jim Cacioppo
Jim continued, San Diego, specifically, is a market that we have strategically chosen to establish our footprint in due to the limited nature of the licenses and restrictive zoning. Our partners in San Diego have built a fantastic store with a loyal customer base, which offers consumers a wide variety of high-quality products, is easily accessible off the highway and offers a well-located springboard for future delivery to San Diego and neighboring cities. We view this partnership as one of many sought by Jushi throughout California and, together with previously announced transactions, pending applications, and future expansion in the state, we look forward to continued announcements in due course.
California has nearly 40 million residents and the longest-running medical cannabis program in the country. San Diego is the second largest city in California with a population of approximately 1.4 million and over 35 million visitors each year. San Diego is also a limited license market with a maximum of 36 total retail cannabis licenses divided among 9 council districts. To date, 19 retail cannabis licenses have been issued