Jushi Holdings Inc. Acquires Remaining Equity Interests in Agape Total Health Care Inc, a Pennsylvania Medical Marijuana Dispensary Permit Holder
- Jushi Has Now Become the 100% Equity Owner of All of Its Retail and Grower-Processor Subsidiaries in Pennsylvania, Illinois, and Virginia
- Currently Operates 16 Stores Nationally
- Holds the Rights to Open an Additional 16 Stores Nationally and Expects to Open 10 to 12 Stores in 2021
BOCA RATON, Fla., Jan. 26, 2021 — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated, multi-state cannabis operator, announced it completed the acquisition of the remaining 20% of the equity interests of Agape Total Health Care Inc (“Agape”), a Pennsylvania dispensary permittee. The Company now owns 100% of the equity interests in Agape, which operates one retail location in Reading, Pennsylvania with plans to open two additional locations, one in Philadelphia and one in Pottsville. In total, Jushi’s subsidiaries currently operate ten dispensaries in Pennsylvania, eight of which are branded under the Company’s BEYOND/HELLOTM retail brand, with the remaining two locations expected to complete rebranding to BEYOND/HELLOTM within the next few weeks.
We are very excited to announce that we now own 100% of the equity in our retail and grower-processor subsidiaries in Pennsylvania. The rapidly growing Pennsylvania cannabis market is a strategic focus area for Jushi, and the Company’s goal has always been to consolidate its ownership positions.
Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi
Through our retail brand BEYOND/HELLO, we have developed a reliable, replicable model for high-quality retail experiences, backed by deep consumer insights. With our strong balance sheet, we’re committed to expanding our footprint in each of the markets we serve and look forward to continuing to provide our patients and consumers a best-in-class customer experience.
Jushi and its subsidiaries hold the rights to open 16 new dispensaries¹ throughout the states the Company operates and anticipates opening between 10 and 12 of these new locations in 2021. With the acquisition of the remaining equity interests of Agape, the Company now owns 100% equity interests of their retail and grower-processor subsidiaries in Pennsylvania, Illinois and Virginia.
1 Includes two locations under definitive agreement
About Jushi Holdings Inc.
We are a vertically integrated cannabis company led by an industry leading management team. In the United States, Jushi is focused on building a multi-state portfolio of branded cannabis-derived assets through opportunistic acquisitions, distressed workouts, and competitive applications. Jushi strives to maximize shareholder value while delivering high quality products across all levels of the cannabis ecosystem. For more information, please visit https://www.jushico.com/, https://twitter.com/wearejushi and https://linkedin.com/company/jushi-inc.