Jushi Closes Upsized C$40.8 Million Equity Offering

Jushi Holdings Inc. Announces Closing of Offering of Subordinate Voting Shares

BOCA RATON, Fla., Oct. 23, 2020 /CNW/ – Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a globally-focused, multi-state cannabis and hemp operator, announces today the closing of its previously announced overnight marketed offering (the “Offering”) of an aggregate of 11,500,000 subordinate voting shares (the “Offered Securities”) at a price of C$3.55 per share for total gross proceeds of approximately C$40,825,000, which includes the full exercise of the over-allotment option granted to the Underwriters (as defined below).

The Offered Securities were offered in each of the Provinces of Canada, other than Québec pursuant to a prospectus supplement to the Company’s base shelf prospectus dated October 9, 2020 (the “Prospectus”) and in the United States on a private placement basis to “qualified institutional buyers” pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”).

The Company intends to use the net proceeds of the Offering for opportunistic acquisitions and for general corporate purposes.

Canaccord Genuity acted as the sole bookrunner to a syndicate of underwriters for the Offering, including Beacon Securities Limited, Eight Capital and PI Financial Corp. (collectively, the “Underwriters”).

This oversubscribed offering signifies the confidence that our investors have in our ability to prudently deploy capital to accelerate our revenue and profitability.

Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi

I’d like to thank our shareholders for their continued support and look forward to updating the market as we continue to evaluate and pursue complementary M&A opportunities in both existing and new markets.

Copies of the Prospectus may be obtained on SEDAR at www.sedar.com and from Canaccord Genuity Corp., 161 Bay Street, Suite 3000, Toronto, ON M5J 2S1. The Prospectus contains important detailed information about the Company and the Offering. Prospective investors should read the Prospectus and the other documents the Company has filed on SEDAR at www.sedar.com before making an investment decision.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The subordinate voting shares have not been and nor will they be registered under the U.S. Securities Act or any state securities laws. Accordingly, the Offered Securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Jushi Holdings Inc.

We are a globally focused cannabis and hemp company led by an industry leading management team. In the United States Jushi is focused on building a multi-state portfolio of branded cannabis and hemp-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 and hemp ecosystem. For more information please visit www.jushico.com or our social media channels, Instagram, Facebook, Twitter, and LinkedIn.

Original press release


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