Jushi Holdings Inc. Completes Acquisition of Las Vegas, Nevada Dispensary and Establishes Fourth Vertically Integrated State-Level Operation
- The Apothecarium1 in Las Vegas Marks Jushi’s First Dispensary in The State of Nevada
- Expands Permitted Licensed Retail Footprint to 39 Locations Nationwide2
BOCA RATON, Fla., March 17, 2022 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced it has closed its previously announced acquisition of 100% of the equity interest of an entity operating an adult-use and medical retail dispensary under the name The Apothecarium in Las Vegas, Nevada (“Apothecarium Nevada”). The acquisition of Apothecarium Nevada, together with the April 2021 purchase of Franklin Bioscience NV, LLC, a holder of medical and adult-use cannabis cultivation, processing, and distribution licenses, enabled Jushi to become vertically integrated in Nevada, as well as provide significant branding exposure for the Company’s high-quality product lines, including The Bank, The Lab, Tasteology, and Sѐchѐ. Nevada represents Jushi’s fourth vertically integrated state, accompanying Pennsylvania (by way of its affiliated subsidiaries), Virginia, and Massachusetts.
We are excited to add Apothecarium Nevada to our growing retail network, marking our first Nevada dispensary, located off the iconic Las Vegas strip. This acquisition, along with the previously announced NuLeaf, Inc. acquisition, which is expected to close early second quarter of 2022, represents a major step forward in executing our strategic growth plans in Nevada.
Jim Cacioppo, Chief Executive Officer, Chairman, and Founder of Jushi
We look forward to unlocking strategic retail and wholesale opportunities in this market, including expanding access to our in-house, high-quality brands and products with our newly cemented vertically integrated model. Also, we are eager to work with Apothecarium Nevada’s management team to continue to redefine the retail experience for a truly global group of consumers in one of the largest cannabis markets in the U.S.
The Apothecarium Nevada
Located at 7885 W Sahara Ave #112, Las Vegas, NV, Apothecarium Nevada is approximately 6.5 miles west of the Las Vegas Strip. Las Vegas is one of the top tourist destinations in the U.S. drawing over 42 million tourists3 each year, making Nevada one of the most popular states for tourism. Las Vegas is an internationally renowned resort city known for gambling, entertainment, shopping, and nightlife, attracting visitors worldwide year-round. Apothecarium Nevada neighbors Summerlin, a master-planned community with nearly 100,000 residents that currently prohibits dispensaries from operating. The dispensary is also located approximately 20 minutes from popular resorts and attractions and offers consumers a variety of convenient shopping options, including online, in-store, drive-thru, curbside pick-up and at-home delivery.
1 “The Apothecarium” name is licensed from an affiliate of TerrAscend Corp.
2 Includes an awarded conditional dispensary license where Jushi owns 49%, and three retail dispensaries, two of which are operational, as part of the Agreement to acquire NuLeaf, Inc.
3 Source: Las Vegas Convention and Visitors Authority (LVCVA)
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 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, visit jushico.com or BEYOND / HELLO™ on Instagram and Facebook.