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Jushi Inc Awarded New York State Industrial Hemp License and Commits to Invest in Upstate New York
February 4, 2019 – Sound Wellness LLC (“Sound Wellness”), a subsidiary of Jushi Inc (“Jushi” or the “Company”), has received approval of its industrial hemp-CBD processor license application as part of the New York State Industrial Hemp Agricultural Research program, administered by the New York State Department of Agriculture and Markets. With this announcement, Jushi is proud to support the Western New York community, New York farmers, and the nation’s premier industrial hemp program. Sound Wellness’ hemp-CBD processor license supports the Company’s initiative to create product innovations centered around the untapped potentials of hemp.
By investing over $5 million in a high-tech hemp processing operation on the east side of Buffalo, NY, Jushi expects to create approximately 30-65 jobs in the area. The facility will house a state-of-the-art lab, allowing Sound Wellness to create advanced product formulations using CBD distillate, CBD isolate, and water-soluble CBD.
Sound Wellness and Jushi are committed to providing the highest quality, non-GMO, GMP certified, kosher, halal, gluten free and vegan hemp-based extracts and products at accessible and affordable prices to consumers. In this respect, Sound Wellness is preparing to produce and launch a physician-formulated line of hemp-derived CBD products under the “MEND” brand name developed by board certified neurologist and pain management specialist Dr. Laszlo Mechtler, Medical Director of the DENT Neurologic Institute and Jushi’s Medical Director.
The MEND product line will initially be available on site at the DENT Neurologic Institute at a discount to its patients. Dr Mechtler stated, “Jushi’s involvement in CBD production is a game changer for patients. Not only will this offer improved quality products but will also address the major obstacle that patients have —which to date, has been the current high-cost of medical cannabis and unreliable quality of hemp-derived CBD products. Sound Wellness’s plan is anticipated to allow DENT’s cannabis research team to facilitate high-quality product development supporting clinical research to find appropriate dosages of CBD. At the end of the day this is expected to legitimize the integration of therapeutic, cannabinoid-based products into conventional provider-driven care and give comfort to patients and practitioners that patients are using safe, physician-tested products.” Sound Wellness products, including MEND products, are expected to be launched in retail locations and available via ecommerce throughout the United States and abroad in 2019.
We are proud and grateful to be one of the chosen hemp-CBD processors through the New York State Department of Agriculture’s rigorous selection process. The priorities of service, compassion and access to top-quality, physician-tested alternative therapies are part of the foundation of our organization. We look forward to strengthening the health and economic vitality in Western New York, while addressing unmet needs of health-concerned customers seeking natural but safe alternatives to supplement conventional therapies.
Jim Cacioppo, CEO and Chairman of Jushi Inc.
These are all central to the mission and goals of our organization and reaffirm our commitment to provide hemp products of superior quality to improve the lives of patients and consumers around the world as we grow our vertically integrated operations this year. Consistent with our efforts, our processing facility will be state-of-the-art, and our products will ensure consumers can rely on getting products made using only the best manufacturing and testing standards that result in the most trusted hemp products available.
Sound Wellness is also in discussions with local area farmers to secure an additional 500,000 pounds of hemp to fuel its operations in late 2019 and 2020.
Dr. Laszlo Mechtler, MD, FAAN, FASN, FEAN
Dr. Mechtler serves as Chief of Neuro-Oncology at the Roswell Park Cancer Institute, a Professor of Neurology and Neuro-Oncology at the State University of New York at Buffalo, Medical Director of the DENT Neurologic Institute, Director of the Headache/Neuro-Oncology Center at DENT and Director of the DENT Cannabis Clinic.
Dr. Mechtler has been a pioneer in New York’s Medical Marijuana program and has performed years of invaluable retrospective clinical research on the efficacy of cannabinoid treatment for several debilitating medical conditions. He is a globally recognized leader in his field and been a long-time advocate for improved patient access to safe, pharmaceutical-grade medical cannabis within the traditional healthcare delivery system. Dr. Mechtler was the keynote speaker at the 2018 American Medical Marijuana Physicians Association (AMMPA) Annual Meeting and is slated to be the first physician to address the American Academy of Neurology on the use of medical cannabis at the Academy’s annual meeting in May, 2019.
About the DENT Neurologic Institute
The DENT Neurologic Institute is a private practice group focused on neurologic specialties and state-of-the-art neurodiagnostics. It is one of the most comprehensive neurologic centers in the United States and has been providing cutting edge, compassionate care from its headquarters in Western New York for more than fifty-five years.
Jushi and its industry leading management team is building an integrated multi-state owner and operator of cannabis and hemp licenses across the United States. Jushi is focused on continuing to build a diverse multi-state portfolio of branded cannabis and hemp-derived assets through opportunistic investments and by internally pursuing licenses in attractive jurisdictions. Jushi strives to maximize shareholder value while delivering high quality products across all levels of the cannabis and hemp ecosystem.
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