JUSHI HLDGS INC CL B - JUSHF STOCK NEWS

Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF) has announced significant changes in its executive compensation structure. The company's board has approved replacement options for several key figures: 5,385,000 for CEO Jim Cacioppo, 2,383,000 for other executive officers, and 394,758 for non-employee directors. Additionally, CFO Michelle Mosier received 300,000 new options.

In a notable development, CEO Jim Cacioppo has agreed to waive his 2024 annual bonus of $950,000 in exchange for a package including a $237,500 cash payment, $1,381,551 in 12% second lien notes, and options to purchase 1,062,732 subordinate voting shares at $0.65 per share. This agreement aims to help Jushi manage near-term working capital requirements.

Jushi Holdings Inc. (OTCQX: JUSHF) has announced an option replacement program for certain senior management employees and independent directors. The program aims to realign incentives by canceling existing options with high exercise prices and reissuing them at current market prices. A total of 9,136,758 options, representing 34.7% of outstanding options, are eligible for the program.

CEO Jim Cacioppo has agreed to participate in the program and amend his employment agreement. He will cancel 5,385,000 options and waive his 2024 long-term incentive entitlement. In return, Cacioppo will receive 5,385,000 new options with revised vesting terms.

The company believes this initiative will better align the interests of senior management and the board with shareholders as they work to increase value.

Jushi Holdings Inc. (OTCQX: JUSHF) reported its Q2 2024 financial results, showing improved margins and reduced losses. Key highlights include:

- Total revenue of $64.6 million, down 2.8% year-over-year
- Gross profit of $32.6 million with a 50.4% margin
- Net loss reduced to $1.9 million from $14.0 million in Q2 2023
- Adjusted EBITDA increased to $14.5 million with a 22.4% margin
- Launched 308 new high-margin SKUs across five markets
- Expanded Jushi-branded product sales to 55.9% of total retail revenue
- Completed refinancing of first lien debt and reduced short-term debt

The company attributed its improved performance to operational efficiencies, cost-saving measures, and a successful commercialization strategy. Jushi also strengthened its balance sheet post-quarter by reducing debt and enhancing financial flexibility.

Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF) has successfully refinanced its existing US$53 million senior secured credit facility due December 31, 2024, with a new US$48.5 million Term Loan. The Term Loan, issued at a 2.0% original issuance discount, bears a 12.25% annual interest rate and matures in 30 months or 91 days prior to the maturity of the Company's existing Second Lien Notes due December 7, 2026.

Key features of the refinancing include:

• No debt maturities until 2026
• Five-year Warrants at 40% coverage with a US$1.00 exercise price
• Approximately US$19 million in cash, cash equivalents, and restricted cash as of July 31, 2024
• Less than US$1 million in short-term debt subject to scheduled repayments

The refinancing strengthens Jushi's balance sheet and demonstrates the company's commitment to deleveraging while securing attractive capital costs in the current credit environment.

Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, has announced the date for its second quarter 2024 financial results report. The company will release its financial results for the quarter ended June 30, 2024, after market close on Wednesday, August 7, 2024. Following the release, Jushi will host a conference call and audio webcast at 4:30 p.m. ET on the same day to discuss the results.

Interested parties can join the conference call using the toll-free number 1-877-407-0792 (U.S. & Canada) with the Conference ID 13747162. For those unable to attend the live call, a webcast will be available for one month following the event on Jushi's Investor Relations website.

Jushi Holdings, a multi-state cannabis operator, announced the results of its annual general meeting held on June 4, 2024. Shareholders voted to fix the number of directors at five. All five director nominees were elected, with James A. Cacioppo receiving 97.568% votes in favor. Macias Gini & O'Connell LLP was appointed as the auditor, with 98.864% votes in favor. The 2019 Equity Incentive Plan was approved and renewed with 94.616% votes in favor. Key decisions were made with significant shareholder support, indicating strong confidence in the company's leadership and strategic direction.

Jushi Holdings Inc. reported a first-quarter net loss of $18.4 million, with an expanded gross profit margin of 49.4%. Adjusted EBITDA and margin improved to $13.3 million and 20.4%, respectively. The company launched 443 new SKUs, increased Jushi-branded product sales, and continued debt reduction efforts. Post-quarter developments include senior management team enhancements and further debt reduction. Key financial highlights include total revenue of $65.5 million, net cash flow from operations of $6.5 million, and cash equivalents of $30.6 million. The company plans to accelerate product development, optimize operations, and capitalize on high-growth markets.