Jushi Holdings Inc. Announces Upcoming Launch of Flower Brands, The Bank and Sèche in Virginia as Commonwealth’s Flower Sales Begin

Rhea-AI Summary

Jushi Holdings has launched a new cannabis delivery pilot program in Virginia. The company received approval from the Virginia Board of Pharmacy to sell two new flower brands, The Bank and Sèche, to registered medical patients. The Bank features three product lines: Gold Standard, Cache, and Vault, while Sèche offers fine grind, fine flower, and pre-rolls. Jushi aims to expand its retail footprint in Virginia, enhancing patient access to cannabis products. The successful pilot delivery program has led to increased demand, prompting expansion initiatives.

Positive

• Approval received to sell The Bank and Sèche flower brands to Virginia patients.
• Successful launch of the delivery pilot program increasing patient accessibility.
• Expansion plans for additional retail locations in Virginia.

Negative

• None.

Company Introduces New Cannabis Delivery Pilot Program

BOCA RATON, Fla., Sept. 14, 2021 (GLOBE NEWSWIRE) -- Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced the upcoming launch of two flower brands in the Commonwealth: The Bank and Sèche.

Jushi has received the Virginia Board of Pharmacy (“BOP”) approval to begin selling its premium flower brand, The Bank, and its value flower brand, Sèche, to Virginia patients. The Bank, an award-winning flower brand known for its superior plant genetics, initially offers pre-packaged flower to registered Virginia cannabis patients in three-tiered lines: Gold Standard, Cache and Vault. The Bank is currently available for purchase at BEYOND / HELLO™ Manassas, the Company's 15 Pennsylvania BEYOND / HELLO™ locations and partner dispensaries in Pennsylvania and Nevada. Sèche, Jushi’s fine grind, fine flower and pre-rolls brand, is also available for purchase at BEYOND / HELLO™ Manassas, the Company's 15 Pennsylvania BEYOND / HELLO™ locations and partner dispensaries in Pennsylvania, Ohio and Nevada. Jushi will continue to roll out its in-house flower brands to additional BEYOND / HELLO™ Virginia locations as they open, and to partner dispensaries in the Commonwealth in the coming weeks and months.

Jushi Chief Executive Officer, Chairman and Founder Jim Cacioppo commented, “We thank the Virginia Board of Pharmacy for not only being a trusted partner, but also for their commitment to expanding the variety of safe, legal and tested cannabis products accessible to Virginia’s medical cannabis patients. We are very excited to announce that flower is now available to medical cannabis patients in Virginia. Since we began serving patients at our BEYOND / HELLO™ Manassas dispensary in December 2020, we have focused on driving improved patient experiences and offering the best possible assortment of products in the market, including our own vaporization cartridges and cannabis-infused chewables. With the introduction of flower, we are not only enhancing the product assortment and increasing the number of choices available for our patients, but also offering them the most in-demand medicinal cannabis products across all product lines.”

Mr. Cacioppo added, “As we expand access to flower for Virginia medical cannabis patients at our BEYOND / HELLO™ Manassas, and soon to be opened Sterling location, we look forward to executing on our plan to expand our footprint in the Commonwealth by opening additional BEYOND / HELLO™ retail stores, optimizing our cultivation and manufacturing assets, as well as meeting growing patient demand.”

As part of the plan to meet growing patient demand, in the second quarter of 2021, Jushi introduced a pilot delivery program that serves patients from its BEYOND / HELLO™ Manassas dispensary. Since rolling out the program, the Company has seen a meaningful increase in demand for delivery services. As a result, the Company expanded its delivery program to meet the rise in demand and improve accessibility for BEYOND / HELLO Manassas™ patients.

Earlier this month in Virginia, Jushi debuted its brand, The Lab, in the form of .5g and .3g vaporizable cartridges and its brand, Tasteology, a cannabis-infused chewables line. The Company is also expected to launch Nira + Medicinals, a suite of tinctures, capsules, softgels and topicals, in Virginia in the coming weeks. Please visit BEYOND / HELLO™ Virginia to see what brands are available and at what locations the brands can be purchased in the Commonwealth of Virginia.

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.

Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current conditions but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, involve estimates, projections, plans, goals, forecasts, and assumptions that may prove to be inaccurate. As a result, actual results could differ materially from those expressed by such forward-looking statements and such statements should not be relied upon. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans,” “expects” or “does not expect,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates” or “does not anticipate,” or “believes,” or variations of such words and phrases or may contain statements that certain actions, events or results “may,” “could,” “would,” “might” or “will be taken,” “will continue,” “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include but are not limited to, information concerning the expectations regarding Jushi, or the ability of Jushi to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has certain expectations and has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward- looking information and statements are the following: the ability of Jushi to successfully and/or timely achieve business objectives, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation, as well as other risks and uncertainties which are more fully described in the Company’s Management, Discussion and Analysis for the three months ended June 30, 2021, and other filings with securities and regulatory authorities which are available at www.sedar.com. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward- looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

For further information, please contact:

Investor Relations Contact:
Michael Perlman
Executive Vice President of Investor Relations and Treasury
561-281-0247
Investors@jushico.com

Media Contact:
Ellen Mellody
570-209-2947
ellen@mattio.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/55c01014-4ae1-4d43-88fa-fca69d480cba

FAQ

What new products has Jushi Holdings launched in Virginia?

Jushi Holdings has launched two new flower brands: The Bank and Sèche, approved for sale to Virginia medical cannabis patients.

How has Jushi's delivery pilot program performed?

The delivery pilot program has seen a meaningful increase in demand, leading to an expansion of the service.

When did Jushi receive approval from the Virginia Board of Pharmacy?

Jushi received approval on September 14, 2021, to sell its new flower brands in Virginia.

What is the significance of The Bank flower brand?

The Bank is an award-winning flower brand known for its superior plant genetics and offers a variety of product lines for patients.

What are Jushi's future plans in Virginia?

Jushi plans to open additional BEYOND / HELLO retail stores and optimize cultivation assets to meet growing patient demand.