Jushi Holdings Inc. Debuts Line of Concentrate Products Using Hydrocarbon Extraction Diversifying its Offering of The Lab™ Vape and Concentrate Products

Rhea-AI Summary

Jushi Holdings has launched its first line of hydrocarbon-extracted concentrates under the award-winning brand The Lab™. These products, known as The Lab™ Live Resin, feature high purity and a full spectrum of cannabinoids, maintaining approximately 90% of the cannabis plant’s original cannabinoids. Initially available at Beyond Hello™ locations in Pennsylvania, the company is set to expand to other states like Massachusetts, Virginia, and Nevada. The cannabis extract market is projected to grow from US$9.24B in 2021 to US$42.89B by 2030.

Positive

• Launch of The Lab™ Live Resin concentrates, enhancing product portfolio.
• High purity and full-spectrum extracts maintain 90% of original cannabinoids.
• Projected growth in cannabis extract market from US$9.24B to US$42.89B by 2030.

Negative

• None.

The Lab™ Live Resin’s Full-Spectrum, Aromatic Hydrocarbon Extracts Deliver Precise Effects, Flavorful Terpenes, High Purity and Freshness

BOCA RATON, Fla., June 29, 2022 (GLOBE NEWSWIRE) -- Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, debuted its first line of concentrates made using hydrocarbon extraction by its award-winning brand The Lab™, famous for delivering high-quality, precision vape products and concentrates. The Lab™ Live Resin is the second of several single-source concentrate product lines to be launched by Jushi. Last month, the Company launched its first line of solventless live rosin extracts.

Initially, Jushi will exclusively carry The Lab™ Live Resin 500mg full-spectrum 0.5 gram 510 cartridges at Beyond Hello™ retail locations in Pennsylvania. The Company plans to roll out its hydrocarbon-extracted line at partner dispensaries across the Commonwealth in the coming months, as well as in additional states such as Massachusetts, Virginia and Nevada. The Company also plans to launch a 300mg rechargeable, all-in-one 0.3g vape and a variety of 1 gram jarred cured concentrates in the coming months, pending regulatory approval.

The new hydrocarbon extract products are rich in THC, cannabinoids, terpenes and flavonoids, and include roughly 90% of the plant’s original cannabinoids. The Lab™ Live Resin is produced using Jushi’s next-generation hydrocarbon extraction process utilizing high quality fresh frozen cannabis flower. This extraction process allows for the delicate make-up of the cannabis plant to be maintained so that the strain specific cannabinoids and terpene properties remain fully intact.

“We are thrilled to bring patients some of the purest, high-quality hydrocarbon extracts available in Pennsylvania,” said Jushi Chief Executive Officer, Chairman, and Founder Jim Cacioppo. “As we continue to innovate and roll out some of the best products for a wide range of preferences at accessible price points, we look forward to taking a differentiated approach that delivers an exceptional customer experience.”

As cannabis markets mature and more states come online, the demand for extracted products continues to accelerate. According to leading cannabis market research firm BDSA, the cannabis extract market size was estimated at US$9.24B in 2021 and is projected to increase nearly fivefold, to reach US$42.89 billion by 2030.

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 our social media channels, Instagram, Facebook, Twitter, and LinkedIn.

For further information, please contact:

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

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ae59df41-779c-4a3b-b611-69b726fa2f26

FAQ

What is Jushi Holdings' latest product launch?

Jushi Holdings has launched its hydrocarbon-extracted concentrates, The Lab™ Live Resin.

Where can I find The Lab™ Live Resin products?

Initially, The Lab™ Live Resin will be available at Beyond Hello™ retail locations in Pennsylvania.

What market growth is projected for cannabis extracts?

The cannabis extract market is projected to grow from US$9.24B in 2021 to US$42.89B by 2030.

When will Jushi expand its live resin products to other states?

Jushi plans to roll out its hydrocarbon-extracted line in states like Massachusetts, Virginia, and Nevada in the coming months.

What key features do The Lab™ Live Resin products offer?

These products offer high purity and a full spectrum of cannabinoids, preserving approximately 90% of the cannabis plant's original cannabinoids.