Jushi Holdings Inc. Issues Statement on the Cannabis Administration and Opportunity Act
Jushi Holdings supports the Cannabis Administration and Opportunity Act, commending Senators Booker, Wyden, and Schumer for addressing the failures of federal cannabis laws. CEO Jim Cacioppo emphasized the need to rectify past harms associated with cannabis criminalization, advocating for state regulation and fair taxation. He noted that federal decriminalization would eliminate stringent penalties and promote economic opportunities. The proposed amendments for fair taxation would greatly benefit emerging cannabis businesses, enhancing job creation and innovation in the sector.
- Strong support for the Cannabis Administration and Opportunity Act, which could lead to federal decriminalization of cannabis.
- Proposed amendments to federal taxation laws would allow cannabis businesses to access the same tax deductions as other businesses, potentially boosting profitability.
- Advocacy for the expungement of non-violent cannabis convictions could enhance Jushi's public image and community relations.
- None.
BOCA RATON, Fla., July 14, 2021 (GLOBE NEWSWIRE) -- Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated, multi-state cannabis operator, issued the following statement on the Cannabis Administration and Opportunity Act.
Commenting on the act, Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi said:
I commend the U.S. Senators Cory Booker, D-NJ, Ron Wyden, D-OR and Chuck Schumer, D-NY, and their colleagues and staff for taking action to address these important issues and our country’s failed “War on Drugs.”
Our current federal laws cause hard-working Americans harm every day. They are responsible for tearing families apart and preventing otherwise law-abiding citizens from maintaining steady employment and housing. The enforcement of these laws has proven to disproportionately target people of color. They have also never reached their stated goals -- nor are they based on facts or science -- but rather misconceptions -- and it’s time we as a nation comprehensively address these issues.
Giving states the authority to fairly tax, regulate and enforce cannabis while setting clear standards is not only smart public health policy -- it also makes sense both socially and economically for our nation. Federally decriminalizing cannabis would overturn draconian civil and criminal penalties and the threat of asset forfeiture for all Americans.
We fully support redressing past harms, creating opportunity for the future and the expungement of federal non-violent cannabis convictions, resentencing, sentencing review hearings, encouraging states and localities to do the same and making loans more readily available to small businesses. This will help to uplift the communities hardest hit while promoting innovation and job growth for all.
By opening up new possibilities for research and development of cannabis and its compounds, we will greatly increase the potential to positively impact millions of suffering patients and finally provide America with a chance to secure a strong science and R&D leadership position.
Lastly, we were also extremely encouraged by the proposed amendments to our federal taxation laws, which would allow emerging cannabis businesses to take advantage of the same tax deductions that every other similarly situated businesses in the U.S. have access to. These changes would be a game-changer for our emerging industry, which has created hundreds of thousands of livable wage jobs for Americans and opened up a plethora of new opportunities that were previously unavailable.
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-derived 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, please visit www.jushico.com or our social media channels, Instagram, Facebook, Twitter, and LinkedIn.
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 March 31, 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:
Michael Perlman
Executive Vice President of Investor Relations and Treasury
Investors@jushico.com
(561) 453-1308
Media Contact:
Ellen Mellody
MATTIO Communications
Ellen@Mattio.com
(570) 209-2947
FAQ
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