Jushi Opens 36th Dispensary Nationwide and First Retail Location in Ohio

Rhea-AI Summary

Jushi Holdings Inc. has announced the opening of its 36th retail location, marking its first medical cannabis dispensary in Ohio. The new store, Beyond Hello™ Cincinnati, opens on January 12th, 2023, and is strategically located near major routes and attractions, targeting the growing medical cannabis market. With this launch, Jushi expands its vertically integrated operations, now operating in five states. The Ohio medical cannabis market recorded over 323,000 registered patients and $1.14 billion in product sales as of January 2023.

Positive

• Opening of the 36th retail location and first in Ohio, increasing market presence.
• Strategically located near major routes and attractions, potentially boosting foot traffic.
• Expands vertically integrated operations to five states, enhancing business stability.
• Availability of four in-house brands in the Ohio market, boosting product offerings.

Negative

• None.

A Media Snippet accompanying this announcement is available by clicking the image or link above.

Establishes Fifth Vertically Integrated State-Level Operation

BOCA RATON, Fla., Jan. 10, 2023 (GLOBE NEWSWIRE) -- Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced the opening of its 36^th retail location nationwide, its first Ohio medical cannabis dispensary as well as its fifth vertically integrated state-level operation. Beyond Hello™ Cincinnati will begin serving medical cannabis patients and registered agents on Thursday, January 12^th at 9:00 a.m. Beyond Hello™ Cincinnati is located at 693 Old State Route 74 in Cincinnati and is open Monday through Saturday from 9:00 a.m. to 8:00 p.m. and Sunday from 10:00 a.m. to 6:00 p.m.

“Beyond Hello™ Cincinnati marks the opening of our first retail location in Ohio and Jushi’s fifth vertically integrated state, with the Buckeye State now joining Pennsylvania¹, Virginia, Massachusetts and Nevada,” said Jushi Chief Executive Officer, Chairman and Founder Jim Cacioppo. “Our store in Cincy brings the full Jushi omnichannel retail experience to Ohio, delivering a safe, accessible, and efficient experience to patients that allows them to shop both in-store and online. We look forward to increasing the accessibility of medical cannabis in this growing medical market and further expanding our footprint in key areas across the Buckeye State.”

Home to more than 200,000 residents² in Clermont County, the new dispensary location is a five-minute drive from EastGate Mall and the Cincinnati Nature Center, which attracts more than 200,000 visitors annually³. It is situated close to two major routes, Route 275 and Route 32, as well as several big-box stores along Route 74. In addition, Beyond Hello™ Cincinnati is surrounded by local museums, historic sites, parks, breweries, wineries, and golf courses, and located approximately 20 miles east of major tourist sites such as Paul Brown Stadium, Newport Aquarium and Cincinnati Zoo & Botanical Gardens.

Currently, four of Jushi’s in-house brands are available in the Ohio medical cannabis market, including: Sèchè, its flower line; Tasteology, a brand of premium, real fruit, cannabis-infused gummies; The Lab, a high-quality vaporization line; and its award-winning flower brand, The Bank.

The new store opening comes after the Company announced that Campbell Hill Ventures, LLC, the Company’s 100% owned subsidiary, was awarded a provisional medical marijuana dispensary license (the “License”) by the Ohio Medical Marijuana Control Program in May.

The Ohio medical cannabis program is a limited license market with distinct cultivation, processing, and retail licenses. The Ohio Medical Marijuana Control Program reported 323,968 registered medical patients as of November 2022, and $1.14 billion in total medical cannabis product sales as of January 1, 2023.

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.

Forward Looking Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation as well as statements that may constitute “forward looking statements” within the meaning of the Private Securities Litigation Act of 1995 Section 27 A of the Securities Act, and Section 21 E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this press release, including statements regarding our strategy, future operations, intended expansion of our retail operations and production capacity, intended expansion of our cultivation facilities, future financial position, projected costs, prospects, plans and objectives of management, including without limitation Q4 2022 annualized guidance, as well as expected filings, materiality or significance and effects of errors on current or prior period financial statements, and any anticipated conclusions of the Company, the Audit Committee or the Company’s management related thereto, are forward-looking statements. 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.  Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including risks related to 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. 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. The foregoing list of risk factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Jushi Holding Inc.’s prospectus filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 12, 2022, its Form 10-Q filed with the SEC on September 26, 2022, its Management Discussion & Analysis filed on SEDAR on September 26, 2022, and other documents filed or to be filed with the SEC (www.sec.gov) and/or on SEDAR (www.sedar.com).

There may be additional risks that Jushi Holdings Inc. does not presently know or that Jushi Holdings Inc. currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. 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, readers are cautioned not to put undue reliance on forward-looking statements, and Jushi Holdings Inc. assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Jushi Holdings Inc. does not give any assurance that it will achieve its expectations.  All written 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:
Lisa Forman
Director of Investor Relations
617-767-4419
investors@jushico.com

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

¹ By way of its affiliated subsidiaries.
² United States Census Bureau, as of July 1, 2021
³ Cincinnati Nature Center Website 

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/76533911-0fab-435a-8cd4-ebff02f48e54

https://www.globenewswire.com/NewsRoom/AttachmentNg/dd28d2d5-b0de-484e-b24c-8215281bb965

https://www.globenewswire.com/NewsRoom/AttachmentNg/bbe0f2e9-ea72-4763-b9dd-e800ca2ec791

FAQ

What is Jushi Holdings' new retail location in Ohio?

Jushi Holdings has opened its first medical cannabis dispensary in Ohio, named Beyond Hello™ Cincinnati.

When did Beyond Hello™ Cincinnati open?

Beyond Hello™ Cincinnati opened on January 12th, 2023.

How many retail locations does Jushi Holdings have nationwide?

Jushi Holdings now has a total of 36 retail locations nationwide.

What is the significance of Jushi's expansion into Ohio?

The expansion into Ohio marks Jushi's fifth vertically integrated state operation, increasing its footprint in the growing medical cannabis market.

What are the sales figures for Ohio's medical cannabis market?

As of January 1, 2023, Ohio's medical cannabis market reported $1.14 billion in total product sales.