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JUSHI HLDGS INC CL B (JUSHF) is a leading company in the cannabis industry, focusing on cultivation, processing, and retail distribution of high-quality products. With a strong financial position and strategic partnerships, JUSHI is at the forefront of innovation and growth in the market.
Jushi Holdings Inc. reported Q3 2022 revenue of $72.8 million, representing a 34.9% year-over-year growth. Sequentially, revenue remained flat. Gross profit increased to $27.7 million, an 18.9% increase year-over-year. However, the company expects a non-cash asset impairment charge between $35.0 to $49.0 million, leading to a net loss of $52.9 to $62.8 million. Cash reserves stood at $31.1 million. Operationally, Jushi opened two new retail locations in Virginia, adding nearly 8,000 new patients in the state during Q3.
Jushi Holdings Inc. (OTCMKTS: JUSHF) commented on the recent gubernatorial election in Pennsylvania, congratulating Governor-elect Josh Shapiro. Jushi expresses eagerness to collaborate on cannabis policy reforms, advocating for expungement of non-violent cannabis possession records and establishing a regulated market. The company emphasizes that legalizing cannabis could spur economic growth, create jobs, and generate significant tax revenue. Jushi's management believes that timely cannabis reform is critical to reducing illicit sales and ensuring public safety.
Jushi Holdings Inc. has announced the opening of its newly relocated Beyond Hello™ Dickson City dispensary in Pennsylvania. The store, situated in a prime economic area at 32 Scranton Carbondale Highway, is set to serve medical cannabis patients starting November 8, 2022. The dispensary features an updated layout with enhanced displays and a wide variety of medical marijuana products, including four in-house brands. The new location aims to provide an exceptional shopping experience with well-trained staff available for customer assistance.
Jushi Holdings, a multi-state cannabis operator, announced participation in several key industry events. Notable appearances include Business of Cannabis New York on November 3, featuring a panel on modern cannabis consumers, and MJBizCon 2022 from November 15-18, where management will engage in discussions on omnichannel marketing strategies and real-life M&A stories. Additionally, CEO Jim Cacioppo will address investor interests at the CannaVest West Institutional Capital Forum on November 16. For further details, contact Jushi’s Investor Relations.
Jushi Holdings (OTCQX: JUSHF) will release its third quarter financial results for the period ending September 30, 2022, before market opening on November 14, 2022. An audio webcast and conference call will occur on the same day at 9:00 a.m. ET to discuss the results. Interested participants can access the call via U.S. toll-free number 1-866-374-5140 or through their Investor Relations website. Jushi is focused on building a multi-state portfolio of cannabis assets.
Jushi Holdings Inc. has launched its new vegan and gluten-free Tasteology Fruit Chews in Massachusetts, with expansion plans to Virginia, Ohio, and Nevada by Q1 2023. Crafted with real fruit purées from Ponthier and developed by a top chef, these chews contain 5mg of THC each, alongside unique terpene blends. The new packaging features a Tarot card theme aimed at reducing waste. This product responds to the increasing demand for edibles, which represented 11% of cannabis sales in 2021, up from 9% in 2020, valued at $2.75 billion.
Jushi Holdings has partnered with Drop4Drop to fund seven clean water projects in Gambia, India, Malawi, Senegal, South Sudan, and Uganda. This initiative aims to provide sustainable access to clean water for over 3,000 people. Jushi emphasizes that clean water is a fundamental human right essential for sanitation, health, and economic stability. The projects will involve local partnerships, education, and community ownership to enhance sustainability.
Jushi Holdings appoints Bill Wafford as an Independent Director and Chair of the Audit Committee. With over 25 years of finance experience, Wafford aims to bolster governance and financial reporting as Jushi transitions into a U.S. reporting issuer. CEO Jim Cacioppo highlighted Wafford's expertise in driving profitability. Additionally, Tobi Lebowitz was promoted to Chief Legal Officer and Corporate Secretary, having contributed significantly to Jushi's public status and strategic initiatives since 2019.
Jushi Holdings announced that Michael Perlman, EVP of Investor Relations, will participate in A.G.P.’s Virtual Fall Consumer Cannabis Conference on October 4, 2022. During the event, he will engage in one-on-one and group meetings with investors to discuss the company's strategies and growth prospects. Jushi is a multi-state cannabis operator focused on building a diverse portfolio of cannabis assets. The company aims to maximize shareholder value while providing high-quality products across the cannabis ecosystem.
Jushi Holdings Inc. (OTCQX: JUSHF) has filed restated unaudited interim financial statements for Q1 2022 with the Canadian securities regulator, correcting errors in previously reported financials prepared under IFRS. The restated financials, which can be accessed on SEDAR, include adjustments to 'Right-of-use assets' and 'Accrued expenses' on the balance sheet and cash flows. Notably, these changes did not impact the cash balance or cash flows for the period ending March 31, 2022.
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