Jushi Holdings Inc. Increases Equity Ownership Interest in Dalitso LLC, the Company’s Majority-Owned, Virginia-Based Pharmaceutical Processor Permit Holder
Jushi Holdings Inc. Increased Equity Ownership Interest in Dalitso LLC to 79%
BOCA RATON, Fla., Nov. 20, 2020 – Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated, multi-state cannabis operator, announced it has purchased an additional 17.235% of the issued and outstanding equity of Dalitso LLC (Dalitso), a Virginia-based pharmaceutical processor. The Company now owns 79% of the issued and outstanding equity of Dalitso.
Dalitso is one of only five applicants to have received conditional approval for a pharmaceutical processor permit issued by the Virginia Board of Pharmacy, and one of only four to have received final approval and permit issuance in the Commonwealth. Dalitso’s permit allows the Dalitso to cultivate, process, dispense and deliver medical cannabis to registered patients in Virginia. The designated area for Dalitso to operate is Health Service Area II, in Northern Virginia. Dalitso has completed the initial build out of its cultivation, manufacturing, and processing footprint while also prefabricating the remaining 90,000 square foot facility in Prince William County, Virginia to allow for efficient scaling as patient demand increases.
The Dalitso seed-to-sale facility will seamlessly integrate our cultivation, manufacturing, processing, and retail capabilities in Virginia.
Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi
Between the expansion of our ownership stake in Dalitso and the enactment of new legislation earlier this year, we will be in a strong early mover position to drive value for our shareowners while serving patients in the most densely populated part of the Commonwealth.
According to the U.S. Census Bureau, Health Service Area II has a population of approximately 2.5 million people or nearly 30% of the state population. This area includes two of Virginia’s most densely populated and highest-income counties, Fairfax County and Prince William County.
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 please visit www.jushico.com or our social media channels, Instagram, Facebook, Twitter and LinkedIn.
Original press release