Latest news with #JimCacioppo
Hamilton Spectator
08-05-2025
- Business
- Hamilton Spectator
Jushi Holdings Inc. Reports First Quarter 2025 Financial Results
Retail-First Growth Strategy Continues with 40 Operational Locations Nationwide at Quarter-End and Five Additional Stores Expected to Open by Year-End Strengthened Balance Sheet Through Strategic Transactions to Support Continued Expansion Net Loss of $17.0 million, compared to $12.5 million in the fourth quarter of 2024 Adjusted EBITDA Grew 22.8% Sequentially to $9.8 million From $8.0 million in the fourth quarter of 2024 BOCA RATON, Fla., May 08, 2025 (GLOBE NEWSWIRE) — Jushi Holdings Inc. ('Jushi' or the 'Company') (CSE: JUSH ) ( OTCQX: JUSHF ), a vertically integrated, multi-state cannabis operator, is pleased to announce its financial results for the first quarter ended March 31, 2025 ('Q1 2025'). All financial information is unaudited and provided in U.S. dollars unless otherwise indicated and is prepared under U.S. Generally Accepted Accounting Principles ('GAAP'). First Quarter 2025 Financial Highlights 1 See 'Use of Non-GAAP Financial Information' and 'Unaudited Reconciliation of Net Income (Loss) to Adjusted EBITDA and Calculation of Adjusted EBITDA Margin' below. First Quarter 2025 Company Highlights Post Quarter-End Developments Management Commentary 'Over the first quarter, we focused on strengthening our operations within our key vertical markets, while also taking strategic actions to enhance our capital structure and support ongoing expansion initiatives,' said Jim Cacioppo, Chief Executive Officer, Chairman, and Founder of Jushi. 'Our ongoing cost optimization efforts, combined with improved liquidity from strategic transactions during the quarter – such as the factoring of certain ERC claims and issuance of second lien notes – have fortified our balance sheet and provided greater strategic agility as we scale within the rapidly evolving industry backdrop. The sequential gains in Adjusted EBITDA and gross margin from the fourth quarter of 2024 ('Q4 2024') underscore the progress of our initiatives to improve efficiencies across our grower-processor footprint and maintain consistent product output, helping to offset the impact from price compression and support both profitability and topline growth.' Mr. Cacioppo continued, 'Our 7 and 7 retail-first expansion strategy continues to make strong headway, with the first phase nearing completion as we anticipate the opening of our seventh Beyond Hello™ store from the initial pipeline in Parma, Ohio, by the end of Q3 2025. Phase two is also well underway, with two additional stores expected to open in New Jersey and one in Ohio by year end. Since launching the expansion program in Q4 2024, we anticipate opening a total of eight to ten new dispensaries by the end of 2025 – just one year from the program's inception. As part of our strategic approach to retail expansion, we are targeting growth in key markets such as Illinois, New Jersey and Ohio, while continuing to evaluate additional high-opportunity regions across the country. With the support of our strong grower-processor footprint and evolving product portfolio, we are well-positioned to serve our growing network of Beyond Hello™ dispensaries and to deliver long-term value and sustained growth for our customers, patients, and shareholders.' Financial Results for the First Quarter Ended March 31, 2025 ($ in millions) Revenue in Q1 2025 decreased by $1.6 million to $63.8 million as compared to the first quarter of 2024 ('Q1 2024'). Retail revenue for Q1 2025 decreased by $0.5 million as compared to Q1 2024. While overall units sold increased 6.1%, average sales price declined overall. Retail revenue decreased in all states except Virginia and Ohio due to increased competition and market price compression. In Virginia, retail revenue for Q1 2025 increased $1.4 million. This growth was driven by strong overall performance across all locations, with newer stores continuing to ramp up. In Ohio, retail revenue in Q1 2025 increased $2.5 million as compared to Q1 2024 due to the transition to adult-use during Q3 2024 and the addition of two co-located medical and adult-use dispensaries that were consolidated beginning in Q4 2024 as a result of the Company entering into management services agreements with two operating dispensaries in Oxford and Toledo, Ohio; these dispensaries were acquired by us in the current quarter. Furthermore, we consolidated a third dispensary in Ohio which opened in February 2025 as a result of our gaining control through the management services agreement previously entered into. Including this new Ohio store, we ended Q1 2025 with 40 operating dispensaries in seven states, as compared to 35 in seven states at the end of Q1 2024. Wholesale revenue for Q1 2025 decreased $1.1 million as compared to Q1 2024. The decrease is primarily attributable to a decline of $1.3 million in Massachusetts due to lower bulk sales, as well as limited availability of products available to third parties through our wholesale channel as we prioritized supplying our retail stores. Gross profit and gross profit margin decreased to $25.8 million and 40.4%, respectively, for Q1 2025 as compared to $32.3 million and 49.4%, respectively, for Q1 2024. The decrease in gross profit and gross profit margin was driven by competitive pricing pressure requiring higher discounting in our retail channel which resulted in lower sales dollars. In addition, higher production costs per unit from prior periods are being reflected in the current quarter's cost of sales as products produced in prior quarters turn. Jushi-branded product sales as a percentage of total retail revenue were 56% in Q1 2025 across the Company's five vertical markets compared to 54% in Q1 2024. Operating expenses for Q1 2025 were $27.6 million as compared to $28.2 million in Q1 2024. The quarter-over-quarter decrease was due primarily to lower share-based compensation expense which reflects higher forfeiture as well as lower value of share-based compensation granted. The decrease was partially offset by higher depreciation and amortization expense primarily due to the amortization of our business licenses which commenced during the second quarter of 2024. Other expense, net for Q1 2025 included interest expense of $10.0 million, which was partially offset by other, net of $3.2 million and fair value gain on derivatives of $0.6 million. Other, net for Q1 2025 includes $2.8 million in employee retention refund claims, including interest received, from the IRS. Net loss for Q1 2025 was $17.0 million compared to $18.4 million for Q1 2024. Adjusted EBITDA1 in Q1 2025 was $9.8 million compared to $13.3 million in Q1 2024. 1See 'Use of Non-GAAP Financial Information' and 'Unaudited Reconciliation of Net Income (Loss) to Adjusted EBITDA and Calculation of Adjusted EBITDA Margin' below. Balance Sheet and Liquidity As of March 31, 2025, the Company had approximately $27.9 million of cash, cash equivalents and restricted cash. For Q1 2025, the Company paid approximately $4.0 million in capital expenditures. As of March 31, 2025, the Company had approximately $4.5 million and $208.2 million of short-term and long-term total gross debt, respectively, excluding leases and property, plant, and equipment financing obligations. Excluding the $21.5 million notes payable to Sammartino, as we currently have no obligation to repay these notes, the total gross principal amount of debt subject to scheduled repayments was $191.2 million. As of May 2, 2025, the Company's issued and outstanding shares were 196,696,597 and its fully diluted shares outstanding were 301,139,845. Use of Non-GAAP Financial Information The Company believes that the presentation of non-GAAP financial information provides important supplemental information to management and investors regarding financial and business trends relating to our financial condition and results of operations. For further information regarding these non-GAAP measures, including the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, please refer to the 'Unaudited Reconciliation of Net Income (Loss) to Adjusted EBITDA and Calculation of Adjusted EBITDA Margin' section of this press release. Conference Call and Webcast Information The Company will host a conference call and audio webcast for the first quarter ended March 31, 2025, at 4:00 p.m. ET today, Thursday, May 8, 2025. For interested individuals unable to join the conference call, a webcast of the call will be available for one month following the conference call and can be accessed via webcast on Jushi's Investor Relations website . About Jushi Holdings Inc. We are a vertically integrated cannabis company led by an industry-leading management team. 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 or our social media channels, Instagram , Facebook , X , and LinkedIn . Forward-Looking Information and Statements This press release may contain 'forward-looking statements' and 'forward‐looking information' within the meaning of applicable securities laws, including Canadian securities legislation and United States ('U.S.') securities legislation (collectively, 'forward-looking information') which are based upon the Company's current internal expectations, estimates, projections, assumptions and beliefs. All information, other than statements of historical facts, included in this report that address activities, events or developments that the Company expects or anticipates will or may occur in the future constitutes forward‐looking information. Forward‐looking information is often identified by the words, 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions and includes, among others, information regarding: future business strategy; competitive strengths, goals, expansion and growth of the Company's business, operations and plans, including new revenue streams; the implementation by the Company of certain product lines; the implementation of certain research and development; the application for additional licenses and the grant of licenses that will be or have been applied for; the expansion or construction of certain facilities; the reduction in the number of our employees; the expansion into additional U.S. and international markets; any potential future legalization of adult use and/or medical marijuana under U.S. federal law; expectations of market size and growth in the U.S. and the states in which the Company operates; expectations for other economic, business, regulatory and/or competitive factors related to Jushi or the cannabis industry generally; and other events or conditions that may occur in the future. Readers are cautioned that forward‐looking information is not based on historical facts but instead is based on reasonable assumptions and estimates of the management of the Company at the time they were provided or made and such information involves known and unknown risks, uncertainties, including our ability to continue as a going concern, and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as applicable, to be materially different from any future results, performance or achievements expressed or implied by such forward‐looking information. Such factors include, among others: the limited operating history of the industry and the Company; risks related to managing the growth of the Company including completed, pending or future acquisitions or dispositions, including potential future impairment of goodwill or intangibles acquired and/or post-closing disputes; risks related to the continued performance, expansion and/or optimization of existing operations in California, Illinois, Massachusetts, Nevada, Ohio, Pennsylvania, and Virginia; risks related to the anticipated openings of additional dispensaries or relocation of existing dispensaries subject to licensing approval; the Company's history of operating losses and negative operating cash flows; increasing competition in the industry; risks inherent in an agricultural business, such as the effects of natural disasters; reliance on the expertise and judgment of senior management of the Company; risks associated with cannabis products manufactured for human consumption including potential product recalls; limited research and data relating to cannabis; constraints on marketing products; risk of litigation; insurance-related risks; public opinion and perception of the cannabis industry; risks related to the economy generally; fraudulent activity by employees, contractors and consultants; risks relating to the Company's current amount of indebtedness; reliance on key inputs, suppliers and skilled labor, and third party service provider contracts; reliance on manufacturers and contractors; risks of supply shortages or supply chain disruptions; risks relating to pandemics and forces of nature; risks related to the enforceability of contracts; risks related to inflation, the rising cost of capital, and stock market instability; risks relating to U.S. regulatory landscape and enforcement related to cannabis, including political risks; risks relating to anti‐money laundering laws and regulation; cannabis-related tax risks and challenges from governmental authorities with respect to the Company's application for Employee Retention Tax Credits (ERC); other governmental and environmental regulation; risks related to proprietary intellectual property and potential infringement by third parties; sales of a significant amount of shares by existing shareholders; the limited market for securities of the Company; risks relating to the need to raise additional capital either through debt or equity financing; costs associated with the Company being a publicly-traded company and a U.S. and Canadian filer; risks related to co‐investment with parties with different interests to the Company; conflicts of interest and related party transactions; cybersecurity risks; and risks related to the Company's critical accounting policies and estimates. Refer to Part I - Item 1A. Risk Factors in the Company's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on March 6, 2025 for more information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward‐looking information will prove to be accurate as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on the forward‐looking information contained in this press release or other forward-looking statements made by the Company. Forward‐looking information is provided and made as of the date of this press release and the Company does not undertake any obligation to revise or update any forward‐looking information or statements other than as required by applicable law. Unless the context requires otherwise, references in this press release to 'Jushi,' 'Company,' 'we,' 'us' and 'our' refer to Jushi Holdings Inc. and our subsidiaries. For further information, please contact: Investor Relations 561-617-9100 investors@ JUSHI HOLDINGS INC. UNAUDITED RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA and CALCULATION OF ADJUSTED EBITDA MARGIN EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin In addition to providing financial measurements based on GAAP, we provide additional financial metrics that are not prepared in accordance with GAAP. We use non-GAAP financial measures, in addition to GAAP financial measures, to understand and compare operating results across accounting periods, for financial and operational decision making, for planning and forecasting purposes and to evaluate our financial performance. These non-GAAP financial measures are EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin (each as defined below). We believe that these non-GAAP financial measures reflect our ongoing business by excluding the effects of expenses that are not reflective of our operating business performance and allow for meaningful comparisons and analysis of trends in our business. These non-GAAP financial measures also facilitate comparing financial results across accounting periods and to those of peer companies. As there are no standardized methods of calculating these non-GAAP measures, our methods may differ from those used by others, and accordingly, the use of these measures may not be directly comparable to similar measures used by others, thus limiting their usefulness. Accordingly, these non-GAAP measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin are financial measures that are not defined under GAAP. We define EBITDA as net income (loss), or 'earnings', before interest, income taxes, depreciation and amortization. We define Adjusted EBITDA as EBITDA before: (i) non-cash share-based compensation expense; (ii) inventory-related adjustments; (iii) fair value changes in derivatives; (iv) other (income)/expense items; (v) transaction costs; (vi) asset impairment; and (vii) gain/loss on debt extinguishment. Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by total revenue. These financial measures are metrics that have been adjusted from the GAAP net income (loss) measure in an effort to provide readers with a normalized metric in making comparisons more meaningful across the cannabis industry, as well as to remove non-recurring, irregular and one-time items that may otherwise distort the GAAP net income measure. Other companies in our industry may calculate this measure differently, limiting their usefulness as comparative measures. Unaudited Reconciliation of Net Loss to Adjusted EBITDA (In thousands of U.S. Dollars) (1) Includes amounts that are included in cost of goods sold and in operating expenses. (2) Includes: (i) remeasurement of contingent consideration related to acquisitions; (ii) losses (gains) on legal settlements; (iii) losses (gains) on asset disposals; (iv) foreign exchange losses (gains); (v) indemnification asset adjustments related to acquisitions; and (vi) start-up costs. Calculation of Adjusted EBITDA Margin (In thousands of U.S. Dollars, unless otherwise stated)
Globe and Mail
18-04-2025
- Business
- Globe and Mail
Jushi Holdings Inc. Announces Grand Opening of Beyond Hello™ Mansfield in Ohio, Expanding Its Statewide Retail Footprint
New Beyond Hello™ Adult-Use and Medical Dispensary Opens in Mansfield, OH Fifth Beyond Hello Dispensary in Ohio and 41st Nationwide First Licensed Dispensary Opening in the Mansfield Area Grand Opening Celebration with Exclusive Promotions April 19- May 4, 2025 A Media Snippet accompanying this announcement is available by clicking on this link. BOCA RATON, Fla., April 18, 2025 (GLOBE NEWSWIRE) -- Jushi Holdings Inc. ('Jushi' or the 'Company') (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, today announced the grand opening of its Beyond Hello™ Mansfield location at 1515 Lexington Ave, Mansfield, OH 44907, marking the fifth Beyond Hello™ dispensary in the state of Ohio and the Company's 41st store nationwide. The new dispensary will officially open its doors on Saturday, April 19, 2025, and will operate Monday through Saturday from 9:00 AM to 9:00 PM and Sunday from 10:00 AM to 6:00 PM. Customers can place online reservations for in-store pickup at For additional information, the store can be reached directly at (419) 775-4208. Strategically located on Lexington Avenue in the heart of Mansfield's commercial corridor, Beyond Hello Mansfield offers convenient access, ample parking, and high visibility along one of the area's most well-trafficked thoroughfares. Surrounded by retail, dining, and community amenities, the location is well-positioned to serve both new and existing customers in Richland County and beyond. Positioned between Cleveland and Columbus, Mansfield serves as a central destination for surrounding communities and offers access to a wide range of amenities and services. As the first licensed dispensary to open in the Mansfield area, Beyond Hello™ brings local residents access to safe, legal cannabis for both medical and adult-use purposes. The store will offer a curated selection of top-tier cannabis products including flower, vapes, concentrates, edibles, and wellness items. As with all Beyond Hello™ stores, customers will be guided by a team of knowledgeable, compassionate cannabis professionals focused on providing a personalized and welcoming experience. To celebrate, Beyond Hello™ will be offering special grand opening promotions (Learn more) to all patients and customers through May 4 th. 'We're thrilled to continue our momentum in Ohio with the opening of Beyond Hello Mansfield,' said Jim Cacioppo, Chief Executive Officer, Chairman, and Founder of Jushi Holdings Inc. 'Mansfield plays a vital role in the region, and we're proud to bring a modern, customer-focused cannabis retail experience to its residents. As Ohio's adult-use market continues to evolve, we're committed to offering high-quality products, education, and access to consumers throughout the state.' Jushi continues to build out its vertically integrated operations in Ohio, where it also cultivates and manufactures a variety of in-house brands including The Bank, SeCHe, The Lab, and Tasteology. By expanding its retail reach, Jushi ensures greater availability of its premium products while strengthening its presence in the state's dynamic and growing cannabis landscape. For more information, visit or follow Beyond Hello™ on social media. About Jushi Holdings Inc. We are a vertically integrated cannabis company led by an industry-leading management team. 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 or our social media channels, Instagram, Facebook, X and LinkedIn. Forward-Looking Information and Statements This press release may contain 'forward-looking statements' and 'forward‐looking information' within the meaning of applicable securities laws, including Canadian securities legislation and United States ('U.S.') securities legislation (collectively, 'forward-looking information') which are based upon the Company's current internal expectations, estimates, projections, assumptions and beliefs. All information, other than statements of historical facts, included in this report that address activities, events or developments that Jushi expects or anticipates will or may occur in the future constitutes forward‐looking information. Forward‐looking information is often identified by the words, 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions and includes, among others, information regarding: future business strategy, competitive strengths, goals, expansion and growth of Jushi's business, operations and plans, including new revenue streams; roll out of new operations; the implementation by Jushi of certain product lines; implementation of certain research and development; the application for additional licenses and the grant of licenses that will be or have been applied for; the expansion or construction of certain facilities; the reduction in the number of our employees; the expansion into additional U.S. markets; any potential future legalization of adult use and/or medical marijuana under U.S. federal law; the expectation of repayment of debt to de-lever our balance sheet; expectations of market size and growth in the U.S. and the states in which Jushi operates; expectations for other economic, business, regulatory and/or competitive factors related to Jushi or the cannabis industry generally; and other events or conditions that may occur in the future. Readers are cautioned that forward‐looking information is not based on historical facts but instead is based on reasonable assumptions and estimates of the management of the Company at the time they were provided or made and such information involves known and unknown risks, uncertainties, including our ability to continue as a going concern, and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as applicable, to be materially different from any future results, performance or achievements expressed or implied by such forward‐looking information. Such factors include, among others: risks relating to U.S. regulatory landscape and enforcement related to cannabis, including political risks; risks relating to anti‐money laundering laws and regulation; other governmental and environmental regulation; public opinion and perception of the cannabis industry; risks related to the economy generally; risks related to inflation, the rising cost of capital, and stock market instability; risks relating to pandemics and forces of nature; risks related to contracts with third party service providers; risks related to the enforceability of contracts; the limited operating history of Jushi; Jushi's history of operating losses and negative operating cash flows; reliance on the expertise and judgment of senior management of Jushi; risks inherent in an agricultural business; risks related to co‐investment with parties with different interests to the Company; risks related to proprietary intellectual property and potential infringement by third parties; risks relating to the management of growth; costs associated with Jushi being a publicly-traded company and a U.S. and Canadian filer; increasing competition in the industry; risks associated with cannabis products manufactured for human consumption including potential product recalls; reliance on key inputs, suppliers and skilled labor; reliance on manufacturers and contractors; risks of supply shortages or supply chain disruptions; cybersecurity risks; constraints on marketing products; fraudulent activity by employees, contractors and consultants; tax and insurance related risks; risk of litigation; conflicts of interest; risks relating to certain remedies being limited and the difficulty of enforcing judgments and effecting service outside of Canada; risks related to completed, pending or future acquisitions or dispositions, including potential future impairment of goodwill or intangibles acquired and/or post-closing disputes; sales of a significant amount of shares by existing shareholders; the limited market for securities of the Company; risks related to the continued performance of existing operations in California, Illinois, Massachusetts, Nevada, Ohio, Pennsylvania, and Virginia; risks related to the anticipated openings of additional dispensaries or relocation of existing dispensaries; risks relating to the expansion and optimization of the cultivation and/or processing facilities in Massachusetts, Nevada, Ohio, Pennsylvania and Virginia; risks related to opening new facilities, which is subject to licensing approval; limited research and data relating to cannabis; risks related to challenges from governmental authorities with respect to the Company's tax credits; and risks related to the Company's critical accounting policies and estimates. Refer to Part I - Item 1A. Risk Factors in the Company's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on April 1, 2024 for more information. Although Jushi has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward‐looking information will prove to be accurate as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on the forward‐looking information contained in this press release or other forward-looking statements made by Jushi. Forward‐looking information is provided and made as of the date of this press release and Jushi does not undertake any obligation to revise or update any forward‐looking information or statements other than as required by applicable law. Unless the context requires otherwise, references in this press release to 'Jushi,' 'Company,' 'we,' 'us' and 'our' refer to Jushi Holdings Inc. and our subsidiaries. For further information, please contact:
Yahoo
18-04-2025
- Business
- Yahoo
Jushi Holdings Inc. Announces Grand Opening of Beyond Hello™ Mansfield in Ohio, Expanding Its Statewide Retail Footprint
New Beyond Hello™ Adult-Use and Medical Dispensary Opens in Mansfield, OH Fifth Beyond Hello Dispensary in Ohio and 41st Nationwide First Licensed Dispensary Opening in the Mansfield Area Grand Opening Celebration with Exclusive Promotions April 19- May 4, 2025 A Media Snippet accompanying this announcement is available by clicking on this link. BOCA RATON, Fla., April 18, 2025 (GLOBE NEWSWIRE) -- Jushi Holdings Inc. ('Jushi' or the 'Company') (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, today announced the grand opening of its Beyond Hello™ Mansfield location at 1515 Lexington Ave, Mansfield, OH 44907, marking the fifth Beyond Hello™ dispensary in the state of Ohio and the Company's 41st store nationwide. The new dispensary will officially open its doors on Saturday, April 19, 2025, and will operate Monday through Saturday from 9:00 AM to 9:00 PM and Sunday from 10:00 AM to 6:00 PM. Customers can place online reservations for in-store pickup at For additional information, the store can be reached directly at (419) 775-4208. Strategically located on Lexington Avenue in the heart of Mansfield's commercial corridor, Beyond Hello Mansfield offers convenient access, ample parking, and high visibility along one of the area's most well-trafficked thoroughfares. Surrounded by retail, dining, and community amenities, the location is well-positioned to serve both new and existing customers in Richland County and beyond. Positioned between Cleveland and Columbus, Mansfield serves as a central destination for surrounding communities and offers access to a wide range of amenities and services. As the first licensed dispensary to open in the Mansfield area, Beyond Hello™ brings local residents access to safe, legal cannabis for both medical and adult-use purposes. The store will offer a curated selection of top-tier cannabis products including flower, vapes, concentrates, edibles, and wellness items. As with all Beyond Hello™ stores, customers will be guided by a team of knowledgeable, compassionate cannabis professionals focused on providing a personalized and welcoming experience. To celebrate, Beyond Hello™ will be offering special grand opening promotions (Learn more) to all patients and customers through May 4th. 'We're thrilled to continue our momentum in Ohio with the opening of Beyond Hello Mansfield,' said Jim Cacioppo, Chief Executive Officer, Chairman, and Founder of Jushi Holdings Inc. 'Mansfield plays a vital role in the region, and we're proud to bring a modern, customer-focused cannabis retail experience to its residents. As Ohio's adult-use market continues to evolve, we're committed to offering high-quality products, education, and access to consumers throughout the state.' Jushi continues to build out its vertically integrated operations in Ohio, where it also cultivates and manufactures a variety of in-house brands including The Bank, SeCHe, The Lab, and Tasteology. By expanding its retail reach, Jushi ensures greater availability of its premium products while strengthening its presence in the state's dynamic and growing cannabis landscape. For more information, visit or follow Beyond Hello™ on social media. About Jushi Holdings Inc. We are a vertically integrated cannabis company led by an industry-leading management team. 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 or our social media channels, Instagram, Facebook, X and LinkedIn. Forward-Looking Information and Statements This press release may contain 'forward-looking statements' and 'forward‐looking information' within the meaning of applicable securities laws, including Canadian securities legislation and United States ('U.S.') securities legislation (collectively, 'forward-looking information') which are based upon the Company's current internal expectations, estimates, projections, assumptions and beliefs. All information, other than statements of historical facts, included in this report that address activities, events or developments that Jushi expects or anticipates will or may occur in the future constitutes forward‐looking information. Forward‐looking information is often identified by the words, 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions and includes, among others, information regarding: future business strategy, competitive strengths, goals, expansion and growth of Jushi's business, operations and plans, including new revenue streams; roll out of new operations; the implementation by Jushi of certain product lines; implementation of certain research and development; the application for additional licenses and the grant of licenses that will be or have been applied for; the expansion or construction of certain facilities; the reduction in the number of our employees; the expansion into additional U.S. markets; any potential future legalization of adult use and/or medical marijuana under U.S. federal law; the expectation of repayment of debt to de-lever our balance sheet; expectations of market size and growth in the U.S. and the states in which Jushi operates; expectations for other economic, business, regulatory and/or competitive factors related to Jushi or the cannabis industry generally; and other events or conditions that may occur in the future. Readers are cautioned that forward‐looking information is not based on historical facts but instead is based on reasonable assumptions and estimates of the management of the Company at the time they were provided or made and such information involves known and unknown risks, uncertainties, including our ability to continue as a going concern, and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as applicable, to be materially different from any future results, performance or achievements expressed or implied by such forward‐looking information. Such factors include, among others: risks relating to U.S. regulatory landscape and enforcement related to cannabis, including political risks; risks relating to anti‐money laundering laws and regulation; other governmental and environmental regulation; public opinion and perception of the cannabis industry; risks related to the economy generally; risks related to inflation, the rising cost of capital, and stock market instability; risks relating to pandemics and forces of nature; risks related to contracts with third party service providers; risks related to the enforceability of contracts; the limited operating history of Jushi; Jushi's history of operating losses and negative operating cash flows; reliance on the expertise and judgment of senior management of Jushi; risks inherent in an agricultural business; risks related to co‐investment with parties with different interests to the Company; risks related to proprietary intellectual property and potential infringement by third parties; risks relating to the management of growth; costs associated with Jushi being a publicly-traded company and a U.S. and Canadian filer; increasing competition in the industry; risks associated with cannabis products manufactured for human consumption including potential product recalls; reliance on key inputs, suppliers and skilled labor; reliance on manufacturers and contractors; risks of supply shortages or supply chain disruptions; cybersecurity risks; constraints on marketing products; fraudulent activity by employees, contractors and consultants; tax and insurance related risks; risk of litigation; conflicts of interest; risks relating to certain remedies being limited and the difficulty of enforcing judgments and effecting service outside of Canada; risks related to completed, pending or future acquisitions or dispositions, including potential future impairment of goodwill or intangibles acquired and/or post-closing disputes; sales of a significant amount of shares by existing shareholders; the limited market for securities of the Company; risks related to the continued performance of existing operations in California, Illinois, Massachusetts, Nevada, Ohio, Pennsylvania, and Virginia; risks related to the anticipated openings of additional dispensaries or relocation of existing dispensaries; risks relating to the expansion and optimization of the cultivation and/or processing facilities in Massachusetts, Nevada, Ohio, Pennsylvania and Virginia; risks related to opening new facilities, which is subject to licensing approval; limited research and data relating to cannabis; risks related to challenges from governmental authorities with respect to the Company's tax credits; and risks related to the Company's critical accounting policies and estimates. Refer to Part I - Item 1A. Risk Factors in the Company's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on April 1, 2024 for more information. Although Jushi has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward‐looking information will prove to be accurate as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on the forward‐looking information contained in this press release or other forward-looking statements made by Jushi. Forward‐looking information is provided and made as of the date of this press release and Jushi does not undertake any obligation to revise or update any forward‐looking information or statements other than as required by applicable law. Unless the context requires otherwise, references in this press release to 'Jushi,' 'Company,' 'we,' 'us' and 'our' refer to Jushi Holdings Inc. and our subsidiaries. For further information, please contact: Jushi Investor Relations561-617-9100investors@ Photos accompanying this announcement are available at: in to access your portfolio
