Jushi Holdings Inc. Further Expands Nevada Footprint Through Agreement to Acquire Vertically Integrated State Operator – GlobeNewswire
Acquisition Includes Three Retail Dispensaries, a Cultivation Facility and a Product Manufacturing Facility
Expands Jushi’s presence in Nevada’s attractive limited license retail market
Increases Jushi’s Permitted Licensed Retail Footprint to 39 Dispensaries Nationwide1
Purchase Price of up to US$62.5 Million Represents a ~4.5x multiple on NuLeaf’s full year 2022E EBITDA2
BOCA RATON, Fla., Nov. 17, 2021 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced that it has entered a definitive agreement (the “Agreement”) to acquire NuLeaf, Inc. together with its subsidiaries and affiliated companies (collectively, “NuLeaf”), a Nevada-based vertically integrated operator, for total consideration of up to US$62.5 million (the “Acquisition”). NuLeaf currently operates two high-performing adult use and medical retail dispensaries in Las Vegas, NV (the “Clark Dispensary”), and Lake Tahoe, NV (the “Lake Tahoe Dispensary”), in addition to a 27,000 sq. ft. cultivation facility in Sparks, NV, as well as a 13,000 sq. ft. processing facility in Reno, NV. Additionally, NuLeaf owns a third licensed retail dispensary located directly on Las Vegas Boulevard (the “Las Vegas Strip Dispensary”), expected to become operational in early 2022, subject to regulatory approval and other conditions.