Jushi Holdings Inc. Completes Acquisition of Licensed Cultivator in Ohio
July 15, 2021 at 07:18 am EDT
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Jushi Holdings Inc. announced it has closed its previously announced acquisition of OhiGrow, LLC and Ohio Green Grow LLC (collectively, "OhiGrow"), for total consideration of $5.0 million in cash, inclusive of an approximately 10,000 sq. ft. facility and 1.35 acres of land. OhiGrow will complement the 8,000 sq. ft. Ohio medical cannabis processing facility located in Columbus, OH that has recently commenced operations, to which Jushi provides operational and consulting services. OhiGrow is expected to supply biomass to the Processing Facility to create manufactured medical marijuana products, including Jushi's suite of permissible branded products, to be sold at licensed medical marijuana dispensaries throughout Ohio. OhiGrow's facility is located in Toledo, OH, approximately 100 miles or 2.5 hours from Columbus, OH. To date, approximately $4.5 million has been invested in the OhiGrow building, equipment, and land by the previous owners. There is an additional 15,000 sq. ft. of available vacant space on the property, which can be further developed. OhiGrow holds a Level II cultivation license from the state and has the right to apply for the regulatory approvals necessary to expand the facility's cultivation area, ultimately up to the maximum 9,000 sq. ft., which is currently permitted under OhiGrow's Level II cultivation license.
Jushi Holdings Inc. is a vertically integrated cannabis company. The Company is engaged in retail, distribution, cultivation, and processing in both medical and adult-use markets. The Company, through its subsidiaries, owns or manages cannabis operations and/or holds licenses in the adult-use and/or medicinal cannabis marketplace in California, Illinois, Massachusetts, Nevada, Ohio, Pennsylvania, and Virginia. It offers both in-house brands and third-party products at each of its retail locations. All of its retail locations operate under the BEYOND HELLO brand except in Massachusetts and Nevada. In Massachusetts, its retail locations operate under the Natureâs Remedy brand. In Nevada, the Company operates three retail locations under the NuLeaf brand and one under the BEYOND HELLO. In states where it has licensed cultivation and processing operations, the Company produces products under its in-house brands, including The Bank, Hijinks, The Lab, Seche, Nira+ and Tasteology.
JUSHI HOLDINGS INC. 
