Jushi Holdings Inc. Announces Closing of Offering of Subordinate Voting Shares - Seite 2

Management Commentary

“We are building a leading multi-state operator through thoughtful capital deployment in attractive limited license markets,” commented Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi. “Improving availability and access to high-quality cannabis products for medical patients is an important area of focus for the Company and is the driving force behind our expansion efforts. I’d like to thank our shareholders for their support and look forward to continuing to provide best-in-class service to our patients and consumers.”

As a result of the successful completion of the Offering, the Company has, as of the date hereof, (i) 149,871,081 subordinate voting shares issued and outstanding, and (ii) 254,892,034 shares issued and outstanding on an as-converted and fully-diluted basis. On a pro forma basis, the Company has approximately $180 million in cash and short-term investments and approximately $86 million in total debt, excluding leases and property, plant and equipment financing obligations.

Canaccord Genuity Corp. acted as sole bookrunner for the Offering.

Copies of the Prospectus may be obtained on SEDAR at www.sedar.com and from Canaccord Genuity Corp., 161 Bay Street, Suite 3000, Toronto, ON M5J 2S1. The Prospectus contains important detailed information about the Company and the Offering. Prospective investors should read the Prospectus and the other documents the Company has filed on SEDAR at www.sedar.com before making an investment decision.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The subordinate voting shares have not been and will not be registered under the U.S. Securities Act or any state securities laws. Accordingly, the Offered Securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.