Jushi Holdings Inc. Completes NuLeaf, Inc. Acquisition and Expands Vertically Integrated Operations in Nevada
BOCA RATON, Fla., April 07, 2022 (GLOBE NEWSWIRE) -- Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced that it has closed its previously announced agreement to acquire NuLeaf, Inc. together with its subsidiaries and affiliated companies (collectively, “NuLeaf”), a Nevada-based vertically integrated operator, for US$53.6 million. NuLeaf 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, and a 13,000 sq. ft. processing facility in Reno, NV. NuLeaf also owns a third licensed retail dispensary located directly on Las Vegas Boulevard (the “Las Vegas Strip Dispensary”), expected to become operational in Q2 2022 subject to regulatory approval and other conditions.
- The acquisition of NuLeaf, along with the recently closed Apothecarium Nevada2 acquisition, expands Jushis retail footprint to four dispensaries in the US$1.0 billion3 Nevada cannabis market, three of which are located in the bustling Las Vegas area.
- We are excited to announce the closing of our third acquisition in Nevada, a milestone accomplishment for our team, said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi Holdings Inc.
- The acquisition of NuLeaf sets the tone for our growth plans in the state as we continue to scale and strengthen our operations in this limited license market.
- We look forward to the immediate revenue and EBITDA contribution this acquisition will bring as we fully integrate NuLeaf into our business.