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Capital infusion strengthens balance sheets for growth initiatives in 2023
BOCA RATON, Fla., April 6, 2023 (GLOBAL NEWS LINE) — Jushi Holdings Inc. (“Jushi” or “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, today announced the closing of a secured commercial loan (“Loan”) with FVCbank (“the Bank” and the “Gender”). loan”), with total proceeds of $20 million. The proceeds from the Loan will be used for working capital and other corporate purposes. “This undiluted funding, which we are proud to have closed in this capital-constrained environment, will significantly strengthen our standing,” said Jim Cacioppo, CEO, President and Founder of Jushi. our financial position as we deliver on our goals by 2023.” The loan has a term of five (5) years and is secured principally by the Company’s cultivation and production facility located in Manassas, Virginia. The loan will bear interest based on the average 30-day secured overnight funding rate plus 3.55%, with a floor rate not lower than 8.25%.
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About Jushi Holdings Inc.
We are a vertically integrated cannabis company led by an industry leading management team. In the United States, Jushi is focused on building a multinational portfolio of branded cannabis properties through opportunistic acquisitions, intense workouts, and competitive applications. Jushi strives to maximize shareholder value while providing high quality products across all levels of the cannabis ecosystem. For more information, visit jushico.com or our social media channels, Instagram, Facebook, TwitterAnd LinkedIn.
Forward-looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws as well as statements that may constitute a “forward-looking statement” within the meaning of the Reform Act. private securities proceedings of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, contained in this press release, including statements about our strategy, future operations, intentions to expand our operations, situation Future financials, outlooks, plans and management goals are all forward-looking statements. These forward-looking statements are based on Jushi’s current expectations and beliefs regarding future developments and their potential impacts. As a result, actual results may differ significantly from those expressed by such forward-looking statements and such statements should not be relied upon. In general, forward-looking information or forward-looking statements can be identified using forward-looking terms, such as “plans,” “expectations,” or “unexpectedly.” , “expected,” “budget,” “expected,” “estimated,” “forecast,” “intended,” “anticipated,” or “not anticipated,” or “believes,” or the variations of those words and phrases or may contain statements that some action, event, or result “may,” “could,” “will,” “could” or “will be done.” present,” “will continue,” “will happen” or “will be achieved.” The forward-looking information and forward-looking statements contained in this document may include, but is not limited to, information regarding expectations for Jushi or Jushi’s ability to successfully achieve his goals. business and expectations with respect to other economic, business and/or competitive activities. factors. Many factors may cause actual future events to differ materially from the forward-looking statements in this press release, including risks associated with an adequate supply of cash. of Jushi and Jushi’s ability to continue as a going concern, and Jushi’s ability to successfully operate and/or achieve its business objectives in a timely manner, including with regulators, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in financial markets; changes in applicable law; subject to extensive governmental regulations, additional information risks may arise prior to completion of the restated consolidated financial statements or other events that would subsequently require us to make additional adjustments, as well as risks, uncertainties and other warnings in the Company’s financial statements Public Profiles with applicable securities regulators on the SEC’s website at www.sec.gov and on SEDAR at www.sedar.com. If one or more risks, uncertainties, or other factors materialize, or if the assumptions underlying the forward-looking information or statements are proven to be incorrect, the actual results may vary significantly from those described here as intended, planned, anticipated, believed, estimated, or expected.
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Although the Company believes that the assumptions and factors used in the preparation, as well as the expectations contained in the information and forward-looking statements, are reasonable, undue reliance should be placed on the information. such information and representations and cannot make any guarantees or warranties that such forward-looking information and statements will be proven to be accurate, as actual results and future events may be may differ significantly from what is anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release and the Company does not undertake to update any forward-looking information. and/or forward-looking statements are contained or referenced herein, except under applicable securities laws. All subsequent written and oral forward-looking statements and statements belonging to the Company or those acting on its behalf are expressly qualified in this notice in its entirety.
For more details, please contact:
Investor Relations Contact:
Lisa Forman
Investor Relations Manager
617-767-4419
investor@jushico.com
Contact via media:
Ellen Melody
570-209-2947
ellen@mattio.com
