- Approved as one of three applicants to move forward in the storefront retail permit to be issued by Culver City
- Executes on Jushi's California growth strategy of pursuing limited license municipalities in the world's largest cannabis market
- Jushi plans to build the cannabis dispensary at a prime retail location at the corner of Venice and Sepulveda Boulevards, near the City of Los Angeles
BOCA RATON, Fla., July 26, 2019 /CNW/ -- Jushi Holdings Inc. ("Jushi" or the "Company")(NEO: JUSH.B), a globally-focused, multi-state cannabis and hemp operator, today announced that after an intensive vetting process, its subsidiary has been selected to move forward in the merit-based application process for a storefront retail (and ancillary delivery) permit in Culver City, California. The Company will proceed by preparing a conditional use permit application for submission to the city.
Of the 23 retail storefront applications submitted, Jushi was chosen as one of only three to receive this approval. The Company intends to build a ground-up structure approximately 500 feet away from Interstate 405 at the corner of Venice and Sepulveda Boulevards. The 3800 Sepulveda Boulevard location provides convenient access to the residents of Culver City and adjacent City of Los Angeles, a premier opportunity for retail and delivery operations.
"Our award in Culver City falls in line with our strategy to apply in limited license jurisdictions within large markets such as California," stated Jim Cacioppo, CEO and Chairman of Jushi. "Jushi is thrilled to have the opportunity to operate in Culver City, a thriving community experiencing rapid growth in a strategically favorable location. We will immediately move forward in the planning process of this flagship cannabis dispensary, which will be constructed with a focus on environmental sustainability and modern architecture, aligning to the forward-thinking values of Culver City and its residents. We look forward to providing further announcements as we strategically expand our California retail footprint."
Culver City is surrounded by the City of Los Angeles, centrally located on the West side near Santa Monica, Beverly Hills and the Los Angeles International Airport. Culver City is particularly known for its growing high-tech and creative economies, and a dynamic downtown that is regionally known as a destination for restaurants, live theater and art galleries.
About Jushi Holdings Inc.
We are a globally-focused cannabis and hemp company led by an industry leading management team. In the United States Jushi is focused on building a multi-state portfolio of branded cannabis and hemp-derived assets through opportunistic acquisitions, distressed work-outs and competitive applications. Jushi strives to maximize shareholder value while delivering high quality products across all levels of the cannabis and hemp ecosystem. For more information please visit www.jushico.com or our social media channels; Instagram, Facebook, Twitter and LinkedIn.
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, information concerning the expectations regarding Jushi, or the ability of Jushi to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability of Jushi to successfully achieve business objectives, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation, as well as other risks and uncertainties which are more fully described in the Company's Filing Statement dated May 31, 2019 and other filings with securities and regulatory authorities which are available at www.sedar.com. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those 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 that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
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This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE Jushi Holdings Inc.
For further information: Investor Relations, Lisa Forman, Director of Investor Relations & Marketing, Investors@jushico.com, (646) 859-8397; KCSA Strategic Communications, Valter Pinto / Allison Soss, Jushi@KCSA.com, (212) 896-1254 / (212) 896-1267; Media Contact: KCSA Strategic Communications, Tim Gray / Danielle DeVoren, Jushi@KCSA.com, (212) 896-1251 / (212) 896-1272, www.jushico.com