On Monday, June 10, 2019, Jushi Holdings Inc. will commence trading on the NEO Exchange under the symbol (NEO:JUSH.B), and this is an opportunity to be keeping an eye on. We have been following the United States cannabis company since inception and are impressed with how it has advanced the business.
Jushi is led by a management team with a proven track record when it comes to the United States cannabis market as well as prior industry successes and we are bullish on their ability to execute. Currently, the company has significant leverage to the United States market, and we want to highlight the assets it has in place as well as the states where it is planning to expand.
- California: Targeting several standalone retail locations with delivery capabilities and those with vertically integrated capacities including with distribution, cultivation, and processing; submitted and waiting results on several pending retail licenses
- Nevada: Under definitive agreement to acquire a cultivation license, manufacturing license, industrial hemp license, and a distribution license (application pending) subject to regulatory approval
- Ohio: Entering strategic partnership with a medical processing license
- New York (Hemp): Industrial hemp processing license, preparing to build out a significantly large processing facility, 2019 cultivation capabilities under negotiation with 15+ farm cooperative
- Pennsylvania: Subject to regulatory approval expected to acquire permits to open 15 medical retail stores in the state, of which 9 stores are to be located in the greater Philadelphia area, 1 store to be located in the Pittsburgh region and 3 stores in downtown Philadelphia
- Virginia: Targeting a vertically integrated medical license in a limited license medical market
- Additional Expansion State Targets: Florida, Maryland, New Jersey, Massachusetts, Rhode Island, Georgia, Missouri, Colorado, Arizona, and Oregon
A US Cannabis Firm with Massive Growth Prospects
One of the ways that Jushi has been able to advance its business is through acquisitions including high value retail locations. We look forward to the implications that these transactions will have on the overall business.
One of the businesses that Jushi has developed is Mend, which recently launched a full spectrum CBD – hemp-derived product line. We are excited by Mend due to the strategy in place and will monitor how the team executes on this. With plans to build out a significantly large hemp processing facility, Sound Wellness, a Jushi subsidiary, is well positioned to execute on the hemp opportunity, and we are bullish on the value associated with this asset.
The Company recently acquired the trademarks The ClinicTM, The Clinic Consulting ServicesTM, The BankTM and The LabTM as well as, subject to certain limited exceptions, intellectual property derived from the operations of The ClinicTM Colorado. The Clinic™ Colorado, a Denver-based cannabis company, is known for its intellectual property concerning cannabis cultivation, processing, retail distribution, compliance, and safety in multiple states, and has received more industry awards than any other cannabis company in the US with 32 first place awards. The Clinic™ Colorado has had a track record of success with The BankTM owning intellectual property to cultivation and genetics of over 150 different strains and the Lab’sTM intellectual property consisting of proprietary concentrates and extraction techniques.
This sophisticated IP will complement Jushi’s expanding platform, and we are encouraged by the growth prospects associated with this acquisition.
Another reason we are positive on Jushi is due to their leverage in the cannabis retail market in California. The company has binding agreements in place for 3 retail locations in California that also provide delivery services. The cannabis retail opportunity in California is significant and we expect this to prove to be a significant component of the business.
During the last year, we have seen a significant increase in the demand for hemp and CBD. This trend is just getting started and Jushi has attractive leverage to this burgeoning market.
Led by a Management Team with a Proven Track Record
One of the most important things for an investor to look into when analyzing a cannabis business is the management team. This is an area where Jushi excels and we find this to be very significant. Jushi is led by a management team that has a proven track record of success and acts in the best interest of shareholders. We have highlighted a number of the most important members of management for investors to have a better understanding of this opportunity.
Jushi’s CEO and Chairman, Jim Cacioppo is a proven leader and we are excited about where the business is heading under his leadership. Prior to founding Jushi, Jim spent over two decades managing the business and allocating capital in senior management positions at several large hedge funds. Jim is Co-Founder and Managing Partner of One East Partners ($2.3 billion (peak AUM)). Previously, Jim served as President and Co-Portfolio Manager of Sandell Asset Management ($5.0 billion (peak AUM)) and Head of Distressed Debt for Halcyon Management, a global investment firm with over $9.0 billion in assets. Jim earned his BA from Colgate University and his MBA from Harvard University.
Jushi’s President, Erich Mauff brings significant financial and managerial leadership experience. Erich spent over 20 years at Deutsche Bank, first heading Capital Markets & Treasury Solutions group, then serving as Managing Director and Vice Chairman of Corporate Finance North America. Erich’s fierce work ethic extends beyond even his executive experience—in 1992, Erich competed in the Olympics for South Africa’s Men’s rowing team. Erich earned his BA from Brown University.
Jushi’s COO, Max Cohen has significant experience in the cannabis industry and was a founding board member pre-IPO of Green Thumb Industries (GTI), a leading multi-state-operator in the United States. Max serves as Founder and CEO of The Clinic™ Colorado, a large-scale cannabis retailer. Max is a founding member of the Marijuana Industry Group, and a member of the Board of Directors for the National Cannabis Industry Organization (a national marijuana lobbying and policy organization).
These are just a few of the key players at Jushi and we are impressed with the management team’s experience and track record. When you are investing in a cannabis company, you are really investing in the management team and we believe that this is an area where Jushi excels.
A New Listing to be Watching
On Monday, June 10th, Jushi will commence trading under the symbol (NEO:JUSH.B) and this is a listing that we will be closely watching. We are favorable on the company’s opportunity when it comes to the cannabis market in the US and will monitor how the team continues to execute. Jushi is in the middle of a major expansion and is planning on entering several of the largest cannabis markets in the US.
Over the next year, we expect Jushi to record strong growth and the company is well capitalized and well positioned to take advantage of inorganic and organic growth opportunities. We expect the market to respond favorably to this new listing and this is an opportunity to be watching.
To stay up to date with the US cannabis company and learn more about the upcoming listing, please reach out to firstname.lastname@example.org.
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This article 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 Jushi Holdings Inc.’s (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, the ability of the combined company to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.
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