Jushi Holdings (NEO: JUSH.B) (OTCQX: JUSHF), a globally focused, multi-state cannabis and hemp operator, recently announced that One East Partners, LP acquired 300,000 Class B subordinate voting shares of the company at price of C$2.20 each for a total purchase price of C$660,000 pursuant to a private agreement exemption. One East purchased the shares from two sellers at less than 115% of the market price, in accordance with National Instrument 62-104 – Take-Over Bids and Issuer Bids. Jim Cacioppo serves as Managing Director and sole partner of One East in addition to his role as Jushi Holdings’ chairman and CEO. As a result of this transaction, Cacioppo, together with his joint actors, owns 114,000 Class A super voting shares of the company and 1,656,092 subordinate voting shares, equaling an estimated 41.62% voting interest in the company. “This off-market purchase of Jushi shares via One East is reflective of my confidence in the company’s expansive vision of creating an integrated global cannabis and hemp operator. The company’s strong performance and strategic investments in limited license markets place us on the path of building long-term shareholder value. The company’s success is marked by investing in the future growth that we expect to achieve in the cannabis and hemp industry, underpinning our mission of returning excess capital to shareholders,” Jim Cacioppo stated in the news release.
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About Jushi Holdings Inc.
Jushi Holdings is 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, visit the company’s website at www.JushiCo.com.
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