Jushi Holdings Inc. to Report First Quarter 2020 Financial Results on or Before July 14, 2020
29 May 2020 - 7:30AM
Jushi Holdings Inc. (“Jushi” or the
“Company”) (CSE: JUSH) (OTCQX:
JUSHF), a globally focused, multi-state cannabis and hemp
operator, today announced that it expects to report its financial
results for the first quarter ended March 31, 2020, as well as its
accompanying management discussion and analysis (collectively
“Filings”) on or before July 14, 2020.
Jushi is relying on the exemption granted by the Canadian
Securities Administrators (CSA) providing issuers with a 45-day
filing extension for filings required on or before June 1, 2020 in
accordance with BC Instrument 51-515, Temporary Exemption from
Certain Corporate Finance Requirements. The CSA’s extension was in
response to COVID-19 and will provide issuers additional time to
focus on the many other business and financial reporting
implications of COVID-19.
Additionally, the Company confirms that since the filing of its
previous financial results for the fourth quarter and full year
ended December 31, 2019 there have not been any material business
developments other than those disclosed through news releases and
filed with SEDAR.
During this time, Jushi’s management and insiders are subject to
a trading black-out period that reflects the principles in section
9 of National Policy 11-207, Failure to-File Cease Trade Orders and
Revocations in Multiple Jurisdictions.
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
workouts 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 StatementsThis
press release contains certain “forward‐looking information” within
the meaning of applicable securities laws, including Canadian
securities laws and U.S. securities laws. All information, other
than statements of historical facts, included in this document that
address activities, events or developments that Jushi expect or
anticipate will or may occur in the future constitutes
forward‐looking information. Forward‐looking information is often,
but not always, identified by the words, “may”, “would”, “could”,
“should”, “will”, “intend”, “plan”, “anticipate”, “believe”,
“estimate”, “expect” or similar expressions and includes, among
others, information regarding: future business strategy;
competitive strengths, goals, expansion and growth of Jushi’s
business; operations and plans, including new revenue streams; the
completion of contemplated acquisitions by Jushi of additional
assets; roll out of new operations; the implementation by Jushi of
certain product lines; implementation of certain research and
development; the application for additional licenses and the grant
of licenses that will be or have been applied for; the expansion or
construction of certain facilities; the expansion into additional
U.S. and international markets; any potential future legalization
of adult use and/or medical marijuana under U.S. federal law;
expectations of market size and growth in the U.S. and the states
in which Jushi operates; expectations for other economic, business,
regulatory and/or competitive factors related to Jushi or the
cannabis industry generally; and other events or conditions that
may occur in the future.
Readers are cautioned that forward‐looking information and
statements are not based on historical facts but instead are based
on assumptions and estimates of management of Jushi at the time
they were provided or made, based on factors that management
believes are appropriate and reasonable in the circumstances, and
involve known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Jushi, as applicable, to be materially different
from any future results, performance or achievements expressed or
implied by such forward‐looking information and statements. Such
factors include, among others: risks relating to the ability to
complete the pipeline transactions; risks relating to the U.S.
regulatory landscape and enforcement related to cannabis, including
political risks; risks relating to anti‐money laundering laws and
regulation; risks relating to other governmental and environmental
regulation; risks related to public opinion and perception of the
cannabis industry; risks relating to the economy generally; risks
relating to pandemics and forces of nature including but not
limited to COVID-19; risks relating to contracts with third party
service providers; risks relating to the enforceability of
contracts; risks relating to the limited operating history of
Jushi; risks relating to reliance on the expertise and judgment of
senior management of Jushi; risks inherent in an agricultural
business; risks relating to co‐investment with parties with
different interests to Jushi; risks relating to proprietary
intellectual property and potential infringement by third parties;
risks relating to the concentrated founder voting control of Jushi
and the unpredictability caused by the anticipated capital
structure; risks relating to the Company’s recent debt financing
and other financing activities including leverage and the dilution
caused by issuing additional securities; risks relating to the
costs associated with Jushi being a publicly traded company; risks
relating to increasing competition in the industry; risks
associated to cannabis products manufactured for human consumption
including potential product recalls; risks relating to reliance on
key inputs, suppliers and skilled labor; risks relating to reliance
on manufacturers and contractors; risks relating to supply
shortages or supply chain disruptions; cybersecurity risks; risks
relating to constraints on marketing products; risks relating to
fraudulent activity by employees, contractors and consultants; tax
and insurance related risks;; risk of litigation; risks relating to
conflicts of interest; risks relating to certain remedies being
limited and the difficulty of enforcement of judgments and effect
service outside of Canada; risks relating to executed or future
acquisitions or dispositions, including potential future impairment
of goodwill or intangibles acquired; risks relating to the sale of
Jushi securities by existing shareholders; risks relating to the
limited market for securities of the Company; risks relating to the
limited research and data relating to cannabis; risks relating to
the Company’s critical accounting policies and estimates; and other
risks and uncertainties which are more fully described in the
Company’s Filing Statement dated December 5, 2019 and other filings
with securities and regulatory authorities which are available at
www.sedar.com. Although Jushi has attempted to identify important
factors that could cause actual results to differ materially, there
may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance 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. Accordingly, readers should not place undue reliance on
forward‐looking information and statements. Forward‐looking
information and statements are provided and made as of the date
hereof and Jushi does not undertake any obligation to revise or
update any forward‐looking information or statements other than as
required by applicable law.
For further information, please contact:
Investor RelationsMichael PerlmanExecutive Vice
President of Investor Relations and TreasuryInvestors@jushico.com
(561) 453-1308
Media ContactEllen MellodyMATTIO
CommunicationsEllen@Mattio.com (570) 209-2947
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