Jushi Holdings Inc (OTCMKTS: JUSHF) Reports A Growth Of 29% QoQ In Q1 2021 Revenues And Realizes Profit Of $20.1 Million

Jushi Holdings Inc (OTCMKTS: JUSHF) posted a growth of 29% QoQ in Q1 2021 revenues to $41.7 million. The company realized a profit of $20.1 million.

Jushi holds short-term investments, cash equivalents (CE), and cash of $167.9 million at the end of Q1 2021. 

Inaugurates Medical Marijuana dispensary in Pennsylvania

Franklin Bioscience – NE LLC, a subsidiary of Jushi, inaugurates its 13th BEYOND / HELLO Medical Marijuana Dispensary (MMD) in Pennsylvania on June 11, 2021. It is the 20th MMD under the BEYOND / HELLO brand across the nation. 

Caregivers and medical marijuana patients can avail of in-store experience at its Pennsylvania-based MMD. The customers can choose the express pick-up option and reserve their products online. 

Jushi’s CEO, Jim Cacioppo, said the company achieved a milestone of 20th MMD nationwide by opening its first MMD under the brand Beyond/ Hello in Pennsylvania. 

The new retail location allows the customers to access its innovative products such as Seche, Tasteology, Nira+, The Lab, and The Bank in the future. 

Takes over Organic Solutions of the Desert, LLC

Jushi took over Palm Springs, California-based operating dispensary – Organic Solutions of the Desert, LLC on May 04, 2021. It also acquired a 78% stake in Grover Beach, California-based retail location with an option to purchase the balance stake in the future. 

Jushi will implement customer-focused and best-in-class retail approach that comprises an express pick-up option and an online reservation facility at its Palm Springs dispensary. In Q3 2021, the company will establish BEYOND / HELLO Grover Beach location. 

Palm Springs, which attracts over 14 million tourists a year, is the best luxury location for travelers and an attractive market. Jushi operates its dispensary – Organic Solutions, at 4765 E Ramon Road. 

Jushi will operate its Grover Beach location to deliver high-quality cannabis brands such as Vapes, topical, edibles, extracts, flower, merchandise, sublinguals, and tinctures. 

Jushi clinched a 93,000 sq. ft. facility together with the surrounding nine acres operated by its subsidiary and Dalitso LLC, a Virginia-based pharmaceutical processor.

Signs a pact to clinch OhiGrow, LLC

Jushi entered a definitive pact on April 20, 2021, to take over OhiGrow, LLC, for $5 million. The deal includes 1.35 acres of land and a 10,000 sq. Ft. facility. 

OhiGrow will complement the medical cannabis processing facility in Ohio, whereas Jushi will provide its consultation and operational expertise. Jushi expects to complete the deal in Q3 2021. 

Related Posts

About The Author