BOCA RATON, Florida, November 17, 2021 – PRESS RELEASE – Jushi Holdings Inc. (Jushi), a multi-state vertically integrated cannabis operator, announced that it has entered into a definitive agreement to acquire NuLeaf, Inc., a Nevada-based vertically integrated operator, for a total price of up to 62 , Hit $ 5 million.
In addition to a 27,000 square foot grow facility in Sparks, Nevada and a 13,000 square foot processing facility in Reno, Nevada, NuLeaf operates two adult and medical retail pharmacies. In addition, NuLeaf owns a third licensed retail dispenser right on Las Vegas Boulevard: the Las Vegas Strip Dispensary, which is expected to open early next year, subject to regulatory approval and other conditions.
Upon completion of the acquisition of NuLeaf and the previously announced acquisition of Apothecarium Nevada, Jushi will expand its retail presence to four pharmacies in the $ 1 billion cannabis market in Nevada, three of which are in the Las Vegas area. The company will also strengthen its existing cultivation and processing capabilities in the state with the addition of NuLeaf’s high quality facilities and provide a strategic entry point into the Nevada wholesale market.
“We are very pleased to have entered into an agreement to acquire NuLeaf, a vertically integrated operator with the potential to significantly expand our presence in Nevada’s retail and wholesale markets,” said Jim Cacioppo, Jushi Founder, Chairman and CEO. “NuLeaf has a well-established retail network of quality, design-driven pharmacies in sought-after, high-traffic destinations. In addition, NuLeaf’s growing and processing facilities are heavily aligned with our strategic expansion strategy in Nevada, generating significant sales growth and immediate profitability, as well as increasing the market share of Jushi’s world-class brands and building a leadership position in one of the largest cannabis markets in the United States. “
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