BOCA RATON, Fla., November 22, 2022 — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced that, further to a review by the Ontario Securities Commission (the “OSC”) of the Company’s continuous disclosure and a subsequent request from OSC staff in connection therewith, the Company has filed its registration statement on Form S-1 (the “Registration Statement”), made effective with the United States Securities and Exchange Commission on August 12, 2022, on SEDAR in accordance with OSC Staff Notice 57-711 (Revised) Refilings and Corrections of Errors (“Notice 51-711”) in order to make the corrective disclosure described in this press release.
Prior to the Registration Statement becoming effective, the Company prepared its financial statements in accordance with International Financial Reporting Standards (“IFRS”). Pursuant to applicable United States securities law, the Company was required to prepare and include with the Registration Statement audited consolidated financial statements as of and for the years ending December 31, 2021 and 2020 in accordance with generally accepted accounting principles in the United States (the “US GAAP Annual Statements”). Accordingly, the Company prepared and filed the US GAAP Annual Statements as an exhibit to the Registration Statement.
Following the effective date of the Registration Statement, in accordance with applicable Canadian securities laws, the Company filed amended and restated interim condensed financial statements for the periods ending March 31, 2022 and June 30, 2022 respectively, including amended and restated management’s discussion and analysis for each such interim period (together, the “2022 Interim Statements”). The 2022 Interim Statements each incorporated by reference the US GAAP Annual Statements included as an exhibit to the Registration Statement, however, as noted by the OSC in its review of the Company’s continuous disclosure, the US GAAP Annual Statements had not been filed on SEDAR in Canada. To support this cross reference to the US GAAP Annual Statements in the 2022 Interim Statements and any cross references to the US GAAP Annual Statements in future continuous disclosure filings in Canada, the Company has made the necessary corrective disclosure by filing the Registration Statement, inclusive of the US GAAP Annual Statements, on SEDAR.
As a result of the filing of this disclosure, the Company will be placed on the public list of Refiling and Errors in accordance with Notice 51-711.
About Jushi Holdings Inc.
We are a vertically integrated cannabis company led by an industry-leading management team. In the United States, Jushi is focused on building a multi-state portfolio of branded cannabis 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 ecosystem. For more information, visit jushico.com or our social media channels, Instagram, Facebook, Twitter and LinkedIn.