James Cacioppo Increases Stake in Jushi Holdings Inc.
On February 25, 2025, James Cacioppo, the Chief Executive Officer, Chairman, and Founder of Jushi Holdings Inc. shared news of acquiring a warrant through a private offering. The warrant allows him to purchase subordinate voting shares of the company. The transaction included the issuance of a US$3,719,000 12% second lien promissory note due 2026 along with the warrant. The specifics of the warrant state that Mr. Cacioppo has the right to buy subordinate voting shares at a price per share (the “Purchase Price”) calculated based on a premium to the volume weighted average price of the shares on the relevant stock exchange. The Warrant can be exercised from the date the Purchase Price is determined until 5:00 p.m. (Eastern Time) on February 25, 2030.
Before obtaining the warrant, Mr. Cacioppo and his affiliated entities held approximately 17.87% of the outstanding subordinate voting shares, including options and warrants. Following the completion of the offering, they now hold between approximately 19.85% and 19.99% of the issued subordinate voting shares. These details are made known in accordance with National Instrument 62-104 – Take-Over Bids and Issuer Bids(“NI 62-104”) requirements. Additional reports about this matter will be filed on SEDAR+ (www.sedarplus.ca) for public access, as per National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
Jushi Holdings Inc. is a cannabis company that operates with a vertically integrated approach under a dedicated management team within the industry. Their objective is to develop a multi-state portfolio of branded cannabis assets through strategic acquisitions, distressed workouts, and competitive applications. The company is committed to maximizing shareholder value by delivering top-notch products across all segments of the cannabis ecosystem.
The contents of this press release are based on forward-looking information and statements in accordance with applicable securities laws. This includes both Canadian and United States securities legislation. Forward-looking information reflects the Company’s current internal expectations, projections, and assumptions regarding future activities, events, or developments. These statements encompass a range of future-oriented information such as financial details, business strategies, expansion plans, market opportunities, and potential outcomes from various undertakings.
Overall, the acquisition of the warrant by James Cacioppo for purchasing subordinate voting shares of Jushi Holdings Inc. marks a significant move in the company’s capital structure. The transparency provided through this press release offers investors and stakeholders insights into the ongoing developments within the organization and its commitment to shareholder value.