Jushi Holdings Inc. Announces Positive Changes to Manassas, VA Mortgage

Jushi Holdings Inc., a vertically integrated, multi-state cannabis operator, recently announced significant updates to its existing secured commercial loan with FVCBank, which is a favorable move for the company’s financial position. The modifications to the loan agreement include the receipt of an additional $4,000,000 in loan proceeds, an extension of the maturity date to September 18, 2030, and a reduction in the interest rate floor from 8.25% to 7.50%. The loan continues to be secured by the Company’s cultivation and manufacturing facility in Manassas, Virginia.

The infusion of $4,000,000 in additional loan proceeds will provide Jushi Holdings Inc. with the capital necessary for various purposes, including capital expenditures, working capital, and other corporate initiatives. This strategic move aims to bolster the company’s balance sheet and support its growth strategies moving forward. The strong financial foundation resulting from these modifications will enable Jushi to pursue its multi-state growth strategy and capitalize on opportunities in the cannabis market.

Jushi Holdings Inc. is committed to building a diverse portfolio of branded cannabis assets through acquisitions, workouts, and applications. The management team at Jushi is dedicated to maximizing shareholder value while delivering high-quality products across all segments of the cannabis industry. With a focus on strategic growth and long-term sustainability, Jushi is well-positioned to navigate the dynamic landscape of the cannabis market and drive value for its investors and stakeholders.

The Company’s current internal expectations and future projections are based on forward-looking information that reflects its goals for growth, expansion, and operational efficiency. Jushi anticipates new revenue streams, the implementation of product lines, research and development initiatives, expansion into new markets, and potential future legalization of adult use and medical marijuana under U.S. federal law. These forward-looking statements underscore the Company’s commitment to driving innovation and seizing opportunities in the evolving cannabis sector.

While the future holds promise and potential for Jushi Holdings Inc., it is essential to acknowledge the risks and uncertainties inherent in the cannabis industry. Factors such as limited operating history, increased competition, regulatory challenges, natural disasters, reliance on key personnel and suppliers, and economic conditions can impact the Company’s performance and results. Jushi remains committed to addressing these challenges proactively, leveraging its expertise, resources, and strategic initiatives to mitigate risks and maximize growth opportunities.

As Jushi navigates the complexities of the cannabis market, the Company remains focused on its core values of integrity, innovation, and excellence. By staying true to its mission and vision, Jushi plans to create sustainable value for its shareholders and customers while contributing to the growth and development of the cannabis industry as a whole. The recent modifications to its existing loan agreement represent a significant step forward for Jushi Holdings Inc., positioning the Company for continued success and expansion in the evolving cannabis landscape.