Jushi Holdings Inc. Issues Statement on Gov. Tom Wolf Signing Omnibus Bill Modernizing the Pennsylvania Medical Marijuana Program
BOCA RATON, Fla., July 01, 2021 (GLOBE NEWSWIRE) -- Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated, multi-state cannabis operator, issued a statement regarding Pennsylvania Governor Tom Wolf signing a bipartisan bill passed by the General Assembly last Friday with a 47-3 Senate vote followed by a House concurrence vote supported by 82.3% of House members. The bill, now signed into law, includes numerous patient-focused updates to the Pennsylvania Medical Marijuana Program, the majority of which became effective immediately upon the Governor’s signing.
Commenting on these latest updates, Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi said:
I commend Governor Tom Wolf (D), State Rep. Paul Schemel (R-Franklin), State Rep. Jake Wheatley (D-Allegheny) and the Pennsylvania General Assembly for taking additional steps forward that will help cement Pennsylvania’s status as one of the best medical cannabis programs in the country.
Specifically, the new law codifies and makes permanent the public health and patient safety protections originally authorized during the COVID-19 Emergency Declaration, such as curbside pickup, increasing the maximum quantity of dispensed medicine to a patient or caregiver in a single purchase from a 30-day supply to a 90-day supply and allowing healthcare providers and pharmacists to interact with patients via telemedicine. These and the other public and patient safety protections authorized during the COVID emergency will help us and the industry generally protect a medically vulnerable population of Pennsylvanians.
Additionally, the new legislation makes job opportunities and other types of industry participation possible for individuals with a conviction for a misdemeanor offense at any time in their past, or felony offense related to manufacturing, delivering or possession with intent to manufacture or deliver a controlled substance after 10 years at any time in their past, to participate in the cannabis sector. This change will give many Pennsylvanians a fresh start at a time when the industry is investing millions of dollars in infrastructure, creating thousands of family sustaining jobs, generating millions of dollars in state tax revenue and is acutely focused on creating a more equitable industry landscape.
Pennsylvania now has the ability to consider advisory board-based recommendations for regulations and further provide for electronic tracking for storage, transportation and laboratories, ensuring leaders across the Commonwealth are empowered with the most comprehensive and current information and data available.
Via a research study that will be performed by an academic clinical research center and its contracted clinical registrant, these updates also introduce the concept of limited microbial remediation for botanical products -- a widely adopted, safe practice that the vast majority of jurisdictions with legal medical marijuana programs implement. If the study is successful, which we have every expectation it will be, remediation should become more available in Pennsylvania, which would benefit patients through lower production costs, supply chain stabilization and reduced prices.
We were also pleased to see that the Wolf Administration and General Assembly expressly clarified that wholesale transactions among grower-processors permit holders are permissible, that grower-processors will be authorized to refresh their plant genetics at least once annually, and critically, that access to the Medical Marijuana Program Fund for low-income patients is dramatically facilitated under the new law.
We commend the Commonwealth on these changes and look forward to continuing to serve as an informed resource on important issues that would ultimately continue to improve the Pennsylvania Medical Marijuana Program for patients and their caregivers as the program continues to develop.
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-derived 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, please visit www.jushico.com or our social media channels, Instagram, Facebook, Twitter, and LinkedIn.
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Released July 1, 2021