Jushi Holdings Inc. to Report First Quarter 2020 Financial Results on or Before July 14, 2020
BOCA RATON, Fla., May 28, 2020 (GLOBE NEWSWIRE) -- Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a globally focused, multi-state cannabis and hemp operator, today announced that it expects to report its financial results for the first quarter ended March 31, 2020, as well as its accompanying management discussion and analysis (collectively “Filings”) on or before July 14, 2020.
Jushi is relying on the exemption granted by the Canadian Securities Administrators (CSA) providing issuers with a 45-day filing extension for filings required on or before June 1, 2020 in accordance with BC Instrument 51-515, Temporary Exemption from Certain Corporate Finance Requirements. The CSA’s extension was in response to COVID-19 and will provide issuers additional time to focus on the many other business and financial reporting implications of COVID-19.
Additionally, the Company confirms that since the filing of its previous financial results for the fourth quarter and full year ended December 31, 2019 there have not been any material business developments other than those disclosed through news releases and filed with SEDAR.
During this time, Jushi’s management and insiders are subject to a trading black-out period that reflects the principles in section 9 of National Policy 11-207, Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
About Jushi Holdings Inc.
We are a globally focused cannabis and hemp company led by an industry leading management team. In the United States Jushi is focused on building a multi-state portfolio of branded cannabis and hemp-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 and hemp ecosystem. For more information please visit www.jushico.com or our social media channels, Instagram, Facebook, Twitter and LinkedIn.
Forward-Looking Information and Statements
This press release contains certain “forward‐looking information” within the meaning of applicable securities laws, including Canadian securities laws and U.S. securities laws. All information, other than statements of historical facts, included in this document that address activities, events or developments that Jushi expect or anticipate will or may occur in the future constitutes forward‐looking information. Forward‐looking information is often, but not always, identified by the words, “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes, among others, information regarding: future business strategy; competitive strengths, goals, expansion and growth of Jushi’s business; operations and plans, including new revenue streams; the completion of contemplated acquisitions by Jushi of additional assets; roll out of new operations; the implementation by Jushi of certain product lines; implementation of certain research and development; the application for additional licenses and the grant of licenses that will be or have been applied for; the expansion or construction of certain facilities; the expansion into additional U.S. and international markets; any potential future legalization of adult use and/or medical marijuana under U.S. federal law; expectations of market size and growth in the U.S. and the states in which Jushi operates; expectations for other economic, business, regulatory and/or competitive factors related to Jushi or the cannabis industry generally; and other events or conditions that may occur in the future.
Readers are cautioned that forward‐looking information and statements are not based on historical facts but instead are based on assumptions and estimates of management of Jushi at the time they were provided or made, based on factors that management believes are appropriate and reasonable in the circumstances, and involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Jushi, as applicable, to be materially different from any future results, performance or achievements expressed or implied by such forward‐looking information and statements. Such factors include, among others: risks relating to the ability to complete the pipeline transactions; risks relating to the U.S. regulatory landscape and enforcement related to cannabis, including political risks; risks relating to anti‐money laundering laws and regulation; risks relating to other governmental and environmental regulation; risks related to public opinion and perception of the cannabis industry; risks relating to the economy generally; risks relating to pandemics and forces of nature including but not limited to COVID-19; risks relating to contracts with third party service providers; risks relating to the enforceability of contracts; risks relating to the limited operating history of Jushi; risks relating to reliance on the expertise and judgment of senior management of Jushi; risks inherent in an agricultural business; risks relating to co‐investment with parties with different interests to Jushi; risks relating to proprietary intellectual property and potential infringement by third parties; risks relating to the concentrated founder voting control of Jushi and the unpredictability caused by the anticipated capital structure; risks relating to the Company’s recent debt financing and other financing activities including leverage and the dilution caused by issuing additional securities; risks relating to the costs associated with Jushi being a publicly traded company; risks relating to increasing competition in the industry; risks associated to cannabis products manufactured for human consumption including potential product recalls; risks relating to reliance on key inputs, suppliers and skilled labor; risks relating to reliance on manufacturers and contractors; risks relating to supply shortages or supply chain disruptions; cybersecurity risks; risks relating to constraints on marketing products; risks relating to fraudulent activity by employees, contractors and consultants; tax and insurance related risks;; risk of litigation; risks relating to conflicts of interest; risks relating to certain remedies being limited and the difficulty of enforcement of judgments and effect service outside of Canada; risks relating to executed or future acquisitions or dispositions, including potential future impairment of goodwill or intangibles acquired; risks relating to the sale of Jushi securities by existing shareholders; risks relating to the limited market for securities of the Company; risks relating to the limited research and data relating to cannabis; risks relating to the Company’s critical accounting policies and estimates; and other risks and uncertainties which are more fully described in the Company’s Filing Statement dated December 5, 2019 and other filings with securities and regulatory authorities which are available at www.sedar.com. Although Jushi has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward‐looking information and statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such information and statements. Accordingly, readers should not place undue reliance on forward‐looking information and statements. Forward‐looking information and statements are provided and made as of the date hereof and Jushi does not undertake any obligation to revise or update any forward‐looking information or statements other than as required by applicable law.
For further information, please contact:
Executive Vice President of Investor Relations and Treasury
Released May 28, 2020