Los Angeles CA, July 18, (Dr. Cyberspace) — by James O’Dell — It’s been quite a busy summer for MJ Business Jushi, the Boca Raton, Florida – based marijuana company on its way up.
Jushi, or Jushi Holdings Inc., is a leading vertically integrated multi-state cannabis and hemp operator now moving into Pennsylvania. In a big way.
Jushi just announced its $63 million acquisition of membership interests in four retail dispensary businesses from Pennsylvania-based Franklin Bioscience.
MJ Business Jushi To Benefit In limited license State
And the best part is…Jushi will benefit from Pennsylvania’s high barrier of entry and limited number of medical-marijuana permits. And with 13 million residents… Pennsylvania’s medical cannabis market is expected to become one of the largest in the U.S.
The acquisition gives Jushi the ability to open up to 12 locations, and establish a major presence in a limited license state.
The retail locations in Pennsylvania covered by the permits are:
- Southeast Region (Philadelphia area): allows for six stores and includes the two already operational Beyond/Hello dispensaries
- Northeast Region (Scranton area): allows for three stores
- Southwest Region (Pittsburgh area): allows for three stores
“Our investment in Pennsylvania has quickly cemented Jushi as a leader in this northeastern limited license state. These acquisitions include two stores that
are already operational with the opportunity for ten more,” said Jushi’s Chairman/CEO Jim Cacioppo.
Two Beyond/Hello dispensaries, one located in Philadelphia and one in Bristol, PA will be Jushi’s first operational cannabis dispensaries.
“Franklin Bioscience – Penn LLC had a wide range of companies interested in partnering with us and Jushi’s management team was the one we found most capable of meeting the growing needs of the Commonwealth’s medical marijuana patients. We look forward to Jushi assisting us with providing high-quality products to our patients and allowing for a better and healthier quality of life.” said Blythe Huestis, President of Beyond/Hello.
Jushi Trading On Canadian NEO Exchange
Jushi only recently began trading on Canada’s NEO exchange on June 10 under the ticker symbol JUSH.B.
The firm has entered into several acquisition agreements including a Virginia-based cannabis processing company, and an adult-use dispensary in California.
Dalitso LLC, the cannabis processing plant, is one of only five conditionally licensed cannabis businesses in Virginia.
The adult-use dispensary is located in San Diego and is called The Healing Center.
Qualifying conditions to become a medical marijuana patient vary throughout the country. The good news…Pennsylvania has a list of more than 20 qualifying conditions including Autism, Cancer, Crohn’s disease, and Epilepsy.
For more information on Pennsylvania’s medical marijuana program visit https://www.health.pa.gov.