Jushi Holdings Inc (JUSHF)

[MoneyForNuthin]

$JUSHF CEO and Chairman Purchases 300,000 Subordinate Voting Shares of Jushi

September 4, 2019 - Jushi Holdings Inc. CEO and Chairman Purchases 300,000 Subordinate Voting Shares of Jushi

https://www.newswire.ca/news-releases/jushi-holdings-inc-ceo-and-chairman-purchases-300-000-subordinate-voting-shares-of-jushi-855086879.html

At today's exchange rate (Canadian $ to US $), the CEO purchased 300,000 shares at $1.672 just 2 months ago. That's just over $500K!

BOCA RATON, Fla., Sept. 4, 2019 /CNW/ -- One East Partners, LP ("One East"), an asset management company, and Jushi Holdings Inc. ("Jushi" or the "Company") (NEO: JUSH.B), a globally-focused, multi-state cannabis and hemp operator, jointly announce the acquisition by One East of 300,000 Class B subordinate voting shares ("Subordinate Voting Shares") of Jushi at price of CAD $2.20 per Subordinate Voting Share, for a total aggregate purchase price of CAD $660,000, pursuant to a private agreement exemption. One East purchased such Subordinate Voting Shares from two sellers and at a price less than 115% of the market price, in accordance with National Instrument 62-104 – Take-Over Bids and Issuer Bids. The transaction was completed by One East, where Jim Cacioppo serves as Managing Director and sole partner. Mr. Cacioppo is also the CEO and Chairman of Jushi Holdings Inc.

As a result of this transaction, Jim Cacioppo, together with his joint actors, currently own 114,000 Class A super voting shares of the Company and 1,656,092 Subordinate Voting Shares. Such shares give Mr. Cacioppo an approximately 41.62% voting interest in the Company (based on the number of votes attributable to all issued and outstanding shares of each class of shares of the Company) and represent approximately 25.37% of the issued and outstanding Subordinate Voting Shares, assuming conversion of all convertible securities of Jushi held by Mr. Cacioppo into Subordinate Voting Shares but otherwise on a non-diluted basis.

Jim Cacioppo commented, "This off-market purchase of Jushi shares via One East is reflective of my confidence in the Company's expansive vision of creating an integrated global cannabis and hemp operator. The Company's strong performance and strategic investments in limited license markets place us on the path of building long-term shareholder value. The Company's success is marked by investing in the future growth that we expect to achieve in the cannabis and hemp industry, underpinning our mission of returning excess capital to shareholders."

The Subordinate Voting Shares were acquired by One East and Mr. Cacioppo for investment purposes only. One East and Mr. Cacioppo's view of the Company and investment may change from time to time depending on market and other conditions, or as future circumstances may dictate from time to time. From time to time One East and Mr. Cacioppo may increase or dispose of some or all of their ownership in the Company (subject to contractual lock-up arrangements) or may continue to hold its current position.

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 work-outs 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.