Jushi Holdings Inc. , a globally- focused, multi-state cannabis and hemp operator, has signed a definitive agreement to acquire 80% of the economic and voting interests in Agape Total Health Care Inc , pending applicable regulatory approvals. Through the acquisition, Jushi will acquire a majority ownership in Agape, a Pennsylvania Dispensary Permittee. Agape plans on opening three retail locations in the Philadelphia region, Reading and Pottsville.
“With the closing of the Agape transaction, Jushi will have completed its participation in the maximum number of permitted retail locations in Pennsylvania, a key limited license market on the East Coast,” stated Jim Cacioppo, CEO and Chairman of Jushi. “Upon closing of this transaction, we will operate five retail locations under the BEYOND/HELLO brand with a plan to open four more during the fourth quarter of 2019. All of these locations and the additional six to be opened are located in densely populated, high traffic communities. Quickly achieving a strong presence in a limited license medical market such as Pennsylvania continues to execute our broader retail strategy.”
Highlights of the Planned Agape Dispensary Locations:
Philadelphia is the largest city in Pennsylvania, and the sixth-most populous U.S. city according to the U.S. Census Bureau. The city has evolved into an educational and economic center with many top universities, medical schools, and colleges located in the area. This dispensary will be strategically located in a high traffic area in downtown center city close to patient healthcare centers.
Reading is one of the largest cities in Berks Country with a population of approximately 90,000 residents and located approximately 45 miles from downtown Philadelphia. This dispensary will be one of only four dispensaries located in Reading.
Pottsville is a historic city centrally located in Pennsylvania and home to America’s oldest operating brewery. This dispensary will be the first dispensary located in the Pottsville area.
Recently, Jushi announced the closing of the acquisition of 100% membership interests in Franklin Bioscience – Penn LLC and its subsidiaries (“FBS”), allowing for 12 medical marijuana dispensaries in the Commonwealth of Pennsylvania. Under the BEYOND/HELLO brand, Jushi will operate the Agape and FBS dispensaries (allowing for up to 15 dispensaries in the Commonwealth), which is the current maximum allowable number of permits that can be operated by one company or its affiliates in Pennsylvania, outside of the Clinical Registrant program.
Russell Kuchta, President of Agape, stated “my partner, Tom Huzela and I are pleased to begin working with the Jushi team, leveraging their core operational expertise to open our three dispensary locations quickly in one of the most attractive regions in the Commonwealth.”
Pennsylvania is the fifth largest state in the country with approximately 13 million residents, operating with a high barrier of entry from a limited number of medical marijuana permits. Pennsylvania’s medical cannabis market is expected to become one of the largest markets in the U.S. Recently, Pennsylvania updated its Qualifying Medical Conditions to include anxiety and Tourette Syndrome, which is expected to accelerate the increase in registered patients (currently 180,000 as of August 2019) in the Commonwealth.
Under the terms of the transaction, Jushi will pay an undisclosed amount of stock, notes and cash for the acquisition.
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.
Jushi Holdings Inc .是一家专注于全球、多国大麻和大麻的运营商，该公司已签署最终协议，收购 Agape Total Health Care Inc .80%的经济和投票权益，等待相关监管机构批准。通过此次收购， Jushi 将获得宾夕法尼亚州特许经营机构 Agape 的多数股权。阿加普计划在费城地区雷丁和波茨维尔开设三家零售店。
Jushi 首席执行官兼董事长吉姆•卡西奥波( Jim Cacioppo )表示：“随着阿加普交易的完成， Jushi 将完成对宾夕法尼亚州最多允许零售门店的参与，这是东海岸一个关键的有限许可市场。”“本次交易完成后，我们将在 BEYND / HELLO 品牌下运营五个零售网点，计划在2019年第四季度再开设四个。所有这些地点和另外6个将要开放的地点都位于人口密集、交通繁忙的社区。快速实现在有限的许可医疗市场，如宾夕法尼亚州的强大存在继续执行我们更广泛的零售战略。”
计划中的 Agape 色散位置的亮点：
最近， Jushi 宣布收购 Franklin Bioscience – Penn LLC 及其子公司（“ FBS ”）100%的会员权益，允许在宾夕法尼亚联邦设立12家医用大麻药房。在 BEYODD / HELLO 品牌下， Jushi 将经营 Agape 和 FBS 药房（允许联邦最多15家药房），这是目前允许的最大允许数量的许可证，可以由一家公司或其分支机构在宾夕法尼亚州的临床注册计划之外经营。
Agape 总裁 Russell Kuchta 表示：“我的合作伙伴 Tom Huzela 和我很高兴开始与 Jushi 团队合作，利用他们的核心业务专长，迅速在联邦最具吸引力的地区之一开设我们的三家药房。”
我们是一家全球性的大麻和大麻公司,由行业领先的管理团队领导.在美国， Jushi 专注于通过机会主义收购、艰难的工作和竞争性应用，建立一个由品牌大麻和大麻衍生资产组成的多国投资组合。Jushi 致力于实现股东价值最大化，同时在大麻和大麻生态系统各级提供高质量的产品。