Jushi Subsidiary Purchases Two Dispensaries in Illinois

Jushi Holdings (CSE:JUSH,OTCQX:JUSHF) announced that its wholly owned subsidiary has become the majority owner of two Illinois medical cannabis dispensaries by being transferred a majority stake in their holding company.

As quoted in the press release:

The Sauget dispensary has been approved for adult-use.  The Normal dispensary is eligible to seek approval from the Illinois Department of Financial and Professional Regulation (“IDFPR”) to also become an adult-use dispensary.  Each dispensary is eligible to seek approval from the IDFPR to open a second retail location.

Each of the 55 existing medical dispensaries in Illinois has the option of adding a second retail location and adding adult-use to the dispensaries. Jushi intends to exercise these options with respect to the two existing dispensaries and have four dispensaries open and operating in 2020 as adult-use storefronts, subject to regulatory approvals. The two existing dispensary locations currently operate as The Green Solution (“TGS”) but will transition to BEYOND/HELLO branding during the year, and are located at 2021 Goose Lake Road, Sauget, IL 62206 and 501 West Northtown Road, Normal, IL 61761.

Click here to read the full press release.