Jushi Holdings Inc. (“Jushi” or the “Company”) (NEO: JUSH.B), a globally-focused, multi-state cannabis and hemp operator, today announced open market share purchases executed by certain Jushi insiders for a total of 245,900 Class B subordinate voting shares (“Subordinate Voting Shares“) that were made from June 14, 2019 through July 23, 2019. The Subordinate Voting Shares were purchased by Denis Arsenault, Board Advisor, Erich Mauff, President, Board Member and Co-founder, and Louis Jon Barack, Co-founder, EVP, Business Development.

The transactions, valued at approximately USD$516,504 in the aggregate, were executed on the Neo Exchange Inc. open market from Friday, June 14^th through Tuesday, July 23^rd. Following completion of the transactions, each of Denis, Erich, Louis and Jim Cacioppo, CEO and Chairman of Jushi, own the securities noted below.

Denis Arsenault currently owns 4,000,000 Class C multiple voting shares (“Multiple Voting Shares“) and 2,069,853 Subordinate Voting Shares. Each Multiple Voting Share carries 10 votes and is convertible into 1 Subordinate Voting Share. Such shares give Mr. Arsenault an approximately 15.23% voting interest in the Company and represent approximately 13.97% of the issued and outstanding Subordinate Voting Shares, assuming conversion of all convertible securities of Jushi held by Mr. Arsenault into Subordinate Voting Shares but otherwise on a non-diluted basis.

Erich Mauff currently owns 20,000 Class A super voting shares (“Super Voting Shares“) and 1,302,403 Subordinate Voting Shares. Each Super Voting Share carries 1000 votes and is convertible into 100 Subordinate Voting Share. Such shares give Mr. Mauff an approximately 7.71% voting interest in the Company and represent approximately 7.98% of the issued and outstanding Subordinate Voting Shares, assuming conversion of all convertible securities of Jushi held by Mr. Mauff into Subordinate Voting Shares but otherwise on a non-diluted basis.

Louis Jon Barack currently owns 15,000 Super Voting Shares and 836,500 Subordinate Voting Shares. Such shares give Mr. Barack an approximately 5.73% voting interest in the Company and represent approximately 5.14% of the issued and outstanding Subordinate Voting Shares, assuming conversion of all convertible securities of Jushi held by Mr. Barack into Subordinate Voting Shares but otherwise on a non-diluted basis.

Jim Cacioppo currently owns 114,000 Super Voting Shares and 1,356,092 Subordinate Voting Shares. Such shares give Mr. Cacioppo an approximately 41.77% voting interest in the Company and represent approximately 25.48% 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, Jushi CEO and Chairman, commented, “The Insiders purchase of stock in the open-market demonstrates our confidence in the long-term growth opportunities of Jushi and our commitment to delivering shareholder value. We believe that the current trading price reflects an attractive valuation and that that this is opportune time to continue investing in Jushi given the underlying value of our assets including licenses in limited license markets and growth we expect to achieve in cannabis and hemp. The four founders of our company remain, collectively, the largest percentage owners of Jushi and expect to continue to invest in the open market purchases at the current prices during open windows in accordance with applicable securities laws.”

SOURCE Jushi Holdings Inc.