Freshly Public, This Company is Building a Global Cannabis Footprint
Ash Stringer
June 13th, 2019
App, Exclusive, Top News
Jushi Holdings Inc. (NEO: JUSH) made its public debut on Monday, June 10th. The Boca Raton-based company has assembled a highly skilled and diversified team that is moving with a purpose, building a global footprint via organic and inorganic growth to capitalize on booming demand for cannabidiol, or CBD, in North America and abroad.
According to Cowen Equity Research and Marijuana Business Daily, global legal cannabis sales are forecasted to climb from about $9.6 billion in 2017 to $75 billion in 2030. In our opinion, there is no better time to be invested in this burgeoning industry.
Additionally, CBD is a non-psychotropic molecule found in cannabis and hemp. The US Farm Bill, passed in December 2018, allowed, states to legalize industrial hemp and CBD products within their state paving the way for interstate commerce, while setting off a race to develop new products from hemp-derived CBD.
According to a report by market analysts at the Brightfield Group published in September 2018, hemp-based CBD is expected to blossom from around $600 million in 2018 to $22 billion by 2022.
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Operations Across the United States
Jushi and its portfolio companies have hemp operations in New York and are in the process of securing cannabis operations in California, New York, Virginia, Pennsylvania, Ohio, and Nevada as well as additional states. The targets in California, the biggest cannabis market in North America, include several handpicked retail cannabis locations with delivery capabilities and licenses for distribution, cultivation and processing.
In the East, Jushi is emerging as a leading player through its acquisition of Mend Products, formation of its hemp-centric subsidiary, Sound Wellness Holdings, Inc. earlier this year, and its relationship with the DENT Neurologic Institute in Buffalo, NY.
Quality is a differentiator for Jushi. All Jushi products are tested by an independent third party to ensure consistency for its premium goods, which cover the full spectrum, including oils, soft gel caps, creams, tinctures and more. Most products on the market today do not go through any independent testing to ensure consistency across batches, safety and quality, or even CBD levels.
Meanwhile, the company’s subsidiary Sound Wellness, LLC, which earned a hemp processing license through NY’s Industrial Hemp Agricultural Research program, is moving forward with its own hemp/CBD manufacturing facility in upstate New York. When completed, Sound Wellness will have one of the largest industrial hemp processing, extraction and manufacturing operations in the Northeastern United States.
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Scientific Commitment to Health and Wellness
Coupled with savvy acquisitions, partnerships and key hires, Jushi has access to private research thanks in part to Jushi’s Medical Director, Dr. Laszlo Mechtler, and Jushi’s Medical President, Steven Przybyla. Dr. Mechtler, a world-renowned expert in cannabis and cannabis research, was a founder of Mend and still serves as Medical Director at the DENT Neurologic Institute, operator of the largest medical cannabis program in New York.
With Dr. Mechtler’s oversight, the full-spectrum CBD-hemp derived products of Mend are formulated using patient data collected from thousands of patients and formulated by board-certified physicians with a dynamic process for revisions based upon new data. Dent’s large pool of patient data indicates substantial benefits from cannabis-derived products. Further, Dent and Mend are in the process of initiating groundbreaking research through two planned clinical studies into the impact of Mend products.
Prior to taking on the role of President of Jushi Medical, Steven Przybyla worked as EVP of Business Development, General Counsel and Director of Cannabis Programs at DENT, strengthening the ties between Jushi and the prestigious institution.
The Mend Store held its grand opening in Dent Tower in Buffalo on June 3, 2019. While open to public, the Mend Store also expects to serve patients of DENT’s medical cannabis program. Sales have started strong and are exceeding internal estimates.
Other initiatives of the company include international expansion by Jushi Europe, which will be focused on an early stage market through a separately financed entity.
Elsewhere, Jushi recently acquired the trademarks The ClinicTM, The Clinic Consulting ServicesTM, The BankTM and The LabTM as well as, subject to certain limited exceptions, intellectual property derived from the operations of The ClinicTM Colorado. The Clinic™ Colorado, a Denver-based cannabis company, is known for its intellectual property concerning cannabis cultivation, processing, retail distribution, compliance, and safety in multiple states, and has received more industry awards than any other cannabis company in the US with 32 first place awards. The Clinic™ Colorado has had a track record of success with The BankTM owning intellectual property to cultivation and genetics of over 150 different strains and the Lab’sTM intellectual property consisting of proprietary concentrates and extraction techniques. This sophisticated IP will complement Jushi’s expanding platform.
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The Upshot
Piloted by Deutsche Bank corporate finance veteran Erich Mauff (Founder, President, Board Member) and experienced hedge fund manager Jim Cacioppo (Founder, CEO, Chairman of the Board), Jushi combines public company and capital markets know-how with an excellent mix of cannabis and medical executives to create a multi-state operator with a commitment to shareholder value and highest quality products.
These fundamentals underpin management and advisors investing more than $20 million of the approximately $135 million that Jushi raised since February 2018 to support growth through its diverse capital allocation methodology. With Jushi recently going public on Monday, June 10th, keep an eye on further developments as the company executes its vision of becoming a bold, new, principled leader in the cannabis and hemp industry.
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Disclaimer
The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer/
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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