Jushi Holdings Inc (CSE: JUSH), through its wholly-owned subsidiary, Jushi Inc, has completed the total acquisition of TGS Illinois Holdings LLC, and now owns 100% of the Sauget and Normal cannabis dispensaries.
Previously, Jushi Holdings had a 75 percent interest in the two dispensaries, but now it has closed the acquisition on the remaining 25 percent interest. The two cannabis dispensaries in Illinois are both eligible to open a second retail store and become an adult-use dispensary, dependent on Illinois Department of Financial & Professional Regulation (IDFPR) approval.
Both the Sauget, IL and Normal, IL dispensaries are branded under The Green Solution, but now that the acquisition is complete, Jushi plans to change the branding name to BEYOND/HELLO in the forthcoming year.
The state of Illinois legalized adult-use cannabis on January 1, 2020, and as of current, the Sauget dispensary has approval to sell cannabis for adult-use. The Normal dispensary however, has yet to seek adult-use approval from the IDFPR. Further, Jushi plans to open two more adult-use dispensaries in addition to the two in Sauget and Normal, as per the option outlined by the IDFPR.
Jushi Holdings Inc is a hemp and cannabis company operating in the United States, and is currently trading at $1.70 on the CSE.
Information for this briefing was found via Sedar and Jushi Holdings Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.