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Jushi Holdings To Acquire Nevada-Based NuLeaf For US$62.5 Million

Jushi Holdings (CSE: JUSH) announced today that it has entered into an agreement to acquire Nevada-based operator NuLeaf, Inc. The acquisition price is reported to be for a total consideration of US$62.5 million.

The acquisition includes two cannabis dispensaries in the state, a 27,000-square feet cultivation facility, and a 3,000-square feet processing facility. NuLeaf also owns a third dispensary in Las Vegas Boulevard expected to start operations in 2022.

According to the terms of the agreement, the acquisition price includes an upfront payment of US$52.5 million–comprised of US$15.75 million in cash, US$21.0 million in subordinate shares, and US$15.75 million unsecured promissory note. The additional US$10.0 million is contingent on the opening of the dispensary on Las Vegas Boulevard.

The total acquisition price, the company relayed, is approximately 4.5 times NuLeaf’s estimated full-year 2022 EBITDA.

With this announcement and the recent acquisition of another Las Vegas dispensary, The Apothecarium, the cannabis firm is slated to have four dispensaries in Nevada–bringing its retail footprint nationwide to 39 dispensaries.

The company recently announced its Q3 2021 financials, highlighting $54.0 million in revenue.

Jushi Holdings last traded at $5.84 on the CSE.


Information for this briefing was found via Sedar and the companies mentioned. 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.

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