Jushi Holdings Inc.
BOCA RATON, Fla., Sept. 9, 2022 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: YOU) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, today filed with the Securities and Exchange Commission of Canada restated unaudited condensed consolidated interim financial statements for the three months ended March 31, 2022 (the “Q1 2022 Interim Financial Statements”). The adjusted interim financial statements for the first quarter of 2022 are available through the Company’s public filings on the System for Electronic Document Analysis and Retrieval (“SEDAR”).
The interim financial statements for the first quarter of 2022, prepared in accordance with generally accepted accounting principles in the United States, have been filed on SEDAR to replace the previously filed financial statements prepared by the Company on June 24, 2022 in accordance with IFRS. The Company recognized the (i) right-of-use assets – finance leases and prepaid expenses and other current liabilities in the unaudited condensed consolidated interim balance sheet and (ii) cash flows from operating, investing and financing activities in the unaudited condensed consolidated statement of cash flows. These errors had no impact on the cash balance as of March 31, 2022 and there was no net change in cash flows for the three months then ended.
About Jushi Holdings Inc.
We are a vertically integrated cannabis company led by an industry-leading management team. In the United States, Jushi is focused on building a multi-state portfolio of branded cannabis assets through opportunistic acquisitions, distressed workouts and competitive bidding. Jushi strives to maximize shareholder value while providing high quality products at all levels of the cannabis ecosystem. For more information, visit jushico.com or our social media channels Instagram, Facebook, Twitter and LinkedIn.
Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws and statements that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, contained in this press release, including statements about our strategy, future operations, intended expansion of our retail operations and manufacturing capacity, intended expansion of our cultivation facilities, future financial condition, anticipated costs, prospects, plans and goals of management, including but not limited to the materiality or significance and impact of errors on current or prior financial statements and any related future decisions made by the Company, the Company’s Audit Committee or the Company’s management are forward-looking statements. These forward-looking statements are based on Jushi’s current expectations and beliefs regarding future developments and their potential impact. As a result, actual results could differ materially from those projected in such forward-looking statements, and such statements should not be relied upon. Generally, such forward-looking information or forward-looking statements are identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “planned”, “estimates”, “forecasts” , “intends,” “anticipates,” or “does not anticipate,” or “believes,” or variations of such words and phrases, or may include statements that certain actions, events, or results “may,” “could,” “would,” “might.” ‘ or ‘will be taken’, ‘will continue’, ‘will occur’ or ‘will be achieved’. The forward-looking information and forward-looking statements contained herein may include, among other things, information regarding expectations regarding Jushi or Jushi’s ability to successfully achieve business objectives and expectations regarding other economic, business and/or competitive factors. Many factors could cause actual future events to differ materially from the forward-looking statements contained in this press release, including risks related to Jushi’s ability to successfully and/or timely achieve business objectives, including to regulators, employees, suppliers, customers and competitors ; changes in general economic, business and political conditions, including changes in financial markets; changes in applicable laws; compliance with extensive government regulations, the risk that additional information or other subsequent events occur that would require additional adjustments, and other risks, uncertainties and other cautionary statements in the Company’s public filings with applicable securities regulators via the SEC’s website at www.sec. gov and on SEDAR at www.sedar.com. Should one or more of these risks, uncertainties or other factors materialize, or should any assumptions underlying the forward-looking information or statements prove incorrect, actual results could differ materially from those intended, planned, expected, believed, estimated or expected described herein results differ.
The story goes on
Although the Company believes that the assumptions and factors used in the preparation of the forward-looking information and statements, and the expectations contained therein, are reasonable, undue reliance should not be placed on such information and statements and no representations or Such forward-looking information and statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update the forward-looking information and/or forward-looking statements contained herein or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this release.
For more information please contact:
Investor Relations contact:
Michael Perlman
Executive Vice President of Investor Relations
561-281-0247
[email protected]
Media contact:
Ellen Melody
570-209-2947
[email protected]
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