Jushi Holdings signed a definitive agreement to purchase the 93,000 sq. ft. facility, operated by its wholly-owned subsidiary and Virginia-based pharmaceutical processor, Dalitso, together with approximately nine acres of surrounding land in Prince William County, Virginia, for approximately $22 million. "The acquisition, together with Dalitso’s planned buildout of the Facility, will enable Dalitso to efficiently produce a consistent supply of medical cannabis products as patient access improves and as the medical cannabis program matures and expands," Jushi team explains.
“The Virginia cannabis market is an area of strategic focus for Jushi given Dalitso’s strong position in the most densely populated region in the Commonwealth,” said Jim Cacioppo, Chief Executive Officer, Chairman, and Founder of Jushi. “Through the completion of this acquisition, Dalitso will have the expansion capacity required to scale cultivation and processing to meet the anticipated patient demand of a growing program. Jushi is dedicated to providing patients with best-in-class products and dispensing experiences that go beyond expectations. To that end, we look forward to the continued build-out of our Facility so we can best serve registered patients. Separately, we were pleased to see Governor Northam and the General Assembly respond to their constituents by moving the effective date of legal possession date for small amounts of cannabis forward to July 1, 2021. We hope the Governor and General Assembly will act expeditiously and with similar decisiveness to authorize legal procurement so Virginians without a medical certification have access to safe and controlled cannabis products in a regulated market without material delay.”
For more information:
Jushi
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jushico.com