Adding 27,000 sq ft of cultivation and 3 dispensaries

US (NV): "Continuing to scale our operations with $53.6 million acquisition completed"

Jushi Holdings has closed its previously announced agreement to acquire NuLeaf. together with its subsidiaries and affiliated companies for US$53.6 million. NuLeaf operates two high-performing adult use and medical retail dispensaries in Las Vegas, NV (the Clark Dispensary), and Lake Tahoe, NV (the Lake Tahoe Dispensary), in addition to a 27,000 sq. ft. cultivation facility in Sparks, NV, and a 13,000 sq. ft. processing facility in Reno, NV. NuLeaf also owns a third licensed retail dispensary located directly on Las Vegas Boulevard (the Las Vegas Strip Dispensary), expected to become operational in Q2 2022 subject to regulatory approval and other conditions.

The acquisition of NuLeaf, along with the recently closed Apothecarium Nevada acquisition, expands Jushi’s retail footprint to four dispensaries in the US$1.0 billion Nevada cannabis market, three of which are located in the bustling Las Vegas area. In addition, NuLeaf’s high-quality facilities strengthen the company’s cultivation and processing capabilities in the state, providing a strategic opportunity to expand Jushi’s ability to supply its best-in-class suite of branded products across its newly acquired Nevada stores and into the wholesale market.

“We are excited to announce the closing of our third acquisition in Nevada, a milestone accomplishment for our team,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi Holdings Inc. “The acquisition of NuLeaf sets the tone for our growth plans in the state as we continue to scale and strengthen our operations in this limited license market. With our newly established vertically integrated footprint in the state, we look to gain market share of our brands and further capitalize on the significant opportunity in this market, aided by NuLeaf’s premier retail, cultivation and manufacturing assets. We look forward to the immediate revenue and EBITDA contribution this acquisition will bring as we fully integrate NuLeaf into our business.”

NuLeaf’s cultivation and product manufacturing facilities
NuLeaf’s cultivation operations span 27,000 sq. ft. over two floors in a 15,000 sq. ft. building in Sparks, NV. The building is equipped with ten single-stacked flower rooms, with a flower canopy encompassing approximately 6,800 sq. ft., and a custom automation system for controlled temperature, humidity, lighting, and CO2 enrichment.

NuLeaf also operates a separate 13,000 sq. ft. processing facility in Reno, NV. The facility currently has hydrocarbon extraction capabilities and can hold an additional extraction unit within the existing space.

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