Jushi's Beyond Hello Dispensaries To Remain Open During Pandemic

Multi-state operator Jushi Holdings Inc.  (CSE: JUSH) (OTCQX: JUSHF) said that its dispensaries received the “life-sustaining” business designation in Pennsylvania and the “essential services” designation in Illinois. As a result, the company’s six dispensaries in Pennsylvania, operating under the brand “BEYOND/HELLO,” and its two dispensaries in Illinois, operating under the brand “The Green Solution” (transitioning to BEYOND/HELLO branding later this year), will remain open.

The Company is announcing several initiatives prioritizing its medical patients and customers most susceptible to COVID-19 during the pendency of the COVID-19 outbreak:

  • Pennsylvania – Effective immediately, BEYOND/HELLO dispensaries will only serve patients 50 years or older in the first hour of operations. Curbside pick-up will begin to be offered at three PA dispensaries starting March 30th. Curbside pick-up available at Bristol, West Chester and Scranton PA locations.
  • Sauget, Illinois – Beginning March 30th, The Green Solution dispensary will only serve medical patients on Mondays. In addition, starting on March 31st, The Green Solution dispensary will serve only medical patients and customers 50 years or older during the first hour of operations. Curbside pick-up will also be offered to medical patients beginning March 26th.
  • Normal, Illinois – Beginning March 31st, The Green Solution dispensary will only serve patients 50 years or older in the first hour of operations. Curbside pick-up will also be offered to medical patients beginning March 26th.

As of March 25th, Jushi acquired the two Illinois dispensaries on January 30th and has subsequently begun serving adult-use customers at its Sauget location as of March 2nd. Through the first three weeks of March, company-wide retail revenues were approximately $3 million, an increase of approximately 70% as compared to February 2020.

“I am proud of all of our team members for responding quickly and appropriately during this rapidly evolving and uncertain time globally. Thus far in March, we have seen a significant increase in traffic and demand, which is a reflection of the loyalty of our customer base. Going forward, we will continue to closely monitor the status of our operations and make adjustments as needed to ensure the health and safety of our patients, customers, and employees,” said Jim Cacioppo, Chairman and Chief Executive Officer of Jushi.

Insider Buying

In a separate announcement, Jushi said that insider Denis Arsenault acquired shares and sold notes and warrants. “Following the completion of the acquisitions and dispositions of the Specified Securities as outlined above, the Acquiror holds $7,500,000 of the Notes, 4,000,000 multiple voting shares of the Issuer, 2,329,162 Subordinate Voting Shares and 11,174,206 Warrants, which represent in the aggregate, on an as-converted basis, 17.01% of the Subordinate Voting Shares issued and outstanding.

Debra Borchardt

Debra Borchardt is the CEO, Co-Founder, and Editor-In-Chief of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Masters degree in Business Journalism from New York University.

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