Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced that Campbell Hill Ventures, LLC (“Campbell Hill Ventures”), the Company’s 100% owned subsidiary, has been awarded a provisional medical marijuana dispensary license (the “License”) by the Ohio Medical Marijuana Control Program. The License is designated for 693 Old State Route 74 in Clermont County, Ohio, located just 17.5 miles east of Cincinnati2. The new store will operate under Jushi’s retail brand, BEYOND / HELLO™, and marks the Company’s first retail location in the Buckeye State. This will be the Company’s fifth vertically integrated state, accompanying Pennsylvania (by way of its affiliated subsidiaries), Virginia, Massachusetts, and Nevada. This summer, the Company plans to begin construction on the BEYOND / HELLO™ Cincinnati store and expects the store to be open by Q1 2023.
“We are very pleased with the outcome of the lottery selection, which allows Jushi to open its first licensed medical dispensary in Ohio and establish our fifth vertically integrated market. Along with this win, we intend to pursue additional retail dispensary licenses through opportunistic acquisitions to expand our Ohio retail store base,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi. “We look forward to bringing the full Jushi retail experience to Ohio, including our new retail design system, which will provide patients with an efficient, accessible, and safe experience that goes beyond the traditional cannabis retail environment. With this newly awarded retail license, along with our existing state-of-the-art cultivation and processing assets, Jushi is well-positioned to support the rapidly evolving Ohio medical market.”
Home to over 200,000 residents3, Clermont County is located east of Cincinnati on the Ohio River, known for its rich historical roots and local cultural attractions. The new dispensary location is a five-minute drive from the Cincinnati Nature Center, which brings in over 200,000 visitors annually4. Additionally, the new location is a five-minute drive from EastGate Mall and situated close to two major routes, Route 275 and Route 32 as well as several big-box stores along Route 74. Surrounded by local museums, historic sites, parks, breweries, wineries, and golf courses, the new store is also approximately 20 miles east of major tourist sites such as Paul Brown Stadium, Newport Aquarium and Cincinnati Zoo & Botanical Gardens.
Currently, three of Jushi’s in-house brands are available in the Ohio medical cannabis market, including Sèchè, a flower line, Tasteology, a brand of premium, real fruit, cannabis-infused gummies, and The Lab, a high-quality vaporization line. In Q2 2022, Jushi expects to launch additional Sèchè flower product lines, along with its award-winning flower brand, The Bank, in Ohio.
The Ohio medical cannabis program is a limited license market with distinct licenses for cultivation, processing, and retail. The Ohio Medical Marijuana Control Program reported 261,453 registered medical patients as of March 31, 2022, and over $799 million in total medical cannabis product sales as of April 18, 2022.
1 Includes an awarded conditional dispensary where Jushi owns a 49% equity interest
2 Jushi is required to apply for a Certificate of Operation from the State of Ohio Board of Pharmacy’s Medical Marijuana Control Program before commencing operations at the listed medical marijuana dispensary locations
3 United States Census Bureau, as of July 1, 2021
4 Cincinnati Nature Center Website
