Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated, multi-state cannabis operator, is providing this bi-weekly update on the status of the management cease trade order granted on May 3, 2021 (the “MCTO”) under National Policy 12-203 –Management Cease Trade Orders(“NP 12-203“). The MCTO was applied for and granted following the Company’s announcement on April 21, 2021 (the “Default Announcement”) that it was unable to file it audited annual financial statements for the year ended December 31, 2020, the related management’s discussion and analysis, related CEO and CFO certificates and annual information form for the year ended December 31, 2020 (collectively, the “Documents”) on or before April 30, 2021, as required under applicable securities laws. The MCTO does not affect the ability of investors who are not insiders to trade in the securities of the Company.
The Company confirms that the annual audit is ongoing, and the Company continues to expect to file the Documents on or before May 24, 2021. The Company continues to work closely with its auditor to remedy the default status and file the Documents as soon as possible.
The Company confirms that since the date of the Default Announcement: (i) except as set out above with respect to the anticipated fling date of the Documents, there has been no material change to the information set out in the Default Announcement that has not been generally disclosed; (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Documents is continuing, each of which will be issued in the form of a press release; (iii) there has not been any other specified default by the Company under NP 12-203; (iv) the Company is not subject to any insolvency proceedings; and (v) there is no material information concerning the affairs of the Company that has not been generally disclosed.