Jushi Holdings Inc. Receives Requisite Holder Approval to Amend 12% Second Lien Notes and Warrants Issued in Connection with Previously Announced Debt Financing

Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced today that the requisite holders have consented to certain amendments (the “Amendments”) to the Company’s 12% Second Lien Notes (the “Notes”) and detached warrants expiring December 6, 2026 (the “Warrants”). The Notes and Warrants were originally issued in connection with the Company’s previously announced debt financing of approximately US$73.5 million aggregate principal amount of Notes which initially closed December 2022 (see the press release of the Company dated December 8, 2022 for additional details).

The Amendments include the removal of the covenant, upon a change of control, giving the right to holders of Notes to require the Company to repurchase the Notes for 105% of outstanding principal and accrued and unpaid interest, and a reduction of the exercise price of the Warrants for each subordinate voting share from US$2.086 to US$1.00.

The Company intends to enter into definitive documentation evidencing the Amendments with the trustee to amend the trust indenture (with respect to the Notes) and with the collateral agent to amend the warrants (with respect to the Warrants). The implementation of the Amendments is subject to the completion of such definitive documentation and the Company entering into such agreements, which the Company expects will occur in the near term.

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