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Jushi Holdings Inc. Announces Update on Expansion Project at Pennsylvania Grower-Processor Facility

), a vertically integrated, multi-state cannabis operator, announced the first phase of its previously announced expansion project (the “Expansion Project”) at its Pennsylvania cultivation facility (the “Facility”) located in Scranton, PA. The Company’s wholly-owned subsidiary, Pennsylvania Medical Solutions, LLC (“PAMS”), has entered into an amendment of its existing lease with Innovative Industrial Properties, Inc. (“IIP”) (NYSE: IIPR), making available an additional $30 million in funding for the first phase of property development of the Facility. The funding will be used to complete the buildout of the existing 89,000 sq. ft. building and an approximately 40,000 sq. ft. expansion of the Facility for a total of 130,000 sq. ft. The first phase of the expansion, with an estimated budget of approximately $40 million, is expected to add approximately 26,000 sq. ft. of canopy for a total of 45,000 sq. ft. and is expected to be completed by the fourth quarter of 20 ....

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Jushi Holdings Commences $40 Million Pennsylvania Facility Expansion

April 1, 2021 at 2:34 pm
Published by NCV Newswire
Jushi Holdings Inc. Announces Update on Expansion Project at Pennsylvania Grower-Processor Facility
The Company Commences First Phase of Expansion, Adding at Completion 40,000 sq. ft. to the Existing 89,000 sq. ft. Facility
Strengthens Partnership with Innovative Industrial Properties, Inc. Making Available an Additional $30.0 Million in Real Estate Funding
BOCA RATON, Fla., April 01, 2021 (GLOBE NEWSWIRE) Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated, multi-state cannabis operator, announced the first phase of its previously announced expansion project (the “Expansion Project”) at its Pennsylvania cultivation facility (the “Facility”) located in Scranton, PA. The Company’s wholly-owned subsidiary, Pennsylvania Medical Solutions, LLC (“PAMS”), has entered into an amendment of its existing lease with Innovative Industrial Pr ....

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