Jushi to acquire Nevada’s NuLeaf for up to $62.5 million

#Jushi Holdings announced a deal to acquire #NuLeaf, a vertically integrated cannabis company in #Nevada. The acquisition is worth up to $62.5 #million and is expected to close in the first half of #2022. The price #tag features a $52.5 million upfront payment that includes: $15.75 million in #cash, an unsecured promissory note for the same amount and $21 million in Jushi subordinate #voting #shares. Another $10 million – “in an identical percentage combination” of cash, a promissory note and shares – will be issued “upon the occurrence or non-occurrence” of an upcoming NuLeaf dispensary on the Las Vegas strip receiving regulatory approvals to open for business.

Aside from the pending Las #Vegas strip location, NuLeaf’s Nevada assets include: An operational retail location in #LasVegas that currently serves an average of 1,000 customers per day, a retail location in #Lake #Tahoe described as “the only licensed recreational retail #dispensary in the area,” #cultivation facility in #Sparks and a processing facility in #Reno. The NuLeaf acquisition comes on the heels of Jushi’s deal to buy Las Vegas retailer The Apothecarium as well as its acquisition of #Nevada #cannabis #cultivator, processor and distributor Franklin Bioscience #NV.

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William Bradley

William Bradley

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