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Hemp-Focused Jushi Holdings Is Acquiring Dalitso Assets

July 11, 2019 10:51 am
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Hemp-Focused Jushi Holdings Is Acquiring Dalitso Assets

Earlier this week, cannabis and hemp-focused company Jushi Holdings announced it has entered into an agreement to acquire Dalitso LLC, one of the five conditionally licensed cannabis business in the state of Virginia.

“As we expand our geographic footprint, we are committed to making the highest quality investments and entering into the highest quality partnerships in the most ideal locations,” said Jushi CEO and Chairman Jim Cacioppo. “We look forward to working closely with the Dalitso team to develop high quality medical cannabis products for the patients of Northern Virginia.”

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The acquisition price is set to $7.8 million in cash plus $8.2 million in stock and convertible promissory notes for the approximately 62% of the membership interests in Dalitso.

Dalitso is one of only five companies that have gained vertically integrated license to cultivate and process medical cannabis and to produce and sell CBD oil and THC-A oil extracts in Virginia.

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