Jushi Holdings Inc.

04:00 PM EST - Jushi Holdings Inc. : Announced the closing of the sale of its 16.5% ownership interest in Gloucester Street Capital, the parent company of Valley Agriceuticals and owner of one of ten New York licensed medical cannabis operators. Jushi previously purchased its 16.5% interest in Gloucester in February 2018 for US$5 million in cash. The sale is part of the Cresco Labs Inc.'s (CSE: CL) (OTCQX: CRLBF) acquisition of Gloucester. Jushi received the following consideration for the sale of its 16.5% interest: US$5.3 million in cash and equivalents plus a further up to US$1.6 million cash under an earn-out, approximately 1.44 million shares of Cresco Labs, 331,000 Cresco warrants with an exercise price of US$4.24, plus additional contingent consideration. Jushi Holdings Inc. shares JUSH.B:AQN are trading unchanged at $1.75.