Jushi Holdings Completes Redomicile From British Columbia to Nevada
- Jushi Holdings Inc. has completed its redomicile from British Columbia, Canada, to Nevada, effective July 30, following required filings and court approval.
- Shareholders approved the move during the June 24 annual and special meeting, while the company's common shares will continue trading on the Canadian Securities Exchange and OTCQX under the ticker JUSH.
- The redomicile is intended to provide corporate and administrative benefits as Jushi operates primarily within the United States, despite no changes to its business operations or ownership structure.
- Jushi, headquartered in Boca Raton, Florida, is a vertically integrated marijuana company with cultivation, processing, and retail operations in multiple state-legal markets, but it faces risks including debt, regulatory uncertainty, and federal marijuana prohibition.
Jushi Holdings Inc. has completed its previously announced redomicile from British Columbia, Canada, to Nevada, the multistate marijuana operator announced Friday.
The move became effective July 30 after the company filed the required documents with the Nevada Secretary of State and received the necessary court approval.
Jushi shareholders approved the redomicile during the company’s annual and special meeting on June 24.
Despite moving its legal jurisdiction to the United States, Jushi’s common shares will continue trading on the Canadian Securities Exchange under the ticker symbol JUSH. The stock will also remain quoted on the OTCQX under the same ticker.
A redomicile changes the jurisdiction in which a company is legally incorporated without necessarily altering its underlying business operations, ownership structure or publicly traded shares.
Jushi is a vertically integrated marijuana company operating across multiple states. The company has developed its portfolio through acquisitions, competitive licensing processes and investments in distressed cannabis assets.
The company has previously said the Nevada continuance was expected to provide potential corporate and administrative benefits as it continues operating primarily within the United States.
Jushi cautioned investors that the anticipated benefits of the move are subject to a range of risks, including its debt obligations, historical operating losses, regulatory uncertainty, competition and the continued federal prohibition of marijuana.
The company is headquartered in Boca Raton, Florida, and operates cultivation, processing and retail marijuana assets in several state-legal markets.