Jushi Announces Support of Adult-Use Cannabis in Pennsylvania Governor’s Annual Budget Proposal and Address
Jushi Holdings has expressed support for Pennsylvania Governor Josh Shapiro's inclusion of adult-use cannabis in his annual budget proposal.
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Rhea-AI Summary
Jushi Holdings has expressed support for Pennsylvania Governor Josh Shapiro's inclusion of adult-use cannabis in his annual budget proposal. The company, a multi-state cannabis operator, emphasizes the importance of extending public protections from the regulated medical market to the adult-use marketplace.
CEO Jim Cacioppo highlights that while cannabis markets exist in every American town, the key question is whether they are regulated. He advocates for a regulated market that would implement age restrictions, clear packaging requirements, and rigorous oversight while ensuring product safety through testing. Additionally, this approach would redirect funds from criminal enterprises to state coffers.
The company notes that adult-use cannabis legalization has over 60% public support, with even opponents preferring a regulated market over the current situation.
Positive
- Potential expansion into Pennsylvania's adult-use cannabis market
- Strong public support (60%+) for legalization indicates favorable market conditions
- Company already has established presence in Pennsylvania's medical market
Negative
- Regulatory approval still pending and uncertain
- Timeline for potential market expansion not defined
Details
News Market Reaction – JUSHF
The recorded move for JUSHF in the trading session of this news was +6.36%.
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BOCA RATON, Fla., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, made the following statement regarding the inclusion of adult use cannabis in Pennsylvania Governor Josh Shapiro’s annual budget proposal and address.
“Jushi and its subsidiaries’ hundreds of employees here in the Commonwealth of Pennsylvania are pleased that the legalization of cannabis is once again a priority for the legislative session. And while we agree that there are important budget implications to this policy, it is also critically important to extend public protections of the regulated medical market we’ve created to the adult use marketplace.
“It is undeniable that there is a cannabis marketplace in every town in America, with the only question being whether or not that market is regulated. A regulated cannabis market limits sales by age, clearly marks packaging, is subject to rigorous oversight and provides the public with a safe and thoroughly tested product. And yes, it also takes funding from criminal enterprises and puts it into state coffers. The status quo in our Commonwealth fails to do all those things.
“Legalizing cannabis for adult use is a common-sense policy supported by over
For further information, please contact:
Investor Relations
561-617-9100
investors@jushico.com
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