Jushi Holdings Inc. (“Jushi” ), a vertically integrated, multi-state cannabis operator, announced the first phase of its previously announced expansion project (the “Expansion Project”) at its Pennsylvania cultivation facility (the “Facility”) located in Scranton, PA. The Company’s wholly-owned subsidiary, Pennsylvania Medical Solutions, LLC (“PAMS”), has entered into an amendment of its existing lease with Innovative Industrial Properties, Inc. (“IIP”) (NYSE: IIPR), making available an additional $30 million in funding for the first phase of property development of the Facility. The funding will be used to complete the buildout of the existing 89,000 sq. ft. building and an approximately 40,000 sq. ft. expansion of the Facility for a total of 130,000 sq. ft.

Published Ncv Newswire, New Cannabis Ventures, 04/01/2021 14:35:00

Open article: https://www.newcannabisventures.com/jushi-holdings-commences-40-million-pennsylvania-facility-expansion/