Jushi Holdings' Partner Awarded Cannabis Dispensary License in Illinois, Plans To Open BEYOND/HELLO Store In Peoria

Vertically integrated cannabis company Jushi Holdings Inc. JUSH JUSHF reported Monday that its partner Northern Cardinal Ventures, LLC was awarded a conditional retail dispensary license in Illinois via the state’s lottery process.

The Boca Raton-based company, which is an operational and 49% equity partner in Northern Cardinal, said that the new store would operate under its retail brand,  BEYOND/HELLO,

upon receiving all regulatory approvals.

The new dispensary would be the company’s fifth BEYOND / HELLO retail location in Illinois.

The location of the dispensary is designated for the Peoria Bureau of Labor Statistics region in the urban heart of Illinois, the company disclosed.

“We are excited to team up with Northern Cardinal to bring our consumer-focused retail brand, BEYOND / HELLO, to more customers in Illinois,” said Jim Cacioppo, the company’s CEO, chairman and founder. “As our existing retail stores continue to experience strong performance in the Prairie State, the addition of our Peoria location will allow us to remain focused on growing and enhancing our business in the right markets with high-growth potential such as Illinois.”

In the meantime, Jushi recently announced the launch of a series of its branded cannabis products in Virginia, on the heels of closing a $5 million purchase of OhiGrow, LLC - a licensed Ohio grower as well as Ohio Green Grow LLC.

Price Action

Jushi’s shares traded 1.17% lower at $4.66 per share at the time of writing Monday morning.

Photo: Courtesy of Add Weed on Unsplash