BOCA RATON, Fla., June 24, 2022 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated multi-state cannabis operator, announced that it has amended and refiled its financial statements for the first quarter ended March 31, 2022 (collectively, the “Amended statements”) that were reviewed by his listener. The amended statements replace the unaudited first quarter 2022 financial statements previously filed on SEDAR on May 27, 2022.
In the amended statements, the Company revised the classification of interest payments on certain debt securities in the consolidated statement of cash flows for the three months ended March 31, 2022. The revision resulted in an increase in free cash flow from operating activities of $2.3 to $3.6 million, and a corresponding decrease in net cash provided by financing activities from $10.8 to $9.5 million. In addition, the Company restated its diluted earnings per share calculation to take into account the dilutive effect of its outstanding derivative warrants. Including the impact of outstanding derivative warrants, net loss per diluted share increased from $0.08 to $0.13. The restatement did not impact the Company’s balance sheet or cash flow statement for the first quarter ended March 31, 2022.
About Jushi Holdings Inc.
We are a vertically integrated cannabis company led by an industry-leading management team. In the United States, Jushi is focused on building a multi-state portfolio of branded cannabis assets through opportunistic acquisitions, distressed training and competitive applications. Jushi strives to maximize shareholder value while delivering high quality products at all levels of the cannabis ecosystem. For more information, visit jushico.com or our social media channels, instagram, Facebook, Twitterand LinkedIn.
Forward-looking information and statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act. . of 1995. Such forward-looking information and forward-looking statements are not indicative of historical facts or information or current conditions, but rather represent only the company’s beliefs regarding future events, plans or objectives, many of which, by their nature , involve estimates, projections, plans, objectives, forecasts and assumptions which may prove to be inaccurate. Accordingly, actual results could differ materially from those expressed by such forward-looking statements and such statements should not be relied upon. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans,” “expects” or “does not expect,” “is expected,” “budget,” “expected ,” “estimates,” “forecasts,” “intends,” “anticipates” or “does not anticipate,” or “believe,” or variations of these words and phrases or may contain statements that certain actions, events or results “may,” “could,” “would,” “could” or “will be taken,” “will continue,” “will occur” or “will be achieved”. Forward-looking information and forward-looking statements contained herein may include, but are not limited to, information regarding expectations regarding Jushi, or Jushi’s ability to successfully achieve business objectives, and expectations for other economic, business and/or competitive factors.
By identifying such information and statements in this manner, the Company cautions the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements of the Company. be materially different from those expressed or implied by such information and statements. Additionally, with respect to the forward-looking information and forward-looking statements contained in this press release, the Company has certain expectations and has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: Jushi’s ability to successfully and/or timely achieve business objectives, including with regulators, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in financial markets; changes in applicable laws; and compliance with extensive government regulations, as well as other risks and uncertainties which are described in more detail in the Company’s management, discussion and analysis for the three months ended March 31, 2022, and other documents filed with regulatory and securities authorities which are available at www.sedar.com. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying any forward-looking information or statements prove incorrect, actual results may differ materially from those described herein as anticipated, planned, anticipated, believed, estimated or expected.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurances or warranties can be assured that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements contained or referred to herein. , except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice.
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Executive Vice President of Investor Relations