Company: JUSHF
Filing Date: 2025-02-18
Form Type: 8-K
Source: 0001171843-25-000886
Chunk: 4

Company: Jushi Holdings Inc.
Filing Date: 2025-02-18
Form: 8-K
Item: Item 8.01
Chunk 4
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 Canadian dollar denominated Notes, for a purchase price of C$1.8 million
and will receive up to approximately 2.4 million Warrants1.

The Notes and Warrants have not been registered under the United States Securities Act of 1933, as amended
(the “ Securities Act”) or the securities laws of any state, and were offered and sold only to accredited investors in a private
placement transaction in reliance upon the exemption from registration afforded by Section 4(a)(2) under the Securities Act and Regulation
D promulgated thereunder and/or Regulation S, as applicable, and pursuant to exemption from the provisions of any applicable state securities
laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall such securities be offered
or sold in the United States absent registration or an applicable exemption from the registration requirements and the Notes and Warrants
contain a legend stating the same.

The closing of the Offering will occur at least five (5) days following the announcement of the Offering.
The Company intends to use the net proceeds from the Offering for general corporate purposes, including but not limited to working capital,
capital expenditures and potential acquisitions.

A special committee of the Company’s board of directors, consisting of all independent directors,
reviewed and approved the transactions described above.

The above description of the Warrants is a summary and is not complete. A copy of the form of Warrant
is filed as exhibit 10.1 to this Current Report on Form 8-K, and the above summary is qualified by reference to the terms of the Warrants
set forth in such exhibit.

Factoring of ERC Credit

On February 18, 2025, the Company announced that certain affiliates of the Company sold approximately
US$6.0 million of United States employee retention credit (“ ERC”) tax refund claims to a third party for approximately US$5.1
million of net cash proceeds. Each affiliate of the Company is also entitled to receive a portion of any interest paid on their respective
ERC tax refund claims through the transaction date. Certain affiliates of the Company have approximately US$3.0 million of additional
United States ERC tax refund claims remaining with the United States Internal Revenue Service which were not sold as part of this transaction.

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1The number of Warrants to be received by Mr. Arsenault will be calculated by first converting the principal amount of his C$2.0 million Second Lien Notes to United States dollars at the exchange