Jushi Celebrates Enactment of Virginia Adult-Use Cannabis Legislation

• Virginia enacted legislation establishing a regulated adult-use cannabis marketplace, effective July 1, 2027.
• Jushi is accelerating its Virginia cultivation expansion: Phase 1 adds 33% space in late 2026; Phase 2 doubles indoor flowering canopy in H2 2027, totaling >250% expansion.
• Company is evaluating acquisition of a secured agricultural greenhouse for future production.
• CEO Jim Cacioppo characterizes Virginia as the "single largest organic growth opportunity" in company history and a "game-changing moment."
• Regulatory framework aims to displace the illicit market through laboratory-tested, licensed retail channels.

• The Virginia adult-use legalization is a telegraphed regulatory milestone that validates management's multi-year preparation but carries no near-term financial impact (sales commence July 2027). The stock's flat performance (-1.4%) into the print confirms expectations were already priced in. The news is Routine - Positive. It does not alter near-term earnings trajectory, balance sheet stress, or cash burn. The primary market reaction will likely be muted until DEA registration is confirmed and Q2 2026 results demonstrate margin sustainability.

Jushi Holdings Inc. is a vertically integrated cannabis operator with 42 dispensaries across eight states, focusing on retail and wholesale distribution. The company recently completed a corporate redomiciliation from British Columbia to Nevada and is pursuing federal DEA registration following the rescheduling of medical marijuana to Schedule III. Management is aggressively expanding cultivation capacity to prepare for the Virginia adult-use market launch in July 2027.