Jushi Holdings Inc. Announces Management and Board Changes



Leonardo Garcia-Berg appointed Director of Operations

Erich Mauff steps down as co-chairman and member of the board of directors

BOCA RATON, Florida, June 30, 2021 (GLOBE NEWSWIRE) – Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated multi-state cannabis operator, announced the appointment of Leonardo “Leo” Garcia-Berg, a former global supply chain manager for Anheuser-Busch InBev (“AB InBev”) (Euronext: ABI) (NYSE: BUD) (MEXBOL: ANB) (JSE: ANH) as Chief Operations Officer of the Company.

In his new role, Mr. Garcia-Berg will be responsible for driving growth and efficiency strategies, as well as mentoring and developing team members in the production and processing facilities of the company currently located in Pennsylvania, Virginia, Nevada and Ohio. Reporting directly to Jushi CEO, President and Founder Jim Cacioppo, Mr. Garcia-Berg will also manage the directors of operations, environmental health and safety, safety, quality control and purchasing of the company. . Jushi will seek regulatory approval, if necessary, to exercise the role and responsibilities of Mr. Garcia-Berg in the various jurisdictions where Jushi is, or will become, licensed as a cannabis operator.

Prior to joining Jushi, Mr. Garcia-Berg held numerous positions at AB InBev, the world’s largest multinational brewing company. In his role as Global Director of Value Creation Programs, Leo has led strategies focused on improving manufacturing, logistics, sourcing and operations at the company’s third-party vendors, including ABI’s vertical operations around the world. In addition, he introduced Industrial Internet of Things (IIOT) technologies such as interconnected sensors, instruments and analytics to improve operations, power consumption and efficiency of AB InBev in sites. production of the company globally. Leo was also Director of Brewery Operations for AB InBev in Mexico, overseeing AB InBev’s integration of its Modelo facilities and leading the implementation of ABI’s operational excellence program. Prior to joining AB InBev, Mr. Garcia-Berg was a consultant for McKinsey & Company, focusing on operational strategies, purchasing, organizational transformations, as well as supply chain and process optimization solutions. end to end.

“Leo’s experience in complex international organizations and his success across the value chain is a testament to the great diversity of talented leaders we have attracted here at Jushi,” said Jim Cacioppo, CEO, President and Founder of Jushi. “As we continue to bring more high-quality products to consumers and patients at affordable prices, Leo’s experience in operational efficiency and transforming global supply chains of highly regulated CPG products will help us. through our next phase of growth. I am delighted to welcome him to his new leadership role, and I have no doubts that Leo’s proven track record and alignment with Jushi’s values ​​will be instrumental in accelerating the growth of our company and our shareholders.

Mr. Garcia-Berg added, “Cannabis is a unique generational opportunity, and I am excited about the opportunity to help drive Jushi’s growth and operational efficiency as the company continues to expand. its presence in the US and EU, I look forward to working closely with my new colleagues as we continue to define and reshape the industry.

Originally from Buenos Aires, Mr. Garcia-Berg received his Master of Science in Electrical Engineering from the Instituto Tecnológico de Buenos Aires in Argentina and his MBA from the Wharton School of the University of Pennsylvania.

The company also announced today that Erich Mauff will step down as co-chairman and director of the company’s board, effective July 1, 2021. Jushi does not intend to fill the position. immediate co-chair position and will seek to fill the vacant Board seat at the appropriate time. Mr. Mauff’s transition of responsibilities as Co-Chair has been underway for months. Business Development, led by Olivier Blechner, Executive Vice President of Business Development, and Investor Relations, led by Michael Perlman, Executive Vice President of Investor Relations and Treasury, will now report directly to Jim Cacioppo. In addition, Mr. Mauff will remain as a consultant with the Company for the next 24 months to ensure a continuous and smooth transition. Jon Barack will retain his current role as President and will continue to oversee corporate FP&A, real estate, risk management and IT.

Mr. Cacioppo commented: “As Co-Chairman, Board Member and Co-Founder, Erich has helped make Jushi what it is today and has helped position the company for exponential growth over the years. to come up. Erich recently led the company through several stages, including completing a series of private equity and debt financings and helping the company expand its presence in Pennsylvania, Virginia and Illinois. I would like to sincerely thank Erich for all of his contributions during his tenure at Jushi and wish him the best of luck in his future endeavors.

“It has been a great privilege to serve as co-chair and board member of Jushi,” said Mauff. Since the founding of the company in 2018, I have been proud of all that we have accomplished and feel very fortunate to have worked alongside Jim and Jon as we have built an incredible team of talented and dedicated people. I have no doubts that I am leaving the company in excellent hands and well positioned for continued success.

About Jushi Holdings Inc.

We are a vertically integrated cannabis company led by a leading management team. In the United States, Jushi is focused on building a multi-state portfolio of branded cannabis assets through opportunistic acquisitions, struggling practices and competitive applications. Jushi strives to maximize shareholder value while delivering high quality products at all levels of the cannabis ecosystem. For more information, please visit jushico.com or our social media channels, Instagram, Facebook, Twitter and 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 which may constitute “forward-looking statements” within the meaning of the safe harbor provisions of US Private Securities Litigation. Reform Act. of 1995. These forward-looking information and forward-looking statements are not representative of historical facts or information or current conditions, but only represent the Company’s beliefs regarding future events, plans or objectives, many of which, by virtue of 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 these 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 terms such as “plans”, “expects” or “does not expect”, “is expected”, “budget” , “Foreseen”, “considers”, “foresees”, “intends”, “anticipates” or “not foresee”, or “believes”, or variations of these words and expressions 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 in this document may include, without limitation, information regarding expectations regarding Jushi, or Jushi’s ability to successfully achieve business objectives, and expectations for other aspects. economic, commercial and / or competitive. factors.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors which 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. In addition, within the framework of the forward-looking information and statements contained in this press release, the Company has certain expectations and has made certain assumptions. Key factors that could cause actual results to differ materially from those projected in forward-looking information and statements include: Jushi’s ability to successfully and / or on time achieve its business objectives, including regulators, employees, suppliers, customers and competitors; changes in economic, trade and general political conditions, including changes in financial markets; changes in applicable laws; and compliance with extended government regulations, as well as other risks and uncertainties which are further described in the Company’s MD&A for the quarter ended March 31, 2021, and other documents filed with regulatory authorities. Securities and Regulatory which are available at www. .sedar.com. If one or more of these risks, uncertainties or other factors materialize, or if the assumptions underlying the forward-looking information or statements prove to be incorrect, actual results may differ materially from those described in this document as intended, planned. , anticipated, raw, estimated or expected.

Although the Company believes that the assumptions and factors used in the preparation, and the expectations contained in, the forward-looking information and statements are reasonable, you should not place undue reliance on such information and statements, and no assurance or warranty can be taken. be given that this forward-looking information and statements will prove to be correct, 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 that are 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 to persons acting on its behalf are expressly qualified in their entirety by this notice.

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For more information, please contact:

Investor Relations Contact:
Michael perlman
Executive Vice President of Investor Relations and Treasury
[email protected]

Media contact:
Ellen melody
[email protected]


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