This Cannabis Giant Plans Nevada Registration, Here’s What Shareholders And Investors Need To Know

Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF) announced on Monday that it intends to move its “legal home,” its headquarters on paper, from British Columbia, Canada, to Nevada in the US.

The move, known as redomiciling, allows the company to align its corporate registration with its U.S.-focused operations without altering its day-to-day business.

What Does It Mean For Shareholders

Under the deal, each existing share will convert one-for-one into shares of the Nevada-based entity, with options and warrants carrying over on the same terms.

The deal requires 66 2/3% of the votes cast at the company’s annual general and special meeting of the shareholders and court approval to become effective.

The company’s board of directors has an option to abandon the plan if conditions change. The company said it will continue trading under the same symbol if the deal completes.

The move could potentially improve access to U.S. investors and capital ahead of future regulatory changes in U.S. cannabis and on the heels of the Trump administration’s move to reclassify state-licensed medical marijuana from Schedule I to Schedule III under the Controlled Substances Act.

Jim Cacioppo, the company’s CEO, chairman, and founder, said in a press release that relisting in Nevada reflects Jushi’s evolution as a U.S.-focused operator.

“As a U.S.-focused operator, this move better aligns our corporate structure with our operations and long-term strategy,” Cacioppo explained. “We expect the transition to streamline our organization and position Jushi to operate more efficiently while continuing to focus on disciplined growth, profitability, and delivering value to our shareholders.”

Jushi is a vertically integrated, multi-state cannabis company. It operates a vast footprint across the U.S., including retail, cultivation, and processing.

Analyst Outlook And Background

Zuanic & Associates, led by senior analyst Pablo Zuanic, rated Jushi Holdings as “Overweight,” without providing a specific price target, while reflecting a positive outlook on the company.

As of April 28, the company’s shares traded 5.05% lower at $0.5317 per share, with a market capitalization of $106.2 million, according to Yahoo Finance.

In his April 6 analyst note, Zuanic reminded that Jushi has generated $257.5 million in CY24 and $262.9 million in CY25, while projecting sales to grow to $276 million in CY2, $365 million in CY27, and $449.7 million in CY28.

Simultaneously, EBITDA has increased from $46.2 million in CY24 to $50.3 million in CY25, Zuanic noted, adding estimates of $58.2 million for CY26, $86.5 million for CY27, and $106.8 million for CY28.

The cannabis analyst anticipates net debt will drop from $200.4 million in CY26 to $180 million in CY28, while free cash flow is expected to turn positive, improving from $20.7 million in CY26 to $15.7 million in CY28. 

In the meantime, Jushi completed a non-dilutive $160 million refinancing in March, strengthening its balance sheet and adding liquidity.