BOCA RATON,
Fla., June 29, 2022 (GLOBE NEWSWIRE) --PRESS RELEASE-- JushiHoldings Inc.
(CSE: JUSH) (OTCQX:
JUSHF),
a vertically integrated, multi-state cannabis operator, debuted its first line
of concentrates made using hydrocarbon extraction by its brand The Lab™, famous for delivering high-quality, precision
vape products and concentrates. The Lab™ Live Resin is the second of several
single-source concentrate product lines to be launched by Jushi. Last month, the company launched its first line of solventless live rosin extracts.
Initially, Jushi
will exclusively carry The Lab™ Live Resin 500mg full-spectrum 0.5 gram 510
cartridges at Beyond Hello™ retail locations in Pennsylvania. The company plans
to roll out its hydrocarbon-extracted line at partner dispensaries across the commonwealth in the coming months, as well as in additional states such as
Massachusetts, Virginia and Nevada. The company also plans to launch a 300mg
rechargeable, all-in-one 0.3g vape and a variety of 1 gram jarred cured
concentrates in the coming months, pending regulatory approval.
The new
hydrocarbon extract products are rich in THC, cannabinoids, terpenes and
flavonoids, and include roughly 90% of the plant’s original cannabinoids. The
Lab™ Live Resin is produced using Jushi’s next-generation hydrocarbon
extraction process utilizing high quality fresh frozen cannabis flower. This
extraction process allows for the delicate make-up of the cannabis plant to be
maintained so that the strain specific cannabinoids and terpene properties
remain fully intact.
“We are
thrilled to bring patients some of the purest, high-quality hydrocarbon
extracts available in Pennsylvania,” said Jushi Chief Executive Officer,
Chairman, and Founder Jim Cacioppo. “As we continue to innovate and roll out some
of the best products for a wide range of preferences at accessible price
points, we look forward to taking a differentiated approach that delivers an
exceptional customer experience.”
As cannabis
markets mature and more states come online, the demand for extracted products
continues to accelerate. According to leading cannabis market research firm BDSA,
the cannabis extract market size was estimated at US$9.24B in 2021 and is
projected to increase nearly fivefold, to reach US$42.89 billion by 2030.
