AWH Commences Medical Operations in Pennsylvania

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Oct 21, 2022, 16:00 ET

Ascend Scranton opens first cannabis dispensary "outlet" in Keystone State

NEW YORK, Oct. 21, 2022 /PRNewswire/ - Ascend Wellness Holdings, Inc. ("AWH" or the "Company") (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator focused on bettering lives through cannabis, has announced the opening of its Scranton, Pennsylvania dispensary for medical patients only. Ascend Scranton is located at 605 Davis Street.

Opening officially on Friday, Oct. 21, 2022, the new dispensary will take a similar approach to outlet stores across industries and will cater to patients by offering quality products at everyday low prices. Ascend Scranton is the first of six expected Ascend dispensaries to come online in Pennsylvania over the next few years. As of May 2022, Pennsylvania has more than 700,000 medical cannabis patients registered, with Scranton being the sixth most populous city in the state.

"Ascend is thrilled to open dispensary doors in Pennsylvania, an exciting emerging market in medical cannabis," said Frank Perullo, interim co-CEO, president and co-founder of Ascend Wellness Holdings. "With its bustling commerce and strategic location in the northeast, Scranton is the perfect city to establish our roots in the Keystone State. Our team is honored by the support of the people of Scranton and is eager to begin to serve the medical patients of the area."

"Pennsylvania's medical cannabis space is a burgeoning market, projected to exceed $1 billion in sales in 2023," said Daniel Neville, interim co-CEO and Chief Financial Officer. "From our premium flower to our top vape selection, Ascend Scranton will provide the finest products at accessible prices to patients. The Ascend team is proud to join the Pennsylvania cannabis community as we ramp up operations in the Electric City."

The Ascend Scranton location features 3,000 square feet of dispensary floor space and abundant parking for all visitors. The dispensary's six registers allow for easy and efficient checkout, with knowledgeable and friendly budtenders available to serve all patient needs. The location also has one consultation room for private patient appointments.

About AWH:

AWH is a vertically integrated operator with assets in Illinois, Michigan, Ohio, Massachusetts, New Jersey, and Pennsylvania. AWH owns and operates state-of-the-art cultivation facilities, growing award-winning strains and producing a curated selection of products. AWH produces and distributes its in-house Ozone, Ozone Reserve, and Simply Herb branded products. For more information, visit www.awholdings.com.

Forward-Looking Statements

This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding the plans, intentions, expectations, estimates, and beliefs of the Company. Words such as "expects", "continue", "will", "anticipates" and "intends" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the Company's current projections and expectations about future events and financial trends, and on certain assumptions and analyses made by the Company in light of experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate.

Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Such factors include, among others: the risks and uncertainties identified in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and in the Company's other reports and filings with the applicable Canadian securities regulators and the U.S. Securities and Exchange Commission. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly, readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

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SOURCE Ascend Wellness Holdings, Inc.