AWH Expands Its Reach with the Opening of Its Third Dispensary in Ohio

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Dec 06, 2023, 07:10 ET

NEW YORK, Dec. 6, 2023 /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, announced the opening of an Ascend Dispensary Outlet, located at 6019 Milan Road, Sandusky, Ohio. The dispensary will be Ascend's third in the state of Ohio and 33^rd across its seven-state footprint.¹

In 2022, AWH entered into a definitive agreement providing AWH the option to acquire 100% of the equity of Ohio Patient Access LLC ("OPA").² In addition to the Sandusky provisional license, OPA owns and will operate two other provisionally licensed dispensaries that are in the process of being built in Cincinnati and Piqua. AWH will benefit from the economics under a support service agreement ("SSA") with OPA.³

The Sandusky dispensary will be open Monday to Thursday and Saturday from 9 am to 7pm; Friday from 9 am to 8 pm; and Sunday 10 am to 6 pm. The dispensary will offer medical products from seven point-of-sale (POS) terminals, accepting both cash and cashless ATM terminals for debit cards. Via Ascend's support agreement relationship with OPA, this is Ascend's first outlet store in the state offering everyday low pricing and discounts. Ascend prides itself on offering a wide range of products, including a variety of cannabis strains, edibles, tinctures, topicals, and other cannabis-infused products. The new dispensary will feature an extensive selection, ensuring that customers have access to the products that best suit their individual needs.

John Hartmann, Chief Executive Officer at Ascend Wellness Holdings, expressed his enthusiasm for this expansion: "With the opening of the Sandusky location, we are thrilled to expand access to high quality cannabis for patients in the Buckeye State. We are grateful for our partnership with the community and the opportunity to foster better living through cannabis. Ascend was pleased to see the citizens of Ohio vote in favor of adult-use on the 7th and are hopeful to bring recreational cannabis to this store and to the other Ohio dispensaries in the coming quarters. We are looking forward to further expanding our presence in Ohio with the expected openings of the Piqua and Cincinnati stores later this year. "

The location is equipped with ample parking, making it easily accessible for residents and visitors to the area. Patients must hold an active Ohio medical marijuana card to purchase medical cannabis products at the Sandusky dispensary.

Grand Opening Events

Ascend will be celebrating the opening of this dispensary with a special event. Attendees can expect educational sessions and giveaways to mark the occasion. For more on the grand opening, sign up for alerts online at www.letsascend.com.

About Ascend Wellness Holdings, Inc.

AWH is a vertically integrated operator with assets in Illinois, Maryland, Massachusetts, Michigan, Ohio, 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 for retail and wholesale customers. AWH produces and distributes its in-house Common Goods, Simply Herb, Ozone, Ozone Reserve, Tunnel Vision, and Royale branded products. For more information, visit www.awholdings.com.

Cautionary Note Regarding Forward-Looking Information

This news release includes forward-looking information and statements, which may include, but are not limited to, 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 information and statements. Without limiting the generality of the preceding statement, all statements in this press release relating to estimated and projected revenue, expectations regarding production capacity, anticipated capital expenditures, expansion, profit, product demand, margins, costs, cash flows, sources of capital, growth rates and future financial and operating results are forward-looking information and statements. We caution investors that any such forward-looking statements and information are based on the Company's current projections and expectations about future events and financial trends, the receipt of all required regulatory approvals, and on certain assumptions and analysis made by the Company in light of the experience of the Company 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, 2022, and in the Company's other reports and filings with the applicable Canadian securities regulators on its profile on SEDAR at www.sedarplus.ca and with the SEC on its profile on EDGAR at www.sec.gov. 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 or 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. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

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¹ Effective once change of ownership occurs.

² Subject to regulatory approval.

³ AWH has the future rights to ownership of both dispensaries, subject to regulatory approval.

SOURCE Ascend Wellness Holdings, Inc.