AWH Completes Acquisition Of Two Dispensaries And Cultivation Operation In Illinois

NEW YORK— Ascend Wellness Holdings, Inc. (” AWH” or the “Company”) (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically incorporated marijuana operator concentrated on improving lives through marijuana, revealed the closing of the Company’s conclusive contract to obtain Chicago Alternative Health Center, LLC and Chicago Alternative Health Center Holdings, LLC, (together “Midway”). The acquisition consists of 2 running adult-use and medical marijuana dispensaries situated at 5650 S. Archer Avenue in Chicago and 9820 S. Ridgeland Avenue in Chicago Ridge. The dispensaries were initially branded as “Midway” and have actually been rebranded to “Ascend by Midway.”

The Archer and Ridgeland Ave. dispensaries represent the Company’s seventh and 8th retail areas in Illinois. The Archer Ave. shop is preferably situated in the southwest Chicago location and is the closest dispensary to Midway Airport. The Ridgeland Ave. shop is within strolling range from Chicago Ridge Mall and is quickly accessed straight off the 294 expressway. Both areas have big parking area to accommodate high volumes of traffic and each shop boasts over 6,000 square feet of retail area, using a complete variety of top quality medical and leisure items consisting of flower, pre-rolls, edibles, vaporizers and more.

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This week, the Company likewise started planting its recently broadened growing center in the state. Formerly, the Company had 58,000 sq. ft. of indoor canopy at its Barry, Illinois growing center. The Company just recently included a greenhouse with 55,000 sq. ft. of canopy at the exact same place and has actually because planted 4 stress and 3,600 plants in the brand-new area.

” We’re enjoyed broaden our dispensary and growing capability in Illinois by planting our greenhouse and closing on this deal with Midway, among the very first operators in the state with a strong track record amongst customers and strategically-located dispensaries,” stated Abner Kurtin, CEO of AWH. “We will continue running these possessions and advancing our objective by using Illinois customers enhanced access to premium marijuana and a structured and raised retail experience. As the most populated city in the state of Illinois and the 3rd most-populous city in the U.S., following New York City and Los Angeles, Chicago is an extremely essential market for us and we enjoy to strengthen our existence in the area.”

Since state legalization in January 2020, Illinois’ legal marijuana market has actually reached over $1 billion in profits with in-state citizens representing $777 countless overall sales. The Ascend by Midway Dispensaries will broaden access to quality marijuana items to countless people in the Chicago location.

Ascend has actually been seeking advice from on the operations of these areas and combining the financials considering that the deal arrangement was checked in December 2020.

About AWH

AWH is a vertically incorporated operator with properties in Illinois, Michigan, Ohio, Massachusetts, and New Jersey. AWH owns and runs modern growing centers, growing acclaimed pressures and producing a curated choice of items. AWH produces and disperses Ozone top quality items. For additional information, go to www.awholdings.com.

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