STOCK TITAN

Ascend Wellness Expands Access to Non-Medical Cannabis At Its Fifth Retail Location in Ohio

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags

Ascend Wellness Holdings (CSE: AAWH-U.CN, OTCQX: AAWH) has expanded non-medical cannabis sales to its fifth Ohio location in Carroll. This follows the successful launch at four other dispensaries last week, which saw daily sales triple from $12,740 to $33,864. CEO John Hartmann reported revenue surges of at least 3x at the first four stores.

Ohio's cannabis market showed $484.4 million in medical sales in 2023, demonstrating significant potential. Ascend operates five dispensaries and a cultivation facility in Ohio, producing branded products including vapes, gummies, and flower. The company is well-positioned to meet growing demand in this evolving market.

Ascend Wellness Holdings (CSE: AAWH-U.CN, OTCQX: AAWH) ha espanso le vendite di cannabis non medica alla sua quinta sede in Ohio a Carroll. Questo segue il lancio di successo in altre quattro farmacie la scorsa settimana, dove le vendite giornaliere sono triplicate, passando da $12.740 a $33.864. Il CEO John Hartmann ha riportato aumenti di fatturato di almeno 3 volte nei primi quattro negozi.

Il mercato della cannabis in Ohio ha registrato $484,4 milioni in vendite mediche nel 2023, dimostrando un potenziale significativo. Ascend gestisce cinque dispensari e una struttura di coltivazione in Ohio, producendo prodotti a marchio tra cui vaporizzatori, caramelle gommose e fiori. L'azienda è ben posizionata per soddisfare la crescente domanda in questo mercato in evoluzione.

Ascend Wellness Holdings (CSE: AAWH-U.CN, OTCQX: AAWH) ha ampliado las ventas de cannabis no médica a su quinta ubicación en Ohio, en Carroll. Esto sigue al exitoso lanzamiento en otras cuatro dispensas la semana pasada, donde las ventas diarias se triplicaron, pasando de $12,740 a $33,864. El CEO John Hartmann informó sobre un aumento de ingresos de al menos 3 veces en las primeras cuatro tiendas.

El mercado de cannabis de Ohio mostró $484.4 millones en ventas médicas en 2023, demostrando un potencial significativo. Ascend opera cinco dispensarios y una instalación de cultivo en Ohio, produciendo productos de marca que incluyen vaporizadores, gomitas y flores. La compañía está bien posicionada para satisfacer la creciente demanda en este mercado en evolución.

Ascend Wellness Holdings (CSE: AAWH-U.CN, OTCQX: AAWH)는 오하이오 주 캐롤에 다섯 번째 비의료용 대마초 판매점을 확장했습니다. 지난주에 다른 네 개의 약국에서 성공적으로 출시한 이후, 일일 매출이 3배 증가했습니다, $12,740에서 $33,864로 상승했습니다. CEO 존 하트만은 처음 네 개 매장에서 적어도 3배의 수익 증가를 보고했습니다.

2023년 오하이오의 대마초 시장은 $484.4 백만의 의료 판매액을 기록하여 상당한 잠재력을 보여주었습니다. Ascend는 오하이오에서 다섯 개의 약국과 재배 시설을 운영하고 있으며, 전자담배, 젤리, 꽃을 포함한 브랜드 제품을 생산하고 있습니다. 이 회사는 이 진화하는 시장에서 증가하는 수요를 충족할 수 있는 좋은 위치에 있습니다.

Ascend Wellness Holdings (CSE: AAWH-U.CN, OTCQX: AAWH) a élargi les ventes de cannabis non médical à son cinquième emplacement en Ohio à Carroll. Cela fait suite au lancement réussi dans quatre autres dispensaires la semaine dernière, où les ventes quotidiennes ont triplé, passant de 12 740 $ à 33 864 $. Le PDG John Hartmann a rapporté une augmentation des revenus d'au moins 3 fois dans les quatre premiers magasins.

Le marché du cannabis en Ohio a montré 484,4 millions de dollars en ventes médicales en 2023, démontrant un potentiel significatif. Ascend exploite cinq dispensaires et une installation de culture en Ohio, produisant des produits de marque tels que des vapes, des gommes et des fleurs. L'entreprise est bien positionnée pour répondre à la demande croissante dans ce marché en évolution.

Ascend Wellness Holdings (CSE: AAWH-U.CN, OTCQX: AAWH) hat den Verkauf von nicht-medizinischem Cannabis ausgeweitet und nun einen fünften Standort in Carroll, Ohio, eröffnet. Dies folgt auf den erfolgreichen Start in vier weiteren Apotheken in der vergangenen Woche, bei denen die täglichen Verkaufszahlen sich verdreifachten von 12.740 $ auf 33.864 $. CEO John Hartmann berichtete von Umsatzsteigerungen von mindestens dem 3-fachen in den ersten vier Geschäften.

Der Cannabis-Markt in Ohio zeigte $484,4 Millionen in medizinischen Verkäufen im Jahr 2023 und demonstriert damit erhebliches Potenzial. Ascend betreibt fünf Apotheken und eine Anbauanlage in Ohio und produziert Markenprodukte, darunter Vapes, Gummibärchen und Blüten. Das Unternehmen ist gut positioniert, um der wachsenden Nachfrage in diesem sich entwickelnden Markt gerecht zu werden.

Positive
  • Expansion of non-medical cannabis sales to fifth Ohio location
  • Triple increase in daily sales after non-medical sales launch
  • Revenue surge of at least 3x at first four stores
  • Operation of five dispensaries and a cultivation facility in Ohio
  • Production of branded cannabis products in-house
Negative
  • None.

NEW YORK, Aug. 15, 2024 /PRNewswire/ - Ascend Wellness Holdings, Inc. ("AWH," "Ascend" or the "Company") (CSE: AAWH-U.CN) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator, announces expanded access to non-medical sales in Ohio at its fifth location. Beginning today, the Company can sell to non-medical customers 21 years of age or older at its dispensary in Carroll. Ascend's Carroll Dispensary is located at 3560 Dolson Ct NW # B, Carroll, OH 43112. Hours of operation are Monday through Sunday from 9 am to 9 pm. The Company began welcoming non-medical customers last week at its dispensaries in Cincinnati, Coshocton, Piqua, and Sandusky.

After the first week of non-medical sales in Ohio, new analysis from Headset data shows the switch from medical-only cannabis sales to recreational has tripled revenues. A typical Ohio cannabis retailer was generating approximately $12,740 in medical sales a day. When non-medical sales launched on Tuesday, that number jumped to $33,864, a 270% increase in total sales compared to the previous three Tuesdays.

"We've been thrilled by the enthusiastic response from our local communities as non-medical cannabis sales began last week in Ohio. Since transitioning the first four of our stores, we've seen an initial revenue surge by at least three times previous sales and in some cases even higher," said John Hartmann, CEO, Ascend. With this transition to non-medical sales at our fifth store in Carroll, we look forward to watching the momentum in the state continue and take pride in the high standards of quality, excellence, and care that allow us to meet the needs of returning patients and new customers across this burgeoning cannabis market."

With approximately $484.4 million in medical cannabis sales reported by licensed dispensaries in the state in 2023, according to the Ohio Department of Commerce, Ohio's cannabis market has demonstrated substantial potential. The Ohio Division of Cannabis Control's decision to allow existing medical cannabis dispensaries to transition to "dual-use dispensaries" enables Ascend and other licensed operators to meet the evolving needs of consumers.

Ascend operates a cultivation and manufacturing facility in the state, further enhancing its capabilities in meeting the growing demand for cannabis products. The Company produces Common Goods, Simply Herb, and Ozone branded vapes, gummies, and flower in Ohio. Ascend operates five dispensaries across the state, including:

Asend Dispensary Carroll: 3560 Dolson Ct NW # B, Carroll, OH 43112
Ascend Dispensary Cincinnati: 824 Reedy St, Cincinnati, OH 45202
Ascend Dispensary Coshocton: 23024 Co Rd 621 Suite 1, Coshocton, OH 43812
Ascend Dispensary Outlet Piqua: 1206 Recker Rd, Piqua, OH 45356
Ascend Dispensary Outlet Sandusky: 6019 Milan Rd, Sandusky, OH 44870

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, 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 (together, "forward-looking 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 statements. Without limiting the generality of the preceding statement, this news release contains forward-looking statements concerning the Company's current projections and expectations about future events and financial trends, the Company's business plans and ability to execute, and market projections of the Ohio cannabis industry, and the timely receipt of all required regulatory approvals. We caution investors that any such forward-looking statements are based on certain assumptions and analysis made by the Company in light of the experience of the Company and its perception of historical trends, current conditions and expected future developments, and other factors management believes are appropriate.

Forward-looking 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 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, 2023 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 statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such forward-looking statements, there can be no assurance that any such forward-looking 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 statements. Any forward-looking 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 statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking 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.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/ascend-wellness-expands-access-to-non-medical-cannabis-at-its-fifth-retail-location-in-ohio-302222947.html

SOURCE Ascend Wellness Holdings, Inc.

FAQ

What is the impact of non-medical cannabis sales on Ascend Wellness Holdings' (AAWH) revenue in Ohio?

After launching non-medical sales, Ascend Wellness Holdings (AAWH) saw daily sales triple from $12,740 to $33,864, representing a 270% increase in total sales compared to previous weeks.

How many dispensaries does Ascend Wellness Holdings (AAWH) operate in Ohio as of August 2024?

As of August 2024, Ascend Wellness Holdings (AAWH) operates five dispensaries across Ohio, located in Carroll, Cincinnati, Coshocton, Piqua, and Sandusky.

What was the size of Ohio's medical cannabis market in 2023?

Ohio's medical cannabis market reported approximately $484.4 million in sales by licensed dispensaries in 2023, according to the Ohio Department of Commerce.

What cannabis products does Ascend Wellness Holdings (AAWH) produce in Ohio?

Ascend Wellness Holdings (AAWH) produces Common Goods, Simply Herb, and Ozone branded vapes, gummies, and flower in Ohio through its cultivation and manufacturing facility in the state.

ASCEND WELLNESS HOLDNGS A

OTC:AAWH

AAWH Rankings

AAWH Latest News

AAWH Stock Data

99.68M
136.31M
30.29%
8.55%
Drug Manufacturers - Specialty & Generic
Healthcare
Link
United States of America
New York