AWH Celebrates the Opening of 4th Dispensary in Ohio

Rhea-AI Summary

Ascend Wellness Holdings, Inc. (AAWH.U) has announced the opening of its fourth dispensary in the state of Ohio, located at 1206 Recker Rd, Piqua. This marks the 34th dispensary across its seven-state footprint. The company has entered into a definitive agreement to acquire 100% of the equity of Ohio Patient Access LLC, which owns and will operate two other provisionally licensed dispensaries in Ohio. The Piqua dispensary will offer medical products with everyday low pricing and discounts, open six days a week, and will accept cash and debit cards through cashless ATM terminals.

NEW YORK, Dec. 29, 2023 /PRNewswire/ - Ascend Wellness Holdings, Inc. ("AWH" "Ascend" or the "Company") (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator focused on better living through cannabis, announced the opening of an Ascend Dispensary Outlet, located at 1206 Recker Rd, Piqua, Ohio. The dispensary will be Ascend's fourth in the state of Ohio and 34^th 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 Piqua provisional license, OPA owns and will operate two other provisionally licensed dispensaries; one operating dispensary in Sandusky, Ohio and one in Cincinnati, Ohio, which is expected to open in the coming weeks. Until close, AWH will benefit from the economics under a support service agreement with OPA.³

The Piqua dispensary will be open Monday to Thursday from 10 am to 7pm, Friday and Saturday from 10 am to 8 pm, and Sunday from 10 am to 5 pm. The dispensary will offer medical products and accept both cash and debit cards through provided cashless ATM terminals. Via Ascend's support relationship with OPA, this is Ascend's second outlet store in the state, offering everyday low pricing and discounts.  Ascend is proud to offer a wide range of products at everyday low prices, including a variety of cannabis strains, edibles, tinctures, topicals, and other cannabis-infused products.

Expressing his enthusiasm for the opening of the store, Rick Wilkins, Chief of Stores at Ascend Wellness Holdings, stated, "The opening of the Piqua location is an exciting development, enabling us to broaden access to high-quality cannabis for Ohio patients at consistently affordable prices. We are proud to offer everyday low prices to our consumers and are thankful for the strong partnership with the community and the opportunity to contribute to improved living through cannabis. The opening of the Piqua Dispensary Outlet marks our fourth dispensary and second outlet in the state of Ohio, and we eagerly look forward to further extending our presence in Ohio with the upcoming opening of our Cincinnati store in the coming days. We are also excited about the prospect of welcoming recreational customers, which we anticipate will be possible by the end of 2024, pending regulatory developments."

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 Piqua dispensary. 

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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.

Grand Opening Events

Ascend will be celebrating the opening of this dispensary with a special event. For more information, 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 (collectively, "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 information and statements. Without limiting the generality of the preceding statement, this news release contains forward-looking information and statements concerning the Company's current projections and expectations about future events and financial trends, the timely receipt of all required regulatory approvals, and the general stability of the economic and political environment. We caution investors that any such forward-looking information and statements are based 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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SOURCE Ascend Wellness Holdings, Inc.

FAQ

Where is the new dispensary of Ascend Wellness Holdings, Inc. located?

The new dispensary of Ascend Wellness Holdings, Inc. is located at 1206 Recker Rd, Piqua, Ohio.

How many dispensaries does Ascend Wellness Holdings, Inc. have in Ohio?

Ascend Wellness Holdings, Inc. has four dispensaries in Ohio.

What type of products will the Piqua dispensary offer?

The Piqua dispensary will offer medical products including a variety of cannabis strains, edibles, tinctures, topicals, and other cannabis-infused products.

What are the operating hours of the Piqua dispensary?

The Piqua dispensary will be open Monday to Thursday from 10 am to 7pm, Friday and Saturday from 10 am to 8 pm, and Sunday from 10 am to 5 pm.

How many states does Ascend Wellness Holdings, Inc. operate in?

Ascend Wellness Holdings, Inc. operates in seven states.