Acreage Provides Update on Reporting of its Fourth Quarter and Full Year 2022 Results

Rhea-AI Summary

Acreage Holdings, a multi-state cannabis operator, announced a delay in releasing its fourth quarter (Q4 2022) and full year (FY 2022) financial results due to the need for additional time to complete financial statements and required disclosures. Consequently, the Company will not provide its financial results after market close on March 22, 2023, nor will it hold a conference call on March 23, 2023. An update regarding the financial reporting timeline will be provided in due course.

Positive

• None.

Negative

• Delay in releasing Q4 2022 and FY 2022 financial results may raise concerns among investors about financial transparency.
• Absence of scheduled conference call may limit direct engagement with investors.

NEW YORK, March 22, 2023 (GLOBE NEWSWIRE) -- Acreage Holdings, Inc. (“Acreage” or the “Company”) (CSE: ACRG.A.U, ACRG.B.U) (OTCQX: ACRHF, ACRDF), a vertically integrated, multi-state operator of cannabis cultivation and retailing facilities in the U.S., today announced it requires additional time to complete its financial statements and the disclosures required for its financial results for the fourth quarter (“Q4 2022”) and full year ended December 31, 2022 (“FY 2022”). As a result, the Company will not release its financial results after market close on March 22, 2023, or host a conference call the following day on March 23, 2023. The Company will provide an update regarding its Q4 2022 and FY 2022 financial reporting in due course.

About Acreage Holdings, Inc.

Acreage is a multi-state operator of cannabis ‎cultivation and retailing facilities in the U.S., including the Company’s national retail store ‎brand, The Botanist. With its principal address in New York City, Acreage’s wide range of national and regionally available cannabis products include the award-winning brands The Botanist and Superflux, the Tweed brand, the Prime medical brand in Pennsylvania, the Innocent brand in Illinois and others. Since its founding in 2011, Acreage has focused on building and scaling operations to create a seamless, consumer-focused, branded experience. Learn more at www.acreageholdings.com and follow us on Twitter, LinkedIn, Instagram, and Facebook.

Neither the Canadian Securities Exchange nor its Regulation Service Provider, nor any securities regulatory authority in Canada, the United States or any other jurisdiction, has reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

For more information, contact:

Steve Goertz
Chief Financial Officer
investors@acreageholdings.com
646 600 9181

Courtney Van Alstyne
MATTIO Communications
acreage@mattio.com 

FAQ

Why did Acreage Holdings delay its Q4 2022 financial results?

Acreage Holdings requires additional time to complete its financial statements and necessary disclosures.

What is the new timeline for Acreage Holdings to report its Q4 2022 results?

Acreage Holdings has not provided a specific new timeline but will share an update in the future.

How has the delay in financial results affected Acreage Holdings stocks ACRHF and ACRDF?

The delay may lead to concerns among investors, impacting the perception of the stock's stability.