Acreage Holding - ACRHF STOCK NEWS

Welcome to our dedicated page for Acreage Holding news (Ticker: ACRHF), a resource for investors and traders seeking the latest updates and insights on Acreage Holding stock.

Acreage Holdings, Inc. (OTCQX: ACRHF) is a leading, vertically integrated, multi-state operator in the American cannabis industry. Founded in 2014, Acreage has established a robust presence with cultivation, processing, and dispensing operations spanning across 11 states, reflecting its commitment to setting new standards for the industry. The company's principal address is in New York City, and it boasts award-winning brands such as The Botanist and Superflux, alongside the Prime medical brand in Pennsylvania.

Acreage's business model emphasizes a seamless, consumer-focused experience, underpinned by strong partnerships with regulators, physicians, and medical researchers. These collaborations aim to ensure safe, dosable, and affordable cannabis products. As legislation evolves, Acreage is strategically positioned to expand its footprint and capabilities further.

Recent achievements highlight Acreage's operational prowess and market penetration:

• Reported its eleventh consecutive quarter of positive Adjusted EBITDA, underscoring financial stability and operational efficiency.
• The Botanist Danbury Dispensary in Connecticut achieved a 64% year-over-year growth, marking the highest company-wide sales.
• Record-breaking wholesale sales in New Jersey, with significant upgrades at the Egg Harbor Township facility nearing completion to support premium biomass production.
• Expansion into New York's adult-use market and the launch of The Botanist THC-infused gummies in various states, enhancing product diversity.

Furthermore, Acreage has been proactive in legislative developments, with recent regulatory updates in Pennsylvania and Ohio, and the launch of adult-use sales in Connecticut. The company's financial performance for Q3 2023 showcased consolidated revenue of $56.5 million and a net loss of $7.9 million, reflecting the broader market dynamics and strategic investments in growth and infrastructure.

With a management team comprising veterans from major retail, food and beverage, legal, and financial disciplines, Acreage brings unparalleled expertise and pioneering standards to the cannabis cultivation space. As Acreage moves toward its anticipated acquisition by Canopy USA in 2025, it continues to demonstrate resilience and adaptability in a rapidly evolving market, ensuring long-term growth and value for its stakeholders.