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About Acreage Holdings (ACRHF)
Acreage Holdings, Inc. (OTCQX: ACRHF) is a vertically integrated, multi-state operator (MSO) in the United States cannabis industry. Since its founding in 2014, Acreage has established a robust operational footprint, encompassing cultivation, processing, and retail facilities across multiple states. With a mission to deliver safe, dosable, and affordable cannabis products, Acreage caters to both medical and recreational consumers, adapting to the evolving legal and regulatory landscape in the U.S.
Business Model and Operations
Acreage operates a vertically integrated business model, enabling it to control the entire cannabis supply chain from cultivation to retail. This approach enhances operational efficiency and ensures consistent product quality. The company’s flagship retail brand, The Botanist, is recognized for its premium offerings and consumer-centric approach. Additionally, Acreage’s product portfolio includes award-winning brands such as Superflux, which specializes in concentrates and edibles, and Prime, a medical cannabis brand in Pennsylvania.
With operations in key markets such as New York, New Jersey, Illinois, and Ohio, Acreage has strategically positioned itself to capitalize on the growing demand for cannabis products. The company’s retail network includes both medical and adult-use dispensaries, offering a wide range of products such as flower, edibles, concentrates, and vaporizers.
Industry Position and Competitive Edge
Acreage stands out in the highly competitive cannabis industry through its diverse product offerings, strategic partnerships, and focus on operational excellence. The company has fostered strong relationships with regulators, physicians, and researchers, aiming to set new industry standards. Its partnership with Canopy Growth, a global cannabis leader, further strengthens its market position and provides access to innovative products and expertise.
Growth Opportunities
As legislation continues to evolve, Acreage is well-positioned to expand its footprint and capabilities. The company has recently entered the adult-use market in Ohio, marking a significant milestone in its growth strategy. With plans to enhance its retail presence and product portfolio, Acreage aims to capture a larger share of the burgeoning U.S. cannabis market.
Commitment to Quality and Compliance
Quality and compliance are at the core of Acreage’s operations. The company employs advanced cultivation techniques and rigorous quality control measures to ensure its products meet the highest standards. By prioritizing consumer safety and regulatory compliance, Acreage has earned a reputation as a trusted provider in the cannabis industry.
Conclusion
Acreage Holdings exemplifies innovation and leadership in the U.S. cannabis sector. With its vertically integrated operations, strong brand portfolio, and strategic market positioning, the company is poised for sustained growth as it navigates the dynamic landscape of cannabis legalization and consumer demand.
Acreage Holdings has announced its participation in major cannabis industry events in November 2022, including MJBizCon in Las Vegas from November 15-18, where CEO Peter Caldini will discuss industry trends and challenges. Additionally, he will be on a panel at the CannaVest West Institutional Capital Forum on November 16, addressing M&A and retail expansion impacts. Acreage is recognized as a multi-state operator in cannabis with a diverse product range, including popular brands like The Botanist and Superflux.
Acreage Holdings, a leading multi-state cannabis operator in the U.S., is set to release its financial results for Q3 ending September 30, 2022, on November 7, 2022. The management team will conduct a conference call on November 8, 2022, at 10:00 a.m. ET to discuss the results. Acreage is well-known for its retail brand, The Botanist, and offers a range of cannabis products across various states. For more information, stakeholders can access the archived webcast on Acreage's investor relations website.
Acreage Holdings has announced an agreement with Canopy Growth to acquire 100% of its Floating Shares, waiving the existing floating share option. Floating shareholders will receive 0.4500 common shares of Canopy for each Floating Share, representing a 17.2% premium. Concurrently, Acreage's credit facility has been amended, allowing immediate access to $25 million and offering increased financial flexibility. The acquisition will also integrate Acreage into Canopy's U.S. ecosystem, expected to bolster growth in the cannabis market, which is projected to exceed $50 billion by 2026.
Acreage Holdings has announced its leadership team will participate in key cannabis industry conferences in September 2022. Key highlights include Lynsi Sheckler moderating a panel on the New Jersey Track and Trace Program at the 3rd Annual New Jersey Cannabis Convention on September 10. CEO Peter Caldini will speak at the Benzinga Cannabis Capital Conference on September 13-14, discussing the cannabis landscape in the Tri-State area alongside a company presentation. Acreage is a multi-state operator focused on cannabis cultivation and retailing in the U.S.
Acreage Holdings reported solid Q2 2022 results with a consolidated revenue of $61.4 million, reflecting a 39% year-over-year growth and an 8% quarter-over-quarter increase. The gross profit was $30.6 million, yielding a 50% gross margin. Adjusted EBITDA reached $10.4 million, marking a 20% improvement sequentially. The company is expanding its operations, notably launching adult-use sales in New Jersey, while completing the sale of its Oregon facilities. Despite a net loss of $9.9 million, Acreage remains optimistic about growth prospects in core markets.
Acreage Holdings, a leading cannabis operator in the U.S., will report its financial results for Q2 2022 on August 8, 2022, after market close. A conference call to discuss these results is scheduled for August 9, 2022, at 10:00 a.m. ET. Investors can access the details via their website. Acreage has established a strong market presence with brands such as The Botanist and Superflux, focusing on consumer-centric cannabis solutions.
Acreage Holdings has completed the sale of its four Oregon retail dispensaries, branded as Cannabliss & Co., to Chalice Brands for US$6.5 million. This deal includes a US$250,000 upfront payment and a 36-month secured promissory note for the remaining US$5.85 million at 12% interest. CEO Peter Caldini noted that exiting Oregon allows Acreage to focus on growth opportunities in the Northeastern market, particularly in the expanding New Jersey and upcoming adult-use markets in New York and Connecticut.
Acreage Holdings (OTC: ACRHF, ACRDF) has announced a new equity joint venture with Kebra Smith-Bolden, founder of CannaHealth™, to launch cannabis operations in Connecticut's Greater New Haven area. The venture awaits approval from the state’s Social Equity Council, emphasizing Acreage's commitment to social equity in cannabis. Smith-Bolden's experience and community focus align with Acreage’s goals to support disproportionately impacted areas in the cannabis space. Connecticut's initiative to allocate half of adult-use licenses to social equity applicants is pivotal for this partnership.
Acreage Holdings reported a 48% year-over-year increase in consolidated revenue, reaching $56.9 million for Q1 2022, marking its fifth consecutive quarter of positive Adjusted EBITDA at $8.6 million. The gross margin improved to 52%, despite total net loss rising to $12.7 million. Key operational highlights included the launch of the Superflux brand across three states and adult-use sales commencement in New Jersey. The company strengthened its financial position with a $150 million Credit Facility, enhancing liquidity to $57.6 million, supporting future growth initiatives.
Acreage Holdings (OTC: ACRHF, ACRDF) announced the conversion of its dispensary in Brewer, Maine to adult-use, enhancing its retail presence in the state. This move aims to expand its market share and improve access for local residents. Additionally, the company finalized the sale of its cultivation and processing facility in Medford, Oregon for $2 million, as part of its strategy to wind down operations in Oregon and focus on core markets. With a commitment to consumer-focused growth, Acreage continues to develop its portfolio of cannabis brands.
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