NEW YORK – Ascend Wellness Holdings, Inc. (“AWH” or the “Company”) (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically built-in hashish operator centered on bettering lives by hashish, introduced the closing of the Company’s definitive settlement to amass Chicago Alternative Health Center, LLC and Chicago Alternative Health Center Holdings, LLC, (collectively “Midway”). The acquisition consists of two working adult-use and medical hashish dispensaries situated at 5650 S. Archer Avenue in Chicago and 9820 S. Ridgeland Avenue in Chicago Ridge. The dispensaries have been initially branded as “Midway” and have been rebranded to “Ascend by Midway.”

The Archer and Ridgeland Ave. dispensaries signify the Company’s seventh and eighth retail places in Illinois. The Archer Ave. retailer is ideally situated in the southwest Chicago space and is the closest dispensary to Midway Airport. The Ridgeland Ave. retailer is inside strolling distance from Chicago Ridge Mall and is definitely accessed proper off the 294 expressway. Both places have giant parking heaps to accommodate excessive volumes of visitors and every retailer boasts over 6,000 sq. ft of retail area, providing a full vary of high-quality medical and leisure merchandise together with flower, pre-rolls, edibles, vaporizers and extra.

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This week, the Company additionally started planting its newly expanded cultivation facility in the state. Previously, the Company had 58,000 sq. ft. of indoor cover at its Barry, Illinois cultivation facility. The Company just lately added a greenhouse with 55,000 sq. ft. of cover on the identical location and has since planted 4 strains and 3,600 crops in the brand new area.

“We’re thrilled to expand our dispensary and cultivation capacity in Illinois by planting our greenhouse and closing on this transaction with Midway, one of the first operators in the state with a strong reputation among consumers and strategically-located dispensaries,” stated Abner Kurtin, CEO of AWH. “We will continue operating these assets and furthering our mission by offering Illinois consumers improved access to premium cannabis and a streamlined and elevated retail experience. As the most populous city in the state of Illinois and the third most-populous city in the U.S., following New York City and Los Angeles, Chicago is a very important market for us and we are happy to solidify our presence in the region.”

Since state legalization in January 2020, Illinois’ authorized hashish market has reached over $1 billion in income with in-state residents accounting for $777 million of complete gross sales. The Ascend by Midway Dispensaries will increase entry to high quality hashish merchandise to 1000’s of people in the Chicago space.

Ascend has been consulting on the operations of these places and consolidating the financials for the reason that transaction settlement was signed in December 2020.

About AWH

AWH is a vertically built-in operator with property in Illinois, Michigan, Ohio, Massachusetts, and New Jersey. AWH owns and operates state-of-the-art cultivation services, rising award-winning strains and producing a curated choice of merchandise. AWH produces and distributes Ozone branded merchandise. For extra info, go to www.awholdings.com.



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