NEW YORK — Ascend Wellness Holdings, Inc. (“AWH” or the “Company”) (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator focused on bettering lives through cannabis, today announced it has been approved to serve adult-use consumers in New Jersey.
AWH is one of the first operators in the state to commence adult-use sales in the coming weeks starting with its flagship Ascend Rochelle Park dispensary located at 174 NJ-17 N. The Company currently operates two of the state’s 23 medical dispensaries and expects to sell adult-use cannabis products at its Montclair retail location at 395 Bloomfield Ave. and open a third dispensary, located in Fort Lee, later this year.
AWH is also approved by the New Jersey Cannabis Regulatory Commission (“CRC”) to begin adult-use cultivation and manufacturing operations at its Franklin facility, which includes 16,000 square feet of canopy that will reach 100,000 square feet by year-end 2023. Recently, the Company scaled its cultivation capabilities to keep pace with the growing total addressable market projected to exceed $2 billion by 2025. In anticipation of growing consumer demand, AWH has enhanced local hiring initiatives and plans to create new jobs throughout New Jersey.
“It is an honor to be part of the inaugural group of cannabis businesses building the foundation for New Jersey’s adult-use market,” said Abner Kurtin, founder and CEO of AWH. “This is a tremendous milestone in our Company growth, and we look forward to expanding cannabis access to more residents across the state while continuing to provide our patients with top care.”
“AWH has served thousands of patients since entering New Jersey’s medical market in May 2021, and we are equipped to offer the same affordable and safe cannabis experiences to our growing community of adult-use consumers,” said Frank Perullo, president of AWH. “Our knowledgeable retail team at Ascend Rochelle Park is prepared to welcome consumers at every stage of their cannabis journeys and provide personalized guidance for all lifestyles and preferences.”
AWH is a vertically integrated operator with assets in Illinois, Michigan, Ohio, Massachusetts, and New Jersey. AWH owns and operates state-of-the-art cultivation facilities, growing award-winning strains and producing a curated selection of products. AWH produces and distributes Ozone branded products. For more information, visit http://www.awholdings.com.