Acreage Holdings, Inc. announced that in connection with the company?s efforts to right-size it?s governance structure, Kevin Murphy, Chairman of the Board of Directors (Board), and Brian Mulroney, Board member, are stepping down from their respective roles effective August 4, 2023. Dennis Curran, Chief Executive Officer of the Company, will assume the role of Chairman of the Board upon Mr. Murphy?s resignation. The Company recently announced it has implemented a streamlined governance structure that is appropriately sized for Acreage?s near-term priorities as it prepares for the completion of its previously announced strategic arrangement (Floating Share Arrangement) with Canopy Growth Corporation and Canopy USA, LLC.

In connection with this initiative, the Company is evaluating corporate governance actions that would reduce its number of required Board members to three. In the interim, Carl Nesbitt, Chief Financial Officer, and Corey Sheahan, Executive Vice President, General Counsel and Secretary, will be appointed to the Board, effective August 4, 2023.