Ascend Wellness Holdings, Inc. Launches Adult-Use Operations in New Jersey
April 12, 2022 at 07:30 am EDT
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Ascend Wellness Holdings, Inc. 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 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 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.
Ascend Wellness Holdings, Inc. is a vertically integrated multi-state cannabis operator. The Company is focused on operating in adult-use or near-term adult-use states in primarily limited license markets. It is engaged in cultivation, manufacturing, and distribution of cannabis consumer packaged goods, which are sold through Company-owned retail stores and to third-party licensed retail cannabis stores. The Company has licenses and assets in Illinois, Massachusetts, Maryland, Michigan, New Jersey, Ohio, and Pennsylvania. It produces and distributes its in-house Common Goods, Simply Herb, Ozone, Ozone Reserve, Royale, and Tunnel Vision branded products. The Company operates cultivation facilities in six states with approximately 245,000 square feet of total canopy. Common Goods is a no-frills brand that offers high value cannabis for everyday consumption. The brand comes in flower and pre-rolls. Ozone Reserve comes in exotic flower, refined concentrates, purified oils, and vapes.
ASCEND WELLNESS HOLDINGS, INC. 
