Acreage Announces Sale Of Maryland Dispensary

NEW YORK: Acreage Holdings, Inc., a vertically integrated, multi-state operator of cannabis licenses and assets in the U.S., today announced it has entered into a definitive agreement with an undisclosed buyer, pursuant to which the Buyer, when permitted by state law, will purchase all of the issued and outstanding membership interests of Maryland Medicinal Research & Caring, LLC. MMRC is licensed to operate a medical cannabis dispensary in Baltimore, Maryland.

The terms of the deal were not disclosed.  Due to regulatory restrictions regarding license transfers, the Buyer, upon approval by the Maryland Medical Cannabis Commission, will enter into a managed services agreement with MMRC until the requisite time has elapsed before Acreage and the Buyer can close the transaction under the definitive agreement.  Closing of the transaction is contingent upon regulatory approvals.

“The sale of our Maryland dispensary is another step forward in our refocused strategy to accelerate our pathway to profitability,” said Bill Van Faasen, Interim Chief Executive Officer of Acreage. “It follows our divestiture in North Dakota, plus other cost-cutting measures completed earlier this year.  We are moving forward with our refocused plan as quickly as possible and we will continue to update shareholders on our progress as new events transpire.”

Acreage Announces Opening Of The Botanist Dispensary in Florida

NEW YORK: Acreage Holdings, one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., today announced the opening of The Botanist in Spring Hill, Florida, a suburb of Tampa.  The medical cannabis dispensary is Acreage’s first retail location in the state.

With the opening of the dispensary, located at 10520 Spring Hill Road, Acreage now owns or has management services, consulting or other agreements (including pending acquisitions) for 32 operational dispensaries in 13 states, including 14 The Botanist branded dispensaries.

Developed by Acreage, The Botanist is both a retail and product brand, deeply rooted in health and wellness, and focused on the holistic power of cannabis to help individuals live balanced lifestyles. The Botanist offers a wide selection of cannabis-derived products and features a “science meets nature” retail design reminiscent of a 19th century botanist laboratory. Offering a warm and inviting environment in which to learn about the healing properties of the cannabis plant from trained patient care specialists, the Spring Hill Botanist dispensary includes a private consultation room, The Botanist’s signature “green foliage wall,” and much more.

Acreage Announces Grand Opening Of The Botanist By Compassionate Care Foundation in Atlantic City

The Botanist by Compassionate Care Foundation is the first The Botanist dispensary to open in the state of New Jersey

Acreage-Holdings

NEW JERSEY:  Acreage Holdings, one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., today announced the opening of The Botanist by Compassionate Care Foundation on Saturday, February 22, 2020, by its business partner, New Jersey’s Compassionate Care Foundation, Inc., a New Jersey nonprofit corporation. Acreage and CCF are parties to a services agreement with CCF under which Acreage delivers its operational expertise, product development capabilities, and The Botanist retail dispensary brand.  On November 15, 2019, Acreage and CCF entered into a reorganization agreement which will result in CCF becoming a wholly-owned, for-profit subsidiary of Acreage.  Closing of the transaction is subject to state approval.

The medicinal cannabis dispensary is located on the Atlantic City Boardwalk at 1301 Boardwalk, Atlantic City, New Jersey. With the opening, Acreage now owns or has management services, consulting or other agreements for 31 operational dispensaries in 12 states, including 13 The Botanist branded dispensaries.

Developed by Acreage, The Botanist is both a retail and product brand, deeply rooted in health and wellness, and focused on the holistic power of cannabis to help individuals live balanced lifestyles. The Botanist CCF offers a wide selection of flower-only products and features a “science meets nature” retail design reminiscent of a 19th century botanist laboratory. Offering a warm and inviting environment in which to learn about the healing properties of the cannabis plant from trained patient care specialists, The Botanist CCF’s design includes a “SEED BAR” education station, a private consultation room, The Botanist’s signature “green foliage wall,” and much more.

May 15th In NYC: CannaStocks2019 Q1 Investor Conference

CaptureCannaStocks2019 Q1 Investor Conference takes place today (May 15, 2019) in New York City. 

For Investment Professionals, Accredited Investors, and Financial Media

8AM-6PM – Reservations required. Send an INQUIRY to bruce@cannastocks2019.com

OTC Markets Group, 300 Vesey Street, NYC 10282

Featuring: Presentations, Q-and-A, and Panels with select OTC Markets Group leaders in the Cannabis sector. Themes to be explored: innovation, consolidation, international expansion, specialization, legalities, and advertising. 

Companies presenting: KushCo Holdings, Acreage Holdings, MariMed, Emerald Bioscience, OrganiGram Holdings, Sproutly, Emerald Health Therapeutics, Supreme Cannabis Company, Canopy Rivers, 1933 Industries, AXIM Biotechnologies, GSRX Industries, and New Frontier Data will provide an industry overview about current market trends. Investors unable to attend can watch a video webcast of the conference.


To pre-register for the webcast, click HERE:
https://protect-us.mimecast.com/s/_tFRCmZEyPCjvvoruG4-KO?domain=tinyurl.com

There is no charge for access to the webcast. Those unable to view the webcast on May 15 will find it archived and for later viewing on the Virtual Investor Conferences website.

Acreage Holdings Appoints Corey Burchman, MD As Chief Medical Officer

Former Geisel School of Medicine at Dartmouth Clinician and Researcher Brings Expertise in Clinical Cannabinoid Therapeutics to Guide Multi-State Cannabis Operator

Acreage-HoldingsNEW YORK: Acreage Holdings,  announced the appointment of Corey Burchman, MD as Chief Medical Officer. Dr. Burchman will oversee development of an Acreage medical advisory board, assist in developing patient outreach programs, and serve as medical risk mitigator to the company’s product development and innovation. Additionally, Corey will cultivate important relationships with regulatory partners and patient advocacy groups, and drive medical education and engagement throughout the company. Dr. Burchman will report to Chief Operating Officer, Bob Daino.

“Corey is a nationally recognized expert on clinical cannabinoid therapeutics and has chaired multiple national and international conferences on the use of medical cannabis for therapeutic purposes. He is the perfect fit for this critical position and will play an instrumental role in helping Acreage deliver on our mission of bringing safe, affordable cannabis to anyone who needs it,” said Acreage Chairman and CEO, Kevin Murphy

Prior to joining Acreage, Dr. Burchman served as Assistant Professor of Anesthesiology and Pain Medicine at the Geisel School of Medicine at Dartmouth, in Lebanon, NH. At Dartmouth-Hitchcock Medical Center, he directed the Section on Neuroanesthesia, the Post Anesthesia Care Unit, and the Same Day Surgical Program. Additionally, he was an Attending Physician on the Acute Pain Service. Dr. Burchman also served as Medical Advisor to the Board at Prime Alternative Treatment Center of New Hampshire, a therapeutic cannabis dispensary.

Dr. Burchman is an author of a May 2017 study that found a significant reduction in use of opioids, antidepressants and alcohol for pain, anxiety and sleep among medical cannabis patients in New England. Published in the Journal of Psychopharmacology, it remains one of the largest studies of its kind.

On joining Acreage Dr. Burchman said, “In my role as Chief Medical Officer, I hope to bring my experience in clinical cannabinoid therapeutics as the basis for developing strong patient outreach programs, and building relationships with advocacy groups and partners. Working with Acreage allows me to further a theme that has anchored my entire career—patient safety—in an industry that has the capacity to change lives for the better across the country.”

Dr. Burchman received his medical degree from George Washington University School of Medicine and his residency and fellowship training at Harvard Medical School, the Massachusetts General Hospital and the Brigham and Women’s Hospital. He has been actively involved in teaching medical residents, medical research, and administering clinical care for over 33 years. He is a US Navy veteran of 13 years.

Acreage Announces Grand Openings Of Two The Botanist Dispensaries In February

Acreage-HoldingsNEW YORK: Acreage Holdings has announced the opening of three The Botanist branded cannabis dispensaries in New York and Ohio.  The new locations are in the following cities:

The Botanist 

30133 Euclid Avenue   

Wickliffe, OH 

February 6

The Botanist 

138-72 Queens Blvd. 

Jamaica, NY 

February 20

With these new dispensary openings, Acreage now owns or has management services agreements in place for 23 dispensaries that are currently open, in 11 states including seven The Botanist branded dispensaries.

Acreage Announces Listing On The Frankfurt Stock Exchange

NEW YORK: Acreage Holdings announced that its subordinate voting shares have been listed on the open market of the Frankfurt Stock Exchange under the symbol “0VZ.”

Acreage-HoldingsThe Company’s subordinate voting shares continue to be listed on the Canadian Securities Exchange under the symbol “ACRG.U” and on the OTC under the symbol “ACRGF.”

Acreage Holdings’ Partner, Greenleaf Apothecaries, Opens The Botanist Dispensary In Canton, Ohio

NEW YORK: Acreage Holdings, the United States’ largest vertically integrated, multi-state cannabis operator according to public filings, announced Greenleaf Apothecaries has opened its first “The Botanist” medical cannabis dispensary in Canton, OH.

Acreage maintains a Management Services Agreement with Greenleaf that delivers Acreage’s operational expertise, product development capabilities, and “The Botanist” retail dispensary brand. Greenleaf plans to open additional “The Botanist” dispensaries in Akron, Cleveland, Columbus, and Wickliffe that will serve qualifying patients from Ohio’s nearly 12 million residents and an estimated total addressable cannabis market in 2022 of $290 million, according to Arcview Market Research.

Greenleaf is one of three operators in Ohio that was awarded the maximum allotment of five dispensary operating licenses and was also recently awarded a Level 1 provisional cultivation license by the Ohio Department of Commerce. The new cultivation and processing facility will be located in Middlefield, OH.

Acreage Holdings Acquires Blue Tire Holdings In Michigan

NEW YORK: Acreage Holdings announced it has entered into an agreement to acquire the real estate assets of Michigan-based Blue Tire Holdings to bring cannabis products to Michigan residents throughout the state. Leading development efforts in the state will be a team of Acreage Holdings and Blue Tire experts, including Blue Tire’s Chief Medical Officer, Dr. Saqib Nakadar, who was recently appointed to the Michigan Medical Marijuana Advisory Panel.  Dr. Nakadar brings unparalleled medical cannabis experience and regulatory access to the venture for the state of Michigan.

(PRNewsfoto/Acreage Holdings)

c spent the past several years acquiring a portfolio of real estate assets which, now through the expertise and financial resources of Acreage, are optimally suited to building a large scale vertical operation in Michigan, one of the highest per capita cannabis-use markets in the United States.  Blue Tire and Acreage will work together to acquire licenses to operate in the cannabis business in Michigan with respect to such properties.  Acreage will invest significant financial capital in Michigan to build out existing operations and hopes to acquire additional dispensary operations over the next few years.  

The venture is already well positioned to start dispensary operations with municipal licenses in key cities throughout the state including; Detroit, Bay City, Battle Creek, Lansing, and Ann Arbor. Real estate assets have been secured in strategic locations, including a 55,000 square foot facility in Flint that will serve as a large-scale mixed use indoor facility to cultivate high-end cannabis, provide manufacturing and packaging services, and serve as a flagship retail location. Acreage will also leverage an additional 30 acre property in Vassar with a licensed greenhouse cultivation and processing facility.  

Acreage also brings to Michigan a deep team of experts from leading companies in retail, spirits and other highly regulated industries. Acreage’s Board of Directors has unparalleled levels of political access and corporate governance with members including former Speaker of the House of Representatives John Boehner, former Prime Minister of Canada Brian Mulroney, former Governor of Massachusetts Bill Weld, former tw telecom (formerly Time Warner Telecom) Chairman and Chief Executive Officer Larissa Herda, former IBM Chief Financial Officer Douglas Maine and Chair Blue Cross and Blue Shield of Massachusetts, Inc., Bill Van Faasen.

Acreage Holdings Closes $119 Million Private Round – Largest In U.S. Cannabis History

Company Announces Completion of Roll-up and Plans for Public Listing on Canadian Securities Exchange for Q3 2018

NEW YORK: Acreage Holdings, one of the United States’ largest vertically integrated multi-state cannabis operators,  announced it has successfully closed its Series E funding round. The Company secured $119 million of capital and concurrently completed the rollup of control positions in several U.S. states. The proceeds raised will be used to prepare the company for its impending public listing.

“The response we received from our investor partners was profoundly encouraging. The combination of monies raised and the rollup cements Acreage as one of the best capitalized companies in the industry with a footprint that is second to none,” Kevin Murphy, founder and CEO of Acreage Holdings said. “This gives us an exceptionally strong investment proposition to bring into the public markets in our upcoming listing.”

It is believed that the $119 million raised represents the largest private funding raise in U.S. cannabis history. Acreage currently owns or operates licenses in 13 states and plans to use the monies raised to acquire additional licenses, brands and other properties to increase its reach, breadth of offerings and depth of management team. Acreage intends to list the Company this fall on the Canadian Securities Exchange (the “CSE”).

“We are planning on listing on the CSE for many reasons, including the positive reception that the Canadian institutional investment community has shown to the U.S. cannabis industry and to Acreage in particular.  Additionally, the CSE has become the exchange of choice for U.S. companies like ours,” Murphy continued.  “The liquidity on the CSE is incredibly attractive to Acreage, and we know that retail investors in the U.S. have become comfortable with that exchange. We expect to see a tremendous response to our offering this fall.”

“Our objective with our investors is to set the standard in terms of professionalism and competency in order to remove as much risk from cannabis investing as possible,” said George Allen, the President of Acreage Holdings. “It is a mission that will remain paramount to us as we transition from a private to a public investor base.”