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

ATLANTIC CITY, N.J., Feb. 25, 2020 (GLOBE NEWSWIRE) -- Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ), 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 (“The Botanist CCF”) on Saturday, February 22, 2020, by its business partner, New Jersey’s Compassionate Care Foundation, Inc., a New Jersey nonprofit corporation (“CCF”). 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 (including pending acquisitions) 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 19^th 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.

ABOUT ACREAGE HOLDINGS

Headquartered in New York City, Acreage is one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., according to publicly available information. Acreage owns licenses to operate or has management or consulting services or other agreements in place with license holders to assist in operations in 20 states (including pending acquisitions) with a population of approximately 180 million Americans, and an estimated 2022 total addressable market of $16.7 billion in legal cannabis sales, according to Arcview Market Research. Acreage is dedicated to building and scaling operations to create a seamless, consumer-focused branded cannabis experience. Acreage debuted its national retail store brand, The Botanist in 2018 and its award-winning consumer brands, The Botanist and Live Resin Project in 2019.