NEW YORKMay 7, 2021  – Ascend Wellness Holdings, Inc. (“AWH” or the “Company”) (CSE: AAWH.U), a multi-state, vertically integrated cannabis operator, today announced that the Underwriters (as defined below) of its previously announced initial public offering of Class A common stock (the “Offering”) have fully exercised and closed their option to purchase an additional 1,500,000 shares of Class A common stock at the Offering price of US$8.00 per share for additional gross proceeds to the Company of US$12,000,000. After giving effect to the full exercise of the over-allotment option, the total number of shares sold by AWH in the Offering increased to 11,500,000 shares and gross proceeds increased to US$92,000,000.

The Offering was conducted through a syndicate of underwriters led by Canaccord Genuity, as sole book-running manager, and included Beacon Securities Limited, Eight Capital, ATB Capital Markets Inc., and Cormark Securities Inc. (collectively, the “Underwriters”).

The Offering was made by means of a prospectus relating to the Offering (the “Prospectus”), which has been filed with the United States Securities and Exchange Commission (the “SEC”). Copies of the prospectus may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov, or from: Canaccord Genuity LLC, Attention: Syndicate Department, 99 High Street, 12th Floor, Boston MA 02110, by email at [email protected].

In Canada, the Offering was completed pursuant to the Company’s supplemented PREP prospectus ‎dated April 28, 2021 (the “Supplemented PREP Prospectus”), which incorporates ‎ the Prospectus as an attachment. A copy of the Supplemented PREP Prospectus is available ‎ under the Company’s profile on SEDAR at www.sedar.com.

About AWH:
AWH is a vertically integrated operator with assets and partners 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 www.awholdings.com.

Forward-Looking Statements

This news release includes forward-looking information and statements, which may include, but are not limited to, the plans, intentions, expectations, estimates, and beliefs of the Company. Words such as “expects”, “continue”, “will”, “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the Company’s current projections and expectations about future events and financial trends, the receipt of all required regulatory approvals, and on certain assumptions and analysis made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate.

Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Such factors include, among others: the risks and uncertainties identified in the Supplemented PREP Prospectus and the Prospectus and in the Company’s other reports and filings with the applicable Canadian securities regulators and the SEC. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

The CSE has not reviewed, approved or disapproved the content of this news release.

SOURCE Ascend Wellness Holdings, LLC

For further information:

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