Ascend Wellness Announces Opening of a New Dispensary in Wharton, New Jersey

~ Grand Opening Slated for June 28, 2024 ~

NEW YORK, June 20, 2024 /PRNewswire/ - Ascend Wellness Holdings, Inc. ("AWH," "Ascend" or the "Company") (CSE: AAWH-U.CN) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator, announces the relocation of its cannabis dispensary in Montclair, New Jersey to Wharton, New Jersey. This move underscores the company's dedication to serving the thriving adult-use and medical cannabis market in New Jersey and providing its customers with convenience through strategic location and diverse offerings.

The Ascend Wharton dispensary offers both medical and adult-use customers in the Morris County area a wide-ranging selection of cannabis products, including popular whole flower products, vaporizers, concentrates, ingestibles, topicals, and accessories. This location will also include a drive-thru, Ascend's second drive-thru location in its 37 store footprint, enabling customers to have a convenient experience.

"The opening of Ascend's Wharton location will allow us to serve an underserved market in New Jersey," said Rick Wilkins, Chief of Stores at Ascend. "We are dedicated to serving both our medical patients and adult-use customers, ensuring we meet their needs responsibly. This move reflects our commitment not only to business growth but also to adapting to the evolving demands of our customers."

To celebrate the opening of the Wharton dispensary, Ascend invites customers, patients, and community members to join in the grand opening festivities on June 28, 2024. Attendees will have the opportunity to explore the facility, meet the Ascend team, and learn more about the company's commitment to meeting consumer's evolving needs.

Spanning approximately 3,000 square feet, the Wharton location features 13 sales terminals to ensure efficient service and minimal wait times for patients. The presence of six kiosks, two on-site ATMs, and spacious parking further enhances the convenience of the shopping experience, offering multiple options for transactions.

Ascend customers can also join the free Ascenders Club, where shopping becomes even more rewarding. Highlights include earning 1 point for every $1 spent at Ascend with bonus points for referring friends. Customers can sign up in-store or online at www.letsascend.com.

Ascend Wharton is located at 325 NJ-15 in Wharton, NJ and will be open Monday to Sunday from 8 am – 10 pm.

For more information about Ascend and its dispensaries, visit www.awholdings.com.

AWH is a vertically integrated operator with assets in Illinois, Maryland, Massachusetts, Michigan, Ohio, New Jersey, and Pennsylvania. AWH owns and operates state-of-the-art cultivation facilities, growing award-winning strains and producing a curated selection of products for retail and wholesale customers. AWH produces and distributes its in-house Common Goods, Simply Herb, Ozone, Ozone Reserve, Tunnel Vision, and Royale branded products. For more information, visit www.awholdings.com.

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 information and statements. Without limiting the generality of the preceding statement, this news release contains forward-looking information and statements concerning the Company's current projections and expectations about future events and financial trends, the timely receipt of all required regulatory approvals, and the general stability of the economic and political environment. We caution investors that any such forward-looking information and statements are based on certain assumptions and analysis made by the Company in light of the experience of the Company and its 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 Company's Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company's other reports and filings with the applicable Canadian securities regulators on its profile on SEDAR+ at www.sedarplus.ca and with the SEC on its profile on EDGAR at www.sec.gov. 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 or 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 Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

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SOURCE Ascend Wellness Holdings, Inc.