Acreage Receives Provisional Approval To Sell Adult-Use Cannabis at Two Botanist Massachusetts Dispensaries

NEW YORK, July 09, 2020 (GLOBE NEWSWIRE) -- Acreage Holdings, Inc. (a??Acreagea?? or the a??Companya??) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ) today announced that the Massachusetts Cannabis Control Commission (a??CCCa??) has granted the Company provisional licenses for the retail sale of adult-use cannabis in Worcester and Shrewsbury.A  Acreage will add adult-use retail sales to its existing The Botanist dispensary in Worcester, MA, which opened as a medical marijuana treatment center in 2018, and it will open a new The Botanist dispensary in Shrewsbury, MA.A  The CCC voted to grant the provisional licenses at its monthly meeting earlier today.
Acreage anticipates beginning retail sales at both locations as quickly as possible following further regulatory inspections and approvals.A  The Worcester dispensary is located at 65 Pullman Street, Worcester, MA.A  The Shrewsbury dispensary will be located at 235 Hartford Turnpike, Shrewsbury, MA. The companya??s third The Botanist dispensary in Massachusetts is located in the Town of Leominster.Once all approvals are completed and the dispensaries are fully operational, Acreage anticipates adding more than 40 new jobs in Massachusetts.Separately at todaya??s CCC meeting, the commissioners approved a stipulated agreement in which Acreage has agreed to make a $250,000 payment to the Cannabis Control Commission Regulation Fund. The payment is related to previously terminated Management Services Agreements.With todaya??s actions, Acreage looks forward to completing the licensing process and bringing the Commonwealtha??s citizens its full House of Brands product portfolio, including its TheBotanist, Live Resin and Tweed brands, the latter being a Canopy Growth brand that Acreage introduced in the U.S. last year.
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