Total Connecticut market adult-use sales are anticipated to reach $375M in 2023 as Acreage’s The Botanist dispensary in Montville is one of the first to serve adult-use consumers in the state
NEW YORK, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Acreage Holdings, Inc. (“Acreage” or the “Company”) (CSE: ACRG.A.U, ACRG.B.U), (OTC: ACRHF, ACRDF), a vertically integrated, multi-state operator of cannabis cultivation and retailing facilities in the U.S., today launched adult-use cannabis operations in Connecticut at The Botanist dispensary in Montville, located at 887 Norwich-New London Turnpike.
“The Botanist team is thrilled to expand our Connecticut operations to adult-use consumers, beginning with the Montville location,” said Peter Caldini, CEO of Acreage. “We expect Connecticut will be a booming adult-use market, and The Botanist is prepared to meet heightened demand with increased inventory, dedicated medical patient services, and more. As always, our company has been committed to providing exceptional patient care since its inception, and we will continue to prioritize medical patients while welcoming and providing the same level of care and expertise to the wider adult-use audience.”
As a leading retailer in the state, Acreage is among the inaugural group of cannabis operators permitted to commence adult-use sales in Connecticut. Adult-use consumers who are 21+ years old can enjoy a menu with a wide range of flower, pre-rolls, vapes, and edibles, including gummies, and are encouraged to pre-order online to ensure seamless, timely service. As medical patients remain a priority, The Botanist in Montville will ensure that medical patients receive the same high-quality experience with no shortage of medical products, dedicated parking spots, a consulting room, and a separate checkout line. Furthermore, patients can utilize exclusive shopping hours from 8 a.m. to 10 a.m. ET. The Botanist in Montville has ample parking available for all guests, both medical patients, and adult-use consumers; a shuttle service and additional parking lots are listed on shopbotanist.com.
The Botanist in Montville will host a grand opening celebration today, beginning with a ribbon-cutting ceremony at 8:30 a.m. ET. The celebration is expected to be attended by Senator Cathy Osten, Mayor Ronald McDaniel, and additional state and local officials. The Botanist in Montville is the first of the Company’s dispensaries to launch adult-use sales in Connecticut, with its sister locations in Danbury and South Windsor to follow later in 2023.
The Botanist in Montville is open from 8 a.m. to 7 p.m. ET, Monday through Saturday, with the first two hours of operation reserved for medical patients only; adult-use sales begin at 10 a.m. Please visit shopbotanist.com for more details and to pre-order online.
About Acreage Holdings, Inc.
Acreage is a multi-state operator of cannabis cultivation and retailing facilities in the U.S., including the Company’s national retail store brand, The Botanist. With its principal address in New York City, Acreage’s wide range of national and regionally available cannabis products include the award-winning The Botanist brand, craft brand Superflux, the Tweed brand, the Prime medical brand in Pennsylvania, the Innocent brand in Illinois, and others. Acreage also owns Universal Hemp, LLC, a hemp subsidiary dedicated to the distribution, marketing, and sale of CBD products throughout the U.S. Since its founding in 2011, Acreage has focused on building and scaling operations to create a seamless, consumer-focused, branded experience. Learn more at www.acreageholdings.com and follow us on Twitter, LinkedIn, Instagram, and Facebook.
Forward Looking Statements
This news release and each of the documents referred to herein contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation, respectively. All statements, other than statements of historical fact, included herein are forward-looking information. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Forward-looking statements or information involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Acreage or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including, but not limited to financing and liquidity risks, and the risks disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, dated March 11, 2022 and the Company’s other public filings, in each case filed with the SEC on the EDGAR website at www.sec.gov and with Canadian securities regulators and available on the issuer profile of Acreage on SEDAR at www.sedar.com. Although Acreage has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.
Although Acreage believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release and Acreage does not undertake any obligation to publicly update such forward-looking information or forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Service Provider has reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
For more information, contact:
Steve Goertz
Chief Financial Officer
investors@acreageholdings.com
MATTIO Communications
acreage@mattio.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c285c1bf-c92d-43dc-930b-42af6deeae03
