#KahliBuds #MMJ #CBD #THC

Ascend Wellness Holdings, Inc. (CSE: AAWH.U) (OTCQX: AAWH) is buying its second cultivation license and associated operations in Massachusetts. Ascend did not disclose the price it paid for the transaction.

“We are thrilled to strengthen our commitment to Massachusetts and substantially increase our cultivation and production footprint in the state. Densifying our key markets is a stated strategy for our business and this reinforces that focus, said CEO John Hartmann. “Our wholesale and retail markets have experienced significant growth, fueled by expanded third-party relationships and consumer demand across our three Massachusetts stores – in Boston, Newton, and New Bedford. The demand for additional supply is a direct result of our team’s hard work and remarkable success in the Massachusetts market.”

The company said in a statement that the expansion is due to the increasing demand for its products in Massachusetts and more specifically the success of the Simply Herb brand, which it introduced in the state less than two years ago. Ascend said that Simply Herb has swiftly ascended to the top spot for fourth-quarter sales according to data from BDSA. It captured a meaningful sales lead over the second highest-ranked brand in the entire state.

Ascend said the acquisition is located in Amesbury and is currently pending regulatory approval, which is expected to be granted in the first half of 2024. Until that time, Ascend said it will operate the facility under an interim consulting agreement.

The Amesbury facility features a 54,000 sq. ft. area, with plans for a targeted investment to encompass 15,000 sq. ft. of canopy and a state-of-the-art kitchen. Ascend said that when combined with its existing cultivation and production facility in Athol, Massachusetts, this move will elevate the company’s total cultivation space in the state to an impressive 70,000 sq. ft. of canopy.

Ascend will be reporting its fourth quarter and full-year financial results on March 12.

The post Ascend Wellness to buy second operation in Massachusetts appeared first on Green Market Report.

420GrowLife

via www.KahliBuds.com

Debra Borchardt, KahliBuds, 420GrowLife