Mr. Dennis Curran reports

ACREAGE ENTERS NEW YORK ADULT-USE MARKET WITH FIRST WHOLESALE PRODUCT SALE

Acreage Holdings Inc. has launched adult-use (AU) operations in New York.

"We are tremendously proud to officially become an adult-use wholesale distributor in New York," said Dennis Curran, chief executive officer and chairman of Acreage. "As a New York-headquartered company and long-time medical operator in the state, we have been anxiously awaiting the launch of our adult-use operations here. We believe there is immense growth potential in the Empire State, with it expected to become one of the largest cannabis markets in the country, representing an incredible opportunity for us to dramatically increase our total addressable consumer base. We have built strong relationships in New York and are well prepared for this long-anticipated AU launch, with our team having identified key partners for sales. For years, our high-quality products have only been available to medical-use patients, and we are excited for adult-use consumers to now learn why so many patients choose The Botanist."

Specifically, The Botanist's full product line, which includes flower, infused prerolls, edibles, capsules and tinctures, is now available for wholesale purchase to eligible adult-use dispensaries across New York. Products are anticipated to hit participating dispensary shelves the week of Jan. 8, 2024.

On Dec. 8, 2023, NYCanna LLC, a wholly owned subsidiary of Acreage, received approval to enter New York's AU market from the New York Cannabis Control Board (CCB). In addition, the CCB further approved NYCanna to operate up to three, co-located AU dispensaries, providing the company an opportunity to further serve New York's strong demand for high-quality cannabis.

About Acreage Holdings Inc.

Acreage is a multistate operator of cannabis cultivation and retailing facilities in the United States, including the company's national retail store brand, The Botanist. With its principal address in New York, Acreage's wide range of national and regionally available cannabis products include the award-winning brands The Botanist and Superflux, the Prime medical brand in Pennsylvania, and others. Since its founding in 2011, Acreage has focused on building and scaling operations to create a seamless, consumer-focused, branded experience.

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