Ascend Fort Lee expands the Company's New Jersey presence to three locations in the Tri-State area

Ascend Wellness Holdings, Inc. ("AWH" or the "Company") (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator focused on bettering lives through cannabis, has announced the opening of its Fort Lee, New Jersey dispensary for medical patients. Ascend Fort Lee is located at 461 West Street, Fort Lee, NJ 07024.

Ascend Fort Lee is the Company's third Ascend dispensary in the state, located in a prime position directly across the Hudson River from New York City and accessible to many major highways and thoroughfares in New Jersey. Ascend Fort Lee features over 3,400 sq ft of dispensary floor space and ample parking. The new location will offer Ascend's full menu of high-quality flower, edibles, vapes, and more to all medical patients from 10 am to 8 pm daily. Patients will also be able to place their orders ahead of time at www.letsascend.com.

"We are proud to deepen our roots in the Garden State and serve even more patients and customers across northern New Jersey," said Frank Perullo, President and Co-Founder of Ascend Wellness Holdings. "Our Fort Lee location has been built to accommodate increasing demand and efficiently serve all customers with the ability to scale for adult-use this fall. The Ascend team is grateful for the support of the New Jersey cannabis community and looks forward to welcoming patients from Fort Lee and beyond."

The Ascend Fort Lee dispensary features 29 registers to maximize efficiency and ease in the checkout process. The large scale of Fort Lee operations will facilitate the anticipated transition to adult-use sales later this fall, allowing the storefront to seamlessly serve both medical patients and recreational consumers in the New York metropolitan area.

AWH is a vertically integrated operator with assets in Illinois, Michigan, Ohio, Massachusetts, 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. AWH produces and distributes its in-house Ozone, Ozone Reserve, and Simply Herb 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, information and statements regarding 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 statements. These forward-looking statements are based on the Company's current projections and expectations about future events and financial trends, and on certain assumptions and analyses made by the Company in light of experience and 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, 2021, and in the Company's other reports and filings with the applicable Canadian securities regulators and the U.S. Securities and Exchange Commission. 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 and 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.