News Release Details

AWH to distribute affordable cannabis brand in Massachusetts, Illinois, and Michigan

NEW YORK, March 7, 2022 /PRNewswire/ - 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, announced the launch of Simply Herb, a "value" cannabis brand, in Illinois, Massachusetts, and Michigan.

Simply Herb is the newest addition to AWH's growing brand portfolio. According to Company estimates based on BDSA market data, 25% of industry sales in AWH's operating markets are driven by the "value" category. AWH is launching Simply Herb to address the need for excellent everyday, affordable products suitable for any occasion. Simply Herb offers the quality of all Ascend cannabis with the accessibility of a lower price, perfect for the cost-conscious shopper and the daily smoker. Featuring simple, clean packaging, Simply Herb is an easy-going, flower-focused brand with no frills. The brand is produced at AWH's state-of-the-art cultivation facilities and will offer AWH SKUs, including flower, pre-rolls, popcorn, and shake options.

"Cannabis can better the lives of so many, yet high prices continue to bar value-oriented consumers from being able to reap the benefits of the plant," said Abner Kurtin, founder, and CEO of AWH. "AWH created Simply Herb because enjoying the plant should not have to come at a high price. Historically, AWH's in-house brands included a 'best' brand, Ozone Reserve, and a 'better' brand, Ozone. By adding Simply Herb, a value brand, to our portfolio we are able to round out our offering to cater to every buyer.

AWH is hosting a variety of activations at their retail locations throughout Illinois, Massachusetts, and Michigan to usher Simply Herb into these booming markets. Such activations will include budtender training and incentive programs, store takeovers, and pop-up events.

Simply Herb launched at Ascend retail locations in Massachusetts, Michigan, and Illinois on Monday, March 7. Product formats available at launch across states will include Popcorn and Shake in 7g, 14g, and 1lb sizes, Flower in 1lb and 3.5g sizes as well as 1g Pre-Rolls. Wholesale availability will commence in the same states later this week.

About AWH:

AWH is a vertically integrated operator with assets in Illinois, Michigan, Ohio, Massachusetts, and New Jersey. 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 Ozone branded products. For more information, visit www.awholdings.com. 

Forward-Looking Statements

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 analysis 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-Q for the quarter ended September 30, 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.

The CSE has not reviewed, approved or disapproved the content of this news release.

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SOURCE Ascend Wellness Holdings, Inc.

Investor Contact: Rebecca Koar, (617) 453-4042 ext. 90102, IR@awholdings.com; Media Contact: MATTIO Communications, Mark Sinclair, (650) 269-9530, AWH@mattio.com