Ascend Wellness Holdings Inc. (OTCMKTS:AAWH) Montclair Starts Selling Recreational Cannabis

Ascend Wellness Holdings Inc. (OTCMKTS:AAWH) announced on August 19, 2022, that Ascend Montclair, located at 395 Bloomfield Ave., will begin selling recreational cannabis. This announcement happens only months after a successful adult-use launch at Ascend Rochelle Park, the first of Ascend’s New Jersey retail locations to commence recreational sales on April 21st.

Trading Data

On Friday, AAWH stock gained 1.99% to $2.56 with more than 62K shares traded, compared to a volume of 87K shares. The stock moved within a range of $2.4700 – 2.5800 after opening trading at $2.57.

AWH Launches Adult-Use Sales at Montclair, New Jersey Dispensary

Consumers over 21 will now get access to a separate adult-use menu featuring a wide selection of products, including flowers, edibles, vapes, and more – both adult-use consumers and medical patients get equal access. To make the shopping experience better, Ascend Montclair customers have to book an appointment to visit during the initial launch, via their website.

To deal with high customer demand, medical patients can enjoy a special array of services, including a medical express lane, direct access to the front entrance, private consultation rooms, designated parking spots, and dedicated shopping hours. Walk-in medical patients who need time-sensitive services may also shop without an appointment.

Key Quote

“After an incredible adult-use launch in Rochelle Park, the Ascend New Jersey team is thrilled to bring that same energy and enthusiasm to Montclair,” said Frank Perullo, President and Co-Founder of AWH. “New Jersey is already showing signs of a booming adult-use market, and Ascend has proactively scaled our operations and staffing to serve our customers’ specific needs in the state. We are grateful for the support of the Montclair community and cannot wait to share the Ascend experience with the people of Montclair and the surrounding towns.”

AWH Enters Definitive Agreement Providing the Option to Acquire Ohio Patient Access LLC

On August 15, 2022, the company announced that it has entered into a definitive agreement for the option to acquire 100% of the equity of Ohio Patient Access LLC which owns and will operate three provisionally licensed dispensaries that are in the process of being built in Cincinnati, Piqua, and Sandusky. Its current Ohio footprint includes two dispensaries, one in each of Coshocton and Carroll, as well as a Tier 2 cultivation facility with 2,000 square feet of canopy.