Ascend Wellness Holdings Announces Partnership With Mister Jones in New Jersey

Rhea-AI Summary

Ascend Wellness Holdings (OTCQX: AAWH) announced a partnership with Lerone Jones and Mister Jones, LLC to open a retail dispensary at 655 US-46, Little Falls, NJ with a grand opening on December 19, 2025. Ascend will fund the retail space, provide upfront capital, supply its product portfolio, and deliver backend technical and operational support. The partnership is one of the first structured under New Jersey Assembly Bill A4151, which expands investment opportunities for diversely owned cannabis businesses. Mister Jones Dispensary will operate daily from 8:00am to 10:00pm. Ascend highlighted its social equity initiatives, including the CO-LAB for Social Equity, and noted Lerone Jones' prior operational experience and advocacy in New Jersey.

Positive

• Retail opening set for Dec 19, 2025 in Little Falls, NJ
• Ascend to fund retail space and provide upfront capital
• Ascend to supply its product portfolio to the dispensary
• Partnership uses New Jersey Assembly Bill A4151 to enable diverse-owner investment

Negative

• No financial terms or capital amounts disclosed for the partnership

Mister Jones Dispensary Set to Open December 19

NEW YORK, Dec. 10, 2025 /PRNewswire/ - Ascend Wellness Holdings, Inc. ("AWH," "Ascend," or the "Company") (CSE: AAWH.U/ OTCQX:AAWH), a multi-state, vertically integrated cannabis operator, has announced a partnership agreement with Mister Jones, LLC and longtime adult-use cannabis advocate Lerone Jones. This partnership marks a significant milestone as it is one of the first under New Jersey's recent Assembly Bill A4151, which facilitates expanded investment opportunities for diversely-owned businesses in the cannabis industry. AWH will provide comprehensive support to fund the retail space and upfront capital, ensure a steady product flow, including the Company's product portfolio, and provide technical assistance to deliver backend operational support. The dispensary, located at 655 US-46, Little Falls Township, NJ 07424, is set to open on December 19th.

Lerone Jones previously worked as the Floor Supervisor at Ascend Montclair and has been an integral part of Ascend's journey, receiving mentorship and developing his operational experience in the cannabis industry. Jones founded his first company, Green Garden Advisors, and has actively advocated for adult-use cannabis in New Jersey at both the state and local levels. In 2017, Jones was invited to Las Vegas along with Senators, Assemblymen, and potential operators from New Jersey to study Nevada's legal adult-use cannabis model. The insights gained from this experience further informed his vision for Mister Jones, LLC.

"I am excited to rejoin Ascend in this new capacity and to continue our shared mission of making cannabis accessible and beneficial for all," said Lerone Jones, founder of Mister Jones, LLC. "I'm passionate about advocating for the power of the plant. This partnership reflects my belief in the potential of this industry to create jobs and stimulate growth in our communities, especially those negatively impacted by The War on Drugs. Together with Ascend, I am eager to establish a retail presence that prioritizes education for our customers."

"Partnering with Lerone Jones and Mister Jones, LLC is an exciting opportunity for Ascend to expand our footprint in New Jersey," said Grazia Laurendi, Regional Director of New Jersey for Ascend Wellness Holdings.. "Lerone's deep understanding of the cannabis industry and his commitment to advocacy make him the ideal partner for this endeavor. We are proud to support him in bringing this retail location to the Little Falls community, and we look forward to contributing to the local economy and fostering responsible cannabis use."

Mister Jones Dispensary will operate 8am to 10pm daily. A grand opening celebration is planned for December 19th and will feature giveaways, promotions and in-store activations. For more information on Mister Jones Dispensary, visit https://misterjones.com/.

Ascend has a strong commitment to social equity in the cannabis industry, demonstrated through initiatives such as the CO-LAB for Social Equity, which focuses on restorative justice, economic empowerment, and community reinvestment. The program has also supported mentorship, education, and funding for aspiring cannabis entrepreneurs from diverse backgrounds. By fostering inclusivity and supporting community-driven initiatives, Ascend aims to help create pathways to success for minority-owned businesses.

About Mister Jones, LLC

Mister Jones, LLC, founded by Lerone Jones, is dedicated to advocating for responsible adult-use cannabis and creating a positive impact in local communities. With a focus on education and accessibility, Mister Jones aims to elevate the cannabis shopping experience for all consumers.

About Ascend Wellness Holdings, Inc.

AWH is a vertically integrated cannabis operator with assets in Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio and Pennsylvania. AWH owns and operates state-of-the-art cultivation facilities, growing award-winning strains and producing a curated selection of products for retail and wholesale customers. AWH produces and distributes its in-house Simply Herb, Ozone, Ozone Reserve, High Wired, Effin', Common Goods, and Royale branded products. For more information about AWH, visit www.awholdings.com.

Cautionary Note Regarding Forward-Looking Information

This news release includes forward-looking information and statements (together, "forward-looking statements"), which may include, but are not limited to, the plans, intentions, expectations, estimates, and beliefs of the Company. Words such as "expects", "continue", "may", "will", "anticipates", and "intends" or similar expressions are intended to identify forward-looking statements. Without limiting the generality of the preceding statement, all statements in this press release relating to estimated and projected revenue, expectations regarding production capacity, anticipated capital expenditures, expansion, profit, product demand, margins, costs, cash flows, sources of capital, growth rates, potential acquisitions, closing dates for transactions, regulatory approvals, future facility openings, and, enhancing shareholder value, reducing downward pressure on the stock, and future financial and operating results are forward-looking statements.

We caution investors that any such forward-looking statements are based on the Company's current projections and expectations about future events and financial trends, the receipt of all required regulatory approvals, and on certain assumptions and analysis made by the Company in light of the experience of the Company and perception of historical trends, current conditions, and expected future developments and other factors management believes are appropriate.

Forward-looking 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 statements herein. Such factors include, among others, the risks and uncertainties identified in the Company's most recently filed Annual Report on Form 10-K, as updated in subsequently filed Quarterly Reports on Form 10-Q, as applicable, and in the Company's other reports and filings with the applicable Canadian securities administrators on its profile on SEDAR+ at www.sedarplus.ca and the SEC on its profile on EDGAR at www.sec.gov. Although the Company believes that any forward-looking statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such statements, there can be no assurance that any such forward-looking 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 statements. Any forward-looking 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 statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws. No securities regulator nor the Canadian Securities Exchange has reviewed, approved, or disapproved the content of this press release.

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SOURCE Ascend Wellness Holdings, Inc.

FAQ

When will Mister Jones Dispensary operated by Ascend (AAWH) open in New Jersey?

The dispensary at 655 US-46, Little Falls, NJ is scheduled to open on December 19, 2025 with a grand opening celebration.

What support is Ascend Wellness Holdings (AAWH) providing to Mister Jones, LLC in New Jersey?

Ascend will fund the retail space, provide upfront capital, ensure steady product supply from its portfolio, and deliver backend operational and technical support.

How will Assembly Bill A4151 affect the Ascend and Mister Jones (AAWH) partnership in New Jersey?

The partnership is one of the first under Assembly Bill A4151, which facilitates expanded investment opportunities for diversely owned cannabis businesses in New Jersey.

What are Mister Jones Dispensary hours and location for AAWH investors or customers?

Mister Jones Dispensary will operate daily from 8:00am to 10:00pm at 655 US-46, Little Falls, NJ 07424.

Does Ascend (AAWH) disclose financial terms of the Mister Jones partnership?

No financial terms or capital amounts were disclosed in the announcement.

What social equity initiatives does Ascend cite in connection with the New Jersey partnership?

Ascend referenced its CO-LAB for Social Equity, which focuses on restorative justice, economic empowerment, mentorship, education, and funding for diverse entrepreneurs.