AWH Files DEA Registration Applications for State-Licensed Medical Cannabis Operations
Rhea-AI Summary
Ascend Wellness Holdings (AAWH) filed applications with the DEA to register certain state-licensed medical cannabis operations under the expedited pathway linked to rescheduling medical marijuana to Schedule III. The applications cover dispensaries serving medical patients across Ascend’s core markets, spanning 51 retail locations and over 260,000 square feet of cultivation, processing, and manufacturing space.
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News Market Reaction – AAWH
In the Jun 30 session, AAWH gained 6.77%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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"This is an important first step for medical cannabis patients and the medical community, while laying the groundwork for broader normalization across the industry," said Sam Brill, CEO & Director of AWH. "We remain optimistic about what could come next as the DEA hearing on adult-use cannabis rescheduling gets underway. Further reform will help establish a more level playing field for cannabis operators and could align the industry with more economic opportunities and regulatory frameworks available to traditional businesses."
The applications cover dispensary operations supporting medical cannabis patients across the Company's core markets. AWH's footprint spans 51 retail locations across seven states, including partner-owned and operated stores, and includes more than 260,000 square feet of canopy across its six cultivation, processing, and manufacturing facilities.
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 Ozone, Simply Herb, High Wired, Honor Roll, Royale, and Effin' branded products. For more information about AWH, visit www.awholdings.com.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable U.S. and Canadian securities laws, which may include, but are not limited to, the plans, intentions, expectations, estimates, and beliefs of the Company. Words such as "expects", "continue(s)", "may", "will", "anticipates", "believes", "estimates", "plans", "projects", "outlook", "guidance" and "intends" or similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release also include, without limitation, statements regarding the Company's filing of applications with the U.S. DEA to register certain state-licensed medical operations under the expedited registration pathway established in connection with the rescheduling of medical marijuana to Schedule III of the Controlled Substances Act, as well as the potential impact of such developments on the Company's operations and broader industry.
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, estimates, and analysis made by the Company in light of the experience of the Company and its perception of historical trends, current conditions, and expected future developments and other factors that management believes are appropriate, including, with respect to statements regarding rescheduling, assumptions about the timing and final form of any such rescheduling.
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, without limitation, 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. Readers are cautioned that the foregoing list of factors is not exhaustive. 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.