Acreage Holdings, Inc. (“Acreage”) (CSE:ACRG.A.U, ACRG.B.U), (OTCQX: ACRHF, ACRDF), a vertically integrated, multi-state operator of cannabis cultivation and retailing facilities in the U.S., today announced the completion of an expansion at its Egg Harbor Township, New Jersey cultivation facility (the “Facility”). The expansion maximized the cultivation and manufacturing footprint of the ~85,000 square foot facility, which ultimately increased capacity output fourfold.
Acreage completed the expansion at the Facility to support increasing retail demand at Acreage’s The Botanist locations and to supply the robust and rapidly growing wholesale market in the state with its high quality indoor grown flower and products. Acreage currently operates three dispensaries in New Jersey located in Egg Harbor Township (100 Century Drive), Williamstown (2090 N Black Horse Pike) and Atlantic City (1301 Boardwalk), the maximum number allowable by state law, as well as a cultivation and processing facility.
“Our enhanced Facility provides a solid foundation to scale up operations and support growth in the attractive New Jersey market ahead of the commencement of adult-use sales,” said Peter Caldini, Chief Executive Officer, Acreage. “We are committed to expanding our capabilities in our core states and with this expansion completed, Acreage is well positioned to be one of the strongest market leaders in the State.”