Ascend Wellness Buys Ohio Cannabis Company, Its 2nd Dispensary In The Buckeye State

The vertically integrated cannabis operator Ascend Wellness Holdings, Inc. AAWH AAWH confirmed Wednesday that it has completed a definitive agreement to acquire Ohio Cannabis Clinic, LLC, (doing business as Ohio Cannabis Company) and its licensed medical marijuana retail dispensary in Coshocton, Ohio. This would make for Ascend’s second dispensary in the Buckeye state.

"Ohio is a key focus of expansion for our Ascend brand given its rapidly-maturing market and near-term potential for adult use," Abner Kurtin, CEO of AWH stated. "We are thrilled to officially add a second Ascend location to our Ohio retail portfolio and look forward to continued growth in the state as we further secure our position in the most attractive U.S. cannabis markets."

The dispensary, located at 23024 Co Rd 621 Suite 1, is strategically positioned in proximity to all large thoroughfares and less than 90 minutes from all major cities including Columbus, Cincinnati and Cleveland. The store will offer patients access to a wide selection of products across flower, pre-rolls, vapes, edibles and topicals

As previously announced, Ascend also finalized the acquisition of BCCO, LLC, which operates a medical dispensary in Carroll, Ohio, currently operating under the Ohio Provisions retail brand and announced the definitive agreement to acquire OCC. The company plans to migrate both the Ohio Provisions and the Ohio Cannabis Company brands over to the Ascend brand.

Ascend, which owns a cultivation facility in Monroe, Ohio, previously entered into an option agreement with Marichron Pharma, LLC to acquire their processing facility in Monroe, pending regulatory approval. 

Price Action

Ascend’s shares closed Tuesday market session 0.18% higher at $5.46 per share.

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