NEW YORK, July 15, 2019 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0ZV) at present introduced Kevin Murphy, Chairman, and Chief Government Officer of Acreage Holdings, executed an open market inventory buy for 154,000 shares by means of the OTCQX on July 12th.
The transaction, valued at greater than US $2,000,000, was executed on the OTCQX open market on Friday, July 12th. The 154,000 shares acquired represented greater than 72% of the typical day by day buying and selling quantity on the OTCQX.
“With the downturn in business inventory costs lately, this was a possibility to point out buyers that Acreage administration is dedicated to creating long-term shareholder worth,” mentioned Murphy. “We stay centered on executing on our strategic plans, together with absolutely leveraging the facility of Cover’s IP. Moreover, we’ve been in dialogue with executives from each Cover and Constellation, and I can guarantee all of our buyers that each one three firms stay absolutely dedicated and enthusiastic about our lately executed settlement.”
Headquartered in New York Metropolis, Acreage is the most important vertically built-in, multi-state operator of cannabis licenses and property within the U.S. with respect to the variety of states with cannabis associated licenses, based on publicly accessible info. Acreage owns licenses to function or has administration or consulting providers agreements in place with license holders to help in operations in 20 states (together with pending acquisitions) with a inhabitants of roughly 180 million People, and an estimated 2022 whole addressable market of greater than $17 billion in authorized cannabis gross sales, based on Arcview Market Analysis. Acreage is devoted to constructing and scaling operations to create a seamless, consumer-focused branded cannabis expertise. Acreage’s nationwide retail retailer model, The Botanist, debuted in 2018.
FORWARD LOOKING STATEMENTS
This information launch and every of the paperwork referred to herein comprises “forward-looking info” inside the which means of relevant Canadian securities laws. All statements, apart from statements of historic reality, included herein are forward-looking info, together with, for larger certainty, statements relating to the proposed transaction with Cover Development Company (the “Proposed Transaction”), together with the anticipated advantages and chance of completion thereof. Usually, forward-looking info could also be recognized by means of forward-looking terminology comparable to “plans”, “expects” or “doesn’t count on”, “proposed”, “is predicted”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases, or by means of phrases or phrases which state that sure actions, occasions or outcomes could, may, would, or would possibly happen or be achieved. There could be no assurance that such forward-looking info will show to be correct, and precise outcomes and future occasions may differ materially from these anticipated in such forward-looking info. This forward-looking info displays Acreage’s present beliefs and relies on info at the moment accessible to Acreage and on assumptions Acreage believes are affordable. Ahead-looking info is topic to identified and unknown dangers, uncertainties and different components which will trigger the precise outcomes, degree of exercise, efficiency or achievements of Acreage to be materially totally different from these expressed or implied by such forward-looking info. Such dangers and different components could embody, however aren’t restricted to: the power of the events to obtain, in a well timed method and on passable phrases, the mandatory regulatory, court docket and shareholders approvals; the power of the events to fulfill, in a well timed method, the opposite circumstances to the completion of the Proposed Transaction; different expectations and assumptions regarding the transactions contemplated within the Proposed Transaction; the accessible funds of Acreage and the anticipated use of such funds; the provision of financing alternatives; authorized and regulatory dangers inherent within the cannabis business; dangers related to financial circumstances, dependence on administration and foreign money danger; dangers regarding U.S. regulatory panorama and enforcement associated to cannabis, together with political dangers; dangers regarding anti-money laundering legal guidelines and regulation; different governmental and environmental regulation; public opinion and notion of the cannabis business; dangers associated to contracts with third-party service suppliers; dangers associated to the enforceability of contracts; reliance on the experience and judgment of senior administration of Acreage; dangers associated to proprietary mental property and potential infringement by third events; the concentrated voting management of Acreage’s founder and the unpredictability attributable to Acreage’s capital construction; dangers regarding the administration of progress; rising competitors within the business; dangers inherent in an agricultural enterprise; dangers regarding vitality prices; dangers related to cannabis merchandise manufactured for human consumption together with potential product recollects; reliance on key inputs, suppliers and expert labor; cybersecurity dangers; capacity and constraints on advertising merchandise; fraudulent exercise by workers, contractors and consultants; tax and insurance coverage associated dangers; dangers associated to the financial system typically; danger of litigation; conflicts of curiosity; dangers regarding sure cures being restricted and the issue of enforcement of judgments and impact service outdoors of Canada; dangers associated to future acquisitions or tendencies; gross sales by current shareholders; and restricted analysis and information regarding cannabis. An outline of extra assumptions used to develop such forward-looking info and an outline of extra danger components which will trigger precise outcomes to vary materially from forward-looking info could be present in Acreage’s disclosure paperwork, together with the Round and Acreage’s Annual Data Kind for the yr ended December 31, 2018 filed on April 29, 2019, on the SEDAR web site at www.sedar.com. Though Acreage has tried to establish vital components that would trigger precise outcomes to vary materially from these contained in forward-looking info, there could also be different components that trigger outcomes to not be as anticipated, estimated or supposed. Readers are cautioned that the foregoing checklist of things just isn’t exhaustive. Readers are additional cautioned to not place undue reliance on forward-looking info as there could be no assurance that the plans, intentions or expectations upon which they’re positioned will happen. Ahead-looking info contained on this information launch is expressly certified by this cautionary assertion. The forward-looking info contained on this information launch represents the expectations of Acreage as of the date of this information launch and, accordingly, is topic to alter after such date. Nonetheless, Acreage expressly disclaims any intention or obligation to replace or revise any forward-looking info, whether or not on account of new info, future occasions or in any other case, besides as expressly required by relevant securities regulation. Neither the Canadian Securities Alternate nor its Regulation Service Supplier has reviewed and doesn’t settle for accountability for the adequacy or accuracy of the content material of this information launch.
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