Acreage sells cannabis facility in Oregon, makes changes to dispensaries, here are the details

Acreage Holdings, Inc. has completed the sale of its cultivation and processing facility in Medford, Oregon, and in conjunction with the sale, closed its dispensary in Powell, Oregon. Total consideration for the sale of the Medford cultivation and processing facility was $2 million, including $0.75 million paid to Acreage in February 2021, $0.5 million due August 1, 2022, and the remaining balance of $0.75 million due May 1, 2023. Additionally, the company has completed the consolidation and conversion of its dispensary in Brewer, Maine to adult use. (Benzinga)

“We are thrilled to convert our Brewer dispensary in Maine to adult-use, further solidifying our leading retail market share position in the state,” stated Peter Caldini, CEO of Acreage. “We look forward to expanding access to Maine residents as we continue to grow our footprint in this market. We are also pleased to have closed the sale of the facility in Oregon, as we work to complete our wind-down of operations in the state and focus on growing our presence in our core markets.”

Article by Vuk Zdinjak