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Home » Cannabis » Vertically integrated cannabis firm Ascend Wellness raises $55 million for expansion

Vertically integrated cannabis firm Ascend Wellness raises $55 million for expansion

Drew Hendricks by Drew Hendricks
April 26, 2019
in Cannabis
1 min read
54
0
Ascend Wellness Holdings

February 20th, 2019 / MJBiz – Boston-based Ascend Wellness Holdings (AWH), a multistate vertically integrated marijuana operator, secured $55 million in funding to aid expansion plans in its home state of Massachusetts and other markets.

The additional money will allow the company to grow its footprint into Ohio, where Ascend has an agreement to purchase a cultivation license and is in “advanced discussions” for dispensary licenses, the company said in a news release.

The capital will also fund construction of AWH’s adult-use flagship store in Boston, the first of its kind in a major East Coast city.

AWH is also building a 9.5-acre cannabis cultivation facility, MassGrow. Located in Athol, Massachusetts, the campus is expected to produce 15 million grams of cannabis annually.

The raise follows a $40 million funding completed in December.


Tags: fundingmarajuana
Drew Hendricks

Drew Hendricks

Drew Hendricks is a business technology and social marketing specialist. Drew has also written for many major publishers such as Forbes, Entrepreneur Magazine and The Huffington Post. Drew has also worked with a variety of different startups around the globe as well as larger advertising agencies in the United States and the UK.

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