Ascend Wellness Holdings Announces the Opening of Ascend of Evesham Dispensary in Marlton, New Jersey

New adult-use dispensary opens through Ascend's social equity partnership program with New Jersey entrepreneur and community advocate Michael Santana

NEW YORK, Oct. 19, 2026 /CNW/ -- Ascend Wellness Holdings, Inc. ("AWH," "Ascend" or the "Company") (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator and consumer packaged goods company, today announced the opening of Ascend of Evesham, a new adult-use cannabis dispensary located at 601 Route 70 in Marlton, New Jersey. Through an agreement permitted under New Jersey law that facilitates expanded investment opportunities for diversely owned businesses in the cannabis industry, Ascend of Evesham will operate independently, with Ascend providing operational support and resources along with local entrepreneur Michael Santana. Today marks the soft opening of the new storefront, with a grand opening planned for October 23, 2026.

Ascend of Evesham is owned and operated by Michael Santana, a lifelong New Jersey resident, minority business owner, and participant in Ascend's social equity partnership program. Santana brings extensive operational and leadership experience to this new endeavor, having built his career in the construction industry. He also volunteers at expungement clinics across New Jersey, helping individuals navigate the record-clearing process and access new opportunities.

"Opening Ascend of Evesham is the culmination of years of hard work, learning, and believing in the potential of this industry," said Michael Santana, owner and operator of Ascend of Evesham. "As someone who has built a business from the ground up, I understand the importance of creating opportunities, serving customers with integrity, and investing in the community. My goal is to make Ascend of Evesham a trusted destination for cannabis consumers while creating a positive impact here in Marlton and throughout South Jersey."

"Michael's entrepreneurial spirit, commitment to his community, and dedication to building opportunities for others make him an ideal partner," said Danielle Drummond, Vice President of Social Equity at Ascend Wellness Holdings. "Through our social equity partnership program, we aim to help entrepreneurs access the tools, training, and support needed to succeed in this industry. Michael has demonstrated the leadership, determination, and operational excellence needed to build a thriving business, and we are proud to support him as he opens Ascend of Evesham."

Ascend of Evesham offers a curated selection of cannabis products from leading brands, including Ascend's award-winning portfolio Ozone, Simply Herb, High Wired, Honor Roll and Effin', in a welcoming retail environment focused on education, accessibility, and customer service. The dispensary will operate daily from 9:00 AM - 10:00 PM E.T. A grand opening celebration is planned for October 23, 2026, and will feature promotions and in-store activations.

For more information on Ascend of Evesham, visit: https://letsascend.com/stores/marlton-new-jersey/info

Ascend's CO-LAB for Social Equity program focuses on restorative justice, economic empowerment, and community reinvestment. CO-LAB has also supported mentorship, education, and funding for aspiring cannabis entrepreneurs from diverse backgrounds. By fostering inclusivity and supporting community-driven initiatives, Ascend aims to help create pathways to success for minority-owned businesses. For more information on CO-LAB and its initiatives, please visit https://letsascend.com/co-lab-for-social-equity/.

About Ascend Wellness Holdings, Inc.

AWH is a vertically integrated cannabis operator with assets in Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio, and Pennsylvania. AWH owns and operates state-of-the-art cultivation facilities, growing award-winning strains and producing a curated selection of products for retail and wholesale customers. AWH produces and distributes its in-house Ozone, Simply Herb, High Wired, Honor Roll, Royale, and Effin' branded products. For more information about AWH, visit www.awholdings.com.

Cautionary Note Regarding Forward-Looking Information

This news release includes forward-looking information and statements (together, "forward-looking statements"), which may include, but are not limited to, the plans, intentions, expectations, estimates, and beliefs of the Company. Words such as "expects", "continue", "may", "will", "anticipates", and "intends" or similar expressions are intended to identify forward-looking statements. Without limiting the generality of the preceding statement, all statements in this press release relating to estimated and projected revenue, expectations regarding production capacity, anticipated capital expenditures, expansion, profit, product demand, margins, costs, cash flows, sources of capital, growth rates, potential acquisitions, closing dates for transactions, regulatory approvals, future facility openings, and, enhancing shareholder value, reducing downward pressure on the stock, and future financial and operating results are forward-looking statements.

We caution investors that any such forward-looking statements are based on the Company's current projections and expectations about future events and financial trends, the receipt of all required regulatory approvals, and on certain assumptions and analysis made by the Company in light of the experience of the Company and perception of historical trends, current conditions, and expected future developments and other factors management believes are appropriate.

Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein. Such factors include, among others, the risks and uncertainties identified in the Company's most recently filed Annual Report on Form 10-K, as updated in subsequently filed Quarterly Reports on Form 10-Q, as applicable, and in the Company's other reports and filings with the applicable Canadian securities administrators on its profile on SEDAR+ at www.sedarplus.ca and the SEC on its profile on EDGAR at www.sec.gov. Although the Company believes that any forward-looking statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such statements, there can be no assurance that any such forward-looking statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking statements. Any forward-looking statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws. No securities regulator nor the Canadian Securities Exchange has reviewed, approved, or disapproved the content of this press release.

SOURCE Ascend Wellness Holdings, Inc.

Company Contact: Frank Perullo, Founder, President & Director, [email protected], [phone]; Investor Relations & Media Inquiries: MATTIO Communications, [email protected], [email protected]