Acreage Acquires Compassionate Care Foundation

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NEW YORK, June
29, 2020 (GLOBE NEWSWIRE) -PRESS RELEASE-
Acreage Holdings Inc., a vertically-integrated
cannabis company, announced the closing of the transactions contemplated by the
previously announced reorganization agreement, dated November 15, 2019, between
Acreage and Compassionate Care Foundation, Inc., a New Jersey vertically-integrated
medical cannabis nonprofit corporation. Acreage acquired 100% of the operations
of CCF, and, accordingly, Acreage will subsequently consolidate the results of
operations of the New Jersey medical cannabis business into its consolidated
financial statements. 

In accordance
with the terms of the agreement, Acreage assumed all debts, liabilities and
obligations of CCF, including fees, costs and expenses to be incurred by CCF in
connection with the dissolution and wind-up of CCF and paid to the former
trustees of CCF an aggregate total of $10,000,000 at closing.

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