{"id":485510,"date":"2021-05-03T07:03:16","date_gmt":"2021-05-03T11:03:16","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/acreage-holdings-and-medterra-announce-a-joint-venture\/"},"modified":"2021-05-03T07:03:16","modified_gmt":"2021-05-03T11:03:16","slug":"acreage-holdings-and-medterra-announce-a-joint-venture","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/acreage-holdings-and-medterra-announce-a-joint-venture\/","title":{"rendered":"Acreage Holdings and Medterra Announce a Joint Venture"},"content":{"rendered":"

\nA Collaboration Between Two of the Largest Industry Innovators in CBD and Cannabis
\n<\/h2>\n
\n

NEW YORK, May 03, 2021 (GLOBE NEWSWIRE) — Acreage Holdings, Inc.<\/u><\/strong><\/a>\u00a0 (CSE:ACRG.A.U, ACRG.B.U), (OTCQX: ACRHF, ACRDF)\u00a0a\u00a0vertically integrated, multi-state operator of cannabis licenses and assets in the U.S., today announced\u00a0its\u00a0subsidiary, Universal Hemp, LLC reached an agreement with\u00a0Medterra CBD, LLC<\/strong><\/a>,<\/strong> one of the largest CBD companies in the industry. This partnership will allow Acreage Holdings to tap into Medterra\u2019s innovation pipeline, high-quality CBD, and significant e-commerce platform for immediate nationwide distribution. Five Farms CBD, LLC<\/strong>, a subsidiary of Medterra, will develop a full spectrum CBD collection under The Botanist, an Acreage Holdings brand. This partnership makes this a first in the cannabis industry for a CBD and a publicly traded cannabis brand to collaborate.<\/p>\n

\u201cLeveraging insights and technology from Medterra to develop Five Farms has allowed us to scale the brand with record-breaking growth over the past year. We\u2019ve been laser focused on identifying how to resonate with the cannabis-friendly consumer,\u201d says J.P. Larsen Co-founder of Medterra and President of Five Farms. \u201cIncorporating Acreage\u2019s The Botanist brand, under Five Farms will allow us to innovate for their target demographic and rapidly expand the brand\u2019s national footprint – it\u2019s an evolution for both industries and the future of CBD and cannabis companies.\u201d<\/p>\n

\u201cThis asset-lite approach to entering the U.S. CBD market with Medterra, a leader in the industry, will allow Acreage to realize a low-risk, high-margin revenue stream, and is aligned with our shareholder commitment to deliver increased returns and outsized shareholder value creation\u201d said Peter Caldini, Chief Executive Officer of Acreage.\u00a0 \u201cPartnering our flagship brand,\u00a0The Botanist, with\u00a0Medterra\u2019s fastest growing line, Five Farms, ensures the broadest\u00a0consumer\u00a0distribution through their industry-leading e-commerce platform, as well as the most efficient \u2018go-to-market’ strategy.\u201d\u00a0\u00a0\u00a0<\/p>\n

Acreage will license\u00a0The Botanist\u00a0brand to Five Farms, which will manufacture, market, and sell\u00a0The Botanist\u00a0branded CBD products through\u00a0Medterra\u2019s\u00a0e-commerce platform. The Botanist\u00a0branded\u00a0CBD is expected to be available the second half of 2021.\u00a0<\/p>\n

\n ABOUT FIVE FARMS<\/strong>
\n
Five Farms is setting a new standard for CBD; its perfected the full spectrum CBD experience. The name \u201cfive\u201d comes from the commitment to use every part of the hemp plant for a 5:1 ratio. Five Farms uses the highest quality CBD in the U.S. and offers fair pricing on products that consumers can feel the difference. A certificate of analysis from third-party labs for potency, quality and effectiveness is available for every product on the website. For more information, please visit www.fivecbd.com<\/a>.<\/p>\n

\n ABOUT ACREAGE
<\/strong>With its principal address in New York City, Acreage is a multi-state operator of cannabis \u200ecultivation and retailing facilities in the U.S., including the company\u2019s national retail store \u200ebrand,\u00a0The Botanist<\/em>. Acreage\u2019s wide range of national and regionally available cannabis products include the award-winning\u00a0The Botanist<\/em>\u00a0brand, the highly recognizable\u00a0Tweed<\/em>\u00a0brand, the\u00a0Prime<\/em>\u00a0medical brand in Pennsylvania, the\u00a0Innocent<\/em>\u00a0edibles brand in Illinois and others. Acreage also owns Universal Hemp, LLC, a hemp subsidiary dedicated to the distribution,\u00a0marketing,\u00a0and sale of CBD products throughout the U.S. Since its founding in 2011, Acreage has focused on building and scaling operations to create a \u200eseamless, consumer-focused, branded experience. More information is available at\u00a0www.acreageholdings.com<\/a><\/u>.\u00a0<\/p>\n

On June 27, 2019, Acreage implemented an arrangement under section 288 of the Business Corporations \u200eAct (British Columbia) with Canopy Growth Corporation (\u201cCanopy Growth\u201d), which was subsequently amended on September 23, 2020 (the \u201cAmended Arrangement\u201d)\u200e. Pursuant to the Amended Arrangement, \u200eupon \u200ethe occurrence (or waiver by Canopy Growth) of changes in federal laws in the United States to permit the general cultivation, distribution and possession of marijuana (as defined in the relevant legislation) or to remove the regulation of such activities from the federal laws of the United States (the \u201cTriggering Event\u201d), Canopy Growth will, subject to the \u200esatisfaction or waiver of certain closing conditions, acquire \u200eall of the issued and outstanding Class E subordinate voting shares (the \u201cFixed Shares\u201d) on the basis of 0.3048 of a Canopy Growth share per \u200eFixed Share (following the automatic conversion of the Class F multiple voting shares and subject to adjustment \u200ein accordance with the terms of the arrangement agreement entered into between Acreage and Canopy Growth on April 18, 2019, as amended on May 15, 2019 and on September 23, 2020).\u00a0<\/p>\n

In addition, Canopy Growth holds an option, exercisable at the discretion of Canopy Growth, to acquire all of the \u200eissued and outstanding Class D subordinate voting shares (the \u201cFloating Shares\u201d) at the time that Canopy Growth acquires the Fixed Shares, for \u200ecash or Canopy Growth shares, as Canopy Growth may\u00a0determine, at a price per Floating Share based \u200eupon the 30-day volume-weighted average trading price of the Floating Shares on the CSE relative to the trading price of the Canopy Growth shares at the time of the \u200eoccurrence or waiver of the Triggering Event, subject to a minimum price of US$6.41 per Floating Share.\u00a0<\/p>\n

For more information about the Amended Arrangement please see the Acreage proxy statement and management information circular dated August 17, 2020 (the \u201cCircular\u201d) and the respective \u200einformation circulars of each of Acreage and Canopy Growth dated May 17, 2019, which are available on \u200eAcreage\u2019s and Canopy Growth\u2019s respective profiles on SEDAR at www.sedar.com and filed with the SEC on the EDGAR website at www.sec.gov<\/a>. For additional information regarding \u200eCanopy Growth, please see Canopy Growth\u2019s profile on SEDAR at www.sedar.com<\/a>.\u00a0<\/p>\n

\n FORWARD LOOKING STATEMENTS<\/strong>\u00a0
This news release and each of the documents referred to herein contains \u201cforward-looking information\u201d and \u200e\u200e\u201cforward-looking statements\u201d within the meaning of applicable Canadian and United States securities legislation, \u200erespectively. All statements, other than statements of historical fact, included herein are forward-looking \u200einformation, including, for greater certainty, statements regarding the Amended Arrangement, including\u00a0Acreage\u2019s position in the New Jersey market,\u00a0the likelihood of completion thereof, the \u200eoccurrence or waiver of the Triggering Event, the satisfaction or waiver of the closing conditions set out in the Arrangement Agreement and other statements with respect to the proposed transactions with Canopy Growth. \u200eOften, but not always, forward-looking statements and information can be identified\u00a0using\u00a0words such as \u200e\u200e\u201cplans\u201d, \u201cexpects\u201d or \u201cdoes not expect\u201d, \u201cis expected\u201d, \u201cestimates\u201d, \u201cintends\u201d, \u201canticipates\u201d or \u201cdoes not anticipate\u201d, \u200eor \u201cbelieves\u201d, or variations of such words and phrases or state that certain actions, events, or results \u201cmay\u201d, \u201ccould\u201d, \u200e\u200e\u200e\u201cwould\u201d, \u201cmight\u201d or \u201cwill\u201d be taken, occur or be achieved. \u200e\u00a0<\/p>\n

Forward-looking statements or information involve known and unknown risks, uncertainties and other \u200efactors which may cause the actual results, performance or achievements of Acreage or its \u200esubsidiaries to be materially different from any future results, performance or achievements expressed or \u200eimplied by the forward-looking statements or information contained in this news release. Risks, uncertainties and other factors involved with forward-looking \u200einformation could cause actual events, results, performance, prospects and opportunities to differ \u200ematerially from those expressed or implied by such forward-looking information, including, but not \u200elimited to financing and liquidity risks, and the risks disclosed in the Circular, Acreage\u2019s \u200emanagement information circular dated May 17, 2019 filed on May 23, 2019, Acreage\u2019s annual report on Form 10-K for the year ended \u200eDecember 31, 2020\u00a0\u200edated\u00a0March 25, 2021\u00a0and Acreage\u2019s other public filings, in each case filed with the SEC on the EDGAR website at www.sec.gov and with \u200eCanadian securities regulators \u200eand available on the issuer profile of Acreage on SEDAR at www.sedar.com. Although Acreage has attempted to identify \u200eimportant factors that could cause actual results to differ materially from those contained in forward-looking \u200einformation, there may be other factors that cause results not to be as anticipated, estimated or intended. \u200e\u00a0<\/p>\n

Although Acreage believes that the \u200eassumptions and factors used in preparing the forward-looking information or forward-looking \u200estatements in this news release are reasonable, undue reliance should not be placed on such information \u200eand no assurance can be given that such events will occur in the disclosed time frames or at all. The \u200eforward-looking information and forward-looking statements included in this news release are made as of \u200ethe date of this news release and Acreage does not undertake any obligation\u00a0to publicly update such \u200eforward-looking information or forward-looking statements to reflect new information, subsequent events \u200eor otherwise unless required by applicable securities laws.\u00a0\u00a0<\/p>\n

Neither the Canadian Securities Exchange nor its Regulation Service Provider has reviewed and does not accept \u200eresponsibility for the adequacy or accuracy of the content of this news release.\u200e\u00a0<\/p>\n\n\n
\n Media Contact:<\/strong>\u00a0
Patricia Rosi\u00a0
Vice President, Marketing\u00a0
Patricia.rosi@acreageholdings.com<\/a>\u00a0\u00a0
646-600-9181\u00a0<\/td>\n		\n Investor Contact:<\/strong>\u00a0
Steve West\u00a0
Vice President, Investor Relations\u00a0
Investors@acreageholdings.com<\/u>\u00a0<\/a>
<\/a>646-600-9181\u00a0<\/td>\n<\/tr>\n<\/table>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

A Collaboration Between Two of the Largest Industry Innovators in CBD and Cannabis NEW YORK, May 03, 2021 (GLOBE NEWSWIRE) — Acreage Holdings, Inc.\u00a0 (CSE:ACRG.A.U, ACRG.B.U), (OTCQX: ACRHF, ACRDF)\u00a0a\u00a0vertically integrated, multi-state operator of cannabis licenses and assets in the U.S., today announced\u00a0its\u00a0subsidiary, Universal Hemp, LLC reached an agreement with\u00a0Medterra CBD, LLC, one of the largest CBD companies in the industry. This partnership will allow Acreage Holdings to tap into Medterra\u2019s innovation pipeline, high-quality CBD, and significant e-commerce platform for immediate nationwide distribution. Five Farms CBD, LLC, a subsidiary of Medterra, will develop a full spectrum CBD collection under The Botanist, an Acreage Holdings brand. This partnership makes this a first in the cannabis industry for a CBD and a publicly … <\/p>\n

Continue reading “Acreage Holdings and Medterra Announce a Joint Venture”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-485510","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAcreage Holdings and Medterra Announce a Joint Venture - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/acreage-holdings-and-medterra-announce-a-joint-venture\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Acreage Holdings and Medterra Announce a Joint Venture - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"A Collaboration Between Two of the Largest Industry Innovators in CBD and Cannabis NEW YORK, May 03, 2021 (GLOBE NEWSWIRE) — Acreage Holdings, Inc.\u00a0 (CSE:ACRG.A.U, ACRG.B.U), (OTCQX: ACRHF, ACRDF)\u00a0a\u00a0vertically integrated, multi-state operator of cannabis licenses and assets in the U.S., today announced\u00a0its\u00a0subsidiary, Universal Hemp, LLC reached an agreement with\u00a0Medterra CBD, LLC, one of the largest CBD companies in the industry. 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This partnership will allow Acreage Holdings to tap into Medterra\u2019s innovation pipeline, high-quality CBD, and significant e-commerce platform for immediate nationwide distribution. Five Farms CBD, LLC, a subsidiary of Medterra, will develop a full spectrum CBD collection under The Botanist, an Acreage Holdings brand. 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