Acreage Holdings, Inc. Announces Management Changes
June 25, 2020 at 04:30 pm IST
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In connection with the implementation of the New Arrangement, Kevin Murphy has announced that he is resigning as Chief Executive Officer of Acreage Holdings, Inc. and a search for his successor will commence immediately. Mr. Murphy will continue to act as Chairman of the board of directors of Acreage (the "Acreage Board") and contribute to the strategic direction of the company. Director Bill Van Faasen, former Chairman, CEO and President of The Blue Cross Blue Shield of Massachusetts, will serve as Acreage's Interim Chief Executive Officer until a permanent replacement has been identified.
Acreage Holdings, Inc. is a vertically integrated, multi-state operator in the United States cannabis industry. The Companyâs operations include cultivating and processing cannabis plants, manufacturing branded consumer products, distributing cannabis flower and manufactured products, and retailing dosable cannabis products to consumers. It is offering a range of products from its flagship brand, The Botanist, for adult-use sales in New Jersey. It has also launched Botanist Vape Cartridges and Disposables in Illinois, as well as Superflux Cured Concentrates. Its brand also includes Prime Wellness. It owns and operates eight cultivation and processing facilities, one each in Illinois, Maine, New Jersey, New York, Ohio, and Pennsylvania, respectively, and two in Massachusetts. The Company also owns 23 operational dispensaries in seven states. Its subsidiary, Universal Hemp, LLC, distributes, markets, and sells cannabidiol products.
ACREAGE HOLDINGS, INC. 
