AAWH - New Jersey Approves Adult-Use Cannabis Sales To Launch Within Weeks

• On April 11, 2022, the NJ Cannabis Regulatory Commission approved seven current Alternative Treatment Centers to expand into adult-use.
• NJ is anticipated to be over a $1.5 billion cannabis market by 2025 and benefit from "canna-tourism" from NY, CT, PA, DE and MD.
• The current incumbent operators will have a valuable first-mover advantage in building customer relationships.
• The successful launch of adult-use sales in NJ will likely start a domino effect for other nearby states to legalize adult-use cannabis in the region.
• TerrAscend and Ascend Wellness are likely to see the largest impact to their financial results of all approved operators.

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