Page 1

Exhibit 99.1 AWH AWH ANNOUNCES Q2 2021 FINANCIAL RESULTS Q2 2021 Net Revenue Increased 26.1 % Quarter - over - Quarter to $ 83.4 Million Increases 2021 Full Year Net Revenue Guidance Range to $ 330- $ 350 Million Added Five New Dispensaries YTD , Three During Q2 2021 NEW YORK , NY , August 10 , 2021 - Ascend Wellness Holdings , Inc. ( " AWH ” or the “ Company ” ) ( CSE : AAWH.U / OTCQX : AAWH ) , a vertically integrated multi - state cannabis operator focused on bettering lives through cannabis , today reported its financial results for Q2 2021 , which ended June 30 , 2021. Financial results are reported in accordance with U.S. generally accepted accounting principles ( " GAAP " ) and all currency is in U.S. dollars . Q2 2021 Financial Highlights • • • Gross Revenue : Total revenue of $ 97.5 million increased 28.5 % quarter - over - quarter and 236.2 % year - over - year . Net Revenue : Net revenue , which excludes intercompany sale of wholesale products , increased 26.1 % quarter - over - quarter to $ 83.4 million . Net revenue for the first six months of 2021 was $ 149.5 million , a 4.0 % increase over the Company's full year 2020 net revenue of $ 143.7 million . Net Loss : Net loss of $ 44.9 million during the second quarter of 2021 , was primarily driven by a $ 32.0 million non - cash interest expense related to the Company's initial public offering ( “ IPO ” ) completed in May 2021. This non - cash interest expense was largely driven by a $ 27.4 million charge related to the beneficial conversion feature of the historical Real Estate Preferred Units that converted in the IPO . Adjusted EBITDA¹ : Adjusted EBITDA of $ 20.3 million represented a 28.3 % increase quarter- over - quarter . Adjusted EBITDA Margin of 24.4 % represented a 43 basis point increase compared to the prior quarter . Balance Sheet : As of June 30 , 2021 , cash and cash equivalents were $ 104.2 million , and net debt , which equals total debt less cash and cash equivalents was $ 27.4 million . The Company has engaged Seaport Global to refinance the existing debt to lower the Company's cost of capital and provide additional cash to support investment . Management Commentary " Our business continues to produce impressive quarter - over - quarter revenue and adjusted EBITDA growth as we scale our wholesale and retail operations across the high - quality markets where we operate , " said Abner Kurtin , Founder and CEO of AWH . " We remain focused on executing , disciplined 1 Adjusted Gross Profit , Adjusted Gross Margin and Adjusted EBITDA are a non - GAAP financial measures . Please see the " Supplemental Information ( Unaudited ) Regarding Non - GAAP Financial Measures " at the end of this press release for a reconciliation of non - GAAP to GAAP measures .