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Acreage HOLDINGS Exhibit 99.1 Acreage Holdings Reports Third Quarter 2021 Results Third consecutive quarter of positive Adjusted EBITDA * New York , NY - November 10 , 2021 - Acreage Holdings , Inc. ( “ Acreage ” ) ( CSE : ACRG.A.U , ACRG.B.U ) , ( OTCQX : ACRHF , ACRDF ) , a vertically integrated , multi - state operator of cannabis cultivation and retailing facilities in the U.S. , today reported its financial results for the third quarter of 2021 ending September 30 , 2021 ( " Q3 2021 " ) . Third Quarter 2021 Financial and Operational Highlights ( Unaudited ) • • • • • • • Consolidated revenue was $ 48.2 million , an increase of 52 % year - over - year and 9 % sequentially . Gross margin increased to 49 % from 43 % in Q3 2020 . Net loss attributable to Acreage was $ 12.3 million , an improvement from a loss of $ 40.5 million in Q3 2020 . Adjusted EBITDA * was $ 6.5 million , compared to $ ( 6.9 ) million for Q3 2020. Adjusted EBITDA * as a percentage of consolidated revenue was 13.5 % for the third quarter of 2021 . Entered a definitive asset purchase and services agreement to divest the Company's four Oregon retail dispensaries for total consideration of US $ 6.5 million . Rebranded two medical cannabis dispensaries in Connecticut to continue positioning the Company's multi - state retail stores under The Botanist brand . Subsequent to the quarter , Acreage completed the acquisition of cultivation , processing and retail operations in Ohio , establishing a market leadership position in the state . Management Commentary Peter Caldini , CEO of Acreage Holdings , said : " At the beginning of fiscal 2021 , we introduced a refreshed strategy focused on our key priorities , which include delivering improved financial results and generating shareholder value . Our successes throughout 2021 are the culmination of these refocused efforts to drive profitability , strengthen the balance sheet , and accelerate growth in our core markets . " Mr. Caldini continued , " Over the third quarter , we divested our retail assets in Oregon to reprioritize our operations and position our business to capitalize on growth opportunities in our growing core markets . This disciplined approach has delivered another solid quarter of financial performance , with sequential revenue growth , reduced operating expenses , and strong gross margins , resulting in a third consecutive quarter of positive Adjusted EBITDA . ” " With our latest acquisition of the Greenleaf group of companies , we have established a vertically integrated footprint in the rapidly growing Ohio market . This acquisition not only enhances our operational platform with high- quality cultivation , processing , and retail assets but will drive our financial performance from the fourth quarter 1