NEW YORK, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Acreage Holdings, Inc. (“Acreage”) (CSE:ACRG.A.U, ACRG.B.U), (OTCQX: ACRHF, ACRDF) today announced the retirement of its short-term strategic financing announced in June 2020. Acreage paid in aggregate approximately $18 million to retire the full principal balance and accrued interest. Payment of this short-term strategic financing, which was used to close the acquisition of vertically-integrated operations in New Jersey, realigns Acreage’s capital structure and significantly reduces the amount of debt outstanding.
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Headquartered in New York City, Acreage is a vertically integrated, multi-state operator of cannabis licenses and assets in the U.S. Acreage is dedicated to building and scaling operations to create a seamless, consumer-focused branded cannabis experience. Acreage debuted its national retail store brand, The Botanist in 2018 and its award-winning consumer brands, The Botanist and Live Resin Project in 2019.