Acreage Announces Initial Close of Previously Announced Credit Facility and Loan Transaction

NEW YORK, March 17, 2020 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ), one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., today announced (i) the first closing and drawdown of $21 million on the previously announced $100 million credit facility (the “Credit Facility”), with net proceeds of approximately $20.2 (excluding placement fees) to Acreage, and (ii) the borrowing of $22 million (the “Borrowed Amount”) by an Acreage subsidiary (“IP Borrower”) from IP Investment Company, LLC (the “Lender”) in a transaction that represents the initial borrowing under the previously announced loan transaction (the “Loan Transaction”). All dollar amounts referred to herein are in U.S. dollars.

ADDITIONAL TRANSACTION DETAILS