Ascend Reveals Evolution of Social Equity Programs With Launch of Ascend 'CO-LAB for Social Equity'
-Unveils Ascend CO-LAB for Social Equity 'Takeover' at Dispensaries Throughout February-
To celebrate this, Ascend will unveil the Ascend CO-LAB for Social Equity "takeover" at its stores throughout the month of February, featuring limited-edition merchandise and the launch of its "Round-Up" program. 100% of the proceeds from the exclusive merchandise will directly contribute to supporting the initiatives of the Ascend CO-LAB for Social Equity. Further, through the "Round-Up" program, customers can choose to round-up their receipts to contribute to the CO-LAB.
The mission of the Ascend CO-LAB for Social Equity is to foster a stronger, more equitable cannabis industry by collaborating and addressing the social disparities from the war on drugs in order to spark change. The CO-LAB commitment is rooted in the vision of an inclusive and sustainable industry, recognizing the importance of diversity, equity, and restorative justice. The CO-LAB advocates for the rights and participation of all, especially those historically affected, aiming to rectify past injustices through actions like expungement and decriminalization. The Ascend CO-LAB is a testament to the Company's unwavering belief in a shared future, marked by collective growth, healing, and prosperity. Key initiatives include:
- Mentorship Programs: In 2023, Ascend Social Equity, now Ascend CO-LAB, directly mentored 35 social equity licensees and an additional 65 social equity candidates through partnerships with the
Minority Cannabis Academy, totaling 100 mentees. The focus in mentorship is on guiding current and potential social equity license holders in all aspects of running a successful cannabis business.
- Cultivation Education Tours: Ascend provided 24 cultivation tours in 2023 for social equity license holders, offering in-depth knowledge of cultivation facility operations.
Expungement and Resource Clinics: In collaboration with partners, Ascend hosted 19 expungement clinics and resource fairs in 2023, serving over 1,200 individuals by providing legal support and essential resources such as mental health, food, housing, and employment services.
- Donation: In 2023, Ascend donated more than
$300,000to dozens of grassroots organizations and minority communities disproportionately impacted by the war on drugs. In addition to these donations, in 2023, Ascend's consumers donated over $350,000to the Last Prisoner Project(LPP), representing a total of $2.3 millionin contributions to LPP together with our customers since program inception in 2021. Funds collected through the "Round-Up" program, launched during the takeover, will support initiatives like these and contribute to donations for grassroots organizations, supporting communities impacted by unjust laws.
"We believe justice is a 'Joint Effort' and that those closest to the pain are closest to the solutions," said
Ascend's commitment is rooted in the vision of an inclusive and sustainable industry, advocating for diversity, equity, and restorative justice. The Ascend CO-LAB is a testament to the unwavering belief in a shared future marked by collective growth, healing, and prosperity.
AWH is a vertically integrated operator with assets in
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This news release includes forward-looking information and statements, which may include, but are not limited to, the plans, intentions, expectations, estimates, and beliefs of the Company. Words such as "expects", "continue", "will", "anticipates" and "intends" or similar expressions are intended to identify forward-looking information and statements. Without limiting the generality of the preceding statement, this news release contains forward-looking information and statements concerning the Company's current projections and expectations about future events and financial trends, the timely receipt of all required regulatory approvals, and the general stability of the economic and political environment. We caution investors that any such forward-looking information and statements are based on certain assumptions and analysis made by the Company in light of the experience of the Company and perception of historical trends, current conditions and expected future developments, and other factors management believes are appropriate.
Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Such factors include, among others, the risks and uncertainties identified in the Company's Annual Report on Form 10-K for the year ended
EVP, Investor Relations, Strategy, and Communications, Rebecca Conti Koar, [email protected], (617) 453-4042 ext. 90102