US (NJ): Hurricane Ida caused extensive damage to Sewell-based cultivation facility

Acreage Holdings has informed that Hurricane Ida caused extensive damage to its cultivation center located in Sewell, New Jersey, which was nearing the completion of its construction.

“The damage will significantly delay the opening of the Sewell cultivation center,” said Steve Goertz, Acreage’s Chief Financial Officer. “Based on currently available information, we do not expect the damage to our operations from these events to have a material impact on our current financial condition. Production at our Sewell facility, however, is unlikely to commence in the first quarter of 2022 as previously expected.”