Standard Wellness Acquires Medical Cannabis Pharmacy in Utah

CLEVELAND, March 25, 2024 /PRNewswire/ -- Standard Wellness Holdings, LLC ("Standard Wellness") is expanding its medical cannabis footprint in Utah through its acquisition of the Cannabist pharmacy, located in Springville. With this acquisition, Standard Wellness is now vertically integrated in the state and will continue operating the pharmacy under the name, The Forest Springville. The pharmacy was acquired for a combination of cash and a seller note.

"This acquisition has been a long time coming, and we couldn't be more excited to engage with Utah patients directly. The Forest Springville immediately strengthens Standard Wellness's cultivation and processing operations located in Corinne, UT," said Vice President of Revenue, Michael Wells.

When shopping at The Forest, medical patients will have access to a wide variety of products including flower, edibles, tinctures, topicals, extracts, and more. The Forest will continue to carry products grown and manufactured by its affiliate, Standard Wellness including The Standard, The Solid, Black Sheep, Gummiez, and Airgraft.

"We're incredibly proud of the group effort put forward by our team on this new expansion," said Standard Wellness COO and Utah resident, Scott Ericson. "We look forward to bringing our approach to health and wellness to the patients of Utah through safe and effective cannabis products."

Jared Maloof, Standard Wellness's CEO said "As we look forward to the balance of 2024, the Company will continue to focus on its core mission as well as strengthening its foundation. Within the next 24 months, we expect to open five new dispensaries in Ohio, acquire dispensaries in Missouri, and further expand our retail footprint in Utah with additional acquisitions."

About Standard Wellness Holdings, LLC:

Founded in 2017 in Ohio, Standard Wellness is vertically integrated in Ohio, Missouri, and Utah with licenses to cultivate, process, and dispense in the state of Maryland. The Company currently operates five retail locations under The Forest brand. Standard Wellness was the first vertically integrated medical marijuana company in Ohio, making the first ever legal marijuana sale in the state through its dispensary, The Forest Sandusky. In February of 2020, the Company made the first ever delivery to a Utah pharmacy.

The Company has approximately 250 employees across several states and its mission is to improve quality of life through safe and easy access to cannabis.

SOURCE Standard Wellness Company, LLC