Standard Wellness Announces Cleveland Expansion and Ohio Retail Portfolio Repositioning

CLEVELAND, July 16, 2026 /PRNewswire/ -- Standard Wellness Holdings, LLC ("Standard Wellness" or the "Company"), a premier multi-state cannabis operator, today announced that it has reached an agreement with License in the Flats, LLC to enter into definitive agreements to acquire License in the Flats' dispensary license, following a required regulatory review period. Once that period ends, the Company and License in the Flats intend to execute those agreements and then proceed with developing the dispensary into a retail location branded as The Forest Cleveland. Following regulatory approval of a change of ownership from the Ohio Division of Cannabis Control, the new dispensary will become the Company's first retail location within the City of Cleveland, where the Company is headquartered.

Additionally, the Company announced the planned divestiture of The Forest Sandusky and The Forest Springfield, its Ohio dispensaries, to Greenlight, again following the receipt of pending regulatory approvals.

"We are excited to expand our presence into the city of Cleveland and serve guests in our hometown," said Kate Ols, Vice President of Retail at Standard Wellness. "As our business continues to grow, we're focused on building a retail network that best positions us to serve our communities for the long term. At the same time, we're proud of the role our Sandusky and Springfield dispensaries have played in Ohio's cannabis history, and we're confident those communities will continue to thrive under Greenlight's leadership."

Standard Wellness and Greenlight are working closely together to support a smooth transition for employees and guests throughout the transfer process. As established operators in both Ohio and Missouri, the companies share a commitment to strengthening the regulated cannabis industry and serving the communities in which they operate.

The new dispensary is expected to serve both local residents and visitors while complementing the Company's existing Northeast Ohio footprint. Under Ohio law, a cannabis operator may own no more than eight dispensary licenses statewide. The acquisition of the Cleveland license and the divestiture of The Forest Sandusky and The Forest Springfield allow Standard Wellness to continue to maintain compliance within Ohio's ownership limits while strategically repositioning its Ohio retail footprint and focus investment on core markets.

The Forest Sandusky and The Forest Springfield have each played meaningful roles in the evolution of Ohio's cannabis industry. Sandusky was the site of the state's first legal cannabis sale in January 2019, while Springfield became part of Ohio's first cannabis industry merger and acquisition transaction when Standard Wellness acquired the dispensary from Pure Ohio Wellness.

Tom Haren of the firm Frantz Ward provided legal counsel for Standard Wellness on the transaction. SSC Advisors acted as Financial Advisor to Standard Wellness on the transaction. Gramercy Capital Group, LLC (through INTE Securities LLC) arranged the financings that facilitated these transactions and continues to serve as advisor to Standard Wellness on capital structure and financing alternatives.

The acquisition of License in the Flats, LLC and the divestiture of The Forest Sandusky and The Forest Springfield remain subject to regulatory approvals and other closing conditions.

About Standard Wellness

Founded in 2017 in Ohio, Standard Wellness is a vertically integrated cannabis company operating across Ohio, Missouri, and Utah, with affiliated cultivation, processing, and cultivation and dispensary operations in Maryland. The Company operates seven retail locations under The Forest brand and has been a pioneer in the industry, including making the first-ever legal marijuana sale in Ohio and completing the first-ever delivery to a Utah pharmacy in February 2020.

With approximately 350 employees, Standard Wellness is dedicated to improving quality of life by providing safe, legal access to cannabis for both medical patients and adult-use consumers.

About Frantz Ward

Frantz Ward LLP is a full-service law firm headquartered in Ohio, with a nationally recognized Cannabis Law & Policy practice, combining deep industry knowledge with practical business counseling. Frantz Ward advises cannabis operators, investors, lenders, and ancillary businesses on mergers and acquisitions, licensing, regulatory compliance, litigation, real estate, financing, and corporate governance matters. The firm's cannabis attorneys have been at the forefront of the regulated cannabis industry since its inception and have represented clients in many of Ohio's most significant cannabis transactions.

About SSC Advisors

SSC Advisors (SSC) acts as an independent financial advisor to the cannabis industry, primarily focusing on exclusive sell-side and buy-side Mergers & Acquisitions. In addition, SSC serves as a strategic advisor to various companies, provides independent valuations and restructuring advisory services, and has acted as an expert witness. Operating across the US, Canada, and Europe, SSC maintains offices in Toronto and Chicago.

About INTE Securities LLC

INTE Securities LLC is a member of FINRA (www.finra.org) / SIPC (www.sipc.org). To view INTE Securities LLC, go to www.finra.org/brokercheck]

For media inquiries, please contact:

Name: Kyle Ciccarelo
Title: Chief Financial Officer
Standard Wellness Holdings, LLC
Email: [email protected]

SOURCE Standard Wellness Holdings, LLC