Exhibit 99
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Acreage Holdings Reports Fourth Quarter and Full Year 2019 Results
New York, NY - February 26, 2020 - Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ), one of the largest vertically integrated cannabis operators in the U.S., today reported financial results for the fourth quarter and year ended December 31, 2019.

FOURTH QUARTER AND FULL YEAR FINANCIAL HIGHLIGHTS (UNAUDITED)
Reported fourth quarter revenue of $21.1 million and full year 2019 revenue of $74.1 million, a 101% and 251% increase, respectively, compared to the same periods in 2018
Pro forma revenue* for the fourth quarter and full year 2019 was $43.6 million and $155.5 million, respectively, a 90% and 101% increase compared to the same periods in 2018
Reported a net loss attributable to Acreage of $50.6 million and $150.3 million for the fourth quarter and full year 2019, respectively
Adjusted net loss* attributable to Acreage was $14.6 million and $50.6 million for the fourth quarter and full year 2019, respectively
Pro forma adjusted EBITDA* was a loss of $15.8 million and $44.4 million for the fourth quarter and full year 2019, respectively
*Pro forma revenue, adjusted net loss and pro forma adjusted EBITDA are non-GAAP measures. Please see discussion and reconciliation of non-GAAP measures below.
“While 2019 was a challenging year for the industry, I am pleased with the many accomplishments we delivered for shareholders including: launching three award-winning brands, implementing our Canopy Growth strategies, and significantly growing our retail and wholesale businesses. We subsequently secured capital for our short-term operating requirements, and we are targeting positive pro-forma adjusted EBITDA in the second half of the year,” said Kevin Murphy, Chair and CEO of Acreage.

2020 OPERATIONAL & FINANCIAL TARGETS
Build out 10 to 15 new retail dispensaries, focused on existing footprint to scale operations as quickly as possible
Increased focus on growing our wholesale business, leading to planned wholesale revenue mix of approximately 20%
Implement general and administrative ("G&A") cost savings initiatives, leading to nearly $7 million in annualized savings, or 12% of reported G&A in 2019
Capital expenditures of $45 to $50 million, primarily for cultivation and processing facilities and dispensary buildouts
Targeting positive pro-forma adjusted EBITDA in back half of the year

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The following information was filed by Acreage Holdings, Inc. ADR on Wednesday, February 26, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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