Ascend Wellness Partners with Cannabis Advocate for New Dispensary in New Jersey

NEW YORK – Ascend Wellness Holdings Inc. disclosed a partnership with Mister Jones LLC and industry advocate Lerone Jones to launch a retail dispensary in Little Falls, NJ. The arrangement, one of the initial deals enabled by state legislation expanding investment in minority- and women-owned Cannabis ventures, positions the companies to open doors on December 19.

Under the agreement, Ascend will supply startup funding for the site, along with inventory from its brands, and operational guidance. Jones brings years of state-level lobbying experience, including a 2017 study tour of Nevada’s market with New Jersey lawmakers. The store, Mister Jones Dispensary, will focus on educating customers and promoting the responsible use of its products, followed by a grand opening featuring promotions and community events.

This collaboration stems from Assembly Bill A4151, signed into law in 2023, which permits outside investors to hold up to 35% equity in qualifying social equity licenses while offering loans and intellectual property under market-standard terms. The measure targets Class 5 retail permits held by certified minority-, women- or disabled veteran-owned businesses, aiming to inject capital without diluting control beyond set thresholds. In New Jersey’s market, where combined medical and recreational Cannabis sales topped $1 billion in 2025 [up nearly 25% year-over-year], such provisions address early barriers that sidelined diverse applicants amid high entry costs.

For Ascend, active in cultivation and retail across seven states including New Jersey, the deal extends its network [now numbering over a dozen outlets in the state] without triggering ownership caps on equity-focused licenses. Financially, it aligns with the company’s strategy of selective growth. Third-quarter net revenue rose 11% year-over-year to $124.7 million, buoyed by New Jersey contributions, though margins remain pressured by wholesale pricing. Critics, however, watch for enforcement. The Cannabis Regulatory Commission must vet deals for fairness to prevent predatory financing disguised as support.

Jones described the venture as a chance to rebuild in communities scarred by past drug policies. “This partnership reflects my belief in the potential of this industry to create jobs and stimulate growth,” he said. Grazia Laurendi, Ascend’s New Jersey regional director, called Jones “the ideal partner” for his market knowledge and advocacy record.

All in all, AWH’s debut showcases the real-world mechanics of A4151 in a state where equity licenses have lagged behind general ones. If it succeeds, expect a wave of similar pacts, channeling more private funds to underrepresented operators and steadying supply chains in a sector still struggling with federal constraints. Ascend’s measured approach here could serve as a blueprint, proving that targeted alliances yield returns for all sides without compromising the equity mandate.