Amethyst Health, a Partnership Between Black Star Wellness and AYR Wellness, Conditionally Awarded Vertically Integrated Medical License in New York
AYR Wellness (OTCQX: AYRWF) announced that Amethyst Health, a partnership between Black Star Wellness and AYR, has been conditionally awarded a vertically integrated medical cannabis 'Registered Organization' license in New York State. Black Star Wellness is the majority owner of Amethyst Health, while AYR serves as an operational partner and minority owner. The company's Interim CEO Steven M. Cohen expressed enthusiasm about entering New York's growing cannabis market and committed to working with state regulators and Black Star Wellness to complete final requirements.
AYR Wellness (OTCQX: AYRWF) ha annunciato che Amethyst Health, una partnership tra Black Star Wellness e AYR, ha ricevuto in modo condizionale una licenza di 'Organizzazione Registrata' per la cannabis medica integrata verticalmente nello Stato di New York. Black Star Wellness è il socio di maggioranza di Amethyst Health, mentre AYR funge da partner operativo e socio di minoranza. L'Amministratore Delegato ad interim Steven M. Cohen ha espresso entusiasmo per l'ingresso nel crescente mercato della cannabis di New York e si è impegnato a collaborare con i regolatori statali e Black Star Wellness per completare i requisiti finali.
AYR Wellness (OTCQX: AYRWF) anunció que Amethyst Health, una asociación entre Black Star Wellness y AYR, ha sido otorgada condicionalmente una licencia de 'Organización Registrada' para el cannabis medicinal integrado verticalmente en el Estado de Nueva York. Black Star Wellness es el propietario mayoritario de Amethyst Health, mientras que AYR actúa como socio operativo y propietario minoritario. El CEO interino Steven M. Cohen expresó su entusiasmo por entrar en el creciente mercado de cannabis de Nueva York y se comprometió a trabajar con los reguladores estatales y Black Star Wellness para completar los requisitos finales.
AYR Wellness (OTCQX: AYRWF)는 Amethyst Health, Black Star Wellness와 AYR 간의 파트너십이 뉴욕주에서 수직적으로 통합된 의료용 대마 '등록 조직' 라이센스를 조건부로 수여받았다고 발표했습니다. Black Star Wellness는 Amethyst Health의 대주주이며, AYR는 운영 파트너이자 소수 주주로 활동하고 있습니다. 임시 CEO인 Steven M. Cohen은 뉴욕의 성장하는 대마 시장에 진출하게 된 데 대해 열정을 표명하며, 주 규제 기관 및 Black Star Wellness와 협력하여 최종 요구 사항을 완료하겠다고 다짐했습니다.
AYR Wellness (OTCQX: AYRWF) a annoncé que Amethyst Health, un partenariat entre Black Star Wellness et AYR, a obtenu de manière conditionnelle une licence d'‘Organisation Enregistrée’ pour le cannabis médical intégré verticalement dans l'État de New York. Black Star Wellness est le propriétaire majoritaire d'Amethyst Health, tandis qu'AYR agit en tant que partenaire opérationnel et propriétaire minoritaire. Le PDG par intérim Steven M. Cohen a exprimé son enthousiasme à l'idée d'entrer sur le marché en croissance du cannabis à New York et s'est engagé à travailler avec les régulateurs d'État et Black Star Wellness pour compléter les exigences finales.
AYR Wellness (OTCQX: AYRWF) gab bekannt, dass Amethyst Health, eine Partnerschaft zwischen Black Star Wellness und AYR, bedingt eine vertikal integrierte medizinische Cannabis-'Registrierte Organisation'-Lizenz im Bundesstaat New York erhalten hat. Black Star Wellness ist der Mehrheitseigentümer von Amethyst Health, während AYR als operativer Partner und Minderheitseigentümer fungiert. Der Interims-CEO Steven M. Cohen äußerte seine Begeisterung über den Einstieg in den wachsenden Cannabismarkt in New York und verpflichtete sich, mit den staatlichen Regulierungsbehörden und Black Star Wellness zusammenzuarbeiten, um die finalen Anforderungen zu erfüllen.
- Secured conditional approval for vertically integrated medical cannabis license in New York
- Strategic entry into New York's expanding cannabis market
- Partnership structure reduces capital requirements while maintaining market presence
- Minority ownership position limits control and profit potential
- Conditional approval requires additional regulatory steps before operations can begin
MIAMI, Nov. 12, 2024 (GLOBE NEWSWIRE) -- AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) (“AYR” or the “Company”), a leading vertically integrated U.S. multi-state cannabis operator, announced that Amethyst Health, LLC (“Amethyst Health”), has been conditionally awarded a vertically integrated medical cannabis “Registered Organization” license by New York State, at today’s meeting of the New York Cannabis Control Board.
Black Star Wellness, LLC, is the majority owner of Amethyst Health. AYR is an operational partner and minority owner of the Amethyst Health.
"We are pleased by today’s news that, alongside our partners with Black Star Wellness, we have been conditionally awarded the opportunity to enter New York and are excited by the prospect of New York’s growing cannabis market,” said AYR Interim CEO Steven M. Cohen. “We will work closely with state regulators and our partners at Black Star Wellness to complete the final requirements and begin serving the New York community.”
To learn more about AYR Wellness, please visit www.AYRwellness.com.
Forward-Looking Statements
Certain information contained in this news release may be forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are often, but not always, identified by the use of words such as “target”, “expect”, “anticipate”, “believe”, “foresee”, “could”, “would”, “estimate”, “goal”, “outlook”, “intend”, “plan”, “seek”, “will”, “may”, “tracking”, “pacing” and “should” and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to, among other things, the conditional license awarded to Amethyst Health. Numerous risks and uncertainties could cause the actual events and results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements, including, but not limited to, the conditions required to obtain the proposed license not being satisfied. Forward-looking estimates and assumptions involve known and unknown risks and uncertainties that may cause actual results to differ materially.
About AYR Wellness Inc.
AYR Wellness is a vertically integrated, U.S. multi-state cannabis business. The Company operates simultaneously as a retailer with 90+ licensed dispensaries and a house of cannabis CPG brands.
AYR is committed to delivering high-quality cannabis products to its patients and customers while acting as a Force for Good for its team members and the communities that the Company serves. For more information, please visit www.ayrwellness.com.
Company/Media Contact:
Robert Vanisko
VP, Public Engagement
T: (786) 885-0397
Email: comms@ayrwellness.com
Investor Relations Contact:
Sean Mansouri, CFA
Elevate IR
T: (786) 885-0397
Email: IR@AYRwellness.com
FAQ
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