AYR Cannabis Dispensary Expands Retail Footprint in Florida with Two New Dispensaries

Rhea-AI Summary

AYR Cannabis Dispensary, owned by AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF), has announced the expansion of its retail footprint in Florida. The company opened a new store in Jacksonville on August 22, 2024, and plans to open another in Palm Beach Gardens in early September 2024. These additions will bring AYR's total retail presence to 66 locations in Florida and 96 nationwide.

The Jacksonville-Dunn store is a 2,808-square-foot facility with drive-thru service, while the Palm Beach Gardens location will be a 3,638-square-foot storefront near Gardens Mall. Both dispensaries will offer premium products and quality service to medical patients, featuring modern designs and dedicated team members to ensure a comfortable shopping experience.

Positive

• Expansion of retail presence to 66 locations in Florida
• Increase in nationwide store count to 96 locations
• Addition of drive-thru service at Jacksonville-Dunn location
• Strategic placement of new stores in high-traffic areas

Negative

• None.

MIAMI, Aug. 23, 2024 (GLOBE NEWSWIRE) -- AYR Cannabis Dispensary, a cannabis retail chain owned by AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) (“AYR” or the “Company”), a leading vertically integrated U.S. multi-state cannabis operator, today announced the opening of a retail store located in Jacksonville, Florida and the anticipated opening of a retail store in Palm Beach Gardens, Florida. The openings of the Jacksonville-Dunn and Palm Beach Gardens stores will expand the Company’s retail presence to 66 locations in the state of Florida, and 96 locations nationwide. AYR Cannabis Dispensary Jacksonville-Dunn opened as of Thursday, August 22, 2024, and AYR Cannabis Dispensary Palm Beach Gardens is expected to open in early September 2024.

AYR Cannabis Dispensary Jacksonville-Dunn, located at 1319 Dunn Avenue, Jacksonville, Florida 32218, is a 2,808-square-foot retail storefront with ample parking space, five point-of-sale stations, and drive-thru service. AYR Cannabis Dispensary Palm Beach Gardens, located at 12300 Alternate A1A, Ste #117-120, Palm Beach Gardens, Florida 33410, is a 3,638 square-foot storefront venue conveniently located in the heart of scenic Palm Beach Gardens, near Gardens Mall and the PGA Business Corridor.

Both locations will offer the quality service and premium products that have enhanced the wellness of patients statewide, with a fresh, vibrant look. Inside each new and modern storefront, AYR’s dedicated team members are eager to facilitate an elevated, convenient, and comfortable shopping experience that patients deserve.

“We are proud to expand our ability to serve medical patients in these key areas of Florida,” said Sevi Borrelli, SVP, General Manager, Florida at AYR. “With soon to be 66 locations statewide, we continue to elevate our presence, making the AYR dispensary brand ubiquitous to patients throughout the state of Florida. We will continuously look for new ways to enhance the wellness of patients throughout the Sunshine State as we open our doors to new faces.”

To learn more about AYR or to locate your nearest dispensary, 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, AYR’s future growth plans, the operations of the Company’s stores in Florida and the anticipated timing for the opening of AYR Cannabis Dispensary Palm Beach Gardens . 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: anticipated strategic, operational and competitive benefits may not be realized; events or series of events, including in connection with COVID-19, may cause business interruptions; required regulatory approvals may not be obtained in a timely manner or at all; inflationary pressures may increase input costs; supply chain issues may hamper production and distribution; scientific research regarding cannabis is still in its early stages and is subject to change as further research is completed; state laws may restrict or prevent inter-state commerce in cannabis products; acquisitions may not be able to be completed on satisfactory terms or at all; and AYR may not be able to raise needed additional debt or equity capital. Forward-looking estimates and assumptions involve known and unknown risks and uncertainties that may cause actual results to differ materially. While AYR believes there is a reasonable basis for these assumptions, such estimates may not be met. These estimates represent forward-looking information. Actual results may vary and differ materially from the estimates.

About AYR Wellness Inc.
AYR Wellness is a vertically integrated, U.S. multi-state cannabis business. The Company operates simultaneously as a retailer with licensed dispensaries across eight U.S. states, 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

Company Contact:
Jon DeCourcey
Head of Investor Relations
T: (786) 885-0397
Email: ir@ayrwellness.com

Investor Relations Contact:
Sean Mansouri, CFA
Elevate IR
T: (786) 885-0397
Email: IR@AYRwellness.com

FAQ

How many new dispensaries is AYR Cannabis opening in Florida in August-September 2024?

AYR Cannabis is opening two new dispensaries in Florida: one in Jacksonville on August 22, 2024, and another in Palm Beach Gardens expected to open in early September 2024.

What will be AYR's total number of dispensaries in Florida after these openings?

After the openings of the Jacksonville and Palm Beach Gardens locations, AYR Cannabis Dispensary will have 66 locations in Florida.

What unique features does the new AYR Cannabis Dispensary in Jacksonville-Dunn offer?

The Jacksonville-Dunn location offers drive-thru service, five point-of-sale stations, and ample parking space in a 2,808-square-foot retail storefront.

Where is the new AYR Cannabis Dispensary located in Palm Beach Gardens?

The new AYR Cannabis Dispensary in Palm Beach Gardens is located at 12300 Alternate A1A, Ste #117-120, near Gardens Mall and the PGA Business Corridor.

What is the stock symbol for AYR Wellness Inc. on the OTCQX market?

The stock symbol for AYR Wellness Inc. on the OTCQX market is AYRWF.