AYR Cannabis Dispensary Strengthens Illinois Retail Presence With Opening Of Hometown Dispensary

Rhea-AI Summary

AYR Cannabis Dispensary, a subsidiary of AYR Wellness, has expanded its footprint in Illinois with the opening of its third retail location in the state and its 92nd nationwide. The new dispensary, located in Hometown, Illinois, near Chicago Midway International Airport, began serving adult-use consumers on June 25, 2024.

The Hometown dispensary spans approximately 4,200 square feet and features eight point-of-sale registers, ample parking, and is conveniently located near public transportation and popular local restaurants.

This expansion reflects AYR's commitment to enhancing the Illinois cannabis market and follows the recent rebranding of its Quincy dispensaries. AYR also plans to open another dispensary in Illinois later this summer.

Positive

• AYR Cannabis Dispensary opened its third location in Illinois and 92nd nationwide.
• The new dispensary is strategically located near Chicago Midway International Airport, enhancing accessibility.
• The retail space spans 4,200 square feet and features eight point-of-sale registers, ensuring efficient service.
• The opening follows the rebranding of AYR's Quincy dispensaries.
• AYR plans to open another location in Illinois later this summer.

Negative

• None.

MIAMI, June 26, 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 (“MSO”), today announced the opening of AYR Cannabis Dispensary Hometown, the Company’s third retail location in Illinois and 92^nd nationwide.

Located in a suburb of Chicago at 4140 SW Hwy, Hometown, IL 60456, AYR Cannabis Dispensary Hometown began serving adult-use consumers on June 25. The dispensary features a welcoming environment for customers with a retail floor of approximately 4,200 square feet.

"We're proud to continue our growth in Illinois with the opening of AYR Cannabis Dispensary Hometown, our third location in the state and 92^nd nationwide," said David Goubert, President and CEO of AYR. "This stunning new dispensary will offer AYR’s first-class service and experience to the cannabis community of Hometown, Illinois. We look forward to building fruitful, long-lasting relationships with new adult-use consumers and exploring future growth within the state."

Conveniently located near the Chicago Midway International Airport, AYR Cannabis Dispensary Hometown customers can enjoy a smooth and efficient shopping experience with eight point-of-sale registers and ample parking. For added convenience, AYR Hometown is situated less than one mile from the Ashburn Commuter Rail and just a 10-minute drive from Midway Airport. The surrounding area also offers a selection of Chicago restaurant favorites, including Portillo's and Giordano's within a close proximity. AYR’s friendly and knowledgeable staff, comprised of experienced industry budtenders with in-depth product knowledge of the dispensary’s product selection, are committed to assist customers in finding the perfect cannabis products for their needs.

The opening of AYR Cannabis Dispensary Hometown underscores the Company's unwavering commitment to providing first-rate retail experiences that elevate the Illinois cannabis market. AYR recently rebranded its two dispensaries in Quincy, Illinois, and expects to open an additional dispensary in the state later this summer. To learn more about AYR Wellness’s product offerings and discounts 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. 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. Among other things, AYR has assumed that its businesses will operate as anticipated, that it will be able to complete acquisitions on reasonable terms, and that all required regulatory approvals will be obtained on satisfactory terms and within expected time frames. 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 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.

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

When did AYR Cannabis Dispensary open its third location in Illinois?

AYR Cannabis Dispensary opened its third location in Illinois on June 25, 2024.

Where is the new AYR Cannabis Dispensary located in Illinois?

The new AYR Cannabis Dispensary is located at 4140 SW Hwy, Hometown, Illinois, near Chicago Midway International Airport.

How many dispensaries does AYR Cannabis Dispensary have nationwide?

AYR Cannabis Dispensary has 92 locations nationwide.

What features does the AYR Cannabis Dispensary Hometown offer?

The AYR Cannabis Dispensary Hometown features a 4,200 square foot retail floor, eight point-of-sale registers, ample parking, and is near local restaurants and public transportation.

What are AYR Cannabis Dispensary's future plans in Illinois?

AYR Cannabis Dispensary plans to open another location in Illinois later this summer.