AYR Wellness Secures Conditional Approval to Establish Vertical Medical Cannabis Operations in Virginia
AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has secured conditional approval from the Virginia Cannabis Control Authority to operate as a pharmaceutical processor in Virginia's Health Service Area 1 (HSA 1). This area includes cities like Charlottesville and Fredericksburg, serving a population of approximately 1.5 million people.
The approval marks a significant step for AYR in expanding its medical cannabis operations into Virginia, a market that has previously lacked access to medical cannabis. David Goubert, President & CEO of AYR, expressed pride in this opportunity, viewing it as a reflection of the company's efforts to build a sustainable business and expand its footprint in the U.S. cannabis market.
AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) ha ottenuto l'approvazione condizionata dall'Autorità di Controllo dei Cannabis della Virginia per operare come processore farmaceutico nell'Area di Servizio Sanitario 1 (HSA 1) della Virginia. Questa area comprende città come Charlottesville e Fredericksburg, servendo una popolazione di circa 1,5 milioni di persone.
L'approvazione segna un passo significativo per AYR nell'
AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) ha obtenido la aprobación condicional de la Autoridad de Control de Cannabis de Virginia para operar como procesador farmacéutico en el Área de Servicio de Salud 1 (HSA 1) de Virginia. Esta área incluye ciudades como Charlottesville y Fredericksburg, sirviendo a una población de aproximadamente 1.5 millones de personas.
La aprobación marca un paso significativo para AYR en la expansión de sus operaciones de cannabis medicinal en Virginia, un mercado que previamente ha carecido de acceso al cannabis medicinal. David Goubert, presidente y CEO de AYR, expresó su orgullo por esta oportunidad, viéndola como un reflejo del esfuerzo de la empresa por construir un negocio sostenible y expandir su presencia en el mercado de cannabis en EE. UU.
AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF)는 버지니아의 건강 서비스 지역 1(HSA 1)에서 의약품 가공업체로 운영할 수 있는 조건부 승인을 버지니아 대마초 관리 당국으로부터 받았습니다. 이 지역은 샤르롯츠빌과 프레dericksburg와 같은 도시를 포함하며, 약 150만 명의 인구를 서비스하고 있습니다.
이번 승인은 AYR가 버지니아에서 의료용 대마초 운영을 확장하는 데 있어 중요한 이정표입니다. 버지니아는 이전에 의료용 대마초 접근이 부족했던 시장입니다. AYR의 사장 겸 CEO인 David Goubert는 이 기회를 자랑스럽게 생각하며, 이를 회사가 지속 가능한 비즈니스를 구축하고 미국 대마초 시장에서 입지를 확장하려는 노력의 반영으로 보고 있습니다.
AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) a obtenu l'approbation conditionnelle de l'Autorité de contrôle du cannabis de Virginie pour opérer en tant que transformateur pharmaceutique dans la zone de service de santé 1 (HSA 1) de la Virginie. Cette zone comprend des villes comme Charlottesville et Fredericksburg, desservant une population d'environ 1,5 million de personnes.
Cette approbation marque une étape significative pour AYR dans l'expansion de ses opérations de cannabis médical en Virginie, un marché qui auparavant manquait d'accès au cannabis médical. David Goubert, Président et CEO d'AYR, a exprimé sa fierté pour cette opportunité, la voyant comme un reflet des efforts de l'entreprise pour construire une entreprise durable et étendre son empreinte sur le marché du cannabis aux États-Unis.
AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) hat von der Virginia Cannabis Control Authority eine bedingte Genehmigung erhalten, um als pharmazeutischer Verarbeiter im Gesundheitsdienstbereich 1 (HSA 1) von Virginia zu operieren. Dieses Gebiet umfasst Städte wie Charlottesville und Fredericksburg und bedient eine Bevölkerung von etwa 1,5 Millionen Menschen.
Die Genehmigung stellt einen bedeutenden Schritt für AYR dar, um seine medizinischen Cannabisoperationen in Virginia auszubauen, einem Markt, der zuvor keinen Zugang zu medizinischem Cannabis hatte. David Goubert, Präsident und CEO von AYR, äußerte Stolz über diese Gelegenheit und betrachtete sie als Spiegelbild der Bemühungen des Unternehmens, ein nachhaltiges Geschäft aufzubauen und seine Präsenz auf dem US-Cannabismarkt auszubauen.
- Secured conditional approval to operate as a pharmaceutical processor in Virginia's HSA 1
- Expansion into a new market with a population of approximately 1.5 million people
- Potential for increased revenue and market share in the medical cannabis sector
- None.
MIAMI, Sept. 05, 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, today announced that it was awarded conditional approval to serve as a pharmaceutical processor by the Virginia Cannabis Control Authority (“CCA”) for Virginia’s Health Service Area 1 (“HSA 1”). HSA 1 encompasses various cities and counties in Virginia, including Charlottesville, Fredericksburg, Spotsylvania, and Stafford.
“We’re proud to have earned the opportunity to serve patients in Virginia, particularly in a region of ~1.5 million people that has lacked access to medical cannabis for some time,” said David Goubert, President & CEO of AYR. “This is an exciting moment for AYR, reflective of our continued efforts towards building our business to generate sustainable forward-looking growth.”
Upon receipt of the pharmaceutical processing permit, the Company will be permitted to cultivate and process cannabis, manufacture cannabis products, and perform sales to qualified medical cannabis patients in Virginia. The Company must meet any conditional commitments within one year to obtain a full pharmaceutical processor permit.
To learn more about AYR Wellness 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 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
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
What approval did AYR Wellness (AYRWF) receive in Virginia on September 5, 2024?
Which areas are included in Virginia's Health Service Area 1 where AYRWF will operate?
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