AYR WELLNESS INC - AYRWF STOCK NEWS

AYR Wellness (OTCQX: AYRWF) has announced a partnership with the iconic Kowloon Restaurant to launch a edition LEVIA Kowloon Mai Tai THC-infused seltzer. The beverage, paying homage to Kowloon's famous Mai Tai cocktail, will be available starting June 1, 2024, at AYR dispensaries and other retailers in Greater Boston. To celebrate the launch, AYR will host an event on June 1 at its Watertown dispensary, where guests can sample non-infused versions of the beverage. Another event will follow on June 14 at Kowloon Restaurant. The collaboration aims to offer a unique cannabis beverage experience and cater to the growing demand for cannabis-infused drinks.

AYR Wellness reported its Q1 2024 financial results, showcasing a 3% quarter-over-quarter revenue growth to $118.0 million, excluding discontinued operations. The company's operating loss improved to $2.0 million, and adjusted EBITDA increased by over 10% year-over-year to $29.1 million with a 25% margin. AYR also generated free cash flow and anticipates maintaining this for the full fiscal year. Key highlights include the launch of kynd premium edibles, opening a new dispensary in Tallahassee, and restructuring $400 million in debt. The company projects flat to modest revenue growth for Q2 2024 and stronger growth in the latter half of the year, maintaining an adjusted EBITDA margin of approximately 25%.

AYR Wellness Inc. will hold a conference call on May 15, 2024, to discuss its first-quarter results. President & CEO David Goubert and CFO Brad Asher will host the call. The Company will release its financial results before the call.

AYR Wellness Inc. announces the launch of kynd's premium edibles in Florida and Nevada, featuring a variety of flavored, reliably dosed, vegan, and gluten-free options designed to enhance creativity and relaxation. The new offerings include UPLIFT, RELAX, BALANCE, SLEEP, and ENERGY gummies, catering to different preferences and needs. The company aims to expand its edibles line to more states, following a successful rebranding effort and charitable initiatives.

AYR Wellness Inc. upsizes its mortgage for Gainesville facility by $8.4 million to $48.4 million. The funds will be used for facility investments, Florida business expansion, and general working capital. The terms remain unchanged with a maturity date in 2033. CFO Brad Asher highlights the strengthening of the balance sheet and growth potential in Florida.

AYR Wellness Inc. reports a 10% increase in FY 2023 revenue to $463.6 million, with a 51% rise in Adjusted EBITDA to $114.0 million. The Company completed Plan of Arrangement Transactions, extending debt maturity by two years. AYR focuses on adult-use market expansion and product quality enhancement to drive sustainable growth.

AYR Wellness Inc. announces the opening of AYR Cannabis Dispensary Tallahassee, offering premium cannabis products and exclusive opening discounts.

AYR Wellness Inc., a leading U.S. multi-state cannabis operator, will discuss its Q4 and full year 2023 results in a conference call on March 13, 2024. President & CEO David Goubert and CFO Brad Asher will host the call, providing financial insights.

AYR Wellness Inc. has successfully completed its plan of arrangement transactions, extending the maturity of its Senior Notes and certain other debt by two years, retiring or extending nearly US$400 million in debt, and raising US$40 million in new capital. The company also expects to report Q4/23 and full year 2023 earnings results on March 13, 2024. Jared Cohen will be joining the board of directors, bringing over 20 years of investing experience.