AYR WELLNESS INC - AYRWF STOCK NEWS

AYR Wellness Inc (CSE: AYR.A, OTCQX: AYRWF), a prominent U.S. multi-state cannabis operator, is set to hold a conference call on May 16, 2023, at 8:30 a.m. ET to discuss its financial results for the first quarter ended March 31, 2023. The call will be led by President & CEO David Goubert and CFO Brad Asher, followed by a Q&A session. A press release with financial results will be issued prior to the call. Investors can join via toll-free or international dial-in numbers, and a replay will be available for one month post-call.

AYR emphasizes its commitment to cultivating high-quality cannabis and enhancing customer experiences. For more information, visit www.AYRwellness.com.

AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has opened two new retail cannabis stores in Florida, located in Winter Haven and Palatka. This expansion brings AYR's total to 59 retail locations in the state, reinforcing its growth strategy focused on markets with high potential. The Winter Haven store features 4,500 sq. ft. of space and a drive-thru, while the Palatka store is AYR’s first medical dispensary in Putnam County, measuring over 2,300 sq. ft. Both stores will offer AYR's range of national brands and include a specialized “bud bar.” As of April 7, 2023, Florida has more than 805,000 registered medical marijuana patients, supporting AYR's growth ambitions.

AYR Wellness Inc. has successfully completed its acquisition of Tahoe Hydroponics Company, a leading cannabis cultivator in Nevada. The acquisition, valued at $1.5 million in cash and 232,795 exchangeable shares, marks an important step in AYR's growth strategy. Since entering a management agreement in February 2022, operations have been integrated, enhancing AYR's market share in Nevada. The acquisition aims to bolster AYR's position in the cannabis industry as it continues to expand its footprint. The company is also waiting for the closing of a related deal with NV Green, which will involve additional exchangeable shares. AYR's leadership believes this acquisition will strengthen its business and operational capabilities.

AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) announced the resignation of Chief Operating Officer Jen Drake, effective immediately, as part of a mutual agreement. Drake, instrumental in AYR's growth since its inception in 2018, expressed pride in building the organization to its current size of 2,500 employees. AYR's CEO, David Goubert, acknowledged her contributions and the solid foundation she helped establish. The company continues to focus on its mission to deliver high-quality cannabis products while navigating potential future uncertainties, including regulatory challenges and market conditions.

AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has finalized a deal to sell Blue Camo, LLC, which encompasses its Arizona assets, to AZ Goat AZ, LLC. This transaction included three Oasis-branded dispensaries and two cultivation facilities. AYR received $20 million in cash and will also gain additional cash from net working capital within six months. The sale eliminated approximately $15 million in long-term lease obligations and cut AYR's long-term debt by $22.5 million. The CEO emphasized that this sale enhances their balance sheet and aligns with their business optimization strategy.

Ayr Wellness (OTCQX: AYRWF) announced the opening of four new retail stores in Florida, expanding its presence to a total of 57 locations in the state. The new stores are located in Lake Mary, Land O’ Lakes, Orlando, and Palmetto Bay, featuring over 14,500 sq. ft. of retail space. Ayr is committed to enhancing customer experience through initiatives like a 'bud bar' and convenient drive-thru services. As of March 17, 2023, Florida has over 800,000 registered medical marijuana patients, indicating strong market potential. Ayr aims to further increase its market share as it transitions to AYR Cannabis Dispensary.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) reported its financial results for Q4 and full year 2022, showcasing a revenue increase of 30.2%, reaching $465.6 million. The fourth quarter revenue was $124.6 million, an 11.5% rise year-over-year, with gross profit of $55.1 million, up 7.6%. Adjusted EBITDA for Q4 remained steady at $26 million, with a slight decline of 0.5% sequentially. Ayr's strategic evaluation led to cost-saving measures and market adjustments to optimize financial health. With a cash balance of $80.6 million and plans for future growth, Ayr anticipates consistent performance trends in Q1 2023.

Ayr Wellness Inc. announces a management transition with Jonathan Sandelman becoming Executive Chairman of the Board, and David Goubert appointed as President and CEO. This leadership change aims to enhance organizational efficiency and prepare for further growth in the cannabis industry. Sandelman has expressed confidence in Goubert's ability to lead the company, citing his previous experience and leadership skills. Ayr Wellness will host a conference call on March 9, 2023, to discuss Q4 and FY 2022 results, highlighting its ongoing commitment to quality cannabis cultivation and community impact.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has signed a Definitive Agreement to sell its Arizona assets, including three dispensaries and cultivation facilities, to AZ Goat, LLC for $20 million in cash.

This transaction will eliminate approximately $15 million in long-term lease liabilities and reduce Ayr's long-term debt by $22.5 million. The sale is expected to close in H1 2023, pending regulatory approvals. Ayr is also pursuing option agreements to acquire two medical marijuana dispensaries in Ohio, enhancing its market presence in the state.