AYR WELLNESS INC - AYRWF STOCK NEWS

AYR Wellness Inc. reports financial results for Q1 2023. Revenue increased by 18% year-over-year to $117.7 million, and adjusted EBITDA increased by 64% year-over-year to $26.3 million. The company achieved positive operating cash flow for the third consecutive quarter and ended the quarter with a cash balance of $96.5 million.

AYR Wellness Inc. has reached an agreement to amend the earn-out payment terms for its acquisition of GSD NJ, LLC. The first $10 million portion will be paid in cash, the next $14 million portion will be satisfied by issuing promissory notes, and the remaining portion will be satisfied by issuing subordinate voting shares. The company has also amended the payment terms for its acquisition of Sira Naturals Inc., deferring a cash payment of $27.5 million until at least May 2026. AYR Wellness Inc. has engaged Moelis & Company LLC as its financial advisor to explore capital structure alternatives and is in discussions to amend the terms of promissory notes.

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.