AYR WELLNESS INC - AYRWF STOCK NEWS

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has announced the termination of its proposed acquisition of Gentle Ventures, LLC, known as Dispensary 33, which operates two retail dispensaries in Chicago, Illinois. The mutual decision comes as both parties acknowledged significant changes in the cannabis market since the agreement was made 15 months ago. Ayr will avoid the previously announced purchase consideration of $55 million, including $12 million in cash and $40 million in stock. Ayr's focus will now shift to optimizing its business and enhancing revenue and cash flow in key markets.

Ayr Wellness, a leading U.S. multi-state cannabis operator, has opened two new retail locations in Florida, one in Tarpon Springs and another in Orlando. The Tarpon Springs store occupies 3,470 sq. ft. and is strategically located in a residential area, while the Orlando location features 4,800 sq. ft. near major attractions. Ayr aims to build on its 2022 growth in Florida, where over 778,000 registered patients participated in the medical marijuana program, generating $2.4 billion in sales in 2022. Both stores will offer Ayr's national brands and a unique sensory experience with a 'bud bar.'

Ayr Wellness (CSE: AYR.A, OTCQX: AYRWF) announced its second annual '12 Days of Giving' campaign, running until December 16, 2022. The initiative aims to raise $100,000 through a $1.12 donation per transaction at Ayr-owned retail locations. Funds will support families affected by cannabis prohibition through partnerships with Freedom Grow and the Minorities for Medical Marijuana Project Clean Slate initiative. This campaign is part of Ayr’s commitment to social responsibility and advocacy for those impacted by drug-related offenses.

Ayr Wellness, a leading multi-state cannabis operator, has rebranded its three New Jersey retail locations, previously known as Garden State Dispensary, to AYR dispensaries. Since acquiring the dispensary in September 2021, the company has improved product offerings and launched adult-use sales in 2022. The New Jersey stores, located in Woodbridge, Union, and Eatontown, serve a population of 3.4 million. The company aims to enhance customer relationships while expanding its footprint, with plans to transition Florida stores by Spring 2023. New Jersey is projected to generate $2.3 billion in cannabis sales by 2026.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has launched adult-use cannabis sales at its Somerville, MA retail location, complementing its existing medical cannabis offerings. This dispensary is strategically located in a densely populated area, enhancing accessibility for consumers. The company aims to expand its market presence while maintaining a commitment to community service and social justice initiatives. Ayr's CEO expressed enthusiasm for serving both medical and recreational users, reaffirming the company’s commitment to positive community impact.

Ayr Wellness reported a 24% year-over-year revenue increase to $119.6 million for Q3 2022, alongside a 10% sequential rise in adjusted EBITDA to $21.7 million. The operating loss improved by 17% sequentially. Ayr expanded its retail presence, opening new dispensaries in Massachusetts and Florida, and launched several new products. Management expressed confidence in future growth, highlighting plans for further acquisitions and new store openings in 2023. The company maintains a cash balance of $100.8 million as of September 30, 2022.

Ayr Wellness conducted a survey revealing that 70% of cannabis consumers plan to purchase enough cannabis for sharing during the holidays. Despite rising inflation, 24% of respondents expect to spend $100 or more on cannabis for Thanksgiving. The survey, which included over 1,600 Americans, shows a rising trend in cannabis consumption, with 90% planning to buy the same amount or more than usual. Additionally, 65% of respondents indicated they would choose cannabis over alcohol during celebrations.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has opened two new retail marijuana stores in Florida, located in Daytona Beach and Lake Worth, bringing its total to 52 outlets statewide. This expansion follows the acquisition of Liberty Health Sciences in 2021 and aims to serve over 761,000 qualified cannabis patients in Florida. Ayr is also introducing LEVIA water-soluble cannabis tinctures to its product offerings, which feature high bioavailability and fast-acting effects, available in various formulations with 300 mg of THC per bottle.

Ayr Wellness announced its expansion into the New Jersey cannabis market by introducing several brands from its national portfolio. The brands now available include premium whole flowers like Lost in Translation and Kynd, along with various vape cartridges and lozenges. Most products are accessible to both medical patients and adult-use consumers, with some to be introduced shortly. The rollout follows Ayr's acquisition of Garden State Dispensary and aims to enhance the cannabis experience for consumers in New Jersey.