AYR WELLNESS INC - AYRWF STOCK NEWS

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) announced the launch of its premium live resin concentrates and vapes brand HAZE in Florida, following the achievement of 50 retail stores in the state. HAZE aims to offer quality products at various price points, including vape cartridges and live badder with multiple strains. Post-Hurricane Ian, 47 of 51 stores are open, and efforts are underway to reopen additional locations. Ayr reported no damage to its Gainesville cultivation facility, ensuring operations remain on schedule.

Ayr Wellness Inc (CSE: AYR.A, OTCQX: AYRWF) will host a conference call on November 10, 2022, at 8:30 a.m. ET to discuss its Q3 results for the period ending September 30, 2022. The call will feature CEO Jonathan Sandelman, Co-COO Jennifer Drake, and CFO Brad Asher, followed by a Q&A session. Interested stakeholders can join via toll-free and international dial-in numbers or by accessing a webcast. A replay will be available for one month post-call. Ayr is a leading U.S. multi-state cannabis operator focused on quality cultivation and customer experience.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has launched its award-winning cannabis brand, Lost in Translation (LIT), in four new states: Arizona, Florida, New Jersey, and Pennsylvania, bringing its presence to six states total. Originally created by Tahoe Hydroponics, LIT is known for its exceptional strains like Bubble Bath and WAP. Ayr’s commitment to quality cannabis and diverse product offerings aims to meet varying consumer needs. The brand now available in Ayr’s dispensaries will cater to cannabis connoisseurs while enhancing Ayr’s strategic portfolio.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has secured a provisional cultivator license in Connecticut through its partnership with Connecticut Cultivation Solutions, co-owned by city council member Tiana Hercules. This collaboration aims to support communities affected by cannabis prohibition, featuring social justice initiatives such as the Bridge to Morehouse Program. The partnership emphasizes Ayr's commitment to social equity within the cannabis industry, with plans to expand cultivation and retail operations in the state.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) announces the opening of its relocated dispensary in Dania Beach, FL, enhancing patient experience. The new store, over 2,000 sq. ft., offers an expanded product menu, including Kynd premium flower and Entourage vapes. Following its acquisition of Liberty Health Sciences in 2021, Ayr's retail locations in Florida have grown by over 60%, with a current employee count exceeding 745. Florida's medical marijuana program has over 745,000 enrolled patients, with projected market growth from $1.8 billion in 2021 to $3.4 billion by 2026.

Ayr Wellness reported its Q2 2022 financial results, showcasing revenues of $110.1 million, a 20.6% increase year-over-year. However, gross profit decreased by 11.5% to $40.3 million. Operating loss remained steady at $(24.8) million, while Adjusted EBITDA was $19.6 million, a decrease of 28.5% from the previous year. Ayr plans on optimizing its operations for future growth despite facing economic challenges. The company ended the quarter with a robust cash position of $116.7 million and anticipates a sequential revenue growth of approximately 10% in Q3 2022.

Ayr Wellness (CSE: AYR.A, OTCQX: AYRWF) has launched LEVIA-branded water-soluble tinctures in Nevada and Arizona, expanding its cannabis-infused beverage brand outsideMassachusetts. This significant milestone includes three offerings: Dream (indica), Celebrate (hybrid), and Achieve (sativa), each with 300 mg of THC per bottle. The tinctures are designed for fast-acting effects and flexible dosing, reflecting growing consumer interest in cannabis beverages. Ayr plans to introduce more LEVIA products to additional markets through 2023.

On August 11, 2022, Ayr Wellness (OTCQX: AYRWF) received a final license from the Massachusetts Cannabis Control Commission for adult-use cannabis at its Sira Naturals dispensary in Somerville. Ayr also gained approval to begin the first phase of its cultivation expansion in Milford. This follows the opening of two new adult-use dispensaries in Boston this summer. Massachusetts is the 7th largest legal cannabis market in the U.S., with revenues expected to reach $2.3 billion annually by 2026.