News and research before you hear about it on CNBC and others. Claim your one week free trial for StreetInsider Premium here.
MIAMI, June 09, 2022 (GLOBE NEWSWIRE) — Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) (“Ayr” or the “Company”), a major vertically integrated U.S. multi-state cannabis operator, announced that the Massachusetts Cannabis Control Commission (“CCC” or the “Commission ”) granted a definitive license for the sale of cannabis for adult use to its AYR Watertown dispensary in Greater Boston. The CCC voted to grant the final license at its June 9, 2022 meeting.
“With our approval today to open our Watertown dispensary, Ayr will soon have two adult dispensaries serving Greater Boston, which has historically been underserved when it comes to adult cannabis access,” said Jonathan Sandelman, Founder, President and CEO of Ayr. “The upcoming openings of our Watertown and Back Bay locations represent a huge step forward for our business, and we couldn’t be more excited to introduce these communities to the unique, high-quality product offerings of ‘Ayr, with a customer experience that delivers the wonder of cannabis.
“Ayr looks forward to establishing himself as a force for good within Watertown, as we have done in Greater Boston over the past few years. Our team is committed to using our platform to implement positive change, and we look forward to further demonstrating this promise.”
Sira Naturals d/b/a AYR signed a Host Community Agreement (“HCA”) with the City of Watertown in October 2020. The company performed two additional HCAs in the Greater Boston Area in October and November 2020, respectively – one in Somerville, where the company operates a medical dispensary, and the other in Back Bay, where Ayr plans to open later this month. Ayr will continue to work closely with the CCC to progress toward final approval to begin adult use operations at all three sites.
Forward-looking statementsCertain information contained in this press release may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are often, but not always, identified by the use of words such as “target”, “expect”, “anticipate”, “believe”, “anticipate”, “could”, “would”, “estimate”, “goal”, “outlook”, “intend”, “plan”, “seek”, “will”, “may”, “follow”, “pace” and “should” and expressions or similar words suggesting future results. This press release contains forward-looking information and statements regarding, among other things, Ayr’s future growth plans. Numerous risks and uncertainties could cause actual events and results to differ materially from the estimates, beliefs and assumptions expressed or implied by the forward-looking statements, including, but not limited to: strategic, operational and competitive advantages expectations may not materialize; events or series of events, including in connection with COVID-19, may cause business interruptions; required regulatory approvals may not be obtained in a timely manner or at all; inflationary pressures can increase input costs; supply chain issues can hamper production and distribution; scientific research on cannabis is still in its infancy and is likely to evolve as new research is conducted; state laws may restrict or prevent interstate commerce of cannabis products; acquisitions may not be made on satisfactory terms or at all; and Ayr may not be able to raise necessary additional debt or equity. Among other things, Ayr has assumed that its business will operate as planned, that it will be able to complete acquisitions on reasonable terms and that all required regulatory approvals will be obtained on satisfactory terms and in a timely manner. Forward-looking estimates and assumptions involve known and unknown risks and uncertainties that may cause actual results to differ materially. Although Ayr believes that there is a reasonable basis for these assumptions, these estimates may not be met. These estimates represent forward-looking information. Actual results may vary and differ materially from estimates.
About Ayr Wellness Inc.Ayr is a growing, vertically integrated, multi-state U.S. cannabis operator. Based on the belief that it all starts with the quality of the plant, the company’s mission is to grow the finest quality cannabis at scale and deliver remarkable experiences to its customers every day.
Ayr’s leadership team brings proven expertise in growing successful businesses through disciplined operational and financial management, and is committed to making a positive impact for customers, employees and the communities they serve. . For more information, please visit www.ayrwellness.com.
Company/media contact:Robert VaniskoVP, Corporate CommunicationsEmail: [email protected]
Contact with Investor Relations:Sean Mansouri, CFA Elevate IRT: (720) 330-2829 Email: [email protected]
Source: Ayr Wellness Inc.