MIAMI, March 26, 2024 (GLOBE NEWSWIRE) — AYR Wellness Co., Ltd. (CSE: AYR.A, OTCQX: AYRWF) (“AYR” or the “Company”), a leading multi-state vertically integrated cannabis operator (“MSO”) in the United States, today announced an $8.4 million We announced that we have completed the expansion. He repaid the existing mortgage on his Gainesville cultivation facility (the “Facility”) and increased the principal amount of the mortgage to $48.4 million.
Proceeds will be used for further investment in the facility and the Company’s Florida operations and for general working capital purposes. Other than the increase in size, there were no changes to the terms of the mortgage, including interest rates and the 2033 maturity date.
“This expansion further strengthens our balance sheet with competitive interest rates and additional capital at long maturities,” said Brad Asher, Chief Financial Officer of AYR Wellness. . We believe the growth opportunity in Florida is greater than any other market in the country, given Florida’s population, tourism, and potential for conversion to adult-use sales in the coming years. ”
Forward-looking statements
Certain information contained in this news release may be forward-looking statements within the meaning of applicable securities laws. Forward-looking statements often, but not always, include terms such as “targets,” “expects,” “expects,” “believes,” “predicts,” “may,” and “are.” Identified by the use of words such as ‘deaf’ and ‘estimate’. , “goal,” “forecast,” “intent,” “plan,” “seek,” “will,” “may,” “track,” “pace,” “should,” and future results. Similar expressions or words that suggest. This news release contains forward-looking information and statements regarding, among other things, his future growth plans for AYR. A number of risks and uncertainties could cause actual events or results to differ materially from the estimates, beliefs and assumptions expressed or implied by the forward-looking statements. This includes, but is not limited to: An event or series of events, including those related to COVID-19, may result in business interruptions. We may not be able to obtain necessary regulatory approvals on a timely basis or at all. Inflationary pressures may increase input costs. Supply chain issues can hinder production and distribution. Scientific research on cannabis is still in its early stages and is subject to change as further research is completed. State laws may restrict or prohibit interstate trade in cannabis products. We may not be able to complete the acquisition on satisfactory terms or at all. Additionally, AYR may be unable to raise the necessary additional debt or equity capital. Among other things, AYR is confident that its business will operate as expected, that it will be able to complete the acquisition on reasonable terms and that all necessary regulatory approvals will be obtained on satisfactory terms and within the expected time period. It is assumed that Forward-looking expectations and assumptions involve known and unknown risks and uncertainties that could cause actual results to differ materially. Although AYR believes there is a reasonable basis for these assumptions, such presumptions may not be satisfied. These estimates represent forward-looking information. Actual results may vary and may differ materially from estimates.
About AYR Wellness Co., Ltd.
AYR is a vertically integrated U.S. multi-state cannabis business. We simultaneously operate as a retailer with over 90 licensed dispensaries and cannabis CPG brands.
AYR is committed to providing quality cannabis products to our patients and customers, while serving as a force for good for our team members and the communities we serve. Learn more about. www.ayrwellness.com.
Corporate/Media Contact:
Robert Vanisco
Vice President of Public Relations
Phone: (786) 885-0397
Email: comms@ayrwellness.com
Company contact:
john decocy
Head of Investor Relations
Phone: (786) 885-0397
Email: ir@ayrwellness.com
Investor Information Contact:
Sean Mansouri, CFA
Increase IR
Phone: (786) 885-0397
Email: ir@ayrwellness.com
