Ayr Wellness Inc. (CSE: AYR.A, OTC: AYRWF) (“Ayr” or the “Company”), a leading vertically integrated cannabis multi-state operator, is pleased to announce that its 12.5% Senior Secured Notes (the “Notes”) will begin trading on the CSE, effective April 21, 2021 under the ticker symbol “AYR.NT.U”
The Senior Notes:
Ayr issued US$110 million Notes in an oversubscribed private placement led by Canaccord Genuity Corp. in December 2020. Listing on the CSE follows the expiry of the four-month holding period under Canadian Securities Laws. The Notes pay interest of 12.5% per annum (semi-annually) and mature on December 10, 2024.
The Notes contain certain covenants and restrictions on Ayr’s business, including restrictions on the incurrence of debt, asset sales and dividends and other distributions. The Notes are secured by a first-priority security interest in specified assets of Ayr and certain of its subsidiaries. Detailed information on the Notes can be found in the trust indenture filed on SEDAR.
