AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) (“AYR” or the “Company”), a leading vertically integrated U.S. multi-state cannabis operator (“MSO”), today announced that it has entered an option agreement that provides AYR with the future ability to acquire 100% of the equity interests of Twice the Wellness, LLC, (“Twice the Wellness”) an entity provisionally licensed to operate a medical marijuana dispensary in Ohio. Terms of the agreement were not disclosed.
Twice the Wellness intends to open a dispensary in Woodmere, Ohio, a suburb of the Cleveland Metropolitan Area.
“AYR continues to focus on building a vertical presence in Ohio, a market where we have the ability to build considerable depth and market share,” said David Goubert, President and CEO of AYR. “We have begun to scale cultivation and production in the State with the opening of a 58,000 sq. ft. cultivation facility in Parma and have recently entered into agreements to acquire two dispensaries, pending regulatory approval, with Twice the Wellness set to become AYR’s third future location in Ohio. We look forward to operating these locations soon and scaling our business ahead of a potential conversion to adult-use sales.”
The Company previously entered into option agreements to acquire Daily Releaf, LLC (“Daily Releaf”) located in Riverside, Ohio, part of the Dayton Metropolitan Area, and Heaven Wellness, LLC (“Heaven Wellness”), located in Clermont County, part of the Greater Cincinnati area. The Company anticipates all three dispensaries to open by year end.
