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 the New Jersey Cannabis Regulatory Commission (“CRC”) approved the Company for adult-use cannabis sales in the Garden State.
Ayr currently operates medical dispensaries in Woodbridge, Union, and Eatontown, all located in Central New Jersey, a region of 3.4 million people which until now only had access to two adult-use dispensaries. The Company’s three retail locations are the maximum allowable dispensaries under current state law.
“We are thrilled to be approved for adult-use sales in New Jersey and to have all three dispensaries cleared simultaneously to open for adult-use,” said Jonathan Sandelman, Founder, Chairman and CEO of Ayr. “To date, Central Jersey has the lowest number of dispensaries per capita, leaving its population under-served compared with the rest of the state. New Jersey is expected to become a highly influential state for the U.S. cannabis industry, and we are honored to help shape the market landscape from its early stages.”
“This is a significant milestone for Ayr, and I am so proud of our team for making it a reality,” said Julie Winter, Ayr’s Vice President of Retail Operations in New Jersey. “We look forward to opening our doors to adult-use customers, while continuing to provide excellent service, quality, and choice to our medical patients.”
Adult-use sales in New Jersey officially began five weeks ago. BDSA expects New Jersey to be the third largest contributor to overall US sales growth by 2026, projected to generate an annual revenue of $2.3 billion in total legal cannabis sales.