Ayr Wellness Inc. (CSE: AYR.A, OTC: AYRWF) (“Ayr” or the “Company”), a leading vertically integrated cannabis multi-state operator, announced today that the Massachusetts Cannabis Control Commission (“CCC” or the “Commission”) has granted its local partner Sira Naturals (“Sira”) a provisional license for the sale of adult-use cannabis at its Boylston Street location in Boston. The CCC voted to grant the provisional license at its monthly meeting earlier today. The provisional license allows for the continued development and construction of the dispensary and marks a significant milestone toward the opening of Ayr’s first adult-use store in the Greater Boston area.
Ayr’s flagship adult-use dispensary in Boston is located at 829 Boylston Street, in the heart of Boston’s Back Bay. The planned 4,500 ft² store is located next to the Apple Store and across from the Prudential Center, well-positioned for pedestrian traffic and easy access to the city’s public transit. The neighborhood is a popular residential community, as well as one of New England’s preeminent destinations for shopping and dining.
Jonathan Sandelman, CEO of Ayr, said, “Despite being home to 60% of the state’s population, the Greater Boston Area has been underserved in access to adult-use cannabis. As cultivators of wellness and creators of wonder, we are excited to help change that and bring more of our high-quality cannabis offerings to the City of Boston.”
The proposed Boston dispensary executed a Host Community Agreement (“HCA”) with the City of Boston’s Cannabis Board on November 16, 2020. The Company executed two additional HCAs in the Greater Boston area, one in Watertown on October 20, 2020, and a second in Somerville, where the Company currently operates a medical dispensary, on October 9, 2020. Ayr will continue to work closely with the CCC to move toward final approval to commence adult-use operations in all three locations.
The CCC’s monthly meeting also included renewals of Sira’s three Media Marijuana Treatment Center (“MTC”) licenses, each of which covers cultivation, product manufacturing, and retail for medical marijuana. The renewed licenses were related to Sira’s Somerville, Watertown and Needham dispensary locations. Additionally, the Commission addressed a settlement between Sira and the Commission, related to wholesale transportation activities during the challenging reopening of the Massachusetts adult-use market in 2020 following the COVID-19 shutdown. While no violation has been admitted, the Company thanks the Commission for its efforts and dialogue over the intervening period and appreciates the important clarifications that the settlement provides.
