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 Company has entered into an Interim Management Services Agreement (“MSA”) with Tahoe Hydroponics Company, LLC (“Tahoe Hydro”), one of Nevada’s top cultivators of high-quality cannabis flower, and NV Green, Inc. (“NV Green”), producers of leading concentrates, pursuant to the previously announced Definitive Agreement signed in July 2021.
On January 25, the Nevada Cannabis Control Board (“CCB”) approved the relationship of Tahoe Hydro, NV Green, and Ayr’s subsidiary under the MSA, which includes provisions for exclusive access to a robust and innovative bank of existing and future cannabis genetics from Lost in Translation LLC (“Lost in Translation” or “LIT”) and exclusive access to the LIT brand, one of the top selling flower brands in Nevada, according to BDSA, via licensing agreement.
“Tahoe Hydro provides us with access to some of the highest-quality cannabis on the market, and our goal is to use this transaction to infuse our entire organization with some of the world’s premier cultivation talent and genetics,” said Jonathan Sandelman, Founder, Chairman and CEO of Ayr Wellness. “We have an immense respect for the art and science that is growing high-quality flower and believe that access to Tahoe Hydro’s talented team and evolving library of genetics will be important in expanding our ability to offer unique, excellent flower to our customers at scale throughout our organization.”
Following the approval of the relationship under the MSA, Ayr will now begin leveraging the high quality and highly respected Tahoe and LIT cannabis brands throughout Nevada, including in increasing the brands’ presence in Ayr’s leading Nevada retail footprint.
The Company also intends to utilize the strong presence and relationships developed by Tahoe Hydro and LIT to deepen its wholesale penetration throughout the state.