Ayr Wellness to Begin Adult-Use Sales in its Three New Jersey Dispensaries

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 will begin serving adult-use customers at its three New Jersey dispensary locations on Wednesday, June 15, 2022.

Ayr’s adult-use dispensaries are in prime locations in the towns of Woodbridge, Union, and Eatontown, all within Central New Jersey, a region of 3.4 million people. Ayr’s adult-use stores represent 3 of 5 adult-use stores in this highly populated region.

“With the simultaneous opening of our three adult-use dispensaries, Ayr immediately has one of the largest adult-use retail footprints in the state of New Jersey. This marks a monumental step for our company,” said Jonathan Sandelman, Founder, Chairman and CEO of Ayr. “Adult-use cannabis sales in the state topped $24 million in the first month alone with only 12 dispensaries, according to the New Jersey Cannabis Regulatory Commission. As we bring expanded access and introduce Ayr’s portfolio of high-quality branded offerings, including Kynd flower and Origyn Extracts, to the currently under-served and densely populated Central New Jersey market, we expect adult-use cannabis sales to climb further from these initial levels, with Ayr being a significant contributor. Thank you to our teammates across Ayr who worked so hard to bring this milestone to fruition.”

“I want to thank the towns of Woodbridge, Union and Eatontown for being such great partners throughout this process. We are committed to being a great neighbor, and we appreciate the level of trust that these municipalities have placed in us,” said Julie Winter, Ayr’s Vice President of Retail Operations in New Jersey.

Ayr currently operates its New Jersey dispensaries under the Garden State Dispensary banner.

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.

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