NEW YORK, 2021 July 20 (GLOBE NEWSWIRE) – Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) (“Widow” or “Company”), Vertically Integrated Cannabis Multinational State (MSO), has entered into a final agreement to acquire Herbal Remedies Dispensaries, LLC (“Herbal”), Illinois two licensed retail dispensary operators, adding an eighth state to its expanding national footprint.
“Today’s announcement is the next step in our goal of positioning Irene as a leading MSO with a strong presence in countries with significant revenue. Illinois will be the eighth state in our expanding footprint, which now numbers about 85 million people. The total cannabis market in Illinois is already estimated at $ 1.8 billion in annual sales, despite the start of adult use just 18 months ago. The team at Herbal Remedies has done a tremendous job at Quincy, building a fantastic business և strong reputation for excellent customer service և doing business, which is exactly what we at Ayr Wellness are looking for as a partner as we enter a new market. We look forward to working with the Herbal team as we continue to grow our presence in the Illinois market, ”said Jon Onathan Sandelman, President and CEO of Ayr Wellness.
Herbal Remedies was one of the first cannabis dispensaries to be licensed in Illinois when the state approved the use of medical cannabis in 2013. The use of “medical” and “leisure” is now allowed.
The man intends to buy a 100% stake in Herbal, a licensed dispensary operator in Queens, Illinois, the administrative seat of Adams County, the westernmost district of Illinois. Terms of the deal include $ 30 million. Takes into account $ 10 million in stock, $ 12 million in seller $ 12 million in cash. Based on current forecasts, the Company estimates that it is paying approximately 5x Herbal Remedies’ 2021 EBITDA. Herbal will add about 50 employees to Ayr.
Acquisition is subject to normal closing conditions և regulatory approvals. Herbal remedies will remain the same until closed. The acquisition is expected to close in the fourth quarter of 2021.
Certain information contained in this information may be prospective statements within the meaning of applicable securities laws. Forward-looking statements are often, but not always, characterized by the use of the words “goal”, “expect”, “predict”, “believe”, “predict”, “may”, “would like”, “evaluate”. , “Goal”, “perspective”, “intention”, “plan”, “search”, “will”, “can”, “follow”, “walk” և “should” իպ similar phrases or words that suggest are the future results? This news release contains prospective information և announcements that, among other things, relate to Ayr’s future growth plans. Numerous risks and uncertainties may result in the fact that actual events and outcomes differ significantly from, but are not limited to, the estimates, beliefs, or assumptions expressed or assumed in the prospective statements. Projected Strategic, Operational և Competitive Benefits Unable to implement events or series of events, including COVID-19, may cause business disruptions. Necessary regulatory approvals cannot be obtained. Acquisitions (including herbal remedies) may not be completed under sufficient conditions or at all or may not be successful. yr Ayr may not be able to raise additional debt or equity. Among other things, Ayr has assumed that its business will operate as expected, that it will be able to complete the acquisitions in a reasonable time, անհրաժեշտ all necessary regulatory approvals will be received in a timely manner և within the expected timeframe.
Estimates և assumptions involve known և unknown risks ություններ uncertainties that can lead to significant differences in actual results. Although Ayr believes that there is a reasonable basis for these assumptions, such estimates may not be consistent. These assessments provide prospective information. Actual results may differ significantly from estimates.
Ad adjusted EBITDA:
“J EBITDA” is a non-GAAP measure that does not have a standardized meaning նման may not be similar to how other companies use the term. It represents operating income (loss) as reported before interest և before tax, adjusted to exclude non-recurring items but non-cash items, including stock-based compensation costs, depreciation, amortization, and subsequently adjusted for acquisition costs. for ,
For the three months ended March 31, 2021, the conciliation in our PC of how Ayr calculates Regulated EBITDA.
About Man Wellness
Ayr is expanding into a vertically integrated, long-suffering US cannabis operator focused on providing the highest quality cannabis ի customer experience on its entire track. Based on the belief that everything starts with the quality of the plant, the Company focuses on high quality cultivation to grow high quality branded hemp products. The man tries to enrich the consumer experience every day with the miracle of cannabis health.
Ayr’s management team brings established experience in growing a successful business through disciplined operational and financial management, and is committed to making a positive impact on customers, employees, and the communities they care about. For more information, visit: www.ayrwellness.com:,
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