AYRSF - Ayr expands operations to fourth state with strategic acquisitions in Ohio

Ayr Strategies ([[AYRSF]] +0.4%) has added a cultivation and processing facilities in Ohio, expanding its presence to four key states.The transactions consideration is estimated to be $39M, including $26.9M of cash, $2.1M in stock and $10.0M in seller notes.Company also announced the addition of a grower-processor in Pennsylvania, deepening its presence in that market“These transactions and our expanded presence in four key cannabis markets places Ayr squarely among the top multi-state operators in the U.S., and enables us to generate significant value for our shareholders,” commented Jon Sandelman, Chairman and CEO.Furthermore, these transactions provide Ayr access to a population of ~35M people across four states. In total, the Company will have seven operating dispensaries, nine additional dispensary licenses, and ~160,000 ft2 of cultivation and processing space, with the ability to expand to over 460,000 ft2.

For further details see:

Ayr expands operations to fourth state with strategic acquisitions in Ohio