6-K
Ayr Wellness Inc. (AYRWF)
UNITED STATESSECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TORULE 13a-16 OR 15d-16UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April, 2024.
Commission File Number: 333-253466
Ayr WellnessInc.
(Exact Name of Registrant as Specified in Charter)
2601 South Bayshore Drive, Suite 900, Miami,FL, 33133
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ¨ Form 40-F x
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| AYR WELLNESS INC. | ||
|---|---|---|
| (Registrant) | ||
| Date: April 1, 2024 | By: | /s/ Brad Asher |
| Name: | Brad Asher | |
| Title: | Chief Financial Officer |
EXHIBIT INDEX
| 99.1 | News Release dated March 26, 2024 |
|---|---|
| 99.2 | News Release dated March 27, 2024 |
Exhibit 99.1
AYR Wellness Announces Upsizing of GainesvilleCultivation Facility Mortgage
MIAMI,March 26, 2024 -- 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 has closed on a $8.4 million upsizing of its existing mortgage for its Gainesville cultivation facility (the “Facility”), increasing the principal amount of the mortgage to $48.4M.
Proceeds will be used to invest further in the Facility and the Company’s Florida business, as well as for general working capital purposes. Aside from the upsizing, there were no other changes to the terms of the mortgage, including the interest rate or the maturity date in 2033.
Brad Asher, Chief Financial Officer at AYR Wellness, said, “This upsizing further strengthens our balance sheet with additional capital at competitive rates and longer-term maturity. We believe the growth opportunity in Florida is greater than any other market in the country given its population, tourism, and potential for converting to adult-use sales in the coming years.”
Forward-LookingStatements
Certain information contained in this news release may be forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are often, but not always, identified by the use of words such as “target”, “expect”, “anticipate”, “believe”, “foresee”, “could”, “would”, “estimate”, “goal”, “outlook”, “intend”, “plan”, “seek”, “will”, “may”, “tracking”, “pacing” and “should” and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to, among other things, AYR’s future growth plans. Numerous risks and uncertainties could cause the actual events and results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements, including, but not limited to: anticipated strategic, operational and competitive benefits may not be realized; events or series of events, including in connection with COVID-19, may cause business interruptions; required regulatory approvals may not be obtained in a timely manner or at all; inflationary pressures may increase input costs; supply chain issues may hamper production and distribution; scientific research regarding cannabis is still in its early stages and is subject to change as further research is completed; state laws may restrict or prevent inter-state commerce in cannabis products; acquisitions may not be able to be completed on satisfactory terms or at all; and AYR may not be able to raise needed additional debt or equity capital. Among other things, AYR has assumed that its businesses will operate as anticipated, that it will be able to complete acquisitions on reasonable terms, and that all required regulatory approvals will be obtained on satisfactory terms and within expected time frames. Forward-looking estimates and assumptions involve known and unknown risks and uncertainties that may cause actual results to differ materially. While AYR believes there is a reasonable basis for these assumptions, such estimates may not be met. These estimates represent forward-looking information. Actual results may vary and differ materially from the estimates.
About AYR Wellness Inc.
AYR is a vertically integrated, U.S. multi-state cannabis business. The Company operates simultaneously as a retailer with 90+ licensed dispensaries and a house of cannabis CPG brands.
AYR is committed to delivering high-quality cannabis products to its patients and customers while acting as a Force for Good for its team members and the communities that the Company serves. For more information, please visit www.ayrwellness.com.
Company/MediaContact:
Robert Vanisko
VP, Public Engagement
T: (786) 885-0397
Email: [email protected]
CompanyContact:
Jon DeCourcey
Head of Investor Relations
T: (786) 885-0397
Email: [email protected]
InvestorRelations Contact:
Sean Mansouri, CFA
Elevate IR
T: (786) 885-0397
Email: [email protected]
Exhibit 99.2
AYR WellnessLaunches kynd Premium Edibles in Florida and Nevada
The reliablydosed, naturally flavored edibles feature a fresh new look as kynd debuts its strategic rebrand
**MIAMI,**March 27, 2024 - 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 its flagship cannabis brand, kynd, will launch its first line of premium edibles in Florida and Nevada. Patients in Florida can now begin exploring kynd's newest offering, with Nevada to follow in the coming weeks.
kynd breaks into the growing edibles market with a selection of naturally flavored, reliably dosed, melt-proof, vegan and gluten-free edibles that amplify creativity and relaxation with effect-based terpenes and cannabinoids, designed to deliver a combination of deliciousness and effectiveness that take cannabis adventures to new heights. Offerings include:
| · | UPLIFT Gummies: Available in Sour Strawberry and Sour Watermelon, these mood-boosting, energizing<br> Sativa gummies inspire creativity and awaken potential. |
|---|---|
| · | RELAX Gummies: Journey to a place of total relaxation with these soothing, calming, Indica<br> delectables, available in Sour Blue Raspberry and Tropical Pineapple. |
| --- | --- |
| · | BALANCE Gummies: With a perfectly paired 1:1 ratio of THC to CBD, these blissfully effective<br> edibles invite consumers on a peaceful, Florida Orange or Black Cherry-flavored journey. |
| --- | --- |
| · | SLEEP Gummies: Blending a 2:1 ratio of CBN and Indica terpenes, these Bedtime Blueberry gummies<br> allow consumers to unwind and enjoy a restful night’s sleep. |
| --- | --- |
| · | ENERGY Gummies: Low Dose, High Energy. These tart Sativa treats have 1mg of THC and 5mg of THCV,<br> a minor cannabinoid associated with increased focus and alertness. Perfect for checking items<br> off your to-do list! |
| --- | --- |
kynd's Sour Watermelon UPLIFT, Black Cherry BALANCE, and Sour Blue Raspberry and Tropical Pineapple RELAX Gummies are now available in Florida. Additional flavors will be available in Florida and Nevada at a later date.
"As we continue to relaunch our flagship cannabis brand, kynd, we are thrilled to expand the brand’s offerings into new categories like edibles," said David Goubert, President and CEO of AYR. "Edibles are a growing product category that caters to both new and longtime cannabis consumers. We believe our customers in Florida and Nevada will be thrilled with the new offerings, and we look forward to introducing kynd edibles to customers and wholesale partners in additional states later this year. Whether it's time to unwind and relax or it's a bright, sunny day fit for fun and celebration, kynd has an edible that will enhance your day."
The launch of kynd's premium edibles builds upon the debut of its refreshed brand identity. Adding to its dynamic collection of premium flower, kynd's first collection of gummies puts AYR's flagship brand in a position to positively impact the $2.2B edibles market. The revitalized brand is dedicated to meeting all patients' needs while building a holistic presence that prioritizes both the plant and community. The brand’s "Season of Kyndness" initiative raised over $60K in donations for local nonprofit organizations nationwide in December of 2023, with notable funds raised for the Veterans Cannabis Project in AYR’s home state of Florida.
To learn more about Season of Kyndness, kynd's refreshed brand identity or the launch of premium edibles in Florida and Nevada, please visit www.kynd.com or @kyndflower on Instagram.
AboutAYR Wellness Inc.
AYR Wellness is a vertically integrated, U.S. multi-state cannabis business. The Company operates simultaneously as a retailer with 90+ licensed dispensaries and a house of cannabis CPG brands.
AYR is committed to delivering high-quality cannabis products to its patients and customers while acting as a Force for Good for its team members and the communities that the Company serves. For more information, please visit www.ayrwellness.com.
**Company/MediaContact:**Robert Vanisko
VP, Public Engagement
T: (786) 885-0397
Email: [email protected]
**Company/InvestorRelations Contact:**Jon DeCourcey
Head of Investor Relations
T: (786) 885-0397
Email: [email protected]
**InvestorRelations Contact:**Sean Mansouri, CFA
Elevate IR
T: (786) 885-0397
Email: [email protected]