AYR Cannabis Dispensary Celebrates Opening of Manchester, Connecticut Retail Location

AYR Cannabis Dispensary Celebrates Opening of Manchester, Connecticut Retail Location

The Company's first retail location in the state, opened in partnership with local attorney Tiana Hercules, features drive-thru and in-store shopping for cannabis customers

MIAMI, Aug. 19, 2024 (GLOBE NEWSWIRE) -- AYR Cannabis Dispensary, a cannabis retail chain owned by 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 the opening of AYR Cannabis Manchester, the Company's first retail location in Connecticut and 94th nationwide. Located at 185 Spencer St, Manchester, CT 06040, AYR Cannabis Manchester began serving adult-use consumers and medical patients on August 16, 2024.

AYR Cannabis Manchester enters the Connecticut market via Connecticut Cultivation Solutions, an entity co-owned by Tiana Hercules Esq., a Hartford City Councilwoman and AYR. The entity was awarded a Disproportionately Impacted Area ("DIA") license in Connecticut and combines Ms. Hercules' local knowledge, expertise, and community ties, with AYR's deep experience in operating dispensaries across its footprint of eight states, to serve Manchester and its surrounding communities, particularly those negatively impacted by cannabis prohibition.

AYR Cannabis Manchester is conveniently located near Interstate 384 for customers in Manchester and in nearby towns devoid of licensed retail locations, including Bolton, Coventry, and Glastonbury. The 1,600-square-foot storefront offers in-store and drive-thru service for customers looking to explore the Company's top-end selection of premium cannabis products. During each visit, customers can turn to the dispensary's knowledgeable staff members for assistance as they identify the products and brands best suited for their cannabis journey.

"It is an honor to be opening a dispensary so close to my hometown, and I am thrilled by the opportunity our dispensary will afford me to give back to the community," said Ms. Hercules. "Legal cannabis is a very good thing for Connecticut with the potential to drive social good in a variety of ways. I look forward to taking part in that with the opening of AYR Cannabis Manchester."

"It is with great pleasure and excitement that we open our first location in Connecticut, alongside an outstanding partner in Tiana Hercules," said Kyle Ronellenfitch, SVP, Market General Manager for AYR. "Our primary goal has been and will always be to improve through the power of cannabis, via cannabis products themselves and by leveraging our dispensary footprint for positive community impact. We're excited to introduce AYR to our neighbors in Manchester and look forward to establishing AYR as a Force for Good within the community."

AYR and Ms. Hercules have collaborated on social good activities throughout the state, including local expungement clinics throughout the state, as well as support for the Bridge to Morehouse Program, which creates a pathway for CT State Capital Community College students to transfer into the HBCU, Morehouse College.

To learn more about your nearest retail location or AYR Wellness' partnership with Connecticut Cultivation Solutions, please visit www.ayrwellness.com.

Forward-Looking Statements
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.

Media Contact:
Robert Vanisko
VP, Public Engagement
T: (786) 885-0397
Email: [email protected]

Company Contact:
Jon DeCourcey
Head of Investor Relations
T: (786) 885-0397
Email: [email protected]

Investor Relations Contact:
Sean Mansouri, CFA
Elevate IR
T: (786) 885-0397
Email: [email protected]

Source: Ayr Wellness Inc.

Released August 19, 2024

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