TORONTO, Feb. 23, 2021 (GLOBE NEWSWIRE) – Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF, “Ayr” or “the Company”), a leading vertically integrated multi-state cannabis operator and Liberty Health Sciences Inc. (“Liberty”) is pleased to announce at a special meeting held today that Liberty securityholders have overwhelmingly voted in favor of Ayr’s proposed acquisition of Liberty shares in a transaction originally announced on December 22, 2020 .
Shareholders, representing 57% of the shares issued and outstanding, voted and 95% voted in favor of the transaction. Under the terms of the Agreement, which is in the form of a Plan of Arrangement (“POA”) under the Business Corporations Act (British Columbia), Liberty Shareholders will receive 0.03683 Ayr Shares for each Liberty Share held, which is approximately 13, 1 million equals new Ayr shares.
We are extremely pleased with the voting results and look forward to bringing the wellbeing and wonders of Ayr products to Florida’s growing market.
Jonathan Sandelman, CEO of Ayr Wellness
Quality cultivation, first-class customer service and a focus on our communities are at the core of our culture at Ayr. We’re excited to extend this approach to the Liberty community.
“We are very excited to be part of Ayr Wellness,” added George Gremse, Interim Chief Executive Officer and Director of Liberty. “The agreement is an exciting opportunity for all of our stakeholders and we look forward to a bright future together.”
The POA will be submitted to the British Columbia Supreme Court for final approval on February 25, 2021. All regulatory approvals related to the transaction have been received. The company expects to close the transaction shortly after the final approval by the court.
Following this transaction and the upcoming acquisitions of Ayr in New Jersey, Arizona and Ohio, the company will operate in seven major US markets with a population of 73 million, 43 operating pharmacies and 554,000 square feet of annex.
About Ayr Wellness Inc.
Ayr is an expanding vertically integrated US multi-state cannabis operator focused on delivering the highest quality cannabis products and customer experience across its entire footprint. Based on the belief that it all starts with the quality of the plant, the company focuses on superior cultivation to grow superior branded cannabis products. Ayr strives to enrich the daily consumer experience through the wellbeing and wonders of cannabis.
Ayr’s leadership team brings a proven track record of growing successful businesses through disciplined operations and financial management, and is committed to creating a positive impact on customers, employees and the communities they touch. More information is available at www.ayrwellness.com.
About Liberty Health Sciences Inc.
Liberty is the cannabis provider committed to delivering a high quality cannabis experience based on our genuine care for all cannabis users and a focus on operational excellence from seed to sale. More information is available at: www.libertyhealthsciences.com.
Original press release
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