Ayr definition

Ayr or the “Company”), a vertically-integrated cannabis multi-state operator (MSO), has entered into a binding letter of intent to acquire PA Natural Medicine, LLC (“PA Natural”), an operator of three licensed retail dispensaries, deepening Ayr’s presence in the rapidly growing medical market in the Commonwealth of Pennsylvania. “Our goal across our footprint is to develop scale and meaningful presence in each of our markets. Today’s announcement builds on our already strong position in Pennsylvania, where we have built a tremendous foundation since entering the state just a few months ago. Our three Ayr Wellness stores, open an average of less than six months, are run-rating at over $7 million in annualized revenue per dispensary and our cultivation facilities are producing some of the best reviewed flower in the state,” said ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, Ayr Wellness Founder, Chairman and CEO. “With such great momentum in this market, we are expanding our retail presence with the acquisition of PA Naturals, a three-store operation in central Pennsylvania with some of the best operating metrics in the state and a complementary footprint to our existing six licenses. We look forward to welcoming the great people of PA Naturals to the Ayr team,” he concluded. PA Naturals has locations in the college towns of Bloomsburg and State College, as well as Selinsgrove, PA and operates under the retail banner “Nature’s Medicine”. The acquisition is expected to close in Q4 2021 and the Company expects to rebrand the dispensaries under the AYR Wellness banner shortly after closing. Ayr intends to purchase 100% of the membership interests of PA Natural. The terms of the transaction include upfront consideration of $80 million, made up of $20 million in stock, $25 million in seller notes and $35 million in cash. An earn-out of up to $40 million, based on 2021 EBITDA hurdles, is payable in Q1 2022 and includes a maximum additional cash payment of $10 million with the remainder paid in stock and notes. The acquisition is subject to customary closing conditions and regulatory approvals. Operations of PA Naturals will remain unchanged pending the closing. 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”, “inte...

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Ayr means Ayr Wellness Inc.;

Ayr means the institution named Ayr College being a college of further education prescribed under section 11(1) of the 1992 Act(2);

Examples of Ayr in a sentence

• 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.

• While Ayr believes there is a reasonable basis for these assumptions, such estimates may not be met.

• This involved holding two multi-stakeholder events in University Hospital Ayr and University Hospital Crosshouse.

• This will see the establishment of a new Ayrshire regional college, bringing together Kilmarnock, Ayr and ▇▇▇▇▇ ▇▇▇▇ Colleges to better serve students and focus on the needs of employers.

• Ayr is an expanding vertically integrated, U.S. multi-state cannabis operator, focused on delivering the highest quality cannabis products and customer experience throughout its footprint.

• The area benefits from the two ports of Ayr and Troon with approximately 730,000 tonnes of cargo exported and imported every year including timber, coal, cement, seaweed and animal feed.

• When the Consultant is at his Ayr location, the company will contact him between the hours of 2:00 PM and 6:00 PM Consultant's local time.

• Ayr strives to enrich consumers’ experience every day through the wellness and wonder of cannabis.

• Following the creation of our industry standard composites laboratory on our Ayr Campus, we will continue to be the recognised partner of choice for composite repair and testing for the aerospace and renewables sectors.

• It will be a priority to ensure that students on all campuses benefit from high quality learning spaces and over the next three years we will continue to improve campus facilities in Ayr, Kilwinning and Irvine.