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Ayr Wellness (OTCMKTS: AYRWF) Opens New Cannabis Dispensary in Pinellas, Florida, its 44th Location In The State

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Ayr Wellness (OTCMKTS: AYRWF) has announced the opening of its latest dispensary in Pinellas, Florida. The Pinellas dispensary is the 44th disp0ensary the multistate cannabis operator is opening in Florida. 

Ayr Wellness opens its 44th store in Florida. 

Founder, Chairman, and CEO of Ayr Wellness, Jon Sandelman, said, “We are thrilled with our progress to date in Florida, a market where we see tremendous upside and growth potential. With 44 stores now open, at least 21 additional stores expected in prime locations in 2022, and significant improvements to our cultivation and production operations driving increased quality and volume, Florida promises to be a significant driver to growth and shareholder value in quarters and years to come.”

According to the US Census Bureau, the newest dispensary will take up more than 2,700 sq ft of valuable commercial space on one of Pinellas County’s most highly frequented highways, which has a population of more than 900,000. Ayr’s leading array of premium goods, including Secret Orchard Sun Gems, Origyn Extracts, and fruit-forward vapes, Big Pete’s Cookies, and an assortment of high-quality flowers, including pre-rolls and whole flower, will be available at the store, which has six points of sale.

Ayr Wellness acquired Liberty Health Sciences  in February 2021

Ayr purchased Liberty Health Sciences (“LHS” or “Liberty”), a Florida-based company with 31 outlets across the state, in February 2021. Ever since, the company has established 13 more stores, bringing the total number of outlets to 44.

Ayr moved its U.S. offices from New York City to Miami earlier this year, demonstrating its commitment to the region. BDSA data shows that Florida’s cannabis market is third in the country in terms of overall cannabis sales, with more than $1.23B in medical cannabis income in 2020. Florida’s cannabis sector is expected to generate $2.6 billion by 2026, according to the BDSA.

The company recently offered an update on its stock repurchase program. Under the program, Ayr Wellness has repurchased around 568,000 subordinated voting shares for around $11 million. 

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