AYRWF News & Events

AYR Wellness announces the initiation of proceedings under the Companies' Creditors Arrangement Act in the Supreme Court of British Columbia. The CCAA proceedings are part of the Company's restructuring process pursuant to the previously disclosed Restructuring Support Agreement dated July 30. Under the RSA, core assets of AYR's subsidiaries will be transitioned to a newly-formed acquisition vehicle owned by certain of AYR's senior noteholders. In connection with the ongoing restructuring process and consistent with the RSA, the Company has authorized the initiation of CCAA proceedings to facilitate an orderly, court-supervised wind-down of the existing AYR corporate parent entity and to support the implementation of transactions contemplated by the RSA. As part of the initial relief to be sought, the Company expects to request the appointment of a licensed insolvency trustee to act as monitor and related customary relief to support the stability of operations during the process. In addition, the board of directors of the Company (the has appointed Mr. Blake Holzgrafe as Interim CEO of AYR's corporate parent to finalize the orderly wind-down of the parent. Mr. Holzgrafe will serve at the pleasure of the Board, while Mr. Davido will remain an authorized officer of AYR's various operating subsidiaries. Mr. Davido is expected to become the Interim CEO of NewCo. The Company also announces the execution of the previously disclosed Master Purchase Agreement, as contemplated by the RSA, pursuant to which the collateral assets and equity interests of specified subsidiaries in Florida, New Jersey, Nevada, Ohio, Massachusetts, Pennsylvania and Virginia will be transferred to NewCo, subject to the receipt of necessary regulatory approvals and other customary closing conditions.

AYR Wellness announces that the public foreclosure auction contemplated by the Restructuring Support Agreement dated July 30, 2025, resulted in the credit bid submitted by the Company's senior noteholders being deemed the successful bid to acquire ownership through a newly formed acquisition vehicle of certain collateral assets and equity interests of specified subsidiaries in Florida, New Jersey, Nevada, Ohio, Massachusetts, Pennsylvania and Virginia, which collectively represent the core operations of the Company. As further contemplated by the RSA, in the coming days the Company expects to sign a Master Purchase Agreement, to formally begin the process seeking all the necessary regulatory approvals to transfer ownership of the Assets to NewCo, and commence proceedings under the Companies' Creditors Arrangement Act in British Columbia to facilitate a court-supervised winding-down of the existing AYR corporate parent entity. Odyssey Trust Company, in its capacity as collateral trustee for the Company's Senior Noteholders, conducted the Sale in accordance with Article 9 of the Uniform Commercial Code, at the direction of Senior Noteholders holding a majority of the outstanding senior notes. The auction for the Sale was held on November 10, 2025, at 10.00 a.m. virtually via Zoom.

AYR Wellness announces the opening of its first-ever indoor cultivation facility in Florida, marking a major milestone for the Company and its customers in the Sunshine State. The new 97,580 sq. ft. facility features nearly 50,000 sq. ft. of grow canopy. The site will employ approximately 100 team members across cultivation, operations, and technical roles, with opportunities for both experienced professionals and those beginning their careers in the cannabis industry. The facility debuts with a curated library of genetics that blends Kynd fan favorites with exciting new cultivars like Purple Alien, alongside the return of beloved strains such as Powdered Doughnuts and Tiger Bomb. Outfitted with advanced LED lighting and sustainable irrigation systems, the site is designed to deliver consistent harvests while conserving water and minimizing the use of fertilizers.

AYR Wellness announces the next step of its debt restructuring process with its senior noteholders. As contemplated by the Restructuring Support Agreement dated July 30, this next phase of the restructuring will be implemented through a foreclosure sale, conducted by Odyssey Trust Company, in its capacity as collateral trustee for the Company's senior noteholders. The Trustee, at the direction of Senior Noteholders holding over a majority of the outstanding senior notes, has delivered notifications of disposition of collateral in accordance with the Uniform Commercial Code to conduct a public sale of certain collateral assets and equity interests of certain specified AYR subsidiaries with respect to certain going-concern operations of the Company in Florida, New Jersey, Nevada, Ohio, Massachusetts, and Pennsylvania, as more fully set forth in the notification delivered by the Trustee, and published an advertisement with respect to the Sale in the Wall Street Journal and distributed via Cannabis Business Times. The public auction is scheduled to occur on November 10, 2025, at 10:00 a.m. Eastern Time, at the offices of Paul Hastings, 200 Park Avenue, 26th Floor, New York, NY 10166, and/or virtually via video conference and the Trustee reserves the right to adjourn or postpone the auction without any further notice. "The commencement of the Article 9 proceedings and public auction process marks the latest milestone in our ongoing restructuring process, said Scott Davido, Interim CEO of AYR. "As we work to transition the ownership of many of the Company's assets to the successful bidder, throughout this entire process, AYR will continue to fully operate these businesses and continue to deliver the same high quality of products and services."