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[PRESS RELEASE] – MIAMI, June 13, 2025 – AYR Wellness Inc., a leading vertically integrated U.S. multistate cannabis operator, announced, that it has not completed the filing of its interim financial statements, management’s discussion and analysis, and related CEO and chief financial officer (CFO) certificates for the three months ended March 31, 2025, (collectively, the “interim filings”) by the previously anticipated date of June 13, 2025.
As previously disclosed, the delay in filing the interim filings is primarily due to the company’s ongoing negotiations with its creditors and the continued assessment of the appropriate accounting classifications of certain debt obligations currently under negotiation with a committee of its senior lenders (the “ad hoc committee”). These negotiations are part of a broader strategic review process, as the company evaluates capital structure alternatives and other strategic options to address its upcoming payment obligations and to support the execution of its long-term strategic plan.
As disclosed on June 6, 2025, the Ontario Securities Commission (OSC) has issued a failure-to-file cease-trade order (FFCTO) under National Policy 12-307 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. The FFCTO prohibits all trading in AYR’s securities in all Canadian jurisdictions and has suspended the company’s securities from trading on the Canadian Securities Exchange (CSE). The FFCTO will remain in effect until the company completes and files the interim filings and all CSE requirements are satisfied.
AYR is working to complete the interim filings as soon as possible. The company will provide a further update on the anticipated timing for filing the interim filings by June 27, 2025, or sooner if the filings are completed before that date.
The company does not expect the FFCTO to impact its ability to continue to operate in the ordinary course.
