AYR Strategies to Acquire Pennsylvania Cannabis Assets for $57 Million

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Ayr Strategies (“Ayr”) is an expanding vertically integrated, U.S. multi-state cannabis operator, focusing on high-growth markets. We achieved monthly records for revenue, adjusted EBITDA and operating income in July, and we are currently operating at an exceptional $181 million and $77 million annual run rate for revenue and adjusted EBITDA, respectively. As non-IFRS measures generally do not have a standardized meaning, they may not be comparable to similar measures presented by other issuers. The Company references non-IFRS measures and cannabis industry metrics in this document and elsewhere. A reconciliation of how Ayr calculates adjusted EBITDA is provided below.

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Ayr Strategies Reports Financial Results & Reaches Agreements to Enter New Markets
Q2 Results In-Line with Earnings Pre-Announcement Issued on July 6, 2020 Ayr has Delivered Dramatic Improvements Across Key Financial Metrics Each Month Through July 2020 As of July 2020, Operating at an Annual Revenue & Adjusted EBITDA Run-Rate of $181 Million and $77 Million, Respectively Generated $8.7 Million in Cash from Operations in Q2; Cash Balance Remains Strong with $17 Million at July 31, 2020 Expanding Footprint to Three New States; Today Announcing a Binding Agreement Signed...

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