AYRWF Growth In FL
AYR yesterday announced the grand opening of a new dispensary in Mary Esther, Florida, under the Liberty Health Science banner. The new location is Ayr’s 34th in Florida and brings Ayr’s total retail footprint to a milestone of 50 stores across seven states (including the pending acquisition in New Jersey). Mary Esther is a town on Florida’s Emerald Coast in Okaloosa County (population of approximately 180,000). The 3,200 sq ft store is located just off Route 98, the major coastal thoroughfare connecting the Gulf Coast communma City to Pensacola. Ayr Wellness completed the acquisition of Liberty Health Sciences in a few weeks in an all-stock transaction on February 26, 2021. The Company plans to have 42 stores open in Florida by the end of 2021. The Florida medical marijuana market continues to show robust growth, with the Florida Office of Medical Marijuana Use reporting over 540,000 registered patients as of April 23, 2021, up 61% year-over-year.
Canada 2.0 Product Growth Trend
Canadian cannabis sales have shifted from Flower to 2.0 products such as vapes, edibles, concentrates, topicals and beverages. Share of flower sales compared to total cannabis sales have decreased from 62.1% to 54.7% of total sales compared to one year ago today. 2.0 products with the largest increases have been topicals, concentrates, and beverages.
Mercer Park
Mercer Park Brand Acquisition which has entered into a definitive agreement to merge with the Glass House Group announced that it expects to hold a shareholder meeting on June 2, 2021, to approve the Glass House Group Transaction. It is anticipated that the Glass House Group Transaction will close shortly thereafter, subject to the satisfaction or waiver of all closing conditions. “We believe the brand-building potential of the Glass House Group Transaction is exceptional,” said Mercer Park Brand Chairman Jonathan Sandelman. “This is an incredible portfolio of assets and talent, and Glass House has a proven track record of excellence. Glass House Group is poised to become the largest vertically integrated brand-building platform in California, the world’s largest cannabis market.” To facilitate the closing of the Glass House Group Transaction, on May 5, 2021, there will be a shareholder meeting to vote to support a brief extension of the May 13, 2021 deadline of the Company’s permitted timeline. Following the extension, investors will have an additional opportunity to redeem their shares for cash before closing the Glass House Group Transaction by depositing their shares for redemption before the close of business on June 2, 2021.
