{"id":384984,"date":"2020-11-19T08:33:11","date_gmt":"2020-11-19T13:33:11","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=384984"},"modified":"2020-11-19T08:33:11","modified_gmt":"2020-11-19T13:33:11","slug":"ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\/","title":{"rendered":"Ayr Strategies Completes Acquisition of DocHouse in Pennsylvania"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">TORONTO, Nov.  19, 2020  (GLOBE NEWSWIRE) &#8212; Ayr Strategies (CSE: AYR.A, OTCQX: AYRSF, \u201cAyr\u201d or \u201cthe Company\u201d), a leading vertically integrated cannabis multi-state operator, today announced it has closed the acquisition of 100% of the equity interests in DocHouse LLC, a licensed grower-processor in Pottsville, Pennsylvania, which was previously announced on October 1, 2020. Including this and other pending transactions, Ayr will have operations in Massachusetts, Nevada, Pennsylvania, Arizona and Ohio.<\/p>\n<p>\u201cPennsylvania is a terrific medical market where demand is robust, but supply is not,\u201d said Jonathan Sandelman, Chairman and Chief Executive Officer of Ayr. \u201cWith the completion of this acquisition, we can now bring our cultivation and processing expertise to the Pennsylvania market and improve patients\u2019 access to quality cannabis.<\/p>\n<p align=\"justify\">\u201cOur entry into Pennsylvania will build on the successful operational foundation we have established in Massachusetts and Nevada, where our cultivation and production talent has driven both meaningful top line growth and increased profitability through efficiencies and sharing of best practices. We look forward to welcoming the DocHouse team in Pennsylvania to the Ayr family.\u201d<\/p>\n<p>The transaction includes DocHouse\u2019s 38,400 ft<sup>2<\/sup> cultivation and extraction facility, which has the capacity to expand to 74,000 ft<sup>2<\/sup>. Total consideration paid of US$20.8 million included $16.7 million of cash, $2.1 million in stock and $2.0 million in seller notes. The facility is expected to be operational in the second quarter of 2021.<\/p>\n<p>The transaction is subject to regulatory review and approval. CLD Advisory served as strategic financial advisor to DocHouse LLC.<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p>Certain information contained in this news release may be forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are often, but not always, identified by the use of words such as \u201ctarget\u201d, \u201cexpect\u201d, \u201canticipate\u201d, \u201cbelieve\u201d, \u201cforesee\u201d, \u201ccould\u201d, \u201cwould\u201d, \u201cestimate\u201d, \u201cgoal\u201d, \u201coutlook\u201d, \u201cintend\u201d, \u201cplan\u201d, \u201cseek\u201d, \u201cwill\u201d, \u201cmay\u201d, \u201ctracking\u201d, \u201cpacing\u201d and \u201cshould\u201d and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to, among other things, Ayr\u2019s future growth plans. Numerous risks and uncertainties could cause the actual events and results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements, including, but not limited to: anticipated strategic, operational and competitive benefits may not be realized; events or series of events, including in connection with COVID-19, may cause business interruptions; required regulatory approvals may not be obtained; acquisitions may not be able to be completed on satisfactory terms or at all; and Ayr may not be able to raise additional debt or equity capital. Among other things, Ayr has assumed that its businesses will operate as anticipated, that it will be able to complete acquisitions on reasonable terms, and that all required regulatory approvals will be obtained on satisfactory terms and within expected time frames. In particular, there can be no assurance that we will complete the pending acquisitions in or enter into agreements with respect to other acquisitions.<\/p>\n<p>\n        <strong>About Ayr Strategies Inc.<\/strong>\n      <\/p>\n<p>Ayr Strategies (\u201cAyr\u201d) is an expanding vertically integrated, U.S. multi-state cannabis operator, focusing on high-growth markets. The Company cultivates and manufactures branded cannabis products for distribution through its network of retail outlets and through third-party stores. Ayr strives to enrich consumers\u2019 experience every day \u2013 helping them to live their best lives, elevated.<\/p>\n<p align=\"left\">Ayr\u2019s leadership team brings proven expertise in growing successful businesses through disciplined operational and financial management, and is committed to driving positive impact for customers, employees and the communities they touch. For more information, please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mFlHfCiEtmaWXOTz27oCQM2OFMf_riDQNnSzTckfLsw9RLRZRqPjnMYk2I-O6ZA7NRnHxYZNHqH_9clPhUa3b6o74PkaariWjMvUJpT01po=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.ayrstrategies.com<\/a>.<\/p>\n<p align=\"both\">\n        <strong>Company Contact:<\/strong>\n      <\/p>\n<p align=\"both\">Megan Kulick, Head of Investor Relations<br \/>T: (646) 977-7914<br \/>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=F61dOSodXaVlhq42-uG4DcAfqPLL5BBrcfkwG6RorDB0vZyJfMNcg0u3wEV1DOvDl7ndq9xHAn9u-ivkhbGhYKmjNzfcuT7Dr-pwWyFJqSc=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">IR@ayrstrategies.com<\/a><\/p>\n<p>\n        <strong>Investor<\/strong><br \/>\n        <strong> Relations Contact:<\/strong>\n      <\/p>\n<p>Sean Mansouri, CFA or Cody Slach<br \/>Gateway Investor Relations<br \/>T: (949) 574-3860<br \/>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=F61dOSodXaVlhq42-uG4Da2vvtyBFt9BFgHY85gWj_Jt4J37Z98_wrYymHw8eX4kd2x8EQcQqQg4rF7WrlxO0ljPXhytF-0vMLSODYT4tWI=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">IR@ayrstrategies.com<\/a><\/p>\n<p>\u00a0<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4ODkwNCMzODM0OTEzIzIxODQzOTU=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/4da8ef9f-fa2e-4688-ba0e-199a3022b069\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>TORONTO, Nov. 19, 2020 (GLOBE NEWSWIRE) &#8212; Ayr Strategies (CSE: AYR.A, OTCQX: AYRSF, \u201cAyr\u201d or \u201cthe Company\u201d), a leading vertically integrated cannabis multi-state operator, today announced it has closed the acquisition of 100% of the equity interests in DocHouse LLC, a licensed grower-processor in Pottsville, Pennsylvania, which was previously announced on October 1, 2020. Including this and other pending transactions, Ayr will have operations in Massachusetts, Nevada, Pennsylvania, Arizona and Ohio. \u201cPennsylvania is a terrific medical market where demand is robust, but supply is not,\u201d said Jonathan Sandelman, Chairman and Chief Executive Officer of Ayr. \u201cWith the completion of this acquisition, we can now bring our cultivation and processing expertise to the Pennsylvania market and improve patients\u2019 access to quality &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Ayr Strategies Completes Acquisition of DocHouse in Pennsylvania&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-384984","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ayr Strategies Completes Acquisition of DocHouse in Pennsylvania - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ayr Strategies Completes Acquisition of DocHouse in Pennsylvania - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TORONTO, Nov. 19, 2020 (GLOBE NEWSWIRE) &#8212; Ayr Strategies (CSE: AYR.A, OTCQX: AYRSF, \u201cAyr\u201d or \u201cthe Company\u201d), a leading vertically integrated cannabis multi-state operator, today announced it has closed the acquisition of 100% of the equity interests in DocHouse LLC, a licensed grower-processor in Pottsville, Pennsylvania, which was previously announced on October 1, 2020. Including this and other pending transactions, Ayr will have operations in Massachusetts, Nevada, Pennsylvania, Arizona and Ohio. \u201cPennsylvania is a terrific medical market where demand is robust, but supply is not,\u201d said Jonathan Sandelman, Chairman and Chief Executive Officer of Ayr. \u201cWith the completion of this acquisition, we can now bring our cultivation and processing expertise to the Pennsylvania market and improve patients\u2019 access to quality &hellip; Continue reading &quot;Ayr Strategies Completes Acquisition of DocHouse in Pennsylvania&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-19T13:33:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4ODkwNCMzODM0OTEzIzIxODQzOTU=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Ayr Strategies Completes Acquisition of DocHouse in Pennsylvania\",\"datePublished\":\"2020-11-19T13:33:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\\\/\"},\"wordCount\":608,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA4ODkwNCMzODM0OTEzIzIxODQzOTU=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\\\/\",\"name\":\"Ayr Strategies Completes Acquisition of DocHouse in Pennsylvania - 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Including this and other pending transactions, Ayr will have operations in Massachusetts, Nevada, Pennsylvania, Arizona and Ohio. \u201cPennsylvania is a terrific medical market where demand is robust, but supply is not,\u201d said Jonathan Sandelman, Chairman and Chief Executive Officer of Ayr. \u201cWith the completion of this acquisition, we can now bring our cultivation and processing expertise to the Pennsylvania market and improve patients\u2019 access to quality &hellip; Continue reading \"Ayr Strategies Completes Acquisition of DocHouse in Pennsylvania\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-19T13:33:11+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4ODkwNCMzODM0OTEzIzIxODQzOTU=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Ayr Strategies Completes Acquisition of DocHouse in Pennsylvania","datePublished":"2020-11-19T13:33:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\/"},"wordCount":608,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4ODkwNCMzODM0OTEzIzIxODQzOTU=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/ayr-strategies-completes-acquisition-of-dochouse-in-pennsylvania\/","name":"Ayr Strategies Completes Acquisition of DocHouse in Pennsylvania - 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