MIAMI, June
13, 2022 (GLOBE NEWSWIRE) — PRESS RELEASE–Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF), a vertically integrated U.S. multi-state
cannabis operator, today announced that it will begin serving adult-use
customers at its three New Jersey dispensary locations on Wednesday, June 15,
2022.

Ayr’s
adult-use dispensaries are in prime locations in the towns of Woodbridge,
Union, and Eatontown, all within Central New Jersey, a region of 3.4 million
people. Ayr’s adult-use stores represent 3 of 5 adult-use stores in this highly
populated region.

“With the
simultaneous opening of our three adult-use dispensaries, Ayr immediately has
one of the largest adult-use retail footprints in the state of New Jersey. This
marks a monumental step for our company,” said Jonathan Sandelman, Founder,
Chairman and CEO of Ayr. “Adult-use cannabis sales in the state topped $24
million in the first month alone with only 12 dispensaries, according to the
New Jersey Cannabis Regulatory Commission. As we bring expanded access and
introduce Ayr’s portfolio of high-quality branded offerings, including Kynd
flower and Origyn Extracts, to the currently under-served and densely populated
Central New Jersey market, we expect adult-use cannabis sales to climb further
from these initial levels, with Ayr being a significant contributor. Thank you
to our teammates across Ayr who worked so hard to bring this milestone to
fruition.”

“I want to
thank the towns of Woodbridge, Union and Eatontown for being such great
partners throughout this process. We are committed to being a great neighbor,
and we appreciate the level of trust that these municipalities have placed in
us,” said Julie Winter, Ayr’s Vice President of Retail Operations in New
Jersey.

Ayr currently
operates its New Jersey dispensaries under the Garden State Dispensary banner.

Adult-use
sales in New Jersey officially began five weeks ago. BDSA expects New Jersey to be the third largest contributor
to overall US sales growth by 2026, projected to generate an annual revenue of
$2.3 billion in total legal cannabis sales.

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