AYR Provides Update on Anticipated Cease Trade Order

Rhea-AI Summary

AYR Wellness, a leading U.S. multi-state cannabis operator, has announced that the Ontario Securities Commission (OSC) has issued a Failure to File Cease Trade Order (FFCTO) effective June 5, 2025. This order comes after the company failed to file its required interim financial statements and related documents for Q1 2025 by the deadline. The FFCTO prohibits all trading of AYR securities in Canada, with limited exceptions for non-insider beneficial security holders who can sell through foreign regulated markets. The company is actively working to complete its outstanding filings and maintains that the FFCTO will not affect its regular business operations or ability to serve customers.

Positive

• None.

Negative

• Failed to file Q1 2025 interim financial statements by the deadline
• Ontario Securities Commission issued a Cease Trade Order prohibiting trading of AYR securities in Canada
• Company experiencing delays in financial reporting which may indicate internal control or accounting issues

MIAMI, June 06, 2025 (GLOBE NEWSWIRE) -- AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) (“AYR” or the “Company”), a leading vertically integrated U.S. multi-state cannabis operator, today provides an update regarding the status of its securities in connection with its previously announced delay in filing its interim financial statements for the quarter ended March 31, 2025.‎

As disclosed on May 30, 2025, the Company was unable to meet the deadline to file its interim financial report, management’s discussion and analysis, and related CEO and CFO certificates for the three-month period ended March 31, 2025 (collectively, the “Interim Filings”) as required under applicable Canadian securities laws. As a result, the Ontario Securities Commission (the “OSC”) has issued a Failure to File Cease Trade Order (the “FFCTO”) effective June 5, 2025.

The FFCTO prohibits all trading, whether direct or indirect, in the securities of the Company in Canada, subject to certain limited exceptions for beneficial security holders who are not, and were not at the date of the FFCTO, insiders or control persons of the Company. Such holders may sell securities acquired before the date of the FFCTO if the sale is made through a “foreign organized regulated market” and through a registered investment dealer in Canada, in accordance with applicable securities legislation. The FFCTO will remain in effect until the Company files the required disclosures and the OSC revokes the order.

AYR is working diligently to complete its outstanding filings and will provide further updates as appropriate.

The Company does not expect the FFCTO to impact its ability to continue to operate in the ordinary course and remains committed to delivering high-quality cannabis products to its patients and customers.

Forward-Looking Statements
Certain statements contained in this news release may contain forward-looking information or may be forward-looking statements (collectively, “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 “target”, “expect”, “anticipate”, “believe”, “foresee”, “could”, “would”, “estimate”, “goal”, “outlook”, “intend”, “plan”, “seek”, “will”, “may”, “tracking”, “pacing” and “should” and similar expressions or words suggesting future outcomes. This news release includes forward-looking statements pertaining to, among other things, the status and potential revocation of the FFCTO and the Company’s ability to continue to operate in the ordinary course. Numerous risks and uncertainties could cause actual events and results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those anticipated. AYR has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About AYR Wellness Inc.
AYR Wellness is a vertically integrated, U.S. multi-state cannabis business. The Company operates simultaneously as a retailer with 90+ licensed dispensaries and a house of cannabis CPG brands.

AYR is committed to delivering high-quality cannabis products to its patients and customers while acting as a Force for Good for its team members and the communities that the Company serves. For more information, please visit www.ayrwellness.com.

Company/Media Contact:
Robert Vanisko
SVP, Public Affairs
T: (786) 885-0397
Email: comms@ayrwellness.com

Investor Relations Contact:
Sean Mansouri, CFA
Elevate IR
T: (786) 885-0397

FAQ

Why was AYR Wellness (AYRWF) issued a cease trade order in June 2025?

AYR Wellness was issued a cease trade order because they failed to file their Q1 2025 interim financial statements, management discussion and analysis, and related CEO/CFO certificates by the required deadline.

What are the restrictions under AYR Wellness's cease trade order?

The cease trade order prohibits all trading of AYR securities in Canada, except for non-insider beneficial security holders who can sell through foreign regulated markets via registered Canadian investment dealers.

How long will the AYRWF cease trade order remain in effect?

The cease trade order will remain in effect until AYR Wellness files the required financial disclosures and the Ontario Securities Commission revokes the order.

Will the cease trade order affect AYR Wellness's business operations?

According to the company, the cease trade order is not expected to impact their ability to continue regular business operations or deliver cannabis products to patients and customers.

What is AYRWF doing to resolve the cease trade order situation?

AYR Wellness states they are working diligently to complete their outstanding financial filings and will provide updates as appropriate.