AYR Provides Update on Delay of Q1 2025 Interim Financial Filings

Rhea-AI Summary

AYR Wellness (AYRWF) has announced a delay in filing its Q1 2025 interim financial statements and related documents beyond the expected date of June 13, 2025. The delay stems from ongoing negotiations with creditors and the assessment of debt obligation classifications with a senior lenders committee. Due to this delay, the Ontario Securities Commission has issued a failure-to-file cease-trade order (FFCTO), suspending trading of AYR's securities on the Canadian Securities Exchange. The company is undergoing a strategic review process to address upcoming payment obligations and plans to provide an update on the filing timeline by June 27, 2025. Despite the trading suspension, AYR expects to continue normal business operations.

Positive

• Company continues normal business operations despite filing delay
• Strategic review process underway to address payment obligations and long-term planning

Negative

• Failure to file Q1 2025 interim financial statements on time
• Trading suspended on Canadian Securities Exchange due to cease-trade order
• Ongoing debt negotiations with creditors indicating potential financial stress
• Uncertainty regarding debt obligations and their accounting classifications

MIAMI, June 13, 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, announces that it has not completed the filing of its interim financial statements, management’s discussion and analysis, and related CEO and CFO certificates for the three-month period ended March 31, 2025 (collectively, the “Interim Filings”) by the previously anticipated date of June 13, 2025.‎

As previously disclosed, the delay in filing the Interim Filings is primarily due to the Company’s ongoing negotiations with its creditors and the continued assessment of the appropriate accounting classifications of certain debt obligations currently under negotiation with a committee of its senior lenders (the “Ad Hoc Committee”). These negotiations are part of a broader strategic review process, as the Company evaluates capital structure alternatives and other strategic options to address its upcoming payment obligations and to support the execution of its long-term strategic plan.

As disclosed on June 6, 2025, the Ontario Securities Commission (“OSC”) has issued a failure-to-file cease-trade order (“FFCTO”) in accordance with National Policy 12-307 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. The FFCTO prohibits all trading in AYR’s securities in all Canadian jurisdictions and has resulted in a suspension of the Company’s securities from trading on the Canadian Securities Exchange (“CSE”). The FFCTO will remain in effect until the Company completes and files the Interim Filings and all CSE requirements are satisfied.

AYR is working to complete the Interim Filings as soon as possible. The Company will provide a further update on the anticipated timing for filing the Interim Filings by June 27, 2025, or sooner if the filings are completed before that date.

The Company does not expect the FFCTO to impact its ability to continue to operate in the ordinary course.

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 timing and completion of the Interim Filings, the outcome of ongoing negotiations with the Ad Hoc Committee, the impact of the FFCTO, and the Company’s strategic review process. Numerous risks and uncertainties could cause actual events and results to differ materially from those 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 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 did AYRWF stock get suspended from trading in June 2025?

AYRWF was suspended from trading on the Canadian Securities Exchange due to a failure-to-file cease-trade order issued by the Ontario Securities Commission after the company failed to file its Q1 2025 interim financial statements on time.

When will AYR Wellness file its Q1 2025 financial statements?

AYR Wellness has committed to providing an update on the timing of its Q1 2025 financial statements filing by June 27, 2025, or sooner if completed before that date.

What is causing the delay in AYRWF's Q1 2025 financial filings?

The delay is primarily due to ongoing negotiations with creditors and the assessment of accounting classifications for certain debt obligations being negotiated with a committee of senior lenders.

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

According to the company, the failure-to-file cease-trade order is not expected to impact AYR's ability to continue operating in the ordinary course of business.

What strategic actions is AYR Wellness taking to address its financial situation?

AYR is conducting a strategic review process to evaluate capital structure alternatives and other strategic options to address upcoming payment obligations and support its long-term strategic plan.