Ayr Wellness and Liberty Health Sciences close arrangement
On February 26, 2021, Ayr Strategies Inc. ("Ayr") and Liberty Health Sciences Inc. ("Liberty") announced the completion of a previously announced arrangement, pursuant to which, among other things, Ayr acquired all of the common shares of Liberty in an all-share transaction for a total consideration of approximately C$372 million on a fully-diluted basis.
Under the terms of the arrangement, effected by way of plan of arrangement under the Business Corporations Act (British Columbia), shareholders of Liberty received 0.03683 of a subordinate voting share or restricted voting share for each Liberty share held, equating to approximately 12.7 million new Ayr shares.
Ayr now has a presence in seven states, with active operations in Florida, Massachusetts, Nevada and Pennsylvania and pending acquisitions in New Jersey, Arizona, and Ohio.
Further information can be found on Globe Newswire’s website.
Liberty is the cannabis provider committed to providing a high-quality cannabis experience based on our genuine care for all cannabis users and a focus on operational excellence from seed to sale.
Ayr 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.