Benzinga | Dec 6, 2021 01:41PM EST

Ayr Wellness To Start Activities In Its Arizona Cultivation And Production Facility

Vertically integrated cannabis company Ayr Wellness, Inc. (CSE:AYR) (OTCQX:AYRWF) confirmed Monday that it has received a Temporary Certificate of Occupancy to begin operations in its Phoenix, Arizona cultivation facility.

"Ayr continues to execute on its plan for growth, with this Phoenix cultivation facility being the latest project to come online," said Jonathan Sandelman, founder, chairman and CEO of Ayr Wellness. "Our talented cultivation team has already received great reviews for the Kynd premium flower being grown in our Chandler, Arizona facility, and we look forward to scaling production with this larger space. The flower produced will supply our three Oasis dispensaries, as well as our growing wholesale business in the state."

The Miami, Florida-based multi-state operator noted that the first crop was planted over the weekend, with the harvest projected for mid-March 2022.

Ayr expects to obtain local and regulatory authorizations for additional sections of the cultivation facility in the coming weeks.

More recent news from Ayr Wellness:

Analyst: AYR Wellness Weakness on Guidance Overlooks Longer-Term Opportunity

Ayr Wellness Q3 Revenue Spikes 111% YoY To $96M, Continues Acquisition Spree In Chicago

Ayr Wellness Cannabis Borrows $150M At 9.8% For 3 Years On Heels Of Acquisition Spree

Clash of the Titans: Can Cannabis Culture and Big Business Co-Exist?

Ayr Wellness To Buy PA Natural Medicine For $80M, Announces Accelerated Expiry Of Warrants

Price Action

Ayr Wellness' shares traded 0.20% lower at $15.00 per share at the time of writing Monday morning.

Photo: Courtesy of Avery Meeker on Unsplash