Tag: AYR

Vireo Health Announces Sale of Assets of Ohio Medical Solutions to Ayr Strategies for Total Consideration of $4.85 Million

MINNEAPOLIS, Oct. 1, 2020 /PRNewswire/ — Vireo Health International, Inc. (“Vireo” or the “Company”) (CNSX: VREO, OTCQX: VREOF), the science-focused, multi-state cannabis company with active operations in exclusively medical-only markets and licenses in seven states and the Commonwealth of Puerto Rico, today announced that it has reached a definitive agreement with Ayr Strategies Inc. (CSE:AYR.A)(OTCQX:AYRSF), to sell all of the assets and liabilities of its affiliated company, Ohio Medical Solutions, LLC (“OMS”), for total consideration of $4.85 million.

“This transaction allows Vireo to monetize a license acquired at minimal cost through a merit-based award process, and reallocate the proceeds to our core markets, where we see significant opportunities to improve revenue growth and future cash flow generation,” said Founder & Chief Executive Officer, Kyle Kingsley, M.D. “We’re especially pleased to achieve yet another milestone for our shareholders without the dilutive impacts of other forms of financing.

Read More

Good News For AYR Strategies (Podcast) (OTCMKTS:AYRSF)

Listen on the go! Subscribe to The Cannabis Investing Podcast on Apple Podcasts, Google Podcasts, Spotify, and Stitcher.

By Rena Sherbill

What does it take to succeed and lead in the cannabis industry, primarily the US MSO space? Jon Sandelman, AYR Strategies’ (OTCQX:AYRSF) CEO returns to the show (listen to his earlier appearance here) to give us deeper insights into what it takes to make it in this field and how AYR Strategies has been and is positioning itself to be a Top 5 player.

Topics include:

  • 8:00 – Given Jon’s financial background he knew to be EBITDA and cash flow positive, which wasn’t the focus of most cannabis companies. AYR had to essentially rebuild its business when Covid hit and the 2 states they were in were virtually closed. Jon said last time he was on in May that if they could recover from that,
Read More