AYR Announces Delay of Q1 2024 Financial Statements and MD&A, Expected Cease Trade Order and Strategic Review Process

Core Viewpoint - AYR Wellness Inc. is unable to meet the May 30, 2025 deadline for filing its interim financial report due to ongoing negotiations regarding its debt obligations and has applied for a cease-trade order [1][3][4] Group 1: Financial Reporting and Compliance - AYR Wellness Inc. announced it will not meet the Filing Deadline for its interim financial report for the period ended March 31, 2025, as required under Canadian securities laws [1] - The Ontario Securities Commission (OSC) will issue a failure-to-file cease-trade order (CTO) instead of a management cease trade order (MCTO), which will prohibit trading in AYR's securities across all Canadian jurisdictions until the interim filings are completed [4] Group 2: Strategic Review and Debt Negotiations - The company is undergoing a strategic review process due to upcoming payment obligations to creditors and has retained Moelis & Company LLC as its exclusive investment banker to explore capital structure alternatives [2] - AYR is negotiating with a committee representing over 50% of its outstanding senior secured notes due December 10, 2026, as part of its broader strategic review [2] Group 3: Operational Impact and Future Expectations - The company does not expect the CTO to impact its ability to operate normally and anticipates completing and filing the interim financial report by June 13, 2025 [5] - AYR will provide an update on the anticipated timing for filing the documents if not completed by the expected date [5] Group 4: Company Overview - AYR Wellness Inc. is a leading vertically integrated U.S. multi-state cannabis operator with over 90 licensed dispensaries and a commitment to delivering high-quality cannabis products [7]