MIAMI, Florida, May 24, 2022 - PRESS RELEASE - Ayr Wellness Inc., a vertically integrated U.S. multi-state cannabis operator, announced that the New Jersey Cannabis Regulatory Commission (CRC) approved the company for adult-use cannabis sales in the Garden State.

Ayr currently operates medical dispensaries in Woodbridge, Union and Eatontown, located in Central New Jersey. The company's three retail locations are the maximum allowable dispensaries under current state law.

"We are thrilled to be approved for adult-use sales in New Jersey and to have all three dispensaries cleared simultaneously to open for adult-use," said Jonathan Sandelman, Ayr founder, chairman and CEO. "To date, Central Jersey has the lowest number of dispensaries per capita, leaving its population under-served compared with the rest of the state. New Jersey is expected to become a highly influential state for the U.S. cannabis industry, and we are honored to help shape the market landscape from its early stages."

"This is a significant milestone for Ayr, and I am so proud of our team for making it a reality," said Julie Winter, Ayr's vice president of retail operations in New Jersey. "We look forward to opening our doors to adult-use customers while continuing to provide excellent service, quality and choice to our medical patients."

Adult-use sales in New Jersey officially began five weeks ago. BDSA expects New Jersey to be the third-largest contributor to overall U.S. sales growth by 2026, projected to generate annual revenue of $2.3 billion in total legal cannabis sales.

For more information about Ayr Wellness, please visit https://ayrwellness.com.

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