Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) (“Ayr,” “Ayr Wellness,” “we,” “us,” “our,” or the “Company”), a vertically-integrated cannabis multi-state operator (MSO), today announced the launch of its Revel flower in Pennsylvania. The launch of Revel represents the first product produced and sold by the Company in the commonwealth.
Sales of Revel flower will begin this weekend, available exclusively in the Ayr Wellness dispensaries in New Castle and Plymouth Meeting, Pennsylvania. Wholesale to other dispensary operators in the commonwealth will begin in June.
The initial launch will include five strains of flower, including First Class Funk, Mango Skunk, MR OG, Tangarang, and Zombie Kush. In June, Ayr will introduce Revel vape cartridges, concentrates, RSO and tinctures to the Pennsylvania market.
Jonathan Sandelman, CEO of Ayr, said, “We are excited to bring Ayr’s high-quality products to Pennsylvania with the launch of Revel. We believe everything starts with the plant, and as such have invested in building out the best cultivation facilities in the commonwealth. We will be launching many new and differentiated Ayr products in the Pennsylvania market over the coming months and look forward to introducing Ayr’s high standards and quality brands to the discerning Pennsylvania consumer.”
Pennsylvania has a robust and growing medical cannabis market with over 500,000 patients, 49 licensed dispensaries (with up to three locations each) and 25 licensed cultivators. Under its research program, Pennsylvania has issued an additional 8 vertical licenses, which allow cultivation, processing and up to 6 dispensaries. Annual statewide cannabis sales are expected to surpass $1 billion by 2024, with flower comprising ~45% of the total market, according to BDSA. After completing the expansion of its licensed cultivation facilities, Ayr will become one of the largest cultivators in the commonwealth with close to 200,000 sq. ft. of cultivation and production capacity, positioning it well to serve both its retail customers as well as the wholesale market with high-quality cannabis products.
The Company plans to expand the Revel line to additional states over the coming months.