Ayr Wellness Cannabis Co. Gets Green Light To Sell At Two Boston Dispensaries, Triples Grow Capacity In Massachusetts

Vertically integrated cannabis company Ayr Wellness Inc. AYR AYRWF confirmed that its local partner Sira Naturals can now sell recreational cannabis at its Somerville and Watertown locations in Greater Boston.

Both dispensaries are ready to serve medical patients and adult-use customers, the company said Thursday.

Apart from provisional licenses for the sale of adult-use cannabis, the Massachusetts Cannabis Control Commission also granted Sira Naturals a provisional license for cultivation and production for Ayr’s M3 cultivation facility, located in Milford.

The 90,000 square feet facility, which is currently under construction, will triple Ayr’s cultivation capacity in the Bay State, bringing it to the maximum 100,000 square feet of canopy allowed under its license.

The new facility will “further our leading wholesale presence within the state,” said Ayr CEO 

Jonathan Sandelman, stressing that the greater Boston area has been "drastically underserved" in access to adult-use cannabis.”

“As we often state, our goal is to be the largest scale cultivator of high-quality cannabis in each and every market where we operate,” Sandelman added.

Ayr Wellness Pays Nearly $300,000 Fine To Massachusetts Cannabis Authorities

Meanwhile, Sira Naturals and another cannabis operator Tilt Holdings TLLTF, recently agreed to settle on separate allegations of regulatory violations with the Massachusetts Cannabis Control Commission.

Ayr’s subsidiary was accused of running an unlicensed delivery service, Stalk & Beans, and providing cannabis products to third-party businesses under Sira’s license.

Sira agreed to pay a $295,000 fine and have one of its Massachusetts licenses subjected to a one-year probationary period.

Price Action: At the time of writing, Ayr Wellness’ shares were trading 2.63% lower at $28.92 per share.

Photo by Mathematical Michael on Unsplash

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Posted In: CannabisNewsPenny StocksRetail SalesSmall CapMarketsJonathan SandelmanMassachusetts Cannabis Control CommissionSira Naturals
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