Ayr Strategies Inc. (OTCQX: AYRWF) has taken the next steps in its Arizona strategy by signing a Definitive Agreement to buy Blue Camo, LLC in a deal first announced in November 2020. the deal is valued at $75.4 million, made up of $9.5 million in cash, $37.4 million in stock, and $28.5 million in seller notes. the deal is expected to close in late March depending upon regulatory approvals.
Blue camo’s operations include three Oasis-branded dispensaries in the greater Phoenix area, a 10,000 ft2 triple-stacked cultivation and processing facility in Chandler, and an 80,000 ft2 cultivation facility under development in Phoenix.
was on a buying binge in 2020. In December the company said it was buying Liberty Health Sciences (OTC: LHSIF) in an all-stock deal valued at $290 million. In addition, Ayr said it was buying the membership interests in GSD NJ LLC, a licensed operator in New Jersey, for upfront consideration totaling $101 million.
Also in December, Ayr closed on the purchase of CannTech PA for $57.4 million. That acquisition included a 143,000 sq. ft. cultivation and processing facility on 13 acres. The first phase of the planned build-out of the facility is complete and approved for cultivation. CannTech’s license permits up to six dispensary locations in Pennsylvania, including the recently announced opening of its first dispensary in New Castle, PA. CannTech plans to open two additional stores in the first quarter, with three further PA dispensary openings planned for the second half of 2021. Four of these additional dispensaries will be clustered in the Pittsburgh and Philadelphia metropolitan areas, while one will be in Erie, PA.