On February 26, 2021, Liberty Health Sciences (CSE:LHS; OTCQX:LHSIF) (“Liberty”) and Ayr Wellness Inc. (CSE:AYR.A; OTCQX:AYRWF) (“Ayr”), formerly Ayr Strategies Inc., announced the completion of its arrangement agreement pursuant to which Ayr has acquired all of the issued and outstanding shares of Liberty in an all-share transaction for a total consideration of approximately $372 million (or US$290 million) on a fully-diluted basis. Ayr cultivates and manufactures branded cannabis products for distribution through its network of retail outlets and through third-party stores.
Liberty Health Sciences is an integrated “seed-to-sale” company that provides medical marijuana products to patients throughout the State of Florida.
Miller Thomson advised Liberty Health on the transaction with a team co-led by Lawrence Wilder and Adam Kline (Capital Markets & Securities), and comprised of Lucy Schilling, Deven Rath, Abid Ahmed, Desmond Christy, and Syed Rizvi (Capital Markets & Securities); Neil Gurmukh and Ron Choudhury (Tax); Eric Dufour (Competition); Bryan Hicks (Shareholders Disputes); and Sarah DeGenova and Madison Derraugh (Articling Students).
