Liberty Health Sciences announces acquisition by Ayr Strategies

December 22, 2020

On December 22, 2020, Liberty Health Sciences (CSE:LHS; OTCQX:LHSIF) (“Liberty”) and Ayr Strategies Inc. (CSE:AYR.A; OTCQX:AYRWF) (“Ayr”) announced that they have entered into a definitive arrangement agreement pursuant to which Ayr will acquire 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 is advising Liberty Health on the transaction with a team co-led by Lawrence Wilder and Adam Kline (Capital Markets & Securities), and comprising of Lucy Schilling, Deven Rath, and Abid Ahmed, Desmond Christy (Capital Markets & Securities); Neil Gurmukh and Ron Choudhury (Tax); Eric Dufour (Competition); Bryan Hicks (Shareholders Disputes); and Sarah DeGenova and Madison Derraugh (Articling Students).