Ayr Wellness Enters Definitive Agreement To Buy Owner Of Levia Cannabis Infused Seltzers For $20M

Multi-state cannabis operator Ayr Wellness Inc. (CSE: AYR.A) (OTC: AYRWF) revealed on Tuesday that it has moved to a definitive agreement for its previously announced plan to acquire Cultivauna, LLC, the owner of Levia branded cannabis-infused seltzers and water-soluble tinctures.

Ayr intends to purchase 100% of the interests of Cultivauna, LLC. The terms of the transaction include $20 million in upfront consideration, made up of up to $10 million in cash with the remainder in stock. An earn-out payment of up to an additional $40 million will be paid in shares based on the achievement of revenue targets in and 2023.

Levia Cannabis-Infused Seltzer is currently available in Massachusetts …

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