‘Reports of AYR’s death are greatly exaggerated,’ execs tell us 👂

AYR
AYR Wellness says its restructuring is “a rebirth” — not a collapse

Driving the news: Jay and Jeremy chatted with AYR Wellness CEO Scott Davido and President George DeNardo about the company’s major restructuring and what comes next on Wednesday’s Cultivated Live.

What they said: “Reports of Ayr’s death are greatly exaggerated,” Davido said. “This is restructuring as rebirth.”

Here all the key takeaways:

AYR isn’t going out of business: It’s transferring ownership to prior creditors, wiping out hundreds of millions in debt, and emerging with a stronger balance sheet, the execs say.

Core markets remain: AYR will retain operations in Florida, Pennsylvania, Ohio, New Jersey, and Nevada. It plans to scale up in Virginia, where it currently has a license but no open stores.

Exiting Massachusetts, and laying off over 450 employees: DeNardo called the layoffs “the hardest part” of the process, but necessary to protect the future of ~2,000 remaining employees.

They’re not banking on federal reform: AYR says its new structure allows it to grow and be profitable without needing federal regulatory reform.

This is likely just the beginning: With many publicly traded cannabis firms facing debt cliffs in 2025, more restructurings may follow.

Watch the full interview:

"From the outset, rapidly growing the business has been central to my vision, recognizing that scale would be essential to navigating the inevitable volatility of the cannabis industry," said Curaleaf CEO Boris Jordan during the company's August 6 earnings call. 

Much like their peers, Curaleaf reported an overall loss for the second quarter. We have more earnings highlights below.

Delaware cannabis sales break half million in first weekend 💸

The state estimates that about $625,000 in sales were made during the first three days of legal cannabis sales in Delaware, which started Friday, August 1. Delaware joined about two dozen other states this weekend when it officially launched recreational sales. 

Vermont prepares for its first state-run testing lab 🔬

The Green Mountain State is getting ready to become one of the first states with their own state-run cannabis testing lab. Vermont currently has a small craft-oriented cannabis market with two independent testing labs.  

Oklahoma is taking another shot at legalization ☑️

Oklahomans for Responsible Cannabis Action began collecting signatures this week to bring recreational legalization to the state's ballot in 2026. A similar effort failed to gain a majority of voters during a March 7, 2023 special election. This time around organizers hope to get the question onto the 2026 general election ballot in November that year.

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HighBridge announces new distribution agreement ✍️

On Wednesday, HighBridge, a Wyoming based hemp beverage producer, announced an agreement with Opici Family Distributing based in New Jersey, marking continued east coast expansion for the company. Their product line for the region includes faux beers, seltzers and iced tea. 

And more: 

• Curaleaf announced an exclusive partnership with Miss Grass in Florida.

Blocking cannabis-like brain chemical makes mice anxious and antisocial 🐭

Indiana University scientists found that when they blocked a brain chemical linked to cannabis in mice, the animals became more anxious and less social. The results suggest this chemical plays a bigger role in mood and social behavior than researchers previously thought.

Cannabis use linked to irregular heartbeat in young adults — but more research needed

Researchers from Indiana University and the University of North Carolina found that cannabis use may increase the risk of heart rhythm problems like atrial fibrillation, especially in younger adults. But the study is based on observational data, so it can’t prove cannabis directly causes these issues, and factors like dosage or product type weren’t fully controlled.

Three of the largest US cannabis firms, along with Canadian company Aurora Cannabis, reported earnings on Wednesday. Here are the key takeaways: 

• Aurora Cannabis reported a $19.4 million loss (CAD) on $98 million in revenue. This reflects a drop from the $3.5 million the company made in profit during this same quarter in 2024. 

• Trulieve reported a $16 million loss on $302 million in revenue. The company continues to expand its retail footprint, with 231 retail locations nationwide. Trulieve also continues to bankroll the legalization effort in Florida. If passed in November 2026, it could eventually be a financial boon for the company, which currently dominates the retail side of the state’s medical market. 

• Green Thumb Industries reported a $650,000 loss on $293.3 million of revenue. The company said that it saw growth over the last quarter in Illinois, Pennsylvania, New Jersey and Florida, and that they anticipate a boost from the impending launch of Minnesota's market. 

• Curaleaf reported a $50.6 million net loss on $314.5 million of revenue. The company continues to expand its international footprint, announcing that it has been awarded a license to operate in Turkey. 

We’ve got you covered with the rest of the schedule:

August 7
Marimed - 8AM
Cannabist - 8AM
Cresco Labs - 8:30AM
Verano - 8:30AM
Cronos Group - 8:30AM
Ascend Wellness - 5PM
Terrascend - 5PM

August 8
Canopy Growth - 10AM

August 11
Village Farms - 8:30AM

August 12
Grown Rogue - 4:30PM

August 13
Organigram - 8AM
Planet 13 - 5PM

The homegrown tomato-to-weed-to-tomato pipeline?!

Those in the know remember back in the day when smoke shops would sell tomato grow kits that we all knew were good for cultivating weed. A new survey from Homegrown Cannabis Co. confirms that this was not a crazy coincidence, as 66% of home cultivators reported being inspired to move beyond weed to grow tomatoes and other produce at home. "Cannabis isn't a gateway drug, it's a gateway crop," said Homegrow Cannabis Co. co-founder and managing director Jessica Hanson.

As Ohio Hits One Year of Legal Marijuana Sales, It Has Potential To Be A National Model -- If Key Regulatory Hurdles Are Overcome | Marijuana Moment

'As happy as I've ever been': Calif. CEO finds new life in tiny NorCal town’ | SFGate