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AYR Wellness Further Extends Limited Waiver Agreement With Senior Noteholders

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[PRESS RELEASE] – MIAMI, July 28, 2025 – AYR Wellness Inc., a leading vertically integrated U.S. multistate cannabis operator, announced that it has entered into an additional amendment to its previously disclosed limited waiver agreement with the holders of a majority of its senior secured notes. This latest amendment extends the temporary waiver period to July 29, 2025. 

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As previously disclosed, under the limited waiver agreement, the majority holders have provided a waiver of certain events of default related to the company’s delay in filing its interim financial statements for the quarter ended March 31, 2025, as well as specific payment defaults that may occur under AYR’s other outstanding indebtedness. This waiver temporarily restrains the majority holders from exercising their default-related rights and remedies with respect to those specified defaults, subject to the terms and conditions in the agreement.

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The extension to July 29, 2025, does not constitute a permanent waiver of any existing defaults or any rights under the governing documents. The company continues to operate its business in the ordinary course and expects to continue evaluating growth opportunities in key markets.



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Bipartisan Coalition of 32 Attorneys General Call for Federal Cannabis Banking Reforms

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A bipartisan coalition of 32 state and territorial attorneys general posted a letter Thursday that calls on Congressional leaders to pass the SAFER Banking Act of 2025, legislation that seeks to normalize the relationship between state-legal cannabis businesses and the financial industry.

The cannabis industry generated over $30.1 billion in sales in 2024 and is projected to surpass $34 billion by the end of 2025, according to the letter. However, although nearly 75% of U.S. citizens live in a jurisdiction that has legalized some form of access to cannabis products – whether via a medical program or as part of sweeping adult-use reforms – the industry still conducts its business almost entirely in cash.

This creates “a considerable safety issue for the public,” the attorneys general wrote, as “employees and customers are at greater risk of violent crime in pursuit of that cash.” The letter argues that giving cannabis companies access to “the nation’s regulated banking system is crucial to public safety and to ensuring that lawful businesses in our states have access to regulated banking services.”

The reforms would also improve “compliance with tax laws,” the letter said, and would “help ensure that state governments do not forfeit hundreds of millions of dollars in tax revenue that the cannabis industry generates.”

“Congress should provide a safe harbor for depository institutions that provide a financial product or service to a covered business in a state that has implemented laws and regulation that ensure accountability in the cannabis industry. An effective safe harbor would bring billions of dollars into the banking sector, enabling law enforcement, federal, state, and local tax agencies, and cannabis regulators in the states and territories to more effectively monitor cannabis businesses and their transactions.” – Excerpt from the letter

“By reducing the risk of crime and improving tax compliance through access to regulated financial services, the SAFER Banking Act has the ability to enhance both public safety and transparency,” Michigan Attorney General Dana Nessel (D), who supported similar legislation in 2023, said in a statement. “With billions in revenue, giving cannabis businesses a secure place to bank isn’t just smart policy – it’s common sense.”



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Trump Backs Pro-Marijuana-Legalization Lawmaker To Lead Republican National Committee

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President Donald Trump has thrown his support behind Florida state Sen. Joe Gruters (R)—a vocal proponent of marijuana legalization—to lead the national Republican Party.

The president officially endorsed Gruters for chairman of the Republican National Committee (RNC) in a lengthy social media post last Thursday in which he also endorsed current RNC Chairman Michael Whatley in his bid for a U.S. Senate seat representing North Carolina.

Trump said Gruters, who formerly headed the GOP in Florida, would be a fitting replacement to lead the national party.

“I have somebody who will do a wonderful job as the Chairman of the RNC,” Trump wrote. “His name is, Joe Gruters, and he will have my Complete and Total Endorsement.”

The president’s daughter-in-law, Lara Trump, has served as an RNC co-chair.

Notably, Trump had also endorsed Gruters to be Florida’s chief financial officer, but last week Gov. Ron DeSantis (R) instead appointed state Sen. Blaise Ingoglia (R) to fill the role until the next election.

The governor was critical of Gruters’s advocacy for marijuana legalization through last year’s Amendment 3, an industry-backed initiative that would have legalized and regulated cannabis for adults in the state.

Ultimately, Amendment 3 failed to reach the necessary 60 percent threshold for passage under state law, though it received a majority of the statewide vote.

“Gruters sided with the mega-weed company Trulieve and was joining with liberal Democrats to try to do it,” DeSantis said at a press event last week, “so his record is contrary to what we told the voters we’d do.”

DeSantis told reporters at the time that “if George Washington rose from the dead and came back and tapped me on the shoulder and said, ‘Will you appoint Joe Gruters CFO?’ My response would be: ‘No, I can’t do that.’”

DeSantis was a staunch opponent of Amendment 3, but Trump notably supported it. Ahead of endorsing the measure, then-candidate Trump met with Gruters and, separately, Trulieve CEO Kim Rivers.

“We discussed the policy at length. Here in Florida, it’s common sense,” Gruters said last fall. “President Trump is certainly trying to make inroads with the younger demographics, where I think a lot of these voters—certainly undecided ones—where this can make a big difference. And I think that certainly had a role.”

At the same, Gruters told Marijuana Moment at the time that there were also “a lot of people that were trying to talk [Trump] out of saying anything nice” about legalization.

“Like any major policy decision, he’s going to get input from lots of people,” the state senator said, “but I’m thankful to be in the circle where I could offer my opinion, and I think he values it.”

Gruters appeared in a TV ad fro the cannabis campaign.

“Florida is the freest state in America, but we still have outdated marijuana laws obstructing that freedom,” he said in the spot. “Amendment 3 would give adults back that freedom and give Florida a chance to legalize marijuana responsibly. Florida is the only state that can do this right from the right. Vote ‘yes’ on Amendment 3.”

In addition to backing last year’s Amendment 3, Gruters also sponsored additional marijuana reform bills earlier this year.

SB 546 would have allowed state-registered medical marijuana patients to grow up to two cannabis plants per household for their own use. SB 552 would have added to the state’s list of qualifying medical marijuana conditions those “for which a patient has been prescribed an opioid drug” and called on regulators to make rules allowing out-of-state patients to access Florida’s medical marijuana program.

In February, Gruters said on a podcast that there’s “not a lot of interest in my Republican colleagues to move anything related to marijuana whatsoever.”

In the interview, the senator likened home cannabis cultivation to home beer brewing or winemaking.

“Florida is a freedom state. I believe in freedom,” he said. “If you really want to do that stuff, and you want to take the time, then by all means go and do it, as long as you do it in a regulated way to where nobody else is getting hurt and you’re taking responsibility.”

Gruters also revealed that on his birthday a few years ago, while vacationing in Las Vegas with his wife, the couple decided to try some infused gummies, he said.

“All I’ll say is, I thought everybody was looking at me,” the lawmaker recalled. “I was very thirsty, and I told my wife, I said, ‘You’ve got to get me back to our hotel room quick!”

While Trump has welcomed into his administration a number of marijuana legalization skeptics, his support for Gruters to lead the national GOP could potentially elevate cannabis reform as a priority for Republican Party officials.

While more and more Republican voters in recent years have expressed support for legalization in polls, GOP leadership has largely remained opposed.

A survey conducted by a Republican pollster affiliated with Trump that was released in April found that a majority of Republicans back a variety of cannabis reforms, including rescheduling. And, notably, they’re even more supportive of allowing states to legalize marijuana without federal interference compared to the average voter.

The Republican Party of Florida, which opposed the cannabis legalization measure on the state’s 2024 ballot, last week cheered Trump’s endorsement of Gruters to lead the national party.

“As our former chairman,” the group said of Gruters on social media after Trump’s announcement, “we know that he has what it takes to bring the GOP to new heights. He’s proven, tested, and ready to lead.”

While DeSantis’s comments on Amendment 3 earlier this month framed the legalization measure as a partisan issue, the campaign in fact divided Republicans—including DeSantis and Trump.

While the president threw his support behind legalization, saying it would be “very good” for the state, DeSantis aggressively campaigned against it, telling constituents that the measure was written by self-interested marijuana companies in an effort to corner the market. He also repeatedly argued that it would upend Florida culture, filling the streets with the smell of cannabis smoke and turning the state into something closer to California, Colorado or New York.

The governor also faced allegations of weaponizing state departments to push anti-legalization narratives through various advertisements—prompting one Democratic state senator to sue over what he claimed was an unconstitutional appropriation of tax dollars. A Florida judge later dismissed that lawsuit.

Ultimately, Amendment 3 failed to reach the necessary 60 percent threshold for passage under state law, though it received a majority of the statewide vote. Trump’s endorsement evidently had little effect, according to a poll released in the wake of the election, despite earlier predictions by associates like Roger Stone that his blessing would “guarantee victory.”

After the legalization amendment narrowly failed last November, some lawmakers—including Ingoglia, the governor’s new CFO appointee—introduced legislation making it harder to put voter-led initiatives on the ballot. While sponsors didn’t explicitly say the proposals were a response to any particular issue, arguments about the need to change the process were frequently heard in the run-up to votes on marijuana and abortion rights measures.

In May, DeSantis signed one of those bills into law last month to impose significant restrictions on the ability to put initiatives on the ballot—a plan that could impair efforts to let voters decide on marijuana legalization in coming years.

Meanwhile last week, another Trump pick, Terrence Cole, was sworn in as the next administrator of the Drug Enforcement Administration (DEA). Cole has previously voiced concerns about the dangers of marijuana and linked its use to higher suicide risk among youth.

Though Cole said during a confirmation hearing in April that examining the government’s pending marijuana rescheduling proposal would be “one of my first priorities” after taking office, marijuana didn’t appear on a list of Cole’s “strategic priorities” released last week. Instead it listed anti-trafficking enforcement, Mexican cartels, the fentanyl supply chain, drug-fueled violence, cryptocurrency, the dark web and a host of other matters.

Separately, the House Appropriations Committee last week approved a spending bill that contains provisions to block the Justice Department from rescheduling marijuana.

U.S. Department of Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. was previously vocal about his support for legalizing cannabis, as well as psychedelics therapy. But during his Senate confirmation process in February, he said that he would defer to DEA on marijuana rescheduling in his new role.

Trump picked former Florida Attorney General Pam Bondi (R) to run DOJ, and the Senate confirmed that choice. During her confirmation hearings, Bondi declined to say how she planned to navigate key marijuana policy issues. And as state attorney general, she opposed efforts to legalize medical cannabis.

Amid the stalled marijuana rescheduling process that’s carried over from the last presidential administration, congressional researchers recently reiterated that lawmakers could enact the reform themselves with “greater speed and flexibility” if they so choose, while potentially avoiding judicial challenges.

A newly formed coalition of professional athletes and entertainers, led by retired boxer Mike Tyson, also sent a letter to Trump earlier this month—thanking him for past clemency actions while emphasizing the opportunity he has to best former President Joe Biden by rescheduling marijuana, expanding pardons and freeing up banking services for licensed cannabis businesses.

Marijuana Moment is made possible with support from readers. If you rely on our cannabis advocacy journalism to stay informed, please consider a monthly Patreon pledge.

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Some Jokes To Bring A Monday Smile

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To get your vibe right for Monday – what about some laughter?

Mondays have a reputation—and not a great one. After a weekend of relaxation, the first day of the workweek often feels like a cold splash of reality. Many people find Mondays tough, groggy, and relentless. But laughter, science shows, can turn even the most sluggish Monday into a bright one. It boosts mood, reduces stress, and even improves productivity. So what better way to start your week than with a healthy dose of humor? Here are some jokes to bring a Monday smile.

RELATED: The Connection Between Country Music And Cannabis

Why did Monday apply for a job?
Because Sunday wasn’t working out.

Monday: The day all coffee dreams come true.

If each day is a gift, I’d like to return Monday.

I swear my bed and I had a moment this morning… and then Monday came between us.

Mondays are proof that weekends are way too short.

The Alarm Clock Conspiracy
This morning, I hit snooze so many times, my alarm clock started questioning our relationship.
“Are you even listening to me anymore?” it beeped.
“I just need five more minutes,” I pleaded.
“You’ve said that six times!”
I’m convinced Monday and my alarm clock are in cahoots.

The Monday Meeting
At 9:00 AM sharp, my boss cheerfully said, “Let’s kick off the week with a quick Monday meeting.”
An intern whispered, “Does he not know what day it is?”
We all sat around the table pretending to care, nodding in unison like caffeine-deprived bobbleheads.
At one point, someone asked, “Can this wait until Tuesday?”
“Why?”
“Because we’d care more tomorrow.”

The Gym Plan
I told myself I’d start going to the gym on Monday. That was six Mondays ago.
Now I just walk past the gym and wave like an old friend I owe money to.

The Coffee Dilemma
On Mondays, my coffee needs coffee.
I ordered a double espresso, and the barista asked, “Tough morning?”
“No,” I said. “Tough decade. Monday just reminded me.”

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The Motivation Meter
My phone gave me a motivational quote this morning:
“Rise and shine! You’re unstoppable!”
Clearly, my phone doesn’t know about Mondays.
Ten minutes later, it autocorrected “meeting” to “mourning.”
Even autocorrect knows what’s up.

Mondays are like math. I know they’re necessary, but I still don’t like them.

Monday is the day my coffee needs a coffee.

I survived Monday. Barely. Send snacks.

Whether you’re crawling out of bed or already knee-deep in emails, remember: Monday is a mindset. With a little humor and a lot of coffee, even the harshest start to the week can feel a little lighter. So next time you wake up dreading the alarm, crack a joke, share a laugh, and remind yourself—Monday may be tough, but you’re tougher… and funnier.



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