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The Cannabist Co Hldg (CBSTF) is a leading company in the cannabis industry, specializing in the cultivation, production, and distribution of high-quality cannabis products. With a commitment to innovation and sustainability, they have established themselves as a key player in the market. Their cutting-edge facilities and knowledgeable team ensure that they deliver top-notch products to their customers. The company's financial stability and strategic partnerships position them for continued growth and success in the ever-evolving cannabis market.
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The Cannabist Company Holdings Inc. completes private placement of US$19.5 million senior secured convertible debentures due 2027. Additionally, US$6.25 million of existing 6% Senior Secured Convertible Notes Due 2025 exchanged for new Notes.
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The Cannabist Company Holdings Inc. announces a private placement of up to US$19.5 million in 9.00% senior secured convertible debentures due 2027, with an additional US$6.25 million in exchange for existing notes. The conversion rate is 3,278.6 common shares per $1,000 principal amount of Notes, at a premium of 25% over the closing price on the Cboe Canada. The Company will receive US$15.6 million of new capital and extinguish US$5.0 million of existing notes.
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The Cannabist Company Holdings Inc. reported its financial results for Q4 and full year 2023, showing revenue of $511 million, gross profit of $179.9 million, and net loss of $174.3 million. The company improved Adjusted EBITDA and net loss over 2022, reduced debt by $30.6 million, and increased retail share to 51%. Operational highlights include new product launches and strategic partnerships. Financially, the company ended Q4 with $39.3 million in total cash, paid down $30.6 million in senior debt, and had cash from operations of $9.4 million.
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The Cannabist Company Holdings Inc. launches innovative dual-action cannabis gummies under the Hedy brand in Massachusetts, featuring two flavor layers for a unique experience. The gummies offer a swift onset with lasting effects, combining fast-acting distillate with full-spectrum distillate. Each package contains 20 pieces with a total THC content of 100mg, catering to both medical patients and adult-use customers.
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The Cannabist Company Holdings Inc. expands partnership with Airo Brands, introducing vaporizers and oils to West Virginia. Airo's products to be available at all five Cannabist locations, with further expansion planned. Positive customer feedback in Delaware led to the partnership extension. Airo's CEO praises Cannabist Company's facilities and footprint for product growth and quality commitment.
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The Cannabist Company Holdings Inc. will report its financial results for the fourth quarter and full year ended December 31, 2023 before U.S. financial markets open on Wednesday, March 13, 2024. The company management will conduct a conference call to discuss the results. Participants can access the live call via telephone by pre-registering or through a live audio webcast on the company's website. A replay of the webcast will be available on the website for 30 days.
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The Cannabist Company Holdings Inc. has announced the addition of Ciencia Labs' award-winning brands and products, including Dreamt, Luchador, and Quell, to its national brand platform. The founders of Ciencia Labs expressed excitement about the opportunity to expand their brands across the country through The Cannabist Company's retail footprint and wholesale channels.
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The Cannabist Company Holdings Inc. announced an agreement to repurchase up to US$25 million of 6.0% senior secured convertible notes due June 2025, reducing leverage and interest expense. The agreement with offshore institutional investors involves the exchange of convertible notes for common shares at specified prices and conditions. The company also obtained waivers from holders of US$34.5 million principal amount of convertible notes to complete the repurchase.
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The Cannabist Company Holdings Inc. announced a partnership with Revelry Herb Co. to introduce branded cannabis gear and premium flower products at its retail locations. The collaboration will bring Revelry's pre-roll joints to the New Jersey market and expand to other states pending regulatory approval. This partnership also includes an expansion of lifestyle products and accessories, such as smell-proof backpacks and storage cases, for The Cannabist Company's brands. Both companies are enthusiastic about the collaboration and look forward to introducing new products to customers in different markets.
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The Cannabist Company Holdings Inc. appoints David Hart as CEO and Jesse Channon as President, while Nicholas Vita retires but continues to serve as a member of the Board of Directors. The company expresses gratitude to Vita for his vision and passion, highlighting its growth to thousands of employees, 16 integrated markets, over $500 million in annual revenue, and public listing. The new leadership aims to continue the progress and evolution of the company, focusing on strengthening the balance sheet, expanding wholesale programs, and driving organic growth.
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FAQ
What is the current stock price of THE CANNABIST CO HLDG (CBSTF)?
The current stock price of THE CANNABIST CO HLDG (CBSTF) is $0.2067 as of October 15, 2024.
What is the market cap of THE CANNABIST CO HLDG (CBSTF)?
The market cap of THE CANNABIST CO HLDG (CBSTF) is approximately 119.2M.
What does The Cannabist Co Hldg (CBSTF) specialize in?
The company specializes in the cultivation, production, and distribution of high-quality cannabis products.
What sets The Cannabist Co Hldg (CBSTF) apart in the cannabis industry?
The company stands out due to its commitment to innovation, sustainability, and delivering top-notch products to its customers.
How does The Cannabist Co Hldg (CBSTF) ensure quality in its products?
The company leverages cutting-edge facilities and a knowledgeable team to ensure the high quality of its cannabis products.
What is the financial outlook for The Cannabist Co Hldg (CBSTF)?
The company's financial stability and strategic partnerships position them for continued growth and success in the cannabis market.
What is the key focus of The Cannabist Co Hldg (CBSTF) moving forward?
The company's key focus is on continued innovation, sustainability, and delivering top-notch cannabis products to its customers.
THE CANNABIST CO HLDG
OTC:CBSTF
CBSTF Rankings
CBSTF Stock Data
119.21M
390.20M
9.74%
7.85%
Drug Manufacturers - Specialty & Generic
Healthcare
United States of America
New York