The Cannabist Company and Bloom Introduce Cutting Edge Vape Brand to New East Coast Markets

Rhea-AI Summary

The Cannabist Company (CBSTF) announces a new partnership with Bloom to launch Bloom's innovative vape products in New Jersey and Virginia. This collaboration marks the 6th and 7th states where Bloom is available. The Cannabist Company will leverage its premium flower and Bloom's award-winning strain formulas to produce Bloom's Classic and Seasonal Live strains for both the Bloom Surf and 510 vape cartridges. These products will be available in New Jersey dispensaries in Q3 2024 and in Virginia dispensaries in Q4 2024, with availability in wholesale channels following the launch. The partnership aims to provide a vaping experience that replicates flower consumption, using Bloom's proprietary hardware technology.

Positive

• Partnership with Bloom to expand product offerings in New Jersey and Virginia.
• Introduction of Bloom's innovative vape technology to new markets.
• Availability in 6th and 7th states for Bloom products.
• Utilization of premium flower combined with award-winning strain formulas.
• Launch of Bloom products in Q3 2024 in New Jersey and Q4 2024 in Virginia.
• Bloom products available in Cannabist and gLeaf dispensaries and wholesale channels.
• Bloom Surf device ranks as a top five best-selling all-in-one vape in the nation.

Negative

• None.

Partnership To Launch Industry-Leading Bloom Vapes in New Jersey and Virginia

NEW YORK--(BUSINESS WIRE)-- The Cannabist Company (Cboe CA: CBST) (OTCQX: CBSTF) (FSE: 3LP) (“The Cannabist Company” or the “Company”), one of the most experienced cultivators, manufacturers and retailers of cannabis products in the U.S., announced today a new multi-state partnership with The Bloom Brand (Bloom), a national leader in cannabis concentrates and vape technology. New Jersey and Virginia will be the first two markets featuring this collaboration. This will mark the 6th and 7th states where Bloom products are available.

The partnership will launch Bloom’s innovative and proprietary hardware technology designed to provide a vaping experience that replicates flower consumption. The Cannabist Company will utilize its premium flower combined with Bloom’s award-winning strain formulas to produce Bloom’s Classic and Seasonal Live strains for the Bloom Surf and 510 vape cartridges, both in 0.5g and 1.0g formats. Bloom products will hit shelves at the two Cannabist dispensaries in New Jersey in Q3 2024 as well as at the eight Cannabist and three gLeaf dispensaries in Virginia in Q4 2024. Bloom will also be available through the Company’s wholesale channels in both states once launched.

“We’re excited to welcome Bloom into the Cannabist family of brand partners and can’t wait to introduce our customers and patients to these amazing products. It’s great working with like-minded, and innovative, companies like Bloom, that have a strong passion and dedication to providing an exceptional cannabis experience,” said Jesse Channon, President, The Cannabist Company. “These brand partnerships continue to help support our efforts to leverage the cultivation scale we have in markets and help bring these unparalleled products to our patients and customers through our retail footprint and wholesale channels. We know the markets will love taking in the true flavor of our flower through Bloom’s vape devices and strain formulations.”

“As Bloom continues to grow, it is imperative we partner with best-in-class operators, like The Cannabist Company. We believe our success is best achieved through the strength of meaningful partnerships where there is a shared understanding of passion and innovation,” said Vitaly Meek, Co-CEO and Co-Founder at Bloom. “The Cannabist Company’s strong production and manufacturing capabilities combined with its dispensary network and love of the plant make for the perfect pairing.”

Founded in 2014, Bloom’s mission is to change the way cannabis is consumed and how cannabis consumption is perceived. Bloom has been at the forefront of innovation in the cannabis industry focused on providing consumers with an unrivaled vaping experience that replicates smoking flower. Their proprietary Surf device was meticulously designed to maintain the rich terpene profiles of their formulations while being stylish and convenient. Launched in 2021, the Surf has quickly grown in popularity and is a top five best-selling all-one-device in the nation, while Bloom is a top 10 vape brand overall, according to BDSA data. Currently operating in California, Illinois, Michigan, New Mexico and New York, Bloom is the number one all-in-one vape in New Mexico and holds the number two position in California, respectively.

For more information, visit cannabistcompany.com and thebloombrand.com.

About The Cannabist Company (f/k/a Columbia Care)

The Cannabist Company, formerly known as Columbia Care, is one of the most experienced cultivators, manufacturers and providers of cannabis products and related services, with licenses in 14 U.S. jurisdictions. The Company operates 104 facilities¹ including 81 dispensaries and 23 cultivation and manufacturing facilities, including those under development. Columbia Care, now The Cannabist Company, is one of the original multi-state providers of cannabis in the U.S. and now delivers industry-leading products and services to both the medical and adult-use markets. In 2021, the Company launched Cannabist, its retail brand, creating a national dispensary network that leverages proprietary technology platforms. The company offers products spanning flower, edibles, oils and tablets, and manufactures popular brands including Seed & Strain, Triple Seven, Hedy, gLeaf, Classix, Press, and Amber. For more information, please visit www.cannabistcompany.com.

About Bloom Brand

Founded in 2014 in Los Angeles by a team of immigrants and BIPOC, The Bloom Brand has since grown to multi-state leader in quality concentrates and innovative vape technology in the United States. Bloom implemented its proprietary molecular distillation method in 2015 and launched its first proprietary enclosed, single-use vape system the following year. Since then, Bloom has won awards for oil quality and has continued to push hardware advancements that replicate the experience of consuming flower in a vape format. Currently operating in California, Illinois, Michigan, New York, New Mexico, Bloom continues to set a high standard for consistent, connoisseur-pleasing strains and solventless vapable concentrates.

Caution Concerning Forward Looking Statements

This press release contains certain statements that constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws and reflect the Company’s current expectations regarding future events. Forward-looking statements or information contained in this release include, but are not limited to, statements or information with respect to the Company’s ability to execute on retail, wholesale, brand and product initiatives. These forward-looking statements or information, which although considered reasonable by the Company, may prove to be incorrect and are subject to known and unknown risks and uncertainties that may cause actual results, performance or achievements of the Company to be materially different from those expressed or implied by any forward-looking information. In addition, securityholders should review the risk factors discussed under “Risk Factors” in Columbia Care’s Form 10-K for the year ended December 31, 2023, as filed with Canadian and U.S. securities regulatory authorities and described from time to time in subsequent documents filed with applicable securities regulatory authorities.

1 Pro forma facility and market count assuming the closure of announced divesture transactions as of June 2024. Please refer to the “Caution Concerning Forward-Looking Statements” for more information; does not include 5 non-operational retail locations and 4 non-operational cultivation and manufacturing facilities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240626322940/en/

Investors

Lee Ann Evans

SVP, Capital Markets

investor@cannabistcompany.com

Media

Lindsay Wilson

SVP, Communications

media@cannabistcompany.com

Bloom Contact

Allison Pankow

CMO

allison@thebloombrand.com

Source: The Cannabist Company Holdings Inc.

FAQ

What new markets are The Cannabist Company and Bloom entering with their partnership?

The Cannabist Company and Bloom are entering the New Jersey and Virginia markets with their new partnership.

When will Bloom products be available in New Jersey dispensaries?

Bloom products will be available in New Jersey dispensaries in Q3 2024.

What are the Bloom products that The Cannabist Company will offer?

The Cannabist Company will offer Bloom's Classic and Seasonal Live strains for both the Bloom Surf and 510 vape cartridges in 0.5g and 1.0g formats.

What is the stock symbol for The Cannabist Company?

The stock symbol for The Cannabist Company is CBSTF.

When will Bloom products be available in Virginia dispensaries?

Bloom products will be available in Virginia dispensaries in Q4 2024.

Where else will Bloom products be available besides dispensaries?

Besides dispensaries, Bloom products will also be available through The Cannabist Company’s wholesale channels in New Jersey and Virginia.