The Cannabist Company Continues Virginia Expansion with the Opening of Cannabist Richmond

Rhea-AI Summary

The Cannabist Company Holdings has expanded its footprint in Virginia by opening its 11th dispensary, Cannabist Richmond, located at 4320 S Laburnum Ave. This new location aims to serve registered medical patients, offering a variety of cannabis products including flower, pre-rolls, edibles, and concentrates under brands like Classix, gLeaf, Hedy, Press, Triple Seven, and Seed & Strain. The company's proprietary retail technology will enhance the customer experience through educational resources and personalized recommendations. The Cannabist Company operates nearly 148,000 square feet of cultivation and manufacturing capacity in Virginia and maintains a retail presence in several major cities.

Positive

• Opening of 11th dispensary in Virginia expands market presence.
• Location in Richmond aims to meet growing patient needs.
• Diverse product offerings including flower, pre-rolls, edibles, and concentrates.
• Utilization of proprietary retail technology for enhanced shopping experience.
• Nearly 148,000 square feet of cultivation and manufacturing in Virginia.
• Strong commitment to patient access, education, and community engagement.

Negative

• No specific financial data provided regarding the new dispensary's impact.
• Potential operational costs associated with new dispensary not disclosed.
• No mention of profitability or revenue expectations for Cannabist Richmond.

11th Dispensary in Virginia Expands Access to Quality Cannabis Products for Patients

NEW YORK--(BUSINESS WIRE)-- The Cannabist Company Holdings Inc. (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., today announced it has opened its newest dispensary in Richmond, Virginia. Cannabist Richmond, located at 4320 S Laburnum Ave., will serve registered medical patients.

“We are thrilled to expand our presence in Virginia with the opening of Cannabist Richmond. This new location will allow us to support the Richmond community and the growing needs of our patients by offering even greater access to our high-quality and diverse cannabis products and exceptional customer service,” said Jesse Channon, President, The Cannabist Company. “Our commitment to patient access, education, and community engagement remains at the forefront of our expansion efforts, and we are grateful for the support from the Richmond community. We look forward to fostering strong relationships and enhancing the cannabis experience for our patients.”

The Cannabist Company operates nearly 148,000 square feet of cultivation and manufacturing capacity in Virginia and has a retail presence in several of the most populated cities across the state. Cannabist Richmond will offer a variety of products such as flower, pre-rolls, edibles, and concentrates, and will carry Cannabist Company brands including Classix, gLeaf, Hedy, Press, Triple Seven and Seed & Strain. The dispensary will also feature the company's proprietary retail technology, which enhances the shopping experience by providing educational resources and personalized product recommendations.

For more information, visit cannabistcompany.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 15 U.S. jurisdictions. The Company operates 121 facilities including 90 dispensaries and 31 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 https://www.cannabistcompany.com/.

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 in Virginia. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240611736241/en/

Investors

Lee Ann Evans

SVP, Capital Markets

investor@cannabistcompany.com



Media

Lindsay Wilson

SVP, Communications

media@cannabistcompany.com

Source: The Cannabist Company Holdings Inc.

FAQ

What is the significance of the Cannabist Company's new dispensary in Richmond?

The new dispensary in Richmond is the 11th in Virginia, expanding access to quality cannabis products for registered medical patients.

What types of products will Cannabist Richmond offer?

Cannabist Richmond will offer flower, pre-rolls, edibles, and concentrates from brands like Classix, gLeaf, Hedy, Press, Triple Seven, and Seed & Strain.

How does Cannabist Richmond enhance the shopping experience?

Cannabist Richmond features the company's proprietary retail technology, providing educational resources and personalized product recommendations.

How much cultivation and manufacturing capacity does the Cannabist Company have in Virginia?

The Cannabist Company operates nearly 148,000 square feet of cultivation and manufacturing capacity in Virginia.

What is the address of the new Cannabist Richmond dispensary?

The new Cannabist Richmond dispensary is located at 4320 S Laburnum Ave, Richmond, Virginia.