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Columbia Care (CCHW, CCHWF) has launched new PRESS 2.0 hard-pressed tablets in five U.S. markets: Delaware, Massachusetts, New Jersey, Virginia, and West Virginia. These products, designed for morning, afternoon, and night usage, offer specific formulations to meet consumer needs. The PRESS brand aims to provide discreet cannabis consumption with a range of THC, CBD, and CBG ratios. Columbia Care operates 128 facilities with a diverse portfolio in the cannabis sector, signifying ongoing innovation in serving medical and adult-use consumers.
Columbia Care (NEO: CCHW) has launched a new cannabis-infused edibles brand, Hedy, in six states: Arizona, Colorado, Delaware, Massachusetts, Missouri, and Virginia. Hedy offers fast-acting chocolates and gummies, available in flavors like cherry lime, green apple, and watermelon, with THC dosages of 5mg or 10mg. The brand aims to provide a consistent cannabis experience across markets. Columbia Care plans to expand Hedy's availability and convert existing brands to Hedy over time.
Columbia Care Inc. (CCHW, CCHWF) has launched its Triple Seven cannabis brand in Pennsylvania, expanding its market presence to ten states. The brand features refreshed packaging and nearly a dozen product forms including flower, pre-rolls, and vapes. Anticipated availability in Utah, Virginia, and Washington, D.C. is expected by Q4, subject to regulatory approvals. Triple Seven has also garnered multiple awards in various cannabis competitions, showcasing its high-quality products. Columbia Care operates 131 facilities and offers a variety of cannabis products across the U.S.
Columbia Care has launched its first medical cannabis dispensary, Cannabist Williamstown, in West Virginia, marking a significant milestone in the state's medical cannabis program. This is the first of five planned locations for the year, with three more dispensaries expected to open in the spring. The company currently holds five dispensary licenses in West Virginia and began cultivation operations in July 2021. Cannabist Williamstown offers products from Columbia Care's brands, including Seed & Strain, with plans for future product introductions.
Columbia Care announced the closure of its bought deal private placement offering, issuing 3,220,000 common shares at C$9.00 per share, raising gross proceeds of C$28,980,000. The offering was underwritten by Canaccord Genuity Corp., who fully exercised its option. The shares were sold under private placement exemptions in Canada and to qualified institutional buyers in the U.S. The net proceeds will be used for working capital and general corporate purposes. The shares are subject to a customary four-month hold period under Canadian securities laws.
Columbia Care has been awarded five medical dispensary permits by the West Virginia Office of Medical Cannabis, enhancing its retail presence in the state. Columbia Care already holds one of the ten cannabis processing licenses and cultivation licenses. The new permits will allow operations in Beckley, Fayetteville, Morgantown, St. Albans, and Williamstown, while a permit granted to Green Leaf Medical will bolster its presence in Charleston. This expansion aims to leverage patient-focused services and products across the state, further establishing Columbia Care's market position.
Columbia Care (NEO: CCHW) has received a provisional license for adult-use retail sales at its Patriot Care dispensary in Boston, allowing it to expand operations. The Boston Zoning Board approved a zoning permit for the co-located dispensary in December. CEO Nicholas Vita emphasized their commitment to quality and community engagement. The company operates 108 facilities across the U.S. and EU, offering a range of cannabis products. With this license, Columbia Care aims to finalize operations soon, reinforcing its position in the rapidly growing cannabis market.
Columbia Care has successfully completed a bought deal public offering, raising C$149,508,625 by issuing 18,572,500 common shares at C$8.05 each. This offering included an over-allotment option fully exercised by underwriters. The proceeds will be utilized for working capital and general corporate purposes. The offering was managed by Canaccord Genuity Corp. and ATB Capital Markets Inc., among others, and conducted across Canada, excluding Québec.
