Columbia Care Receives Provisional License for Adult Use at its Patriot Care Dispensary in Downtown Boston

Rhea-AI Summary

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.

Positive

• Awarded provisional license for adult-use sales at Boston dispensary.
• Reflects commitment to community engagement and product quality.
• Expansion into adult-use market enhances revenue potential.
• Currently operates 108 facilities including medical and adult-use dispensaries.

Negative

• None.

Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”) announced today it was awarded a provisional license from the Massachusetts Cannabis Control Commission for adult use retail sales at its medical marijuana dispensary, operated under Patriot Care, at 21 Milk Street in downtown Boston. In December, the Boston Zoning Board of Appeal approved a zoning permit that allows Patriot Care to expand its existing dispensary to include a co-located adult-use dispensary.

“This exciting news brings us one step closer to our goal of offering the same product quality and integrity to the adult use community that we provide to our medical patients. As the first co-located medical and adult-use dispensary in Boston, we are committed to establishing the benchmark of deep community engagement to help make our neighborhoods stronger and more vibrant. We are eager to get started and are grateful to those who have supported us along the way,” said Nicholas Vita, CEO of Columbia Care.

With this provisional license in place, Columbia Care will move toward final licensure and permission to commence operations.

About Columbia Care

Columbia Care is one of the largest and most experienced cultivators, manufacturers and providers of medical and adult use cannabis products and related services with licenses in 18 US jurisdictions and the EU. Columbia Care currently operates 108 facilitiesⁱ including 81 dispensaries and 27 cultivation and manufacturing facilities. Columbia Care is one of the original providers of medical cannabis in the United States, and continues to deliver an industry-leading, patient-centered medicinal cannabis operation that has quickly expanded into the adult use market as a premier operator. The company currently offers products spanning flower, edibles, oils, and tablets, and manufactures popular brands including Seed & Strain, Amber and Platinum Label CBD. With more than four million sales transactions since its inception in 2012, Columbia Care is known for setting the standard for compassion, professionalism, quality, care, and innovation in the rapidly expanding cannabis industry. For more information on Columbia Care, please visit www.col-care.com.

Caution Concerning Forward-Looking Statements

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws and reflect the Company's current expectations regarding future events. The Company has made assumptions with regard to the expansion of its Boston dispensary, which although considered reasonable by the Company at the time of preparation, may prove to be incorrect, as well as other risk factors discussed under "Risk Factors" in Columbia Care's Annual Information Form dated March 31, 2020, filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com and described from time to time in documents filed by the Company with Canadian securities regulatory authorities.

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i} Pro forma facilities either open or under development

View source version on businesswire.com: https://www.businesswire.com/news/home/20210115005111/en/

FAQ

What is the significance of Columbia Care's provisional license awarded on October 1, 2023?

The provisional license allows Columbia Care to begin adult-use retail sales at its Boston dispensary, marking an expansion into the adult-use market.

How many facilities does Columbia Care operate as of 2023?

Columbia Care operates 108 facilities, including 81 dispensaries and 27 cultivation and manufacturing sites.

What are the future plans for Columbia Care after the provisional license?

Columbia Care plans to attain final licensure and commence adult-use operations at its dispensary in Boston.

What brands does Columbia Care offer in its product lineup?

Columbia Care offers a range of products under popular brands like Seed & Strain, Amber, and Platinum Label CBD.