Columbia Care Announces Date for Voluntary Delisting of Common Shares from CSE

Rhea-AI Summary

Columbia Care Inc. (NEO: CCHW) voluntarily delists its common shares from the Canadian Securities Exchange (CSE) but will continue trading on Cboe Canada, the Company’s primary exchange. This decision aims to streamline trading activity, enhance price formation, and provide greater transparency for investors.

CCHW Common Shares Will Be Voluntarily Delisted from CSE Following Market Close on Wednesday, August 2^nd

CCHW Common Shares Will Continue Trading on Cboe Canada, Company’s Long-Standing Primary Exchange

NEW YORK--(BUSINESS WIRE)-- Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”), one of the largest and most experienced cultivators, manufacturers and retailers of cannabis products in the U.S., today announced that, further to its press release dated July 31, 2023, it will voluntarily delist its common shares from the facilities of the Canadian Securities Exchange (“CSE”), effective as of market close on August 2, 2023.

Columbia Care will continue trading on the Cboe Canada, the new business name of the NEO Exchange. Cboe Canada will remain the Company’s primary securities exchange, as it has been since the Company’s initial public listing. As one of two U.S. multistate cannabis operators listed on a senior securities exchange, the Company remains committed to maintaining its unique access to institutional investors, including inclusion in MSCI¹ equity index benchmarks and their corresponding investors. Management of the Company expects that focusing trading activity on a single, senior exchange will allow for a more orderly closing price formation and greater transparency for the Company and its investors.

About Columbia Care

Columbia Care is one of the largest and most experienced cultivators, manufacturers and retailers of cannabis products and related services, with licenses in 16 U.S. jurisdictions. Columbia Care operates 125 facilities including 94 dispensaries and 31 cultivation and manufacturing facilities, including those under development. Columbia Care is one of the original multi-state providers of medical 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 on Columbia Care, please visit www.columbia.care.

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. Statements concerning Columbia Care’s objectives, goals, strategies, priorities, intentions, plans, beliefs, expectations and estimates, and the business, operations, financial performance and condition of the Company are forward-looking statements. The words “believe”, “expect”, “anticipate”, “estimate”, “intend”, “may”, “will”, “would”, “could”, “should”, “continue”, “plan”, “goal”, “objective”, and similar expressions and the negative of such expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

Forward-looking statements may relate to future financial conditions, results of operations, plans, objectives, performance or business developments. These statements speak only as at the date they are made and are based on information currently available and on the then current expectations. Holders of securities of the Company are cautioned that forward-looking statements are not based on historical facts but instead are based on reasonable assumptions and estimates of management of the Company at the time they were provided or made and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, as applicable, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Securityholders should review the risk factors discussed under “Risk Factors” in Columbia Care’s Form 10-K for the year ended December 31, 2022, as filed with the applicable securities regulatory authorities and as also described from time to time in other documents filed by the Company with U.S. and Canadian securities regulatory authorities.

The purpose of forward-looking statements is to provide the reader with a description of management’s expectations, and such forward-looking statements may not be appropriate for any other purpose. In particular, but without limiting the foregoing, disclosure in this press release regarding the impact of delisting from the CSE as well as statements regarding the Company’s objectives, plans and goals, including future operating results and economic performance may make reference to or involve forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. A number of factors could cause actual events, performance or results to differ materially from what is projected in the forward-looking statements. No undue reliance should be placed on forward-looking statements contained in this press release. Such forward-looking statements are made as of the date of this press release. Columbia Care undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The Company’s forward-looking statements are expressly qualified in their entirety by this cautionary statement.

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¹ Columbia Care is currently an active component of the MSCI World Micro Cap Index.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230731450476/en/

Investor Contact

Lee Ann Evans

SVP, Capital Markets

ir@col-care.com



Media Contact

Lindsay Wilson

SVP, Communications

+1.978.662.2038

media@col-care.com

Source: Columbia Care Inc.

FAQ

Why is Columbia Care delisting from the Canadian Securities Exchange?

Columbia Care is delisting from the CSE to focus trading activity on a single, senior exchange, which is expected to allow for a more orderly closing price formation and greater transparency for the Company and its investors.

Will Columbia Care common shares still be available for trading after delisting from CSE?

Yes, Columbia Care common shares will continue trading on Cboe Canada, the new business name of the NEO Exchange, which remains the Company’s primary securities exchange.

What is the impact of this delisting on Columbia Care's access to institutional investors?

The Company remains committed to maintaining its unique access to institutional investors, including inclusion in MSCI equity index benchmarks and their corresponding investors.

When will the delisting from CSE take effect?

The delisting of CCHW common shares from the CSE will be effective as of market close on August 2, 2023.