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Columbia Care Celebrates Historic Launch of Adult Use Sales at its Two New Jersey Cannabist Dispensaries
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Columbia Care Part of First Group of 7 Operators to Receive Approval to Begin Adult Use Sales
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 providers of cannabis products in the U.S., announced that it will begin adult use sales today at its two New Jersey dispensaries, both now under the Cannabist brand, in Deptford and Vineland. Cannabist Deptford is located at 1692 Clements Bridge Road in Deptford; Cannabist Vineland is located at 1062 N. Delsea Dr.
“This is a momentous time for the voters of the Garden State who have been looking forward to adult use sales, giving new meaning to the phrase ‘good things come to those who wait’,” said Nicholas Vita, CEO of Columbia Care. “We are grateful to the New Jersey Cannabis Regulatory Commission for giving us the green light to begin sales of our high quality cannabis products to recreational customers on Day One for New Jersey, and we are thankful to the local officials and communities for their continued support. New Jersey is the first of the next wave of east coast states to launch adult use, and we are excited to grow and evolve alongside new social equity entrepreneurs who will help make this local industry a success.”
Both Deptford and Vineland locations will open for adult use sales with limited hours, which will expand as demand and market dynamics evolve. Each location will offer medical-only hours, along with medical-only parking spots, pick-up lines and dedicated phone lines to ensure that patient access is unaffected with the onset of adult use sales.
The adult use menu will launch with some of the Company’s most popular flower strains, available in both 3.5g and 7.5 g packages, as well as two vape options. New products and form factors, including concentrated oils, resin, tinctures, lozenges, and soft chews will be added to the adult use menu, as well, after completing the state’s third party testing requirement.
Beyond its two existing dispensaries in Deptford and Vineland, Columbia Care is licensed to operate a third retail location, which is in development. The Company currently operates a 50,000-square-foot cultivation and production facility in Vineland, with a second Vineland facility currently in development that will provide 270,000 square feet of additional canopy, manufacturing and distribution space, pending regulatory approval.
Columbia Care will be donating a portion of the proceeds from the Company’s first adult sales to the Shiloh Baptist Church in Vineland to support their re-entry program.
Columbia Care is one of the largest and most experienced cultivators, manufacturers and providers of cannabis products and related services, with licenses in 18 U.S. jurisdictions and the EU. Columbia Care operates 131 facilities including 99 dispensaries and 32 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 new 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, gLeaf, Classix, Press, Amber and Platinum Label CBD. 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” 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 New Jersey. 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. These risks, uncertainties and other factors include, among others, favorable operating and economic conditions; obtaining and maintaining all required licenses and permits; favorable production levels and sustainable costs from the Company’s operations; and the level of demand for cannabis products, including the Company’s products sold by third parties. In addition, securityholders should review the risk factors discussed under “Risk Factors” in Columbia Care’s Form 10-K dated March 31, 2022, filed with U.S. Securities and Exchange Commission and with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com and as otherwise described from time to time in documents filed by the Company with Canadian and U.S. securities regulatory authorities.
