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Columbia Care Continues Footprint Expansion in Virginia with New Dispensary Opening in Richmond
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Columbia Care Inc. has launched its fifth dispensary in Virginia, named Cannabist Carytown, located at 3100 W Cary Street in Richmond. This is the company’s 85th dispensary across the U.S., responding to the growing demand for cannabis due to Virginia's expanding medical program, which has seen registrations increase to over 45,000 patients since July 1. Columbia Care operates 12 dispensaries in Virginia and nearly 148,000 square feet of cultivation capacity. A new location in Williamsburg is expected soon, pending approval.
Positive
Launch of Cannabist Carytown, the fifth dispensary in Virginia, expanding the retail footprint.
Virginia's medical cannabis program has grown significantly, increasing Columbia Care's potential market.
Cannabist Carytown carries a diverse range of products, enhancing customer choice.
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None.
Cannabist Carytown is Company’s 5th of 12 Planned Dispensaries; Will Serve Growing Richmond Patient Base
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 it has opened Cannabist Carytown on 3100 W Cary Street in Richmond, the Company’s 85th active dispensary nationwide and fifth in Virginia.
“Virginia has the most patient-accessible program in the country, so we’re proud to make another location available to those who need it,” said Jesse Channon, Chief Growth Officer, Columbia Care. “Virginia’s medical program has grown nearly six times in size in less than two years, which shows an increasing demand in product and the need for more dispensaries. Since the new policy change that took effect July 1, we have seen registration count increase to a base of more than 45,000 patients across the state. The Cannabist retail model offers a welcoming environment for anyone who wants to learn more about the power of this incredible plant.”
Cannabist Carytown carries a variety of Columbia Care products including Classix and Seed & Strain. Another Cannabist location is expected to open in Williamsburg in the coming weeks, pending Board of Pharmacy approval. Columbia Care and its subsidiary entities, together, are licensed to operate a market-leading total of 12 dispensaries in Virginia. To support this retail footprint, the Company operates nearly 148,000 square feet of cultivation and production capacity and has a fleet of delivery vehicles able to serve the entire state.
About Columbia Care 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. 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, Hedy, gLeaf, Classix, Press, Amber and Platinum Label CBD. 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. 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. 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 dated May 9, 2022, filed with the applicable securities regulatory authorities and described from time to time in documents filed by the Company with Canadian and U.S. securities regulatory authorities.
