The Cannabist Company Holdings Inc. - CCHWF STOCK NEWS

Columbia Care Inc. (OTCQX: CCHWF) has appointed Derek Watson as its new Chief Financial Officer. Watson brings over 30 years of diverse finance and leadership experience, previously serving in senior roles at various consumer companies. Underlining the significance of the CFO role, CEO Nicholas Vita emphasized its importance in guiding the company through evolving banking and investment landscapes in the cannabis industry. Columbia Care, a leader in the cannabis market with operations in 18 U.S. jurisdictions, continues to focus on growth opportunities.

Columbia Care (OTCQX: CCHWF) is launching a Consent Solicitation for noteholders of its senior secured notes, aimed at amending the trust indenture to enhance borrowing capacity. The record date for eligible noteholders is set for January 4, 2022, with a consent deadline of January 21, 2022. Majority support from noteholders is already confirmed, allowing for anticipated completion by the deadline. A consent fee of US$10.00 per US$1,000 principal of notes will be provided to consenting noteholders.

Columbia Care announces the opening of its fourth dispensary in Virginia Beach, bringing the total to 12 dispensaries planned across Virginia by the end of 2022. This new location is part of the company’s strategy to meet the growing demand for high-quality cannabis in the state. Columbia Care currently serves nearly 40,000 registered medical patients and operates approximately 148,000 square feet in cultivation and production capacity. The company's expansion reflects its commitment to making cannabis accessible as discussions around adult use progress in Virginia.

Columbia Care (OTCQX: CCHWF) announced its launch as the first company to produce medical cannabis extract vaporizer pens in the UK, with products licensed by the MHRA and Home Office. The new Ceed brand vaporizer pens offer four formulations for UK patients to aid in chronic pain management, targeting various onset periods and effects. This expands Columbia Care's portfolio, which already includes tinctures and solid-fill capsules, enhancing patient access to customized cannabinoid therapy.

Columbia Care has successfully rebranded its retail locations in Florida to the new Cannabist design, marking a significant step in its expansion strategy. This transition includes 14 Cannabist stores across Florida, aimed at enhancing customer experience and product quality. Over 100 products, such as flower and edibles, are now available for more than 636,000 qualified patients in the state. The company plans to leverage innovative technology for a personalized shopping experience. Columbia Care's cultivation capacity exceeds 100,000 square feet, with over 38,000 square feet in greenhouse production.

Columbia Care (CCHWF) announces the launch of the Tyson 2.0 cannabis line in Colorado on November 26. This collaboration with boxing legend Mike Tyson aims to introduce a range of cannabis products, including various strains of flower. The launch marks an expansion plan, with products expected to roll out in Maryland, Pennsylvania, and Virginia soon after. To celebrate, a giveaway event is planned, featuring exclusive prizes. Columbia Care operates 131 facilities and continues to focus on growth in the cannabis market.

Columbia Care reported record financial results for Q3 2021 with revenues of $132.3 million, a 144% increase year-over-year and 21% sequential growth. Adjusted gross profit reached $64.5 million (up 205% YoY), achieving an adjusted gross margin of 49%.

Adjusted EBITDA was $31.0 million, reflecting a 634% YoY increase. The company revised its full-year 2021 revenue guidance to $470M - $485M due to regulatory delays and market dynamics. Key market highlights include significant growth in Florida and the opening of new dispensaries in New Jersey and Missouri.