The Cannabist Company Announces Closing of US$25 Million Private Placement
- The successful private placement will provide The Cannabist Company with additional funds to reduce debt and support its operations.
- The Company's ability to raise significant funds through the private placement demonstrates investor confidence in its business model and potential for growth.
- No negative business takes were identified in the given PR.
The Investors will have the option to purchase
Private Placement Offering
Each Unit consists of one Common Share (or Common Share equivalent) and a one half of one common share purchase warrant of the Company (each full warrant, a “Warrant”). Each Warrant entitles the holder to acquire one Common Share of the Company at a price of
The Company intends to use the proceeds from the Offering to reduce its outstanding indebtedness and for general corporate purposes.
ATB Capital Markets Inc. acted as sole placement agent in connection with the Offering.
The Common Shares to be sold in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state or other applicable jurisdiction’s securities laws and may not be offered or sold in
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About The Cannabist Company (f/k/a Columbia Care)
The Cannabist Company, formerly known as Columbia Care, is one of the largest and most experienced cultivators, manufacturers and providers of cannabis products and related services, with licenses in 16 U.S. jurisdictions. The Company operates 125 facilities including 94 dispensaries and 31 cultivation and manufacturing facilities, including those under development. Columbia Care, now The Cannabist Company, is one of the original multi-state providers of cannabis in the
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 Offering and use of proceeds thereof, the Investor Option and proceeds thereof and on the Company’s ability to execute on retail, wholesale, brand and product initiatives. 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. In addition, 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 Canadian and
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Investor Contact
Lee Ann Evans
SVP, Capital Markets
investor@cannabistcompany.com
Media Contact
Lindsay Wilson
SVP, Communications
media@cannabistcompany.com
Source: The Cannabist Company Holdings Inc.