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    CCHW   CA1973091079

COLUMBIA CARE INC.

(CCHW)
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Columbia Care : CEO Nicholas Vita Named “Captain of Industry” by American Trade Association for Cannabis and Hemp (ATACH)

10/21/2021 | 08:42am EST

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 today that its Chief Executive Officer, Nicholas Vita, was recognized as a 2021 “Captain of Industry”, the highest honor from the American Trade Association for Cannabis and Hemp (ATACH). Each year during the Marijuana Business Conference & Expo, the Association’s Board of Directors selects and awards an executive who has demonstrated extraordinary contributions to promoting ATACH’s mission of expanding, protecting and preserving businesses engaged in the legal trade of cannabis-based products.

“I am humbled and honored to accept the American Trade Association for Cannabis and Hemp (ATACH) annual ’Captain of Industry’ award. We have made significant strides in a transformed retail experience, innovative tech solutions and strategic growth initiatives,” said Nicholas Vita, CEO of Columbia Care. “I also want to recognize the dedication and passion of our entire Columbia Care team, who collectively make our mission in driving access, innovation and education around high-quality cannabis possible. As perceptions and regulations continue to evolve and shape the cannabis industry, we look forward to continuing the important work of building a company that leads by example, with many exciting projects in the pipeline for 2022 and beyond.”

In the last year, Vita led Columbia Care through a pivotal period of growth and innovation. The Company is rebranding its retail arm to ‘Cannabist’, offering a unique, higher experience for the modern recreational and medicinal cannabis user. Since May 2021, Columbia Care has opened eight Cannabist dispensaries across seven states, with more to come by the end of the year. Focusing on the importance of and need for innovative cannabis technology, the Company launched Forage, the first-ever cannabis discovery tool featuring a proprietary algorithm to help consumers uncover new products based on desired mood and experience. Over the last year, the Company expanded its strategic national footprint through some of the largest acquisitions in the industry including gLeaf, The Green Solution, a 34-acre cultivation site in Long Island, NY and more. Columbia Care has also enhanced its brand portfolio with multiple launches across the country including Classix, Seed & Strain and Triple Seven, all of which were thoughtfully designed and created to serve the intersection of the medical and adult use markets.

“The American Trade Association for Cannabis & Hemp proudly bestows the association’s highest honor, ATACH’s Captain of Industry Award, to Nicholas Vita of Columbia Care in recognition of extraordinary contributions to the advancement of the legal cannabis marketplace,” said Michael Bronstein, President, American Trade Association for Cannabis & Hemp (ATACH). “Under Nicholas Vita’s leadership, Columbia Care developed many of the critical early-stage, state-level markets, often charting a pathway for an entire industry that was to follow, and for this is recognized as a leader among leaders and one of the most important companies in the country.”

For more information about Columbia Care, visit www.col-care.com.

For more details about the ATACH awards please visit www.atach.org.

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 and the EU. Columbia Care operates 130 facilities including 99 dispensaries and 31 cultivation and manufacturing facilities, including those under development. Columbia Care is one of the original 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.

About ATACH

The American Trade Association for Cannabis and Hemp (ATACH) is the leading United States 501(c)(6) cannabis industry trade organization promoting the expansion and protection of legal sales of cannabis and hemp for industrial, medical, and adult use. ATACH has been named “Trade Association of the Year” and “Corporate Grassroots Organization of the Year” by Campaigns & Elections magazine. ATACH’s membership consists of the most influential businesses in the industry, fifteen organizational memorandum of understanding with state level associations and national organizations.

Caution Concerning Forward-Looking Statements

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws and reflect the Company’s current expectations regarding future events. The Company has made assumptions with regard to its ability to execute on brand and product initiatives, 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. Securityholders should review the risk factors discussed under “Risk Factors” in Columbia Care’s Annual Information Form dated March 31, 2021, filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com and described from time to time in documents filed by the Company with Canadian securities regulatory authorities.


ę Business Wire 2021
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Financials (USD)
Sales 2021 474 M - -
Net income 2021 -66,2 M - -
Net Debt 2021 387 M - -
P/E ratio 2021 -15,6x
Yield 2021 -
Capitalization 1 097 M 1 102 M -
EV / Sales 2021 3,13x
EV / Sales 2022 1,97x
Nbr of Employees -
Free-Float 58,6%
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Mean consensus BUY
Number of Analysts 11
Last Close Price 2,96 $
Average target price 10,34 $
Spread / Average Target 250%
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Managers and Directors
Nicholas Keane Vita Vice Chairman & Chief Executive Officer
Michael Livingstone Chief Financial Officer, VP & Controller
Michael Abbott Executive Chairman
Rosemary Mazanet Chief Scientific Officer
David James Hart Chief Operating Officer
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