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    CCHW   CA1973091079


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Columbia Care : Celebrates Transition to Cannabist in Downtown Boston Co-Located Adult-Use and Medical Dispensary

09/30/2021 | 07:02am EST

Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”), announced today it has received approval from the Cannabis Control Commission (CCC) and the Boston Cannabis Board (BCB) to commence operations as Cannabist at 21 Milk Street in downtown Boston, its co-located adult-use and medical dispensary previously known as Patriot Care. Cannabist Boston is one of three dispensaries operated by Columbia Care in Massachusetts and is the eighth Cannabist dispensary to open nationwide, as the Company continues the transformation of its retail storefront to the Cannabist brand in all markets.

To celebrate the transformation, a ribbon cutting ceremony will be held on Thursday, October 7 at 9:45 a.m. Patients and customers can expect festivities including music by Red Sox DJ MoneyMav and specials that will run throughout the weekend.

“We are excited to bring the true Cannabist experience to Bostonians,” said Jesse Channon, Chief Growth Officer of Columbia Care. “We have received a positive response from customers and patients who experienced this transformation at our Lowell location, and look forward to offering the same ‘higher experience’ to the cannabis community in the city of Boston. We’re incredibly grateful to the Cannabis Control Commission, Boston Cannabis Board and all the local officials who helped us bring this initiative across the finish line.”

Since the start of adult-use sales in the Company’s Boston location on August 10, the revenue mix has quickly evolved to roughly half medical and half adult-use. In addition to its downtown Boston location, patients and customers can also access co-located dispensaries in Lowell and Greenfield. The three dispensaries feature several of the Company's signature brands, including Seed & Strain, Triple Seven, Amber and PRESS. Also available in Lowell and Boston is Forage, Columbia Care’s proprietary online cannabis discovery tool that suggests curated products depending on the customer’s or patient’s desired mood and experience.

As part of the Company’s commitment to supporting BIPOC communities who have been disproportionately impacted by cannabis prohibition, its three locations in Massachusetts have been actively partnering with local organizations to support civic engagement efforts, legal services and educational access programs.

Adult use shopping in Boston is by appointment only and customers can make those appointments here: https://Cannabist.shopping.

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, Plant Sugar, 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 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 -17,0x
Yield 2021 -
Capitalization 1 201 M 1 200 M -
EV / Sales 2021 3,35x
EV / Sales 2022 2,11x
Nbr of Employees -
Free-Float 58,6%
Duration : Period :
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Mean consensus BUY
Number of Analysts 11
Last Close Price 3,24 $
Average target price 10,34 $
Spread / Average Target 219%
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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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