Columbia Care to Report Fourth Quarter and Full Year 2022 Results on March 29, 2023
Feb. 27, 2023– 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 retailers of cannabis products in the U.S., today announced that it has mutually agreed with Cresco Labs (CSE: CL) (OTCQX: CRLBF) (“Cresco Labs” and together with Columbia Care, the “Companies”) to extend the outside date to complete the proposed acquisition by Cresco Labs of Columbia Care from March 31, 2023 to June 30, 2023. The extension will allow the Companies additional time to finalize divestiture agreements and obtain the regulatory approvals required to close. The agreement amending the outside date in the definitive arrangement agreement between the Companies announced in March of 2022 will be filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
“We continue to make meaningful progress on the remaining divestitures and look forward to making those announcements. We are driving operational efficiencies, enhancing market-level scale to offset pricing pressure, and demonstrating leadership in several of the fastest growing markets in the industry, such as New Jersey, Virginia and West Virginia. These efforts will enable the combined company to leverage Columbia Care’s leading retail footprint while maintaining Cresco’s wholesale leadership. We are grateful to the entire Columbia Care team for their ongoing commitment to driving our business forward in advance of the merger,” said Nicholas Vita, CEO of Columbia Care.
Additionally, Columbia Care announced that it will report its financial results for the fourth quarter and full year ended December 31, 2022 before U.S. financial markets open on Wednesday, March 29, 2023. Following the release of financial results, Company management will conduct a conference call at 8:00 a.m. ET to discuss financial and operating results for the fourth quarter and full year of 2022.
Conference Call and Webcast Details
To access the live conference call via telephone, participants must pre-register at https://register.vevent.com/register/BIe13a43cb0fb742c3b2fd08064bace8a8. After registering, instructions will be shared on how to join the call for those who wish to dial in. A live audio webcast of the call will also be available in the Investor Relations section of the Company’s website at https://investors.columbia.care/ or at https://edge.media-server.com/mmc/p/9ed8sm24.
A replay of the audio webcast will be available in the Investor Relations section of the Company’s website approximately 2 hours after completion of the call and will be archived for 30 days.
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 128 facilities including 95 dispensaries and 33 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, and Amber. For more information on Columbia Care, please visit www.columbia.care.