Columbia Care Broadcasts Statewide Launch in Florida, the Quickest Rising US Medical Hashish Market, with Grand Opening of First Dispensary

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PRESS RELEASE

  • World Medical cannabis chief expands dispensary footprint to Gainesville, certainly one of Florida’s most densely populated metropolitan areas and gives replace on new cultivation and manufacturing facility
  • Gainesville dispensary to offer differentiated product providing with portfolio of proprietary, GMP manufactured pharmaceutical-quality merchandise and provider-based care and academic mannequin designed to ship optimum affected person journey and expertise

NEW YORK–(BUSINESS WIRE)–Columbia Care Inc. (“Columbia Care” or the “Firm”) (NEO: CCHW, OTC: COLXF), one of many largest fully-integrated operators within the international medical cannabis business with licenses in 15 jurisdictions throughout the US and the EU, right this moment introduced its growth into the highly-regulated and restricted license State of Florida, the quickest rising medical cannabis market within the US, with the grand opening of its Gainesville dispensary, the Firm’s first dispensary in Florida. Positioned within the largest metropolis within the North Central Florida area that hosts over 3.eight million guests yearly, the Gainesville dispensary gives handy entry to Columbia Care’s portfolio of patent-pending, pharmaceutical-quality cannabis-based medicines to Florida Division of Well being-issued resident and momentary resident medical marijuana card holders.

The Gainesville location is the primary of 20 dispensaries Columbia Care expects to have open or beneath growth all through the state by the tip of 2019. Leveraging its experience in organically constructing vertically built-in operations in different states, Columbia Care can be constructing a +40,00Zero sq. foot state-of-the-art cultivation and manufacturing facility in Lakeland and expects to finish building by October. Lakeland would be the Firm’s second GMP licensed cultivation and manufacturing facility in Florida and can complement the actions of is first hybrid indoor-outdoor complicated in Arcadia, which is present process a major growth via the addition of 180,00Zero sq. toes of greenhouse house. Primarily based on its distinctive web site choice and optimization mannequin, Columbia Care has deliberate dispensary openings in key places all through the state together with Bonita Springs, Cape Coral, Jacksonville, Longwood, Miami, Orlando, Sarasota and West Palm Seaside.

Every Florida dispensary opening expands Columbia Care’s core entry and repair mannequin by optimizing the hub-and-spoke distribution community that has underpinned the success of Columbia Care’s proprietary residence supply service, “[email protected],” at the moment obtainable to qualifying sufferers within the state. The Firm may even be launching its beforehand introduced CNC Card in Florida. The CNC Card, the nation’s first authorized bank card for cannabis purchases, will present sufferers all through the state of Florida with the identical ease of buying and entry obtainable for different client or medical merchandise, additional enhancing the handy, patient-focused expertise that sufferers have come to anticipate from Columbia Care.

Florida’s medical cannabis market was roughly $200 million in 2018 and in accordance with the Workplace of Medical Marijuana Use, has grow to be the biggest medical cannabis market within the US. With a present lively affected person depend of over 237,000, representing simply over 1.1% of the whole state inhabitants, this fast growth fee consists of greater than 136,00Zero sufferers that enrolled in this system within the final 12 months. New Frontier Information expects the Florida medical cannabis market to method $1.6 billion by 2020.

“Since buying our Florida license in 2018, Columbia Care has been quietly assembling its portfolio of dispensaries and constructing the requisite infrastructure to assist the tempo of development that has made the State such a strategic market. We’re getting into Florida by leveraging our experience, differentiated services and products and intend to seize a good portion of the market. Our launch of dispensary operations on July 16 brings the proprietary merchandise, innovation and affected person expertise that Columbia Care constantly gives in our different markets,” mentioned Nicholas Vita, chief govt officer of Columbia Care. “Florida is experiencing fast development in each suppliers and sufferers, growing 134% previously twelve months alone. We’ve got seen in different markets how the usual of care we carry via our data-driven insights, proprietary product formulations, GMP manufacturing high quality and service-centric dispensary mannequin has reset client expectations by providing a extremely valued, differentiated affected person expertise. As we execute on our development plan all through the state, we’re assured that sufferers will view Columbia Care as one of many foremost suppliers of precision-dosed, pharmaceutical-quality cannabis merchandise. We’re grateful to our companions and stakeholders and are keen to observe our excellent crew as they intention to disrupt the established order.”

In line with Columbia Care’s mission and imaginative and prescient, the 4,080 sq. foot Gainesville dispensary is designed to offer an distinctive affected person expertise, with an open flooring plan, a welcoming ambiance and excellent workers. The dispensary is positioned minutes away from the award-winning College of Florida Well being Shands hospital and residential to the College of Florida campus, which is among the main analysis establishments within the US and one of many largest venues for sports activities and leisure in Florida. Columbia Care will supply its constant, dependable and exactly formulated pharmaceutical-quality tinctures, capsules and vaporization gadgets and cartridges and intends to make its patent-pending TheraCeed™, ClaraCeed™ and EleCeed™ manufacturers in a number of extra codecs, together with laborious pressed tablets and topicals, obtainable by 12 months finish.

Arnetra Shettleworth, Columbia Care Florida’s market director, added, “We’re extremely enthusiastic about Columbia Care’s official entry into the Florida market and our technique for development within the state over the subsequent 12 months. Our educated crew is dedicated to offering a best-in-class expertise and to educating our sufferers on the best medicines to handle their wants. As a frontrunner in our current markets, we’re assured that we will considerably impression the lives of sufferers throughout Florida. I look ahead to using my retail and healthcare operations background to assist Columbia Care lead this market, outline client and affected person expectations and forge forward with our mission to enhance lives via product innovation, analysis and affected person expertise.”

The grand opening of the Gainesville dispensary, positioned at 318 NW 13th St., is scheduled to happen on July 16th. Hours of operation shall be 10:00 a.m.-7:00 p.m. Monday-Saturday and 12:00 p.m.-5:00 p.m. Sunday. Extra details about the dispensary, together with a menu of accessible merchandise and grand opening occasions, will be discovered on-line at https://col-care.com/florida/.

About Columbia Care Inc.

Columbia Care Inc. (“Columbia Care” or the “Firm”) is among the largest and most skilled multi-state operators within the medical cannabis business, with licenses in 15 jurisdictions within the US and the EU. With over 1,000,00Zero profitable gross sales transactions since its inception, Columbia Care is a patient-centered group setting the usual for compassion, professionalism, high quality, caring and innovation, working in collaboration with among the most famed and revolutionary instructing hospitals and medical facilities on the earth. The Firm is dedicated to offering the kind of schooling and transparency sufferers deserve and high quality of product that clinicians anticipate. For extra data on Columbia Care, please go to www.col-care.com.

Ahead-Wanting Statements.

This press launch accommodates sure statements that represent forward-looking data inside the that means of relevant securities legal guidelines (“forward-looking statements”). Statements regarding Columbia Care Inc.’s (“Columbia Care” or the “Firm”) goals, objectives, methods, priorities, intentions, plans, beliefs, expectations and estimates, and the enterprise, operations, monetary efficiency and situation of Columbia Care are forward-looking statements. The phrases “imagine”, “anticipate”, “anticipate”, “estimate”, “intend”, “might”, “will”, “would”, “might”, “ought to”, “proceed”, “plan”, “purpose”, “goal”, and related expressions and the unfavourable of such expressions are supposed to determine forward-looking statements, though not all forward-looking statements comprise these figuring out phrases.

Sure materials elements and assumptions had been utilized in offering these forward-looking statements. Ahead-looking data entails quite a few assumptions together with the next particular assumptions: the power of Columbia Care to satisfy its dispensary targets together with the power to barter extra lease preparations passable to the corporate, receipt of vital permits and regulatory approvals, well timed completion of deliberate building, and the power to determine and appeal to certified workers. Projections could also be impacted by macroeconomic elements, along with different elements not controllable by the Firm. Columbia Care has additionally made sure common business assumptions within the preparation of such forward-looking statements. Administration believes that the expectations mirrored in forward-looking statements are based mostly upon cheap assumptions; nevertheless, Administration can provide no assurance that precise outcomes shall be in keeping with these forward-looking statements. Not all elements which have an effect on the forward-looking data are recognized, and precise outcomes might differ from the projected ends in a fabric respect and could also be above or under the forward-looking data offered in a fabric respect.

Ahead-looking statements contain recognized and unknown dangers, uncertainties and different elements that will trigger Columbia Care’ precise outcomes, efficiency or achievements, or developments in its business, to vary materially from the anticipated outcomes, efficiency, achievements or developments expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned to not place undue reliance on such forward-looking statements. When contemplating these forward-looking statements, readers ought to be mindful the danger elements and different cautionary statements in Columbia Care’s remaining prospectus dated March 21, 2019 (the “Prospectus”) and filed with the relevant Canadian securities regulatory authorities on SEDAR at www.sedar.com. The chance elements and different elements famous within the Prospectus might trigger precise occasions or outcomes to vary materially from these described in any forward-looking data. Ahead-looking statements are based mostly on administration’s present plans, estimates, projections, beliefs and opinions, and Columbia Care doesn’t undertake any obligation to replace forward-looking statements ought to assumptions associated to those plans, estimates, projections, beliefs and opinions change besides as required by relevant securities legal guidelines. The entire forward-looking statements made on this press launch are certified by these cautionary statements and different cautionary statements or elements contained herein, and there will be no assurance that the precise outcomes or developments shall be realized or, even when considerably realized, that they may have the anticipated penalties to, or results on, Columbia Care.

Contacts

Buyers:
Gary F. Santo, Jr.
Investor Relations
+1.212.271.0915
[email protected]

Media:
Josephine Belluardo, Ph.D.
LifeSci Public Relations
+1.646.751.4361
[email protected] care

 



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