Cannabis Stock News: Columbia Care (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) Awarded Five Medical Dispensary Permits in West Virginia Assuring Scaled, Vertically Integrated Operations
Development of cultivation and processing facilities already under way after receiving approvals in late 2020
NEW YORK - February 1, 2021 (Investorideas.com Newswire) Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) ("Columbia Care" or the "Company") announced it has been awarded five medical dispensary permits by the West Virginia Office of Medical Cannabis ("OMC"). Columbia Care currently holds one of only 10 cannabis processing licenses and one of 10 cultivation licenses, in addition to a hemp cultivation license. The OMC has also awarded a dispensary permit to Green Leaf Medical ("Green Leaf"), the private cannabis multi-state operator that Columbia Care remains on track to acquire in Summer 2021 pending regulatory approval.
These permits allow the Company to operate retail dispensaries in the cities of Beckley, Fayetteville, Morgantown, St. Albans, and Williamstown, giving patients access to Columbia Care's leading portfolio of pharmaceutical-grade products, and its wholesale partners, across the central and northern regions of the state. In addition, the Company's cultivation and processing capacity will also allow for a robust wholesale program that will bring the Company's market-leading portfolio of products to the rest of the state. Green Leaf's dispensary permit in Charleston will also deepen the Company's presence in the state's capital and most populous city.
"We are grateful to the decision makers in West Virginia, in particular the OMC, for selecting us to bring our high-touch patient-focused dispensary experience and premium product portfolio to best serve patients across West Virginia," said Nicholas Vita, CEO of Columbia Care. "Being selected for up to six dispensary permits, as well as cultivation and processing licenses, is a great honor and enables us to pursue key retail and wholesale market opportunities within this limited-license state. In conjunction with our acquisition of Green Leaf, building out our vertically integrated West Virginia operations will further enhance our scale and footprint in the mid-Atlantic. We look forward to enhancing the lives of our West Virginia patients and, by doing so, solidifying our market-leading position in the region to continue to serve those who choose to include cannabis in their journey back to restored health and wellness."
About Columbia Care
Columbia Care is one of the largest and most experienced cultivators, manufacturers and providers of medical and adult use cannabis products and related services with licenses in 18 US jurisdictions and the EU. Columbia Care currently operates 108 facilities[i] including 81 dispensaries and 27 cultivation and manufacturing facilities. Columbia Care is one of the original providers of medical cannabis in the United States, and continues to deliver an industry-leading, patient-centered medicinal cannabis operation that has quickly expanded into the adult use market as a premier operator. The company currently offers products spanning flower, edibles, oils, and tablets, and manufactures popular brands including Seed & Strain, Amber and Platinum Label CBD. With more than four million sales transactions since its inception in 2012, Columbia Care is known for setting the standard for compassion, professionalism, quality, care, and innovation in the rapidly expanding cannabis industry. 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 the expansion of its Boston dispensary, which although considered reasonable by the Company at the time of preparation, may prove to be incorrect, as well as other risk factors discussed under "Risk Factors" in Columbia Care's Annual Information Form dated March 31, 2020, 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.
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