Columbia Care Proclaims 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, one among Florida’s most densely populated metropolitan areas and gives replace on new cultivation and manufacturing facility
  • Gainesville dispensary to supply 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 world medical cannabis business with licenses in 15 jurisdictions throughout the US and the EU, as we speak introduced its enlargement 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. Situated 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 short-term 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 also be constructing a +40,000 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 enlargement by way of the addition of 180,000 sq. toes of greenhouse house. Based mostly on its distinctive website choice and optimization mannequin, Columbia Care has deliberate dispensary openings in key areas all through the state together with Bonita Springs, Cape Coral, Jacksonville, Longwood, Miami, Orlando, Sarasota and West Palm Seashore.

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 dwelling supply service, “[email protected],” at present out there to qualifying sufferers within the state. The Firm can 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 out there 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 line with the Workplace of Medical Marijuana Use, has develop into the biggest medical cannabis market within the US. With a present lively affected person rely of over 237,000, representing simply over 1.1% of the entire state inhabitants, this speedy enlargement price contains greater than 136,000 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 help 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 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 persistently gives in our different markets,” mentioned Nicholas Vita, chief government officer of Columbia Care. “Florida is experiencing speedy development in each suppliers and sufferers, rising 134% previously twelve months alone. Now we have seen in different markets how the usual of care we convey by way of 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 look at our excellent workforce as they intention to disrupt the established order.”

Per Columbia Care’s mission and imaginative and prescient, the 4,080 sq. foot Gainesville dispensary is designed to supply an distinctive affected person expertise, with an open flooring plan, a welcoming ambiance and excellent employees. The dispensary is situated 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 onerous pressed tablets and topicals, out there 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 workforce 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 are able to 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 by way of product innovation, analysis and affected person expertise.”

The grand opening of the Gainesville dispensary, situated 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, might 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 1,000,000 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 a number of the most famed and modern instructing hospitals and medical facilities on the planet. The Firm is dedicated to offering the kind of schooling and transparency sufferers deserve and high quality of product that clinicians anticipate. For extra info on Columbia Care, please go to www.col-care.com.

Ahead-Wanting Statements.

This press launch incorporates sure statements that represent forward-looking info inside the that means of relevant securities legal guidelines (“forward-looking statements”). Statements regarding Columbia Care Inc.’s (“Columbia Care” or the “Firm”) aims, targets, 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 “consider”, “anticipate”, “anticipate”, “estimate”, “intend”, “could”, “will”, “would”, “might”, “ought to”, “proceed”, “plan”, “aim”, “goal”, and comparable expressions and the destructive of such expressions are supposed to determine forward-looking statements, though not all forward-looking statements include these figuring out phrases.

Sure materials components and assumptions had been utilized in offering these forward-looking statements. Ahead-looking info 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 obligatory permits and regulatory approvals, well timed completion of deliberate building, and the power to determine and entice certified employees. Projections could also be impacted by macroeconomic components, along with different components 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 primarily based upon affordable assumptions; nevertheless, Administration can provide no assurance that precise outcomes shall be according to these forward-looking statements. Not all components which have an effect on the forward-looking info are identified, and precise outcomes could differ from the projected leads to a cloth respect and could also be above or beneath the forward-looking info introduced in a cloth respect.

Ahead-looking statements contain identified and unknown dangers, uncertainties and different components 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 have in mind the chance components and different cautionary statements in Columbia Care’s ultimate prospectus dated March 21, 2019 (the “Prospectus”) and filed with the relevant Canadian securities regulatory authorities on SEDAR at www.sedar.com. The chance components and different components famous within the Prospectus might trigger precise occasions or outcomes to vary materially from these described in any forward-looking info. Ahead-looking statements are primarily based 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. All the forward-looking statements made on this press launch are certified by these cautionary statements and different cautionary statements or components contained herein, and there might be no assurance that the precise outcomes or developments shall be realized or, even when considerably realized, that they’ll 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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