Columbia Care Continues Florida Expansion with Four Dispensary Openings, Receives Approval to Begin Sales of Flower

November 26, 2019

Bonita Springs, Cape Coral, Melbourne and Orlando locations increase Columbia Care’s Florida dispensary footprint to seven

13 additional locations expected to open in the state by year end pending regulatory approval

Flower sales to begin in all locations on December 2nd

NEW YORK–(BUSINESS WIRE)–
Columbia Care Inc. (NEO: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”), one of the largest fully integrated operators in the global medical cannabis industry with licenses across the US and EU, today announced the expansion of its Florida footprint with the opening of its dispensaries in Cape Coral and Orlando. The Company also expects its Bonita Springs and Melbourne dispensaries to be operational within the next two weeks.

In addition, last week, Columbia Care received state approval to sell flower in its Florida dispensaries. Earlier this year, in anticipation of its significant Florida expansion and increased demand for flower products across the state, the Company announced the expansion of its cultivation and manufacturing operations in Arcadia as well as the construction of a new facility in Lakeland, both of which have been building inventory and will begin supplying premium flower products across the state on December 2, 2019.

“Florida continues to be one of the fastest growing medical cannabis markets in the US, and Columbia Care is proud to be a part of that growth story,” said Nicholas Vita, chief executive officer of Columbia Care. “Since its approval in March, the demand for flower has been strong and we are excited to have received approval to distribute our high-quality flower products to the state as a complement to our portfolio of precision manufactured, dose metered pharmaceutical quality products. With 22 dispensary locations either open or under development and two primary manufacturing and cultivation sites operational, our ability to offer Columbia Care’s full suite of proprietary medical cannabis products throughout the state will serve as the foundation for our growth and profitability. The 400,000+ registered patients in Florida deserve a best-in-class experience along with the differentiated delivery forms we are known for. We are proud of the work done to date by our Florida team and remain committed to setting the bar for quality and service in the Sunshine State.”

The Company expects to introduce the CNC Card, the nation’s first legal credit card for cannabis purchases, at each of these new locations, as well as its proprietary home delivery service, “CC@Home,” which, together with the CNC Card, is designed to provide a convenient and familiar customer experience as well as streamlined access to Columbia Care’s high-quality cannabis products by making automatic fulfillment a simple and efficient means to access these important medications.

For more information about Columbia Care’s Florida dispensaries, including a menu of available products and hours of operation, please visit https://col-care.com/all-locations/.

Additional information on the CNC Card can be found at www.columbianationalcredit.com.

About Columbia Care Inc.

Columbia Care Inc. is one of the largest fully integrated operators in the global medical cannabis industry with licenses in 15 jurisdictions in the US and the EU. With over 1.4 million in sales transactions since its inception, Columbia Care is a patient-centered organization setting the standard for compassion, professionalism, quality, caring and innovation in cannabis, working in collaboration with some of the most renowned and innovative teaching hospitals and medical centers in the world. The Company is committed to providing the type of education and transparency patients deserve and quality of product that clinicians expect. 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 (“forward-looking statements”). Statements concerning Columbia Care’s objectives, goals, strategies, priorities, intentions, plans, beliefs, expectations and estimates, and the business, operations, financial performance and condition of Columbia Care are forward-looking statements. The words “believe”, “expect”, “anticipate”, “estimate”, “intend”, “may”, “will”, “would”, “could”, “should”, “continue”, “plan”, “goal”, “objective”, and similar expressions and the negative of such expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

Certain material factors and assumptions were applied in providing these forward-looking statements. Forward-looking information involves numerous assumptions, including the ability of the Company to obtain certain third party consents, permits and approvals; the ability of Columbia Care to meet its dispensary targets, including the ability to negotiate additional lease arrangements satisfactory to the Company; the ability of the Company to complete all planned construction in a timely manner; and the ability of the Company to identify and attract qualified staff. Projections may be impacted by macroeconomic factors, in addition to other factors not controllable by the Company. Columbia Care has also made certain general industry assumptions in the preparation of such forward-looking statements. Management believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, Management can give no assurance that actual results will be consistent with these forward-looking statements. Not all factors which affect the forward-looking information are known, and actual results may vary from the projected results in a material respect and may be above or below the forward-looking information presented in a material respect.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Columbia Care’s actual results, performance or achievements, or developments in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements in Columbia Care’s final prospectus dated March 21, 2019 (the “Prospectus”) and filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the Prospectus could cause actual events or results to differ materially from those described in any forward-looking information. Forward-looking statements are based on management’s current plans, estimates, projections, beliefs and opinions, and Columbia Care does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change except as required by applicable securities laws. All of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Columbia Care.

Investors:

Gary F. Santo, Jr.

Investor Relations

+1.212.271.0915

GSanto@col-care.com

Media:

Josephine Belluardo, Ph.D.

LifeSci Public Relations

+1.646.751.4361

Source: Columbia Care Inc.