NEW YORK--(BUSINESS WIRE)--Columbia Care, Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”) announced that it has received approval from the Virginia Board of Pharmacy to commence vertically integrated operations for the cultivation, manufacture and sale of medical cannabis. The Company also announced the completion of its 65,000 square foot vertically integrated Portsmouth facility.
Although Columbia Care will launch dispensary operations with state-wide home delivery to expedite patient access, the Company anticipates adding up to five additional dispensaries in the eastern, coastal Hampton Bays/Norfolk greater metro area in 2020 (subject to final approval by Governor Northam of the unanimously passed Senate Bill (SB976) authorizing the expansion).
“We are proud and grateful to be one of the first cannabis operators approved to go to market in Virginia and serve one of the most populous regions in the Commonwealth,” said Columbia Care CEO Nicholas Vita. “Located in the heart of the Tidewater Region, we are excited to contribute to Virginia’s economic success as we emerge from the uncertainty caused by COVID-19. In addition to our full line of pharmaceutical products, patient access will be enhanced by CC@Home, our proprietary home delivery service, as well as the CNC Card, the nation’s first credit card for purchasing cannabis. This is great news for Virginia, Columbia Care and most of all, the patients who have been looking forward to a safe and regulated marketplace to access their medicine.”
About Columbia Care Inc.
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 19 jurisdictions (1,2,3) in the US and the EU. Columbia Care has completed more than 1.6 million sales transactions since inception and working in collaboration with renowned and innovative teaching hospitals and medical centers globally, continues to be a patient-centered health and wellness company 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 respect to the final approval by the Governor of SB976 and investors should consider that this assumption, 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._______________________________
Notes:
(1) Includes Colorado, subject to completion of the acquisition of The Green Solution
(2) Missouri subject to the successful completion of a management services agreement through which the company intends to provide consultative services
(3) Includes West Virginia industrial hemp cultivation license
