Cannabist Stock Price, News & Analysis

The Cannabist Company (OTCQB: CBSTF) has completed the sale of its Pennsylvania affiliate, which operates 3 medical dispensaries, to VP Investment Holdings for $10 million in cash. The strategic transaction includes a concurrent supply agreement with VP Holdings for products from Cannabist's grow/processing facility, gLeaf.

The dispensaries, located in Scranton, Allentown, and Wilkes-Barre, will be rebranded under the Restore brand. This move aligns with Cannabist's strategy to simplify operations and optimize assets, transitioning to a wholesale-focused model in Pennsylvania while leveraging their Saxton cultivation facility.

The Cannabist Company (OTCQB: CBSTF) reported Q2 2025 financial results with revenue of $86.4 million, down 1% quarter-over-quarter and 31% year-over-year. The company achieved Adjusted EBITDA of $8.5 million with a margin improvement of 30 basis points to 9.8%.

Key developments include completing a debt restructuring extending senior debt maturities to December 2028, selling Florida assets for $5 million, and announcing the sale of three Pennsylvania dispensaries for $10 million. The company launched adult-use sales in Delaware and implemented corporate restructuring for $2 million in annual cost savings.

Wholesale revenue grew 16% sequentially to $18.4 million, representing 21% of total revenue. The company operated 53 retail locations at quarter-end and maintained $15.5 million in cash.

The Cannabist Company (OTCQB: CBSTF) has launched adult-use cannabis sales across its three Columbia Care dispensary locations in Delaware. The company's retail locations in Rehoboth Beach, Wilmington, and Smyrna will now serve both recreational and medical cannabis customers with extended hours from 9am-9pm daily.

The company's 20,000-square-foot cultivation and production facility in Milford will support the expanded market. Customers can access The Cannabist Company's house brands including Amber, Classix, Hedy, Seed & Strain, Triple Seven, and partner brand Ric Flair Drip. The Smyrna location has been recently expanded to accommodate increased demand from adult-use sales.

The Cannabist Company (OTCQB: CBSTF) has scheduled its second quarter 2025 financial results announcement for August 7, 2025, before U.S. markets open. The company will host a conference call at 8:00 a.m. EST on the same day to discuss the results.

Interested participants must pre-register for the conference call through the provided registration link. A live audio webcast will be accessible through the company's Investor Relations website.

The Cannabist Company (CBSTF) has launched COAST Cannabis Co. edibles in Maryland, marking their first partnership collaboration. COAST, a woman-owned and led cannabis company, brings their premium gummies made with organic ingredients and free from artificial additives to both adult-use consumers and medical patients. The product line features award-winning ratio gummies with various cannabinoid combinations and fruit flavors, including energizing Raspberry Lime with THCv and Sleep Suite varieties with CBN in Blueberry, Cranberry Pomegranate, and Grape flavors. The gummies are currently available at all gLeaf and Columbia Care locations in Maryland, with COAST artisan chocolates planned for future release.

The Cannabist Company Holdings Inc. (CBSTF) has appointed two new independent directors, Tom Lynch and Peter Lee, to its Board of Directors effective June 5, 2025. This appointment follows the company's recently completed plan of arrangement that extended senior debt maturities to December 2028, with a potential extension through 2029. Lynch brings over 30 years of capital markets experience as President and Partner at SierraConstellation Partners LLC, specializing in restructuring and strategic planning. Lee, currently serving as President and COO of Leafly Holdings, contributes over 25 years of public markets and private equity experience. The appointments are part of the company's amended and restated indenture dated May 29, 2025, under Section 192 of the Canada Business Corporations Act.

The Cannabist Company (CBSTF) has completed its previously announced court-approved plan of arrangement, implementing significant debt restructuring. The arrangement involved exchanging various senior secured notes due in 2025, 2026, and 2027 for new senior notes due December 31, 2028. As part of the restructuring, the company issued 118,209,105 new common shares to noteholders and 118,246,947 anti-dilutive warrants to existing shareholders. The 2027 Notes holders had the option to receive either new senior notes with pro-rata common shares or new senior convertible notes. Moelis & Company LLC served as financial advisor, with various legal firms representing both the company and noteholders in this complex financial restructuring.

The Cannabist Company has received final court approval from the Ontario Superior Court of Justice for its previously announced plan of arrangement under Section 192 of the Canada Business Corporations Act. The arrangement involves The Cannabist Company Holdings Inc., The Cannabist Company Holdings (Canada) Inc., and 16834434 Canada Inc. The closing is targeted for May 29, 2025, subject to regulatory approvals. Shareholders eligible for new warrants will be determined two business days before closing. The company noted that the securities being offered are not registered under U.S. Securities Act and cannot be sold in jurisdictions without proper registration or exemption.

The Cannabist Company reported Q1 2025 financial results showing revenue of $87.4 million, down 9% from Q4 2024. The company posted a net loss of $32.2 million, though improved from Q4's $55.2 million loss. Adjusted EBITDA was $8.3 million with margin increasing over 200 basis points to 9.5%. Key operational highlights include:

• Wholesale revenue grew 3.5% to $16 million (18% of total revenue)
• Retail locations reduced to 55 after selling one California dispensary and closing three Colorado locations
• Completed exit from Washington, DC market and sold Florida MMTC license for $5 million
• Successfully launched dreamt brand in Massachusetts, New Jersey and Virginia
• Implemented corporate restructuring for $3.8 million in annualized cost savings

The company continues focusing on debt restructuring, with Senior Note holders approving maturity extension to 2028, pending court approval.