Welcome to our dedicated page for Cannabist news (Ticker: CBSTF), a resource for investors and traders seeking the latest updates and insights on Cannabist stock.
Cannabist Holdings (CBSTF) delivers cannabis industry innovation through integrated cultivation technologies and compliance-focused operations. This news hub provides investors with essential updates on strategic developments within evolving regulatory frameworks.
Access real-time announcements including earnings reports, partnership agreements, and operational expansions. Our curated collection features regulatory filings, product innovation updates, and market positioning statements directly from corporate sources.
Key coverage areas include:
Financial disclosures: Quarterly results and investment activities
Operational updates: Facility expansions and cultivation advancements
Regulatory compliance: Licensing developments and quality control measures
Strategic partnerships: Technology integrations and distribution alliances
Bookmark this page for streamlined tracking of CBSTF's progress in cannabis product development and market expansion. Regular updates ensure informed decision-making about this dynamic sector participant.
The Cannabist Company (CBSTF) reported Q4 and full year 2024 results, with Q4 revenue of $96.1 million, representing a 16% decrease from Q3, primarily due to asset sales in Virginia, Arizona, and Florida. Q4 gross margin was 35%, showing improvement of 120 basis points year-over-year.
The company achieved $7.0 million in Adjusted EBITDA for Q4, down from $14.8 million in Q3. Notable achievements include $23 million in annualized cost savings through corporate restructuring and positive operating cash flow of $4.3 million in Q4. The company ended Q4 with $33.6 million in cash, up from $31.5 million in Q3.
Key developments include an agreement to extend senior secured debt maturities to December 2028, with options through 2029, currently supported by 70% of noteholders. The company's retail footprint decreased to 59 locations by Q4-end, down from 73 in Q3, following strategic divestitures and optimization efforts.
The Cannabist Company (OTCQX: CBSTF) has secured approximately 70% support from Senior Notes holders for its previously announced debt restructuring plan. The Transaction involves exchanging existing notes for new ones with an extended maturity date and additional covenants.
The restructuring requires approval from the Ontario Superior Court of Justice through a plan of arrangement under the CBCA, along with support from a requisite majority of Senior Note holders and necessary regulatory approvals. The company plans to hold a meeting of Senior Notes holders on April 29, 2025, with a March 7, 2025 record date.
The Board unanimously approved the Transaction after receiving an independent fairness opinion from Koger Valuations Inc., confirming its fairness to both shareholders and Senior Note holders. Early Supporting Noteholders can participate in the Early Consent Consideration and Asset Sale Early Consent Fee by executing a joinder agreement by March 10, 2025.
The Cannabist Company (CBSTF) has announced a significant debt restructuring agreement with approximately 61% of its senior noteholders to extend debt maturities to December 2028, with options through 2029. The transaction involves exchanging approximately US$270 million in existing senior notes for new 9.25% senior secured notes.
Key terms include:
- Issuance of 118,209,105 common shares (24.99% of outstanding shares) to participating noteholders
- Early consent consideration of $1.5 million for supporting noteholders
- Additional $1.5 million asset sale consent fee tied to achieving specific sale proceeds targets
- Anti-dilutive warrants for existing shareholders to acquire 118,246,947 shares at CAD 0.14
- Board restructuring to include two new independent directors nominated by noteholders
The transaction, expected to close in first half 2025, requires court approval and regulatory clearances. The company's board has unanimously approved the restructuring, supported by an independent fairness opinion from Koger Valuations.
The Cannabist Company (CBSTF) has announced it will release its fourth quarter and full year 2024 financial results on March 13, 2025, before U.S. markets open. Following the results announcement, company management will host a conference call at 8:00 a.m. EST.
Participants interested in joining the conference call must pre-register through the provided link. The company will also make the call available via live audio webcast through their investor relations website.
The Cannabist Company has announced the launch of its Seed & Strain brand in Maryland, marking the brand's 12th market expansion. The initial product rollout includes 0.5-gram vape cartridges, available at the Columbia Care location in Chevy Chase and gLeaf locations in Frederick and Rockville. Additional products, including whole flower and pre-rolls, are pending regulatory approval and will be available in the coming months.
The brand is now present in California, Colorado, Delaware, Illinois, Maryland, Massachusetts, New Jersey, New York, Ohio, Pennsylvania, Virginia, and West Virginia. This expansion aligns with Maryland's growing cannabis market and reinforces the company's commitment to providing premium and accessible cannabis products to consumers.
The Cannabist Company has expanded its partnership with Ric Flair Drip into the New Jersey market, following its successful launch in Delaware. The collaboration introduces a premium cannabis product line featuring all-in-one 1-gram vapes and vape cartridges in four flavors: Banana Belts, Mango Mania, Strawberry Strut, and Woo Watermelon. The collection also includes cannabis-infused edibles in three flavors: Flairy Cherry, Figure Four Orange, and Watermelon Wooooo.
This expansion coincides with the opening of The Cannabist Company's third dispensary in New Jersey, located in Mays Landing, demonstrating the company's commitment to expanding cannabis product accessibility. The brand, co-founded by wrestling legend Ric Flair and part of Carma HoldCo Inc., aims to deliver bold flavor profiles and exceptional quality to cannabis consumers in the Garden State.
The Cannabist Company (OTCQX: CBSTF) announced the opening of its third dispensary in New Jersey, located in Mays Landing at 4476 Black Horse Pike. The facility began serving medical cannabis patients on December 30, 2024, with adult-use sales planned for early 2025, pending regulatory approval.
The company has established a strong presence in New Jersey with a total cultivation and production capacity of 320,000 square feet, including an upgraded commercial kitchen and manufacturing space. This infrastructure supports both medical and adult-use cannabis sales, complementing existing retail locations in Deptford and Vineland, along with their wholesale program.
The Cannabist Company (CBSTF) has announced a partnership with Ric Flair Drip to launch cannabis products in Delaware, with plans to expand into additional markets in 2025. The initial product lineup includes all-in-one 1-gram vapes and vape cartridges in four flavors: Love Afflair, Mango Mania, Strawberry Strut, and Relaxed AG (exclusive cartridge). The partnership coincides with Delaware's upcoming adult-use cannabis sales launch next year. The brand, co-founded by wrestling icon Ric Flair and part of Carma HoldCo Inc., aims to leverage Flair's dynamic personality while contributing to The Cannabist Company's expanded production capacity.
The Cannabist Company (CBSTF) announced the launch of dreamt, a sleep-focused cannabis brand, in Maryland. The brand, acquired through Ciencia Labs portfolio acquisition, features unique formulations combining specific ratios of THC to CBD, along with supplements like GABA and valerian root.
The initial product offering is a gummy containing 5mg THC, 2mg CBD, and 1mg CBN, sold in 20-pack units at Columbia Care Chevy Chase and gLeaf dispensaries in Maryland, as well as through wholesale channels. The company plans to expand the brand to additional markets and introduce new products in 2025.
The Cannabist Company has announced a partnership with Flower by Edie Parker, launching their products in Virginia and Colorado. The collaboration introduces the Brand's best-selling 'Petal Puffer' all-in-one vape and vape cartridges in these markets. The company will also launch Flower by Edie Parker's cannabis-infused edibles line, 'Seedies', in Colorado and New York next week, with plans to expand to additional markets in Q1 2025, including Delaware. The Brand's smoking accessories and handbags are available at select The Cannabist Company dispensaries across the US, with Flower by Edie Parker now present in eleven states.
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