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.
- 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 Cannabist Company has secured crucial approval from Senior Noteholders for its previously announced plan of arrangement, with over 75% voting in favor. The arrangement received US$191,144,000 (75.4%) votes FOR and US$62,249,000 (24.6%) votes AGAINST.
The plan involves exchanging existing notes for new securities:
- Current 6.0% notes due 2025 and 9.5% notes due 2026 will be exchanged for new senior notes due 2028
- Holders will receive a share of 118,209,105 newly issued common shares
- 9.0% notes due 2027 holders can choose between new senior notes with common shares or new convertible notes
- 118,246,947 warrants at C$0.14 will be issued to existing shareholders
The arrangement still requires court approval and faces opposition from a 2025 note holder. The securities have not been registered under U.S. Securities Act and have restrictions on U.S. sales.
The Cannabist Company (CBSTF) has launched adult-use cannabis sales at its Cannabist Mays Landing location in New Jersey, marking its third dispensary in the state. The facility, situated at 4476 Black Horse Pike, 20 minutes from Atlantic City, will serve both medical and adult-use customers.
The grand opening celebration is scheduled for Tuesday, April 29, featuring promotions, giveaways, vendor pop-ups, and a special appearance by wrestling legend Ric Flair. The dispensary offers various house brands including Classix, Hedy, Seed & Strain, Triple Seven, and dreamt, alongside partner brands such as Bloom, ButACake, Old Pal, Revelry, Ric Flair Drip, and Veda Warrior.
The company operates a 320,000 square foot cultivation and production facility in Vineland, with recent upgrades to its commercial kitchen and manufacturing facilities. This expansion complements existing locations in Deptford and Vineland, supported by a growing wholesale program.
The Cannabist Company (OTCQB: CBSTF) has scheduled its first quarter 2025 financial results announcement for May 8, 2025, before U.S. markets open. The company will host a conference call at 8:00 a.m. EST following the release of results.
Interested participants must pre-register for the telephone conference through the provided registration link. Additionally, investors can access a live audio webcast through the company's Investor Relations website.
The Cannabist Company Holdings Inc. (OTCQX: CBSTF) has received an interim order from the Ontario Superior Court of Justice for its previously announced plan of arrangement. The order authorizes a special meeting of Senior Noteholders to be held on April 29, 2025, to consider the Transaction.
The meeting will involve holders of three types of notes: 6.0% senior secured convertible notes due June 2025, 9.5% senior secured first-lien notes due February 2026, and 9.0% senior secured convertible notes due March 2027. The Transaction requires approval from at least 66⅔% of votes cast by Senior Noteholders and final court approval.
The record date for determining eligible voters was set at March 7, 2025. Detailed information will be provided in a management information circular to be mailed to Senior Noteholders and filed on SEDAR+.
The Cannabist Company (CBSTF) has announced the expansion of its sleep-focused brand dreamt into Massachusetts, New Jersey, and Virginia markets, following its December launch in Maryland. The expansion coincides with Sleep Awareness Month, featuring educational pop-ups and promotional activities including 'Sleepy Saturdays' with double loyalty points on dreamt purchases.
The brand's signature product features a unique 5:2:1 ratio of THC, CBD, and CBN, complemented by natural ingredients including valerian root and GABA. The formulation also includes a proprietary terpene blend with limonene, myrcene, and linalool to support relaxation.
Currently, dreamt offers 5mg gummies in 20-pack quantities across all four markets, with a 30-dose tincture available in Massachusetts and planned for release in other markets this spring.
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.
FAQ
What is the current stock price of Cannabist (CBSTF)?
What is the market cap of Cannabist (CBSTF)?
