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The Cannabist Company Holdings Inc. reports developments tied to its U.S. cannabis cultivation, manufacturing and retail operations. The company, formerly known as Columbia Care, serves medical and adult-use markets through the Cannabist retail brand and product lines that include flower, edibles, oils and tablets.
Recurring news for CBSTF includes material agreements with senior noteholders, capital-structure updates involving senior secured and senior secured convertible notes, operating and financial results, governance matters and cannabis regulatory disclosures. Company updates also reference branded products such as Seed & Strain, Triple Seven, Hedy, gLeaf, Classix, Press and Amber.
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.
- 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.