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.
The Cannabist Company Holdings Inc. (CBSTF), formerly known as Columbia Care, generates frequent news as a multi-state U.S. cannabis cultivator, manufacturer and retailer. With licenses in 12 U.S. jurisdictions and a network of 61 dispensaries supported by cultivation and manufacturing facilities, the company’s updates cover both medical and adult-use cannabis markets.
News about The Cannabist Company often centers on strategic transactions and footprint changes. Recent announcements include agreements to sell its Virginia subsidiary, Green Leaf Medical of Virginia, LLC, first to a subsidiary of Curaleaf Holdings Inc. and later to an entity affiliated with Millstreet Credit Fund LP, as part of a broader strategic review. The company has also reported divestitures such as the sale of three dispensaries in Pennsylvania and the sale of its remaining interests in a Florida cultivation facility, along with a shift to a wholesale model in Pennsylvania.
Investors and industry followers can also find operational and expansion news, such as the opening of Cannabist-branded dispensaries in Norwalk and Saint Clairsville, Ohio, and the launch of adult-use sales at its Delaware locations. Partnership news includes collaborations with brands like Old Pal, bringing flower products to West Virginia and other states, and Queen Mary, introducing wellness-focused, rosin-infused gummies across Colorado retail locations.
Earnings releases and related 8-K filings provide updates on quarterly financial performance, key markets by revenue and adjusted EBITDA, and commentary on pricing, margins and liquidity. Governance and corporate updates, including board changes, executive transitions and retention plans, are also disclosed.
For those tracking CBSTF, this news stream offers insight into how The Cannabist Company is managing its multi-state footprint, brand portfolio and capital structure in a changing cannabis landscape.
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.
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.