Collaboration Serves Increased Demand in Growing East Coast Markets

NEW YORK, July 18, 2024--(BUSINESS WIRE)--The Cannabist Company Holdings Inc. (Cboe CA: CBST) (OTCQX: CBSTF) (FSE: 3LP) ("The Cannabist Company" or the "Company"), one of the most experienced cultivators, manufacturers and retailers of cannabis products in the U.S., announced today the expansion of its partnership with Old Pal, a top-performing lifestyle cannabis brand, into New Jersey with new/additional products launching in Maryland and Virginia.

The Cannabist Company recently launched Old Pal classic and infused blunts; 2-pack pre-rolls; and its signature 7g Ready to Roll kit in New Jersey. The Ready to Roll kit features classic pre-ground cannabis, rolling papers, and crutches, packaged into a resealable pouch, offering consumers everything they need to roll a joint and elevate any moment, anywhere. The products are available at Cannabist locations in Vineland and Deptford and available across its wholesale channels throughout New Jersey.

Old Pal is also expanding its product line in Maryland and Virginia. Old Pal 14-pk pre-rolls and 1-oz flower offerings, as well as .5g and 1g vape carts are now available in Maryland at the Columbia Care dispensary in Chevy Chase and at gLeaf locations in Rockville and Frederick. In Virginia, 14g Ready to Roll kits and 2g classic blunts can be found at the eleven Cannabist and gLeaf locations statewide. More products will be on shelves in the coming months, pending regulatory approval in each market, including Old Pal x Babish THC-Infused Sugar, which is being crafted with The Cannabist Company’s premium flower.

"Working with Rusty and the entire Old Pal team has been an incredible ride these last few months. We’re so happy to be building on the success in Maryland and Virginia and bringing these products to New Jersey," said Jesse Channon, President, The Cannabist Company. "Our customers are loving all the Old Pal products and we’re so proud of our cultivation and manufacturing teams that are providing consistent experiences across multiple markets. This partnership is not only enhancing brand recognition and loyalty for our partners but is also contributing to our overall performance as we work to build a better business by improving operational efficiencies and increasing canopy utilization and manufacturing capacity."

"We are pumped that our collaboration with The Cannabist Company is going so well. Our products are selling out extremely fast and customers are increasingly asking where they can find items and when we will be expanding into their markets. We’re stoked this venture is now growing to include multiple markets and can’t wait to see what’s next," said Rusty Wilenkin, Old Pal Co-founder and Chief Executive Officer. "The process has been extremely seamless thanks to The Cannabist Company’s consistent, high-quality cultivation, and reliable manufacturing and production capabilities. Their expansion mindset is bringing Old Pal’s legacy and shareable lifestyle to new and emerging markets helping us connect with new customers."

For more information, visit cannabistcompany.com and oldpal.com.

About The Cannabist Company (f/k/a Columbia Care)
The Cannabist Company, formerly known as Columbia Care, is one of the most experienced cultivators, manufacturers and providers of cannabis products and related services, with licenses in 14 U.S. jurisdictions. The Company operates 104 facilities including 81 dispensaries and 23 cultivation and manufacturing facilities, including those under development and assuming the closure of announced divesture transactions. Columbia Care, now The Cannabist Company, is one of the original multi-state providers of cannabis in the U.S. and now delivers industry-leading products and services to both the medical and adult-use markets. In 2021, the Company launched Cannabist, its retail brand, creating a national dispensary network that leverages proprietary technology platforms. The company offers products spanning flower, edibles, oils and tablets, and manufactures popular brands including Seed & Strain, Triple Seven, Hedy, gLeaf, Classix, Press, and Amber. For more information, please visit www.cannabistcompany.com.

About Old Pal
Old Pal is a cannabis lifestyle brand that sets the gold standard for quality in the industry. With a focus on simplicity, shareability (in the markets that allow sharing), and unrivaled quality, Old Pal aims to offer an uncomplicated way to integrate cannabis into a balanced, fulfilling life. Old Pal products can now be found in NY, CA, PA, MA, MD, AZ, IL, NV, OH, NM, MI, VA, NJ, WA and FL with more markets launching in 2024. Learn more at oldpal.com.

Caution Concerning Forward-Looking Statements
This press release contains certain statements that constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable securities laws and reflect the Company’s current expectations regarding future events. Forward-looking statements or information contained in this release include, but are not limited to, statements or information with respect to the Company’s ability to execute on retail, wholesale, brand and product initiatives. These forward-looking statements or information, which although considered reasonable by the Company, may prove to be incorrect and are subject to known and unknown risks and uncertainties that may cause actual results, performance or achievements of the Company to be materially different from those expressed or implied by any forward-looking information. In addition, security holders should review the risk factors discussed under "Risk Factors" in Columbia Care’s Form 10-K for the year ended December 31, 2023, as filed with Canadian and U.S. securities regulatory authorities and described from time to time in subsequent documents filed with applicable securities regulatory authorities.

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