The Cannabist Company Announces Leadership Transition

The Cannabist Company Holdings Inc. (NEO: CBST) (OTCQX: CBSTF) (FSE: 3LP) (“The Cannabist Company” or the “Company”), one of the largest and most experienced cultivators, manufacturers and retailers of cannabis products in the U.S., announced today that, effective immediately, the Company’s Board of Directors (the “Board”) has appointed David Hart, previously the Company’s President and Chief Operating Officer, as the new Chief Executive Officer. The Board also appointed Jesse Channon, previously the Company’s Chief Commercial Officer, as President. Nicholas Vita will continue to serve as a Director of the Company.

“We all owe Nick a debt of gratitude for having the vision to form what is now The Cannabist Company more than a decade ago. It was his passion for serving people through cannabis that brought together the best teams and partners to deliver on the promise for our patients and customers. I have had the great pleasure of working with Nick at this Company since 2016, and it is my humble honor to take the reins as CEO, working alongside a tremendously talented leadership team. The strength of the team and continued commitment to serving our communities will carry us into this next exciting chapter. We have implemented strategic organizational changes in recent quarters that have prepared us for this change. We are excited for what lies ahead and eager to continue the progress as The Cannabist Company evolves, from continuing to strengthen the balance sheet to expanding our wholesale program and driving organic growth,” said David Hart, Chief Executive Officer of The Cannabist Company.

Vita co-founded The Cannabist Company, formerly Columbia Care, in 2012 when he became the Company’s first employee. He has served as its Chief Executive Officer since then. Under his leadership, the Company has grown to thousands of employees, encompasses 16 fully integrated markets in the U.S., generates more than $500 million in annual revenue, went public on a senior exchange in Canada, and serves countless patients and customers with high-quality products across the national portfolio.

“The Cannabist Company would not exist as it does today without Nick and his fortitude to lead us through the peaks and valleys of running a cannabis company. His passion is infused in everything we do, and we are looking forward to building on those commitments we’ve made to bring a higher experience to everyone we serve and support, both internally and externally. I am incredibly proud to be stepping into this role and to have the opportunity to further shape and define our place as a leader in the cannabis industry,” said Jesse Channon, President of The Cannabist Company.