The Cannabist Company Announces Closing of US$25.75 Million Private Placement Offering of 9% Senior Secured Convertible Debentures Due 2027 - Seite 2

The net proceeds from the Offering will be used for repayment of debt, including the remaining US$13.2 million of the Company’s 13% senior secured notes due May 2024, working capital and general corporate purposes.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The Notes and the Common Shares issuable upon conversion of the Notes have not been and the Notes will not be registered under the U.S. Securities Act or any state securities laws, and accordingly, may not be offered or sold unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Advisors

ATB Securities Inc. acted as the sole bookrunner and agent for the Brokered Offering.

About The Cannabist Company (f/k/a Columbia Care)

The Cannabist Company, formerly known as Columbia Care, is one of the largest and most experienced cultivators, manufacturers and providers of cannabis products and related services, with licenses in 15 U.S. jurisdictions. The Company operates 124 facilities including 93 dispensaries and 31 cultivation and manufacturing facilities, including those under development. 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.

No Offer or Solicitation

This communication is not intended to and does not constitute an offer to sell, buy or subscribe for any securities or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. In particular, this communication is not an offer of securities for sale into the United States. No offer of securities shall be made in the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”)) absent registration under the U.S. Securities Act and applicable state securities laws, or pursuant to an exemption from, or in a transaction not subject to, such registration requirements. In addition, hedging transactions may not be conducted unless in compliance with the U.S. Securities Act.