The Cannabist Company Announces Leadership Transition

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David Hart Appointed to CEO and Jesse Channon to President

Nicholas Vita to Retire and Will Proceed to Function Member of Board of Administrators

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NEW YORK — The Cannabist Firm Holdings Inc. (NEO: CBST) (OTCQX: CBSTF) (FSE: 3LP) (“The Cannabist Firm” or the “Firm”), one of many largest and most skilled cultivators, producers and retailers of hashish merchandise within the U.S., introduced right now that, efficient instantly, the Firm’s Board of Administrators (the “Board”) has appointed David Hart, beforehand the Firm’s President and Chief Working Officer, as the brand new Chief Govt Officer. The Board additionally appointed Jesse Channon, beforehand the Firm’s Chief Industrial Officer, as President. Nicholas Vita will proceed to function a Director of the Firm.

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“All of us owe Nick a debt of gratitude for having the imaginative and prescient to type what’s now The Cannabist Firm greater than a decade in the past. It was his ardour for serving folks by way of hashish that introduced collectively one of the best groups and companions to ship on the promise for our sufferers and prospects. I’ve had the nice pleasure of working with Nick at this Firm since 2016, and it’s my humble honor to take the reins as CEO, working alongside a tremendously gifted management group. The power of the group and continued dedication to serving our communities will carry us into this subsequent thrilling chapter. We have now carried out strategic organizational modifications in latest quarters which have ready us for this alteration. We’re excited for what lies forward and wanting to proceed the progress as The Cannabist Firm evolves, from persevering with to strengthen the steadiness sheet to increasing our wholesale program and driving natural development,” stated David Hart, Chief Govt Officer of The Cannabist Firm.

Vita co-founded The Cannabist Firm, previously Columbia Care, in 2012 when he grew to become the Firm’s first worker. He has served as its Chief Govt Officer since then. Underneath his management, the Firm has grown to 1000’s of workers, encompasses 16 totally built-in markets within the U.S., generates greater than $500 million in annual income, went public on a senior change in Canada, and serves numerous sufferers and prospects with high-quality merchandise throughout the nationwide portfolio.

“The Cannabist Firm wouldn’t exist because it does right now with out Nick and his fortitude to steer us by way of the peaks and valleys of operating a hashish firm. His ardour is infused in the whole lot we do, and we’re wanting ahead to constructing on these commitments we’ve made to deliver the next expertise to everybody we serve and assist, each internally and externally. I’m extremely proud to be getting into this position and to have the chance to additional form and outline our place as a pacesetter within the hashish {industry},” stated Jesse Channon, President of The Cannabist Firm.

“This determination to retire was not made flippantly. Having been the longest serving CEO within the historical past of the {industry}, I’m grateful to my group and our workers for his or her years of dedication, professionalism, and tenacity. As the primary worker, I’ve seen this firm attain new heights and overcome super challenges over the previous 12 years. I’m pleased with the corporate we’ve constructed and am assured within the expert management that can now steer the ship. Though my subsequent endeavor is targeted on the extremely vital, and deeply private, process of groundbreaking analysis for ultrarare pediatric ailments through a gene remedy platform I helped to develop, I’m happy to stay on as a member of the Board of Administrators and can proceed to assist the Firm because it enters this subsequent chapter,” stated Nicholas Vita, Co-Founder.

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“Founder, strategist, tactician, Nick poured his coronary heart and soul into the corporate. His strategic steering over the previous 12 years paved the way in which for the thrilling chapters forward beneath David and Jesse’s management,” stated James A.C. Kennedy, member of the Board of Administrators on the Firm.

David Hart joined The Cannabist Firm in 2016 and have become Chief Working Officer in 2018. Previous to becoming a member of The Cannabist Firm, David served as Chief Working Officer of Abyrx, a enterprise capital-backed medical gadget firm that developed, manufactured, and commercialized a portfolio of intraoperative cross specialty hemostats. Previous to his time at Abyrx, David was Chief Monetary Officer and Chief Funding Officer at Alpine Capital, a household funding workplace for the Ranawat Orthopedic Group on the Hospital for Particular Surgical procedure, the place he was liable for capital allocations, direct non-public investments, and all healthcare investments. David was additionally beforehand the Accomplice and Head of Healthcare Fairness Investments at Apelles Funding Administration. David began his profession within the monetary providers {industry} within the Mergers and Acquisitions teams at Thomas Weisel Companions and Duff & Phelps. David has an MBA from Columbia College and is a graduate of Duke College.

Jesse Channon joined The Cannabist Firm in December 2019 as Chief Progress Officer. Jesse is an completed and award-winning chief with a background in growing transformative applied sciences and digital advertising and marketing platforms, having suggested and labored with among the largest manufacturers and companies on this planet. A member of the founding group at PageLever, a Y Combinator-backed firm, Jesse oversaw all income and partnerships, working with firms similar to YouTube, Microsoft, Intel and Toyota to construct one of many first real-time functions on Fb’s API and incomes certification within the first wave of Most well-liked Advertising and marketing Builders. In 2013, PageLever offered to Unified, a New York Metropolis-based Advert Tech firm, the place Jesse spent six years on the senior administration group. After Unified, Jesse served as Chief Income Officer for Social Native, a customized content material market. Jesse additionally serves on the Entrepreneurship Advisory Board for the Harbert Faculty of Enterprise at his alma mater Auburn College.

About The Cannabist Firm (f/ok/a Columbia Care)

The Cannabist Firm, previously generally known as Columbia Care, is likely one of the largest and most skilled cultivators, producers and suppliers of hashish merchandise and associated providers, with licenses in 16 U.S. jurisdictions. The Firm operates 125 amenities together with 94 dispensaries and 31 cultivation and manufacturing amenities, together with these beneath growth. The Cannabist Firm is likely one of the unique multi-state suppliers of hashish within the U.S. and now delivers industry-leading services and products to each the medical and adult-use markets. In 2021, the Firm launched Cannabist, its retail model, making a nationwide dispensary community that leverages proprietary expertise platforms. The corporate presents merchandise spanning flower, edibles, oils and tablets, and manufactures standard manufacturers together with Seed & Pressure, Triple Seven, Hedy, gLeaf, Classix, Press, and Amber. For extra data, please go to www.cannabistcompany.com.

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Warning Regarding Ahead Wanting Statements

This press launch incorporates sure statements that represent “forward-looking data” or “forward-looking statements” throughout the which means of relevant securities legal guidelines and mirror the Firm’s present expectations relating to future occasions. Ahead-looking statements or data contained on this launch embrace, however aren’t restricted to, statements or data with respect to the way forward for the Firm, the Firm’s administration, and the Firm’s skill to execute on retail, wholesale, model and product initiatives. These forward-looking statements or data, which though thought of affordable by the Firm, could show to be incorrect and are topic to identified and unknown dangers and uncertainties which will trigger precise outcomes, efficiency or achievements of the Firm to be materially totally different from these expressed or implied by any forward-looking data. As well as, securityholders ought to evaluation the chance elements mentioned beneath “Threat Components” within the Firm’s Type 10-Ok for the yr ended December 31, 2022, as filed with Canadian and U.S. securities regulatory authorities and described on occasion in subsequent paperwork filed with relevant securities regulatory authorities.

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Contacts

Buyers
Lee Ann Evans
SVP, Capital Markets
investor@cannabistcompany.com

Media
Lindsay Wilson
SVP, Communications
media@cannabistcompany.com

#distro

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