Collaboration Will Introduce Old Pal to New Markets and Provide a Path to Remain in Previously Successful States Across theU.S.
NEW YORK--(BUSINESS WIRE)--Nov. 30, 2023-- (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 theU.S., announced today it is launching a partnership with Old Pal, a top-performing lifestyle cannabis flower brand renowned for its unrivaled quality, accessibility and simplicity.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231130260631/en/
The collaboration will kick off withOld Pal and The Cannabist CompanyinMarylandandVirginiaand will continue to roll out in additional states across its dispensary network in 2024, pending regulatory approval. Old Pal is currently available in more than 10 major markets and is positioned in the top 10% for brand awareness in the cannabis industry, as per theOctober 2023Brand Performance Report by Pioneer Intelligence (pioneer.buzz).The Cannabist Companywill begin production inMarylandof Old Pal’s unique 14g Ready to Roll kit, which includes classic pre-ground cannabis, hemp rolling papers, and crutches, packaged into a resealable pouch – everything you need to roll the perfect joint. The partnership will expand with the production of Old Pal’s 1g vapes and Palitos pre-roll packs, which contain 10 mini joints filled with 0.35g of premium cannabis.
“The Cannabist Company works extremely hard at meeting the needs of our patients and customers and answering a higher calling by providing the best possible products on our shelves. Forming meaningful partnerships with amazing companies like Old Pal helps us strengthen the entire cannabis industry and fulfill our promise to our communities across the country,” saidJesse Channon, The Cannabist Company’s Chief Commercial Officer. “The name says it all - ‘Old Pal’, a trusted brand consumers know, love, and can turn to when looking for good, quality cannabis at an affordable price. We feel very connected to their entire brand ethos, especially around accessibility, and can’t wait to bring it back toMarylandand then introduce this incredible product to more markets like Virginia.”
“We are stoked to kick off this collaboration withThe Cannabist Company,” saidRusty Wilenkin, Old Pal Co-founder and Chief Executive Officer. “It's invigorating to partner with a multi-state operator that embraces the power of partnerships in the current state of the industry. Thanks to theCannabist Company'sbrand expansion mindset, we can bring Old Pal's exceptional quality, legacy and shareable lifestyle to a broader consumer audience.”
For more information, visit cannabistcompany.com and oldpal.com.
AboutThe Cannabist Company(f/k/aColumbia Care)
The Cannabist Company, formerly known asColumbia Care, is one of the largest and most experienced cultivators, manufacturers and providers of cannabis products and related services, with licenses in 16 U.S. jurisdictions. The Company operates 125 facilities including 94 dispensaries and 31 cultivation and manufacturing facilities, including those under development.Columbia Care, nowThe Cannabist Company, is one of the original multi-state providers of cannabis in theU.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,IL, NV, OH, AZ, MO, NM, MD, OK with more markets coming in 2023.
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, securityholders should review the risk factors discussed under “Risk Factors” in Columbia Care’s Form 10-K for the year endedDecember 31, 2022, as, filed with Canadian andU.S.securities regulatory authorities and described from time to time in subsequent documents filed with applicable securities regulatory authorities.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231130260631/en/
Lee Ann Evans
SVP, Capital Markets
Source:The Cannabist Company Holdings Inc.