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New York Weed Giant The Cannabist Is Selling Its Florida Business, Here’s Why

By Jelena Martinovic
June 17, 12:34 PM
The Cannabist Company Holdings Inc. (Cboe CA: CBST) (OTCQX: CBSTF) (FSE: 3LP) - formerly known as Columbia Care - announced on Monday a series of initiatives as it seeks to transform its business to improve profitability, enhance margin profile and enable cash flow generation.The company said in a press release that a planned corporate restructuring is expected to generate roughly $10 million in annual cost savings.In addition, the Cannabist is in the process of divesting its entire asset portfolio and license in the Florida market, with LOIs for multiple transactions in place and $2.75 million of deposits in escrow.

CBSTF

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3 minute read

Weed Industry Celebrates Biden’s Rescheduling Move: ‘Most Monumental Cannabis Reform In Half A Century’

By Maureen Meehan
May 16, 3:58 PM
Cannabis companies and advocates applaud President Biden's announcement to reschedule and legalize cannabis, calling it a major leap forward and opportunity to correct long-standing wrongs and improve the industry's cashflow.

ACB

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1 minute read

New York Weed Giant’s Collab With Airo Brings Cannabis Vaping To Next Level In These Two States

By Jelena Martinovic
April 26, 11:31 AM
The Cannabist Company Holdings Inc. announced on Friday its latest expansion with Airo Brands, a multi-state cannabis company focused on proprietary, cutting-edge vapor delivery platforms and flavorful, high-quality oils, into Virginia and Pennsylvania. "Expanding into Virginia and Pennsylvania underscores our commitment to providing the highest quality products and demonstrates the precision and expertise of The Cannabist Company to create consistent experiences across multiple markets, which is critical for developing brand equity," Volley Hayhurst, vice president of operations at the New York-based company, said.

CBSTF

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3 minute read

4/20 Cannabis Retail Frenzy: Leading Brands Ready For Record Sales Surge – Who Will Lead?

By Nicolas Jose Rodriguez
April 20, 9:54 AM
This 4/20 cannabis retailers anticipate record-breaking sales fueled by last year's +130% spike and the fortunate alignment of this year's celebration falling on a Saturday.

AAWH