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Columbia Care Launches Cannabis Operations in Ohio

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With the opening of its Level I cultivation facility in Mt. Orab, the company is one of only 17 provisionally licensed Level I cultivators in the state of Ohio and one of nine with a Department of Commerce Certificate of Operation.

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Additional Information:

Company: Columbia Care
Website: http://www.col-care.com
Stock Symbol: NEO: CCHW
Date Published: Jul 12, 2019
Transcript: Available

Video Transcript:

I’m Erica James for Investmentpitch Media

Columbia Care (NEO:CCHW) (OTCPink:COLXF), one of the largest fully-integrated operators in the global medical cannabis industry with licenses in 15 jurisdictions across the US and the UE, announced it has begun operations in Ohio.

With the opening of its Level I cultivation facility in Mt. Orab, the company is one of only 17 provisionally licensed Level I cultivators in the state of Ohio and one of nine with a Department of Commerce Certificate of Operation.

Columbia Care’s 56,000 square foot facility will utilize the maximum available cultivation space permitted under state regulation as the company intends to become vertically-integrated in Ohio through management of several dispensaries and manufacturing operations.

Nicholas Vita, CEO, stated: “2019 is the year we operationalize every market where we are licensed. We announced the launch of operations in California two weeks ago, Florida last week and Ohio this week. With several more market launches to come, this is a very exciting period for the company. The opening of our facility in Mt. Orab marks the launch of our statewide strategy to establish a leading presence in Ohio, one of the most attractive, limited license markets. By bringing our extensive operational experience and unwavering commitment to providing pharmaceutical-quality cannabis-based products to the market, we expect to prove to the Ohio community that Columbia Care is the preeminent, most reliable cultivator of cannabis flower.”

The Ohio Medical Marijuana Control Program has experienced a 13% growth rate on a month over month basis with more than 35,000 patients registering over its first five months, as well as over 500 physicians registered year to date.

As one of the 10 most densely populated US states, Ohio is ranked seventh by absolute population, is the fourth largest state where medical cannabis is legal and has seen total program sales of $13.5 million during the first five months of sales.

Cheston Agles, Ohio market director, added: “Our objective is to serve one of the largest and most highly regulated markets in the United States with the most efficiently cultivated and highest quality flower. Our facility uses the past seven years of collective experience at Columbia Care and integrates the latest cultivation techniques and cloning methodologies combined with process automation for optimal air quality, water application and plant fertigation, to ensure low environmental impact.”

With over 1,000,000 successful sales transactions since its inception, Columbia Care is a patient-centered organization setting the standard for compassion, professionalism, quality, caring and innovation.

The company works in collaboration with some of the most renowned and innovative teaching hospitals and medical centers in the world.

The shares began trading on the NEO Exchange on April 29th and are currently trading at $4.51.

For more information, please visit the company’s website at www.col-care.com, contact Gary F. Santo, Jr., Investor Relations, at 212-271-0915 or by email ir@col-care.com.

I’m Erica James for Investmentpitch Media