/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
NEW YORK, Jan. 7, 2021 /CNW/ – Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters (together, the “Underwriters”) and pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 16,150,000 common shares (the “Shares”) in the capital of the Company at a price of C$8.05 per Share (the “Offering Price”) for aggregate gross proceeds to the Company of C$130,007,500 (the “Offering”).
The closing of the Offering is expected to occur on or about January 13, 2021 (the “Closing Date”) and is subject to the completion of formal documentation and receipt of all regulatory approvals, including the approval of the Canadian Securities Exchange and the Aequitas NEO Exchange.
The net proceeds from the Offering will be used for working capital and general corporate purposes.
The Company has granted the Underwriters an option (the “Over-Allotment Option”), exercisable, in whole or in part, by the Underwriters, giving notice to the Company at any