Columbia Care Announces Closing of Bought Deal Public Offering

Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”) is pleased to announce that it has closed its previously announced bought deal public offering (the “Offering”). The Offering consisted of an aggregate of 18,572,500 common shares of the Company at a price of C$8.05 per Share for aggregate gross proceeds to the Company of C$149,508,625, which included the exercise in full of the over-allotment option granted to the underwriters, before deducting the underwriters’ fees and estimated offering expenses.

Canaccord Genuity Corp., as sole book-runner, and ATB Capital Markets Inc. acted as co-lead ‎underwriters of the Offering, on behalf of a syndicate of underwriters including Beacon Securities Limited, Eight Capital, Echelon Wealth Partners Inc., ‎Paradigm Capital Inc. and PI Financial Corp. Alliance Global Partners acted as financial advisor to the syndicate.

The Offering was conducted in each of the provinces of Canada, other than Québec, pursuant to a prospectus supplement to the Company’s base shelf prospectus dated September 2, 2020 (the “Prospectus”) and elsewhere outside of Canada on a private placement basis.

The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes‎.

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