Columbia Care Inc - CCHWF stock
Introduction[edit]
About[edit]
Columbia Care (OTCMKTS: CCHWF, CSX: CCHW) is an alternative and holistic health service which is operating its cannabis business in more than 18 markets in the United States and European Union.[1] Since its founding in 2012, it has completed about 1,000,000 sales transactions. Columbia Care is renowned for being operated by the industry leader in terms of humanity, competence, reliability, and creativity.[2]
The headquarters of the company is located at Chelmsford, Massachusetts, USA. Nicholas Vita is the Co-Founder and CEO of the company. It trades on the OTCMKTS under the symbol "CCHWF."[3] The company's other symbol are (NEO: CCHW), (CSE: CCHW), (OTCQX: CCHWF), (FSE: 3LP).[4]
CSE Delisting[edit]
Columbia Care Inc. has made the decision to voluntarily remove its common shares from the Canadian Securities Exchange (CSE), and this change was effective from the market's closing on August 2, 2023. However, the company will continue to be listed and traded on the Cboe Canada, which is the new name of the NEO Exchange. Cboe Canada has been Columbia Care's primary securities exchange since the company's initial public listing.[5]
Resources and Facilities[edit]
Including facilities that are open (84) or engaged in construction/renovation (15), Columbia Care runs 99 US stores nationwide, 32 US plantation and production facilities, and 18 jurisdictions in the United States and Europe. It also operates facilities where it offers consulting services in accordance with the terms of a business services arrangement. The company also manages more than 150 acres of land for outdoor cannabis cultivation. Its 5 highest revenue generating markets by revenue are California, Colorado, Massachusetts, Pennsylvania and Virginia. These 5 markets produce more than 50% of the total.[6]
Innovation[edit]
Forage[edit]
Columbia Care introduced Forage, a groundbreaking cannabis finding system on June 09, 2021. Forage is designed to offer easy access to cannabis users. Ordinary cannabis users do not think dispensaries are good places to collect it. In the U.S.A cannabis is legal in many states and more states intent to legalize cannabis. In this regard, Columbia Care has created the concept of "Forage" to provide all cannabis users, regardless of their backgrounds and degrees of experience, with a simple buying experience.[7]
Virtual.Care[edit]
"Virtual.Care delivers Columbia Care’s personalized dispensary experience from any device connected to the web through its proprietary, safe and convenient virtual portal" said Columbia Care CEO Nicholas Vita. Anyone can interact with Colombia Care's officials using internet connected digital devices such as phone, laptop or pc. These experts are trained to virtually accompany cannabis consumers as they browse neighborhood drug stores, to assist them with choosing, buying, or packaging their cannabis.[8]
CNC[edit]
Columbia Care as a new initiative first introduced the CNC Card in 2018. The project came into action fully in 2019. CNC Card saw an 18% overall growth in purchases of cannabis products opposed to conventional payments. Following the launch of the CNC Card in New York, home delivery consumers experienced the CNC program's greatest growth, expanding by 25% month over month in 2019. With an average order size that is 40% bigger than those in-store, home delivery in New York currently accounts for over 10% of the company's sales in the state.[9]
Cannabis Cultivation[edit]
The company operates various complex cultivation sites across the country. The company claims that it never compromise with the dedication and attention to details for their plants,
A 34-acre production facility in Columbia Care's hometown state of NY cost $42.5 million in cash and shares. The phase 2 of the deal will involve the acquisition of 740,000 sq ft of operating green - house equipment at the new location on eastern Long Island, as well as "200,000 square feet of added growth capacity," according to a news release from Columbia Care.[10]
The second cannabis producing and cultivating operations has stared at Columbia Care Inc.'s newest facility in Vineland, New Jersey. Columbia Care boosted all of the cannabis dispensary and store to the maximum level allowable by the state CRC. This second facility is 270,000 square foot in area including greenhouse facility.[11]
Cultivation Highlights[edit]
More than 56,000 incremental Sqft has been added in Q2 2022. This increment increased total planned and cultivated capacity up to 693,000 Sqft. An average of 10g yield per Sqft (DWE per harvest) in Q2 2022.[6]
Brand Partnership[edit]
Columbia Care has engaged in a professional and strategic partnership with Mike Tyson and Pitbull. Juliana Pene- UFC champion and Professional Fighters League (PFL) also hold partnership with Columbia Care. It is also a Cannabis/CBD sponsor of the Professional Fighters league(PFL) for consecutive 2 years.
The company now sells flower, vaporization oil, oils, and hard-pressed tablets. It also produces well-known brands. Among them Classix, Amber, Triple Seven, Hedy, Tyson 2.0, Platinum Partners, Seed & Strain and Platinum Label CBD are most renowned.
Lawsuits[edit]
On behalf of Florida MCBD LLC, Kasowitz Benson Torres filed a lawsuit against Columbia Care on May 29. The complaint claims that Columbia Care and MCBD's joint venture partner Sun Bulb planned to fraudulently misappropriate a medical cannabis business license in Florida.[12]
Management Team[edit]
Nicholas Vita, Chief Executive Officer, CEO, Co-Founder and Vice Chairman[edit]
- Over 750,000 successful patient interactions since opening first facility in mid-2013
- Nation's largest patient registry tracking product efficacy, adverse events, dosing and utilization data to support proprietary product development, research trials and studies
- Over 50 dispensaries and 14 cultivation/manufacturing facilities either operational or in development.
- Among the largest portfolio of branded pharmaceutical, medical and over the counter products in the nation supported by ongoing intellectual property efforts (patents and trademarks).
- ↑ Columbia.care. Company Overview. Accessed on 12/12/2022.
- ↑ Linkedin. Columbia Care. Accessed on 12/12/2022.
- ↑ Market Beat. CCHWF Stock. Accessed on 12/12/2022.
- ↑ Yahoo Finance. Columbia Care Award-Winning Brand Triple Seven Arrives in Tenth Market. August 23, 2022.
- ↑ Cannabis Business Times. Columbia Care to Voluntary Delist Common Shares From CSE. August 1, 2023.
- ↑ 6.0 6.1 IR.col-care.com. [https:/IR.col-care.com Investor Presentations – Second Quarter 2022]. Accessed on 12/12/2022.
- ↑ Businesswire. Leading MSO Columbia Care Revolutionizes Customer Shopping Experience with Launch of ‘Forage,’ an Online Cannabis Discovery Tool. June 9, 2021.
- ↑ IR.col-care.com. Columbia Care Launches First Scalable Virtual Cannabis Shopping Experience Nationwide. April 20, 2020.
- ↑ Businesswire. Columbia Care Announces National Launch of the CNC Card – the Nation’s First Cannabis Industry Credit Card. June 13, 2019.
- ↑ MJBizDaily. Columbia Care acquires New York cannabis cultivation site for $42.5M. April 18, 2022.
- ↑ Businesswire. Columbia Care Operationalizes Second Cultivation Facility in New Jersey and Expands Adult Use Hours at Both Garden State Cannabist Locations. June 7, 2022.
- ↑ Cannabis Business Times. Lawsuit Alleges that Columbia Care Fraudulently Misappropriated Florida Medical Cannabis License. June 5, 2020.
OTC Symbol: CCHWF
