The Cannabist Company Receives Court Approval for Corporate Restructuring Plan

LOS ANGELES- The Cannabist Company Holdings Inc. a U.S.-based cannabis cultivator, manufacturer, and retailer, has obtained final approval from the Ontario Superior Court of Justice (Commercial List) for its previously announced Plan of Arrangement under Section 192 of the Canada Business Corporations Act. This court approval marks a significant step in the company’s efforts to restructure its corporate framework.

The Plan of Arrangement involves the company and its affiliates, The Cannabist Company Holdings (Canada) Inc. and 16834434 Canada Inc. The closing of the arrangement is anticipated on or around May 29, 2025, pending the receipt of all necessary regulatory approvals. Shareholders eligible to receive new warrants as part of the arrangement will be determined based on a record date set two business days prior to the closing.

This development follows the company’s strategic initiatives aimed at optimizing its operational footprint and enhancing financial performance. Earlier actions included exiting certain markets and divesting underperforming assets to focus on areas with higher growth potential. The court-approved restructuring is expected to provide the company with greater flexibility in pursuing its long-term objectives within the evolving cannabis industry.

The Cannabist Company, formerly known as Columbia Care, operates 81 facilities across 12 U.S. jurisdictions, encompassing 64 dispensaries and 17 cultivation and manufacturing sites. The company offers a range of cannabis products under various brands, including Seed & Strain, Triple Seven, Hedy, gLeaf, Classix, Press, and Amber.