On March 24, 2026, The Cannabist Company Holdings Inc. announced significant developments regarding its financial restructuring efforts. The company has entered into two definitive agreements to sell its subsidiaries engaged in cannabis operations in Ohio and Delaware, while simultaneously commencing proceedings under the Companies’ Creditors Arrangement Act (CCAA) in Canada. The asset sales include an equity purchase agreement with Holistic Industries Inc. for $47 million, covering all ownership interests in its Ohio subsidiaries, and an asset purchase agreement with Parma Holdco LLC for $16.5 million for its Delaware operations. These transactions are part of a broader strategy to address ongoing operational and financial challenges faced by the company. The CCAA proceedings aim to facilitate these asset sales and manage the orderly wind-down of operations in non-core markets, including New York and Pennsylvania. The company has also secured support from noteholders representing approximately 60% of its outstanding debt, indicating a collaborative approach to navigate through this restructuring phase. However, the initiation of CCAA proceedings and the asset sales reflect a critical juncture for The Cannabist Company, as it seeks to stabilize its financial position amidst a challenging market environment. The company’s shares are expected to be halted on Cboe Canada Inc., and a delisting review is anticipated, further emphasizing the urgency of its restructuring efforts.

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