The Cannabist Company Holdings Inc. announce private placement of 9.00% senior secured convertible debentures due 2027 for a principal amount of $19,500,000 issued at a original issue discount and priced at $800 per issuance of $1,000 in principal amount of new Notes on March 15, 2024. The debentures bear a coupon rate of 9% and will mature in March, 2027. The debentures shall be converted into 3,278.6 common shares of the company at a conversion price of $0.305 per Common Share.

The transaction is expected to close on March 19, 2024, is subject to receipt of all regulatory approvals, including the approval of the Exchange.