The Cannabist Company Holdings Inc. announced a private placement and entered into subscription agreements with institutional investors to issue 22,244,210 units at an issue price of $1.123887 for the gross proceeds of $24,999,978.44427 on September 18, 2023. Each Unit consists of one Common Share and a one half of one common share purchase warrant. Each Warrant entitles the holder to acquire one Common Share of the Company at a price of $1.44886 (CAD 1.96) per share, a 29% premium to issue, for a period of 3 years following the closing of the Initial Tranche and the Investor Option, as applicable.

The Units will be subject to limited lock-up requirements. Completion of these transactions would be subject to definitive documentation and receipt of all necessary regulatory approvals. The closing of the Initial Tranche is subject to customary closing conditions and is expected to close on or about September 21, 2023.