DivestmentAug 13, 2026, 06:32 AM
Cannabist Co to Divest Maryland Operations & Real Estate for up to $13.75M
AI Summary
Cannabist Co Holdings Inc. and its subsidiaries have entered into definitive agreements to divest their cannabis cultivation, manufacturing, and retail operations, along with related real estate, in Maryland. The Maryland Purchase, with Free State Botanicals Holdings LLC, is valued at up to $13.75 million in cash. The Real Estate Purchase, with 6797 Bowman Frederick LLC, involves the buyer assuming existing real estate indebtedness. The transaction, approved by a special committee, is contingent on Canadian court and cannabis regulatory approvals.
Key Highlights
- Cannabist Co to divest Maryland cannabis operations and real estate.
- Maryland operations sale to Free State Botanicals for up to $13.75M cash.
- Maryland real estate sale to 6797 Bowman Frederick LLC.
- Real estate buyer to assume existing indebtedness related to property.
- Transaction approved by a special committee of the board.
- Completion subject to Canadian court approval under CCAA.
- Requires applicable cannabis regulatory approvals in Maryland.
Price Impact
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