Cannabist Co Holdings Inc.

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.

Cannabist Co Holdings Inc. completed the previously announced sale of substantially all its Delaware assets for a total consideration of $16.5 million. The transaction included an upfront payment of $14.025 million and $2.475 million placed in escrow, subject to post-closing adjustments. Concurrently, due to ongoing CCAA proceedings and the determination that continued SEC filings would require unreasonable effort and expense, the company announced its intent to cease filing periodic reports, including the 2025 Form 10-K and subsequent quarterly reports.

Jesse Channon, President of The Cannabist Company Holdings Inc., resigned his employment position effective April 1, 2026, and simultaneously entered into a Consulting Engagement Agreement with the company. Channon will provide corporate services as a non-employee consultant for $10,000 per month from April 2, 2026, to July 3, 2026, with potential for extension, marking a significant change in leadership structure.