Ms. Lee Ann Evans reports

COLUMBIA CARE ANNOUNCES RECEIPT OF NOTEHOLDER CONSENT FOR AMENDMENT TO TRUST INDENTURE TO INCREASE DEBT CAPACITY

Columbia Care Inc. has received the requisite consent of holders of its 13.00 per cent senior secured notes due May 14, 2023; 5.00 per cent senior secured convertible notes due Dec. 19, 2023; and 6.00 per cent senior secured convertible notes due June 29, 2025, for the proposed amendments to the trust indenture dated May 14, 2020, as supplemented, governing the notes. The key amendment significantly increases the company's borrowing capacity to support growth initiatives.

The proposed indenture amendments are described in the consent solicitation statement, which was mailed to noteholders on or about Jan. 10, 2022, and was filed on SEDAR. As described in the solicitation statement, noteholders who deliver a valid consent are eligible to receive a consent fee of $10 (U.S.) for each $1,000 principal amount of notes, subject to conditions described in the solicitation statement. A supplemental indenture giving effect to the indenture amendments will be filed on SEDAR following its execution.

About Columbia Care Inc.

Columbia Care is one of the largest and most experienced cultivators, manufacturers and providers of cannabis products and related services, with licences in 18 U.S. jurisdictions and the European Union. Columbia Care operates 131 facilities, including 99 dispensaries and 32 cultivation and manufacturing facilities, including those under development. Columbia Care is one of the original multistate providers of medical cannabis in the United States and now delivers industry-leading products and services to both the medical and adult-use markets. In 2021, the company launched Cannabist, its new retail brand, creating a national dispensary network that leverages proprietary technology platforms. The company offers products spanning flower, edibles, oils and tablets, and manufactures popular brands including Seed & Strain, Triple Seven, gLeaf, Classix, Press, Amber and Platinum Label CBD.

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