Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”), one of the largest and most experienced cultivators, manufacturers and providers of cannabis products in the U.S., has received approval from the New York State Department of Health to commence cultivation and processing operations at its new facility in eastern Long Island, New York. The first harvest is planned for Q4 2021.
“As New York gears up for whole flower in the medical program and future adult-use sales, we will be ready with our scaled and vertically-integrated operations,” said Nicholas Vita, CEO of Columbia Care. “This is an incredible time for the state’s cannabis program. Local leadership is taking swift action to create the foundation on which the program can grow to meet the needs of all New Yorkers in what will be one of the largest markets in the U.S. These steps forward will help create a framework that encourages a more accessible legal market and a more equitable industry. We are grateful for the support we have received from our home state and look forward to contributing to the rollout of its new cannabis vision.”
The acquisition of the Riverhead location was announced in April 2021. The first phase of cultivation will entail 30,000 square feet of canopy, to begin a perpetual harvest cycle in the fourth quarter. Subsequent phases will utilize more of the 740,000 square feet of operational greenhouse space and 200,000 square feet of incremental grow capacity. The expanded square footage will support the growing medical market, with the potential for inclusion in the forthcoming adult use program, with canopy caps expected, and will also eventually provide cultivation space for potential social equity business collaborations as New York’s cannabis industry evolves.
This facility will serve Columbia Care’s four existing medical dispensaries across the state as well as wholesale distribution to the New York metropolitan area, one of the most densely populated urban areas in the United States. Presently, the Long Island location offers supplemental cultivation capacity for the Company’s existing Rochester facility that has served more than 150,000 medical patients since 2015. As a current Registered Organization, Columbia Care intends to add an additional four medical dispensaries in New York, for a total of eight dispensaries in the state, three of which will be co-located with adult-use, pending regulatory approval.
