The Cannabist Company Expands Collaboration with Minority-Owned Edibles Company, ButACake, to Maryland Market

Exclusive Collaboration Launches Popular Oral Dissolvable Strips

The Cannabist Company Holdings Inc. (Cboe CA: CBST) (OTCQX: CBSTF) (FSE: 3LP) (“The Cannabist Company” or the “Company”), one of the most experienced cultivators, manufacturers and retailers of cannabis products in the U.S., announced today the latest development in its collaboration with the minority-owned baked goods and infused edibles company, ButACake, with its launch in the Maryland market.

The partnership expansion into Maryland includes the launch of ButACake’s popular oral dissolvable strips. The 10mg strips are available in 2-packs of Ginger Peach, Chocolate Mint and Blue Blizzard. All products are on shelves at gLeaf locations in Frederick and Rockville, in addition to the Columbia Care location in Chevy Chase. Additional ButACake products will be available in the coming months, pending regulatory approvals.

ButACake first teamed up with The Cannabist Company in April of 2023 by introducing infused baked goods to the Delaware market. Through its collaboration with The Cannabist Company, it entered the New Jersey market in late 2023. ButACake’s debut into Maryland marks the company’s third market.

“ButACake and its founder Matha Figaro produce some of the most amazing, infused cannabis products, and our customers couldn’t agree more. We’ve seen her products disappear as fast as they hit the shelves in New Jersey and Delaware and expect our Maryland customers to love them as well,” said Volley Hayhurst, VP of Operations at The Cannabist Company. “We are thrilled to see this relationship evolve into its third state. Unique partnerships like this not only make The Cannabist Company stand out by allowing our partners to build loyal followers in multiple markets and provide a consistent experience, but they also enable us to increase capacity at our top-tier facilities and ensure we can meet growing market demands.”

ButACake was founded in 2015 by trained pastry chef Matha Figaro as a line of non-infused baked goods sold at farmers’ markets in New Jersey. Now, by collaborating with The Cannabist Company, ButACake is an emerging cannabis brand. Its products are among the top-selling edibles at Cannabist locations in Delaware and New Jersey.

“The Cannabist Company is once again allowing me to share my passion for creating tasty and irresistible products for a new and evolving market like Maryland. Launching in three states in a little over a year has been beyond my wildest dreams as a small business owner, and we’re just getting started,” said Matha Figaro, CEO of ButACake. “This industry is evolving so quickly, and to be a part of the wave of excitement and acceptance is so fulfilling. Whether it's hearing from a patient who finds relief or someone enjoying a ButACake strip to unwind after a long day, it never gets old and brings me such joy.”

To see a menu of products and availability, find your local Maryland dispensary here: https://www.cannabistcompany.com/locations

To learn more about ButACake, visit https://butacake.com/.

About The Cannabist Company (f/k/a Columbia Care)

The Cannabist Company, formerly known as Columbia Care, is one of the most experienced cultivators, manufacturers and providers of cannabis products and related services, with operations in 15 US jurisdictions. The Company operates 120 facilities including 94 dispensaries and 26 cultivation and manufacturing facilities, including those under development. Columbia Care, now The Cannabist Company, is one of the original multi-state providers of cannabis in the U.S. and now delivers industry-leading products and services to both the medical and adult-use markets. In 2021, the Company launched Cannabist, its 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, Hedy, gLeaf, Classix, Press, and Amber. For more information, please visit www.cannabistcompany.com.

About ButACake

ButACake is a leading provider of premium cannabis-infused products, committed to delivering unique and high-quality experiences to cannabis enthusiasts and medical patients. With a focus on innovation, craftsmanship, and the finest ingredients, ButACake continues to push boundaries in the cannabis industry. www.butacake.com

Caution Concerning Forward-Looking Statements

This press release contains certain statements that constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws and reflect the Company’s current expectations regarding future events. Forward-looking statements or information contained in this release include, but are not limited to, statements or information with respect to the Company’s ability to execute on retail, wholesale, brand and product initiatives. These forward-looking statements or information, which although considered reasonable by the Company, may prove to be incorrect and are subject to known and unknown risks and uncertainties that may cause actual results, performance or achievements of the Company to be materially different from those expressed or implied by any forward-looking information. In addition, security holders should review the risk factors discussed under “Risk Factors” in Columbia Care’s Form 10-K for the year ended December 31, 2023, as filed with Canadian and U.S. securities regulatory authorities and described from time to time in subsequent documents filed with applicable securities regulatory authorities.

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