Columbia Care Inc. (NEO: CCHW) (OTCQX: CCHWF) (FSE: 3LP) cannabis company has entered into subscription agreements with institutional investors for the purchase and sale of 22,244,210 units of the company at CA$1.52 ($1.13) per unit, for aggregate gross proceeds of roughly CA$33.8 million.

Investors can purchase $25 million in additional units at a price equal to the issue price upon written notice to the company for up to 45 days.

The company and the investors entered into a customary registration rights agreement in connection with the transaction. The units will be subject to limited lock-up requirements.

The closing of the initial tranche is subject to customary closing conditions and is expected to close on or about September 21, 2023.

Columbia Care intends …

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