Currently available in multiple markets, the CNC card will enable

cannabis consumers and dispensaries nationwide to transact

electronically using credit in all of Columbia Care’s markets by the end

of 2019

First legal, transparent and highly scalable credit card solution

available to fast-growing $23B US cannabis industry.

Successful pilot program in New York has average basket size increase

of 18% for patients using their CNC card in place of other forms of

payment

NEW YORK--(BUSINESS WIRE)--Columbia Care Inc. (NEO:CCHW, OTC:COLXF) (“Columbia Care” or the “Company”),

one of the largest multistate operators in the medical cannabis

industry, with licenses in 15 jurisdictions in the US and the EU, today

announced that it is launching its Columbia National Credit program (the

“CNC Card”) across the United States, following a successful pilot

program in New York. With this program, Columbia Care becomes the first

and only cannabis company in the United States capable of directly

accepting a credit card for cannabis purchases.

Recent expansion of the program into the Company’s Delaware and

Pennsylvania markets from New York will be followed later this month by

availability in Illinois and Arizona, with expansion to all Columbia

Care locations by the end of 2019. Available initially at Columbia Care

dispensaries exclusively, the Company is evaluating opportunities

through targeted partnerships for broader market adoption as the premier

and only credit payment option available to the cannabis industry.

“We are in the business of expanding the entire national cannabis

market, and this is exactly the type of industry-wide challenge our team

excels at solving. By launching the first credit card in the country

that can be used by consumers and industry participants to purchase

cannabis products, we now exclusively offer an important capability that

will serve Columbia Care’s national growth initiatives, including home

delivery, automatic fulfillment and e-commerce,” said Nicholas Vita,

chief executive officer of Columbia Care. “If given the choice to pay

with credit or cash, consumers prefer credit, and until now, the

cannabis industry has been predominantly cash-based due to restrictions

on the use of credit cards for cannabis purchases. Through our exclusive

network of partners and painstaking attention to detail, we successfully

navigated the complexities of the financial industry unique to cannabis

and are proud to once again lead the way as the first company to solve

this fundamental issue. Through the launch of the CNC Card, we seek to

further differentiate our customers’ experience by making their journey

as easy and familiar as possible, reaffirming Columbia Care’s commitment

to delivering innovative solutions designed to enhance the patient

experience, build customer loyalty and provide greater access to our

high-quality portfolio of products.”

The Company initially launched the CNC Card as a pilot program in New

York in the second half of 2018 and experienced an 18% increase in

average basket size for in-store purchases using the CNC Card over other

forms of payment, in addition to significant increases in repeat visits

and an increased utilization rate for home delivery and automatic

fulfillment. Home delivery in New York currently represents over 10% of

the Company’s revenue in the state, with an average basket size 40%

greater than those in-store. Upon introducing the CNC Card in New York,

home delivery users became the fastest growing segment of the CNC

program, increasing 25% month-over-month in 2019.

“We are encouraged by the overall results of our pilot program and the

impact it has had on our home delivery customers, who are often unable

to visit our dispensaries for a variety of reasons,” continued Vita.

“Based on our success in New York, one of the most demanding retail

markets in the world, we are confident that the CNC Card has the

potential to be a significant value add for the company and for all of

our customers who look to us for reliable and convenient high-quality

health and wellness options.”

In addition to its utility as a dependable, electronic form of payment,

CNC cardmembers may also be eligible for other benefits including cash

back affinity programs, discounts, educational seminars, first access to

new products and other exclusive offers. More information can be found

About Columbia Care Inc.

Columbia Care Inc. (“Columbia Care” or the “Company”) is one of the

largest and most experienced multi-state operators in the medical

cannabis industry, with licenses in 15 jurisdictions in the US and the

EU. With over 1,000,000 successful sales transactions since its

inception, Columbia Care is a patient-centered organization setting the

standard for compassion, professionalism, quality, caring and

innovation, working in collaboration with some of the most renowned and

innovative teaching hospitals and medical centers in the world. The

Company is committed to providing the type of education and transparency

patients deserve and quality of product that clinicians expect. For more

information on Columbia Care, please visit www.col-care.com.

Contacts

Investor Contact:

Gary Santo

Investor Relations

+1.978.614.0627

Media Contact:

Cait Williamson

LifeSci Public Relations

+1.646.751.4366