In addition: Columbia Care closed four unprofitable dispensaries in California (1) and Colorado (3) and consolidated cultivation operations in California, Colorado and Pennsylvania to improve their Adjusted EBITDA contribution.
New CA and CO dispensary count is at 5 dispensaries in California and 23 in Colorado.
We have now leapfrogged the company in Colorado dispensary count.
As it relates to SHWZ's CO market, CCHWF closed 3 unprofitable dispensaries and "trimmed" a grow op.
Wonder if any shops they paid a premium for had the doors locked? Is Cresco buying themselves a biz that overspent and spread themselves too thin, ran out of room, all while trying to go head-to-head with illicit thinking they'd have legal much sooner? This is looking like a VRNOF/GDNSF attempt to get infront of a bad deal to me type of PR before it implodes as a worst case offer. I thought this was alredy supposed to have closed? Might the .5579 per share conversion rate go down with 4 fewer dispensaries/grows to obtain? Hell, AW pulled down $70MM for his four in CO as an example. That's a few shiny pennies of premium CCHWF spent in the past. But hey, it's suddenly um, dynamic. Sure. That's the ticket:
"As Columbia Care continues to grow and evolve (like their stock price?), we constantly reassess our operations to objectively determine whether changes are required to drive the business forward. In light of unprecedented inflation and persistent economic headwinds, the current dislocation in the capital markets, and the political and regulatory structures that allow the illicit market to proliferate in some jurisdictions, we have made the decision to restructure targeted areas of our business. As a result, we have elected to proactively manage our operations to enhance profitability, competitiveness and overall success as a market leader in a hyper-dynamic environment."
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