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Columbia Care Launches “100,000,000 Ways to Break the Opioid Crisis” Initiative

May 8, 2019

NEW YORK--(BUSINESS WIRE)--May 8, 2019--Columbia Care Inc. (“Columbia Care”, or the “Company”) (NEO: CCHW), a leading international medical cannabis company, today announced the launch of its new initiative, “100,000,000 Ways to Break the Opioid Crisis,” a nationwide effort to test whether precisely-formulated medical cannabis can be a safe and effective alternative to opioids for pain.

Columbia Care is kicking off the “100,000,000 Ways to Break the Opioid Crisis” initiative by providing its precisely-formulated pharmaceutical-quality cannabis-based medicines for a precedent-setting study to determine whether medical cannabis can reduce participants’ dependence on opioid use in managing pain. This study, which is being conducted at Montefiore Medical Center and Albert Einstein College of Medicine in the Bronx, will add to the body of knowledge to inform healthcare practices and public policies in this arena. The study is expected to be expanded to other hospitals throughout New York State and, ultimately, to other states where Columbia Care’s formulated medical cannabis products are also available.

Renowned addiction experts Dr. Chinazo Cunningham and Dr. Julia Arnsten, who are both researchers at Montefiore and Einstein, are leading the study.

“Despite the fact that millions of Americans experience chronic pain, physicians have few treatment options for these patients beyond opioids. Patients are often faced with a difficult choice, to either live with their chronic pain or risk developing an opioid use disorder,” said Dr. Cunningham.

Dr. Arnsten added, “Conducting this study will enable us to tightly control cannabinoid doses, which is critical to gathering data. This study reflects our commitment at Montefiore and Einstein to explore all potentially therapeutic options to relieve symptoms for all patients, especially patients with chronic pain. We are proud to be working with a partner like Columbia Care.”

Rosemary Mazanet, M.D., Ph.D., Chief Scientific Officer and Chair of the Scientific Advisory Board at Columbia Care continued, “We are honored to collaborate with experts at Montefiore and Einstein on this groundbreaking, large and rigorous scientific study needed to definitively determine whether cannibas-based medicines can be an alternative for opioid use for pain. It’s rare to participate in an initiative that has the potential to save lives, reduce healthcare costs and empower individuals with the freedom of choice – it’s very exciting.”

About Columbia Care Inc.

Columbia Care is one of the United States’ largest and most experienced cultivators, manufacturers and providers of medical cannabis products and services, having completed more than 750,000 successful sales transactions since its inception. Columbia Care is a patient-centered health and wellness company 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.

Forward Looking Statements

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation which are based upon Columbia Care’s current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as “expect”, “likely”, “may”, “will”, “should”, “intend”, “anticipate”, “potential”, “proposed”, “estimate” and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions “may”, “would” or “will” happen, or by discussions of strategy. Forward-looking information include estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, Columbia Care does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Columbia Care to predict all such factors. When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements in Columbia Care’s final prospectus dated March 21, 2019 and filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in Columbia Care’s final prospectus could cause actual events or results to differ materially from those described in any forward-looking information.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190508005867/en/

CONTACT: Investor:

Investor Relations

+1.212.271.0915

ir@col-care.com

Media:

Josephine Belluardo, Ph.D.

LifeSci Public Relations

+1.646.751.4361

jo@lifescipublicrelations.com

KEYWORD: UNITED STATES NORTH AMERICA CANADA

INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY PHARMACEUTICAL

SOURCE: Columbia Care Inc.

Copyright Business Wire 2019.

PUB: 05/08/2019 04:01 PM/DISC: 05/08/2019 04:04 PM

http://www.businesswire.com/news/home/20190508005867/en