The Cannabist Company Holdings Inc. (Cboe CA: CBST) CBSTF 3LP, formerly Columbia Care, announced on Thursday the expansion of its partnership with a lifestyle cannabis brand Old Pal into New Jersey with new products launching in Maryland and Virginia.
"This partnership is not only enhancing brand recognition and loyalty for our partners but is also contributing to our overall performance as we work to build a better business by improving operational efficiencies and increasing canopy utilization and manufacturing capacity," said Jesse Channon, president at The Cannabist Company.
The New York-based cannabis giant recently launched Old Pal classic and infused blunts, 2-pack pre-rolls and its signature 7g Ready to Roll kit in New Jersey.
The Ready to Roll kit features classic pre-ground cannabis, rolling papers and crutches, packaged into a resealable pouch.
The products are available at Cannabist locations in Vineland and Deptford and available across its wholesale channels throughout the Garden State.
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Additionally, Old Pal is expanding its product line in Maryland and Virginia.
Old Pal 14-pk pre-rolls and 1-oz flower offerings, as well as .5g and 1g vape carts are now available in Maryland at the Columbia Care dispensary in Chevy Chase and at gLeaf locations in Rockville and Frederick.
In Virginia, 14g Ready to Roll kits and 2g classic blunts can be found at the eleven Cannabist and gLeaf locations statewide.
The company said, more products will reach shelves in the coming months, pending regulatory approval in each market, including Old Pal x Babish THC-Infused Sugar, which is being crafted with The Cannabist Company's premium flower.
"Our products are selling out extremely fast and customers are increasingly asking where they can find items and when we will be expanding into their markets," Rusty Wilenkin, Old Pal co-founder and CEO, said. "We're stoked this venture is now growing to include multiple markets and can't wait to see what's next."
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CBSTF Price Action
The Cannabist Company's shares traded 2.38% higher at $0.22 per share at the time of writing on Friday morning.
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