CCHWF - Cresco Labs Columbia Care M&A deal closure extended to June

• U.S. multi-state operator Columbia Care ( OTCQX:CCHWF ) announced Monday that it has mutually agreed with Cresco Labs ( OTCQX:CRLBF ) to extend the completion of the previously disclosed M&A deal between the two firms to June 30 from March 31.
• In March, Cresco Labs ( OTCQX:CRLBF ) agreed to acquire Columbia Care ( OTCQX:CCHWF ) for nearly $2B, including debt, in a transaction initially expected to close in Q4 2022. However, in November, Columbia Care ( OTCQX:CCHWF ) said the transaction was anticipated to complete at the end of Q1 2023.
• The company attributed the latest extension to the need to finalize divestiture agreements and obtain necessary regulatory approvals for close.
• Columbia Care ( OTCQX:CCHWF ) also announced it would report its Q4 2022 financial results on March 29, followed by a conference call.
• Seeking Alpha contributor Alan Brochstein thinks the company shares "will do well even if the merger fails to close."

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