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MarketScreener Homepage  >  Equities  >  CANADIAN NATIONAL STOCK EXCHANGE  >  Harvest Health & Recreation Inc    HARV   CA41755M1023

HARVEST HEALTH & RECREATION INC

(HARV)
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Harvest Health & Recreation : Opens its First Dispensary in Florida, a Pivotal Growth Market for the Multi-State, Vertically Integrated National Cannabis Operator

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02/12/2019 | 08:41am EST

Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF), a vertically integrated public cannabis company with one of the largest footprints in the U.S., announced the opening of its first Florida medical marijuana dispensary, located at 4967 West Irlo Bronson Highway in Kissimmee.

This past November, Harvest Health & Recreation Inc. (Harvest) acquired 100 percent of the issued and outstanding common stock of San Felasco Nurseries, Inc., a holder of a medical marijuana dispensary license and authorization to operate as a Medical Marijuana Treatment Center in Florida. The acquisition provided Harvest with the ability to operate up to 30 dispensaries and produce, process and dispense medical marijuana and marijuana products in Florida. Nationwide, Harvest currently holds licenses for 86 dispensaries, 23 cultivation facilities, and 22 processing facilities across the country.

Harvest of Kissimmee will serve patients and caregivers with valid Florida medical marijuana cards. Harvest’s new retail location will initially offer a wide range of products and expects to add more in the coming weeks. Harvest’s trained staff will also be on site to answer questions about personalized medical cannabis treatments and products to help manage patients’ qualifying conditions.

“We are excited to give patients and caregivers in Florida access to the highest quality products and experience in the cannabis industry,” said Harvest founder and CEO Steve White. “We look forward to helping guide patients as they learn about how they can best manage their healthcare with cannabis. In this process, we will continue to hold ourselves to the most stringent health, safety and quality standards in the industry and look forward to opening many more of our award-winning dispensaries across Florida.”

About Harvest Health & Recreation, Inc.

Harvest Health & Recreation Inc. is one of the first consistently profitable, vertically integrated cannabis companies with one of the largest footprints in the U.S. Harvest’s complete vertical solution includes industry-leading cultivation, manufacturing, and retail facilities, construction, real estate, technology, operational, and brand building expertise — leveraging in-house legal, HR and marketing teams, along with proven experts in writing and winning state-based applications. The company has more than 525 employees with proven experience, expertise and knowledge of in-house best practices that are drawn upon whenever Harvest enters new markets. Harvest’s executive team is comprised of leaders in finance, compliance, real estate and operations. Since its founding in 2011, Harvest has grown its footprint every year, has been ranked as the third largest cultivator in the U.S. and currently owns licenses for more than 130 facilities across the U.S. Harvest shares timely updates and releases as part of its regular course of business with the media and the interested public. For more information, visit: https://www.harvestinc.com/.

Forward-looking Statements

This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Harvest with respect to future business activities. Forward-looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" or similar expressions and include information regarding: (i) expectations regarding the size of the U.S. cannabis market, (ii) the ability of the Company to successfully achieve its business objectives, (iii) plans for expansion of Harvest, and (iv) expectations for other economic, business, and/or competitive factors.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflects Harvest management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Harvest believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the potential impact of an announcement of a going public transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; and in particular in the ability of the Company to raise debt and equity capital in the amounts and at the costs that it expects; adverse changes in the public perception of cannabis; decreases in the prevailing prices for cannabis and cannabis products in the markets that the Company operates in; adverse changes in applicable laws; or adverse changes in the application or enforcement of current laws, including those related to taxation; the inability to locate and acquire suitable companies, properties and assets necessary to execute on the Company's business plans; and increasing costs of compliance with extensive government regulation. This forward-looking information may be affected by risks and uncertainties in the business of Harvest and market conditions.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Harvest has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Harvest does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.


© Business Wire 2019
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Elroy Sailor Independent Director
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