Harvest Health & Recreation Inc. (CNSX:HARV) agreed to acquire GreenMart of Nevada LLC from MJardin Group, Inc. (CNSX:MJAR) on December 31, 2019. Harvest Health & Recreation Inc. entered into a definitive agreement to acquire GreenMart of Nevada LLC from MJardin Group, Inc. (CNSX:MJAR) for $35 million on January 2, 2020. As reported, the consideration payable in cash is comprised of $30 million on December 31, 2019 plus $5 million upon license transfer on closing of the acquisition. The purchase price is being financed by an existing Harvest lender. The completion of the acquisition is subject to, among other things, the receipt of regulatory approvals, third party consents and the satisfaction or waiver of closing conditions customary for a transaction of this nature, subject to a financing transaction with which results in net cash proceeds to Buyer or its Affiliates of no less than $5 million. As of June 8, 2020 the transaction is expected to close in the second half of 2020. The transaction has been unanimously approved by the Board of Directors of MJardin Group, Inc., following the unanimous recommendation of a special committee of independent directors of MJardin Group. MJardin Group, Inc. will use the proceeds of the transaction to reduce its debt obligations by $30 million and for working capital requirements for its 2020 plan. Canaccord Genuity Corp. acted as exclusive financial advisor to MJardin. Canaccord Genuity Corp. and Cormark Securities provided fairness opinions to the special committee of the Board of Directors of MJardin Group. The transaction is expected to close in the second half of 2020. Ronald Eppen of Foley &Lardner LLP acted as U.S. counsel and Norton Rose Fulbright Canada LLP acted as Canadian counsel to MJardin Group.

Harvest Health & Recreation Inc. (CNSX:HARV) completed the acquisition of GreenMart of Nevada LLC from MJardin Group, Inc. (CNSX:MJAR) on July 19, 2019. As of April 30, 2021 the transaction has been settled for $4.25 million.