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PURE HARVEST CORPORATE GROUP, INC.

(PHCG)
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Pure Harvest Enters Michigan Market via Partnership with Cannabis Processor HSII

03/24/2020 | 08:01am EDT

Acquisition to Give Pure Harvest Ownership and Expanded Distribution for Pure Harvest Product Line

DENVER, CO, March 24, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Pure Harvest Cannabis Group, Inc. (OTCQB: PHCG), an emerging cannabis and hemp-CBD holding company, is pleased to announce that the Company has entered into an agreement to acquire fifty-one percent (51%) of the outstanding membership interests in How Smooth It Is, Inc. ("HSII,") a Michigan state-licensed medical marijuana processor based in Riverdale, Michigan. The acquisition is subject to PHCG pre-qualification and approval of the Michigan Department of Licensing and Regulatory Affairs (LARA).

HSII plans to offer a wide range of cannabis-infused products including chocolate bars, gummies, beverages, and other Pure Harvest branded products from its 5,800 square foot facility. HSII has the capability of extracting, processing and manufacturing an array of products containing THC and CBD, providing Pure Harvest a nearly unlimited potential product offering under the Pure Harvest brand.

HSII has also submitted applications for four dispensary licenses in Riverdale, White Cloud, Alma, and Mount Pleasant, MI. Upon approval, the HSII dispensaries would join Pure Harvest’s recently announced planned acquisition of SKM.  SKM is a vertically integrated cannabis operator located in Dumont, CO and has recently received approval to move its dispensary to a corner location along the busy I-70 corridor between Denver and Colorado’s world-class ski destinations.

“We have worked tirelessly to secure this fantastic asset for our portfolio and to expand the Pure Harvest brand to the great State of Michigan,” stated Matthew Gregarek, CEO, Pure Harvest Cannabis Group. “We will soon be in play in two vast and well-regulated cannabis states.”

“Most importantly, we are able to greatly expedite the distribution and brand awareness for our Pure Harvest cannabis product line,” added Gregarek. “Pure Harvest will be featured, promoted and monetized throughout Michigan allowing us to advance the brand while enjoying the margins that can come with selling your own products rather than entirely relying on outside sources.”

About Pure Harvest Cannabis Group

Pure Harvest Cannabis Group, Inc. (OTCQB: PHCG) is a publicly-traded holding company involved in all cycles of cannabis and CBD development. The team is committed to providing the highest quality products, ethical growing standards, environmental awareness, and corporate integrity. Pure Harvest intends to develop into a large scale vertically integrated multi-state operator (MSO), producer, and distributor in well-established and growing markets.

Pure Harvest is focused on developing precision dosed cannabinoid health and wellness consumer products. The Company's goals include establishing Pure Harvest as an iconic consumer product brand offering a wide variety of cannabis/CBD products that can be sold in multiple international markets that have legalized cannabis and hemp-derived products.

Forward-Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rules 175 and 3b-6 of the Securities and Exchange Commission, and are subject to the safe harbors created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Future events and results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.

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ę GlobeNewswire 2020
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Financials (USD)
Sales 2020 0,74 M - -
Net income 2020 -6,35 M - -
Net Debt 2020 2,87 M - -
P/E ratio 2020 -3,88x
Yield 2020 -
Capitalization 33,6 M 33,6 M -
EV / Sales 2019 431x
EV / Sales 2020 46,6x
Nbr of Employees 25
Free-Float 97,0%
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Managers and Directors
Matthew D. Gregarek Chairman & Chief Executive Officer
David Burcham President & Director
Alexander Glueckler Chief Financial & Accounting Officer
Peyton Bowman Chief Operating Officer
Donnie Emmi Director
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