Harvest Health & Recreation (CSE:HARV) announced it completed the acquisition of San Felasco Nurseries, a company with a medical marijuana dispensary license and authorization to operate in Florida.
As quoted in the press release:
Each Medical Marijuana Treatment Center is allowed to operate up to 25 dispensaries in the State of Florida, subject to increase in certain circumstances.
With this acquisition Harvest’s footprint now includes more than 40 licenses in 10 states and the company has grown to 425 employees.
The purchase price for the acquisition as provided for in the agreement was US$65,676,287.70 comprised of US$34,058,579.32 in cash, US$29,650,920 in Multiple Voting Stock valued at $390 per share and $1,966,788.38 in assumption of debt. In addition, the Company agreed to issue $4,000,000 in Multiple Voting Stock valued at $390 per share to a lender of San Felasco’s as consideration for waiving certain of its rights and extending the term of certain debt and other financing commitments to San Felasco as previously disclosed. The Multiple Voting Stock issuable in these transactions is subject to a lock-up for a period of six months from the date of the closing.
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).