Harvest Announces Potential Acquisition of Interurban Capital Group
PHOENIX, Jan. 6, 2020 /PRNewswire/ — Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) (“Harvest”), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced that negotiations to acquire Interurban Capital Group, Inc., the owner and operator of Have a Heart CC (“Have a Heart”), have reached a stage that require disclosure. Preliminary terms contemplate an acquisition price of approximately $87.5 million in Harvest stock and assumption of debt convertible into 205,594 multiple voting shares of Harvest stock, subject to applicable Canadian securities laws. Have a Heart assets include 11 operating dispensaries in California, Washington and Iowa and licenses for seven retail locations in California.
Prior to completion, the potential acquisition remains subject to, among other things, due diligence, the execution of definitive agreements, the receipt of regulatory approvals and the satisfaction or waiver of closing conditions customary for a transaction of this nature.
About Harvest Health & Recreation Inc.
Headquartered in Tempe, Arizona, Harvest Health & Recreation Inc. is a multi-state cannabis operator (MSO) and vertically-integrated cannabis company. Subject to completion of announced acquisitions, Harvest will have one of the largest footprints in the U.S., with rights to operate more than 210 facilities, of which approximately 130 are retail locations, and more than 1,700 employees across 18 states and territories. Since 2011, the company has been committed to expanding its Harvest House of Cannabis retail and wholesale presence throughout the U.S., acquiring, creating and growing leading brands for patients and consumers nationally and continuing on a path of profitable growth. Harvest’s mission is to improve lives through the goodness of cannabis and is focused on its vision to become the most valuable cannabis company in the world. We hope you’ll join us on our journey: https://harvesthoc.com