Proactiveinvestors USA & Canada Harvest One Cannabis Inc https://ca.proactiveinvestors.com Proactiveinvestors USA & Canada Harvest One Cannabis Inc RSS feed en Tue, 26 Mar 2019 08:34:56 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Harvest One completes first shipment of medical cannabis to Shoppers Drug Mart ]]> https://ca.proactiveinvestors.com/companies/news/216955/harvest-one-completes-first-shipment-of-medical-cannabis-to-shoppers-drug-mart-216955.html Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) announced Thursday that through its wholly-owned subsidiary and cultivation arm United Greeneries Ltd, it had completed its first shipment of medical cannabis to Shoppers Drug Mart.

The company’s Satipharm-branded cannabis is now available for purchase on the Shoppers Drug Mart's online medical cannabis website. Canadian regulations still restrict the sale of medical cannabis through pharmacies.

Under the terms of the supply agreement disclosed Monday, Harvest One is supplying SatiSilver (Great White Shark) which has a moderate THC content, and SatiGreen, a CBD tonic with a 1:1 ratio of THC and cannabidiol.

READ: Harvest One to supply medical cannabis to Shoppers Drug Mart

“We are all focused on executing the strategy of being a leading health, wellness, and self-care company in the cannabis sector,” said Harvest One CEO Grant Froese. “Just days after announcing our supply agreement with Shoppers Drug Mart, we are proud to see that our product is already available for medical consumers.”

United Greeneries has two main facilities, the Duncan Facility on Vancouver Island in British Columbia and the Lucky Lake Facility in Saskatchewan.

The Duncan Facility has 10,000 square feet of cultivation area and is licensed to cultivate and distribute medical marijuana by Health Canada. It has an in-house biochemical and analytical lab.

The facility can produce 1,000 kilograms of cannabis per annum, according to the company’s website.

This marks the first time that Satipharm-branded cannabis will be available for purchase in Canada.

Incorporating two strains

United Greeneries will produce and ship an Indica variety of SatiSilver and a hybrid variety of SatiGreen.

The two major types of cannabis plants are Indica and Sativa. Each strain has its own range of effects on the body and mind, resulting in a wide range of medicinal benefits. Indica strains generally provide a sense of deep body relaxation. Sativa strains tend to provide a more energizing experience.

Vancouver-based Havest One has three wholly-owned subsidiaries: United Greeneries, which is a licensed producer; Satipharm, which develops cannabis-based health products; and Dream Water, which offers consumer sleep aids.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

]]>
Thu, 21 Mar 2019 09:23:00 -0400 https://ca.proactiveinvestors.com/companies/news/216955/harvest-one-completes-first-shipment-of-medical-cannabis-to-shoppers-drug-mart-216955.html
<![CDATA[Media files - Harvest One’s recent deal with Shoppers Drug Mart another key to long term growth ]]> https://ca.proactiveinvestors.com/companies/stocktube/12649/harvest-ones-recent-deal-with-shoppers-drug-mart-another-key-to-long-term-growth-12649.html Tue, 19 Mar 2019 15:42:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/12649/harvest-ones-recent-deal-with-shoppers-drug-mart-another-key-to-long-term-growth-12649.html <![CDATA[News - Buds & Duds: Harvest One acquires Delivra; ICC inks licensing agreement ]]> https://ca.proactiveinvestors.com/companies/news/216785/buds--duds-harvest-one-acquires-delivra-icc-inks-licensing-agreement-216785.html The cannabis sector thrived Tuesday along with the broader US market. 

The North American Marijuana Index, which tracks top cannabis stocks, grew 1% to 303.6.

Buds

Harvest One Cannabis Inc (OTCMKTS:HRVOF) (CVE:HVT) announced an agreement Tuesday to acquire issued and outstanding common stock of Delivra Corp (OTCMKTS: DLRVF) (CVE:DVA). 

Delivra shareholders will get about 0.5 share of Harvest One for each Delivra share. Vancouver-based Harvest One acquired Delivra’s LivRelief brand, which boosts the company’s standing in advance of the legalization of infused cannabis products this fall in Canada.

Shares of Harvest One jumped more than 13% to C$1.12 in Toronto and climbed nearly 12% to US$0.83 on the OTC Markets. Delivera gained 9.1% to C$0.60 in Canada and was up 11% to US$0.45.

ICC International Cannabis Corp (OTCMKTS:WLDCF) (CSE:WRLD) announced Tuesday signing a licensing agreement with Authentic Brands Group to market and distribute cannabidiol health and wellness products in Europe. Vancouver-based ICC is licensing brands named after Marilyn Monroe, Elvis Presley and Frederick's of Hollywood.

The stock of ICC was up 1.5% to C$0.34 on the CSE and climbed 1.6% to US$0.34 on OTC Markets.

READ: Empower Clinics gleans key patient insights from its artificial intelligence program

Empower Clinics Inc (OTCMKTS:EPWCF) (CSE:EPW) announced Tuesday that the artificial intelligence tools supplied by Canntop AI as part of its pilot program was helping the medical cannabis company create “actionable insights” to improve patient care.

Vancouver-based Empower said Canntop AI provided crucial search engine optimization (SEO) terms and phrases that Canntop integrated into the artificial intelligence platform so Empower could get more insights about Portland, Oregon, and Phoenix, its two largest markets.

The share price of Empower spiked 11% to C$0.15 on the CSE. 

Duds

GrowGeneration Corp (OTCMKTSGRWG) fell nearly 5% to $3.06.

Origin House (OTCQX:ORHOF) (CSE:OH) slipped 0.5% to C$10.13 in Canada and was down 3% to $7.56 on the OTC Markets.

 

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

]]>
Tue, 19 Mar 2019 12:56:00 -0400 https://ca.proactiveinvestors.com/companies/news/216785/buds--duds-harvest-one-acquires-delivra-icc-inks-licensing-agreement-216785.html
<![CDATA[News - Harvest One to supply medical cannabis to Shoppers Drug Mart ]]> https://ca.proactiveinvestors.com/companies/news/216658/harvest-one-to-supply-medical-cannabis-to-shoppers-drug-mart-216658.html Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) struck an agreement Monday to be a medical cannabis supplier to Shoppers Drug Mart through its wholly-owned subsidiary and cultivation arm United Greeneries Ltd.

Under the terms of the deal, Harvest One will supply Shoppers Drug Mart with Satipharm branded medical cannabis products for its online medical cannabis website. Canadian regulations still restrict the sale of medical cannabis through pharmacies.

"We are incredibly proud to be working with Shoppers Drug Mart to supply them with our premium, indoor grown cannabis under the Satipharm health and wellness brand," said Harvest One CEO Grant Froese. "We see this supply agreement as a further step towards fulfilling our vision of being a vertically integrated house of brands in the cannabis health, wellness, and self-care sector.”

Harvest One climbed 17.4% to US$0.70 on the OTC Markets, while it went up nearly C$15.1% in Canada. 

READ: Flowr Corp’s medical cannabis available to patients online at Shoppers Drug Mart

United Greeneries has two main facilities, the Duncan Facility on Vancouver Island in British Columbia and the Lucky Lake Facility in Saskatchewan.

The Duncan Facility has 10,000 square feet of cultivation area and is licensed to cultivate and distribute medical marijuana by Health Canada. It has an in-house biochemical and analytical lab.

The facility can produce 1,000 kilograms of cannabis per annum, according to the company’s website.

This marks the first time that Satipharm branded cannabis will be available for purchase in Canada.

Incorporating two strains

The company said that it would work with Shoppers Drug Mart to help consumers make educated decisions. All Satipharm products will be color-coded to indicate their position on the progression chart from the high THC of SatiWhite to the high CBD of SatiPurple.

United Greeneries will produce and ship an Indica variety of SatiSilver and a hybrid variety of SatiGreen.

The two major types of cannabis plants are Indica and Sativa. Each strain has it's own range of effects on the body and mind resulting in a wide range of medicinal benefits. Indica strains generally provide a sense of deep body relaxation. Sativa strains tend to provide a more energizing experience.

“We continue to expand our capacity to support our growing brand portfolio which includes our recently announced transaction with Delivra as well as our existing brands Dream Water, Satipharm, Royal High, and Captain's Choice" said Grant.

Dream Water is an all-natural, zero calorie sleep aid that is already available in 30,000 stores across the US and Canada. Comprised of three active ingredients (GABA, Melatonin and 5-HTP), the sleep aid caters to people who face difficulty falling asleep. Harvest One is now formulating a cannabidiol (CBD) version of Dream Water that will be made available where it is legal.

Vancouver-based Havest One serves as an umbrella over three wholly-owned subsidiaries: United Greeneries, which is a licensed producer; Satipharm, which develops cannabis-based health products; and Dream Water, which offers consumer sleep aids.

—(Updated with stock price)—

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

]]>
Mon, 18 Mar 2019 12:48:00 -0400 https://ca.proactiveinvestors.com/companies/news/216658/harvest-one-to-supply-medical-cannabis-to-shoppers-drug-mart-216658.html
<![CDATA[News - Harvest One's Dream Water signs new supply deals for sleep aids with Walmart US and Kroger ]]> https://ca.proactiveinvestors.com/companies/news/216562/harvest-one-s-dream-water-signs-new-supply-deals-for-sleep-aids-with-walmart-us-and-kroger-216562.html Harvest One Cannabis Inc (CVE:HVT) (OTCQX:HRVOF) told investors Friday that its subsidiary Dream Water has new supply agreements with Walmart US and Kroger Co (NYSE:KR).

Dream Water is an all-natural, zero calorie sleep aid that is already available in 30,000 stores across the US and Canada. Comprised of three active ingredients (GABA, Melatonin and 5-HTP), the sleep aid caters to people who face difficulty falling asleep.

READ: Harvest One shakes up the global cannabis space with a full house of brands

The company’s new supply agreements with Walmart US and Kroger follow existing pacts with Shoppers Drug Mart, Loblaws, Circle K, Canadian Tire, Amazon and Hudson News.

Harvest One is now formulating a cannabidiol (CBD) version of Dream Water that will be made available where it is legal.

In other news, Dream Water has received a key Certified for Sporttrademark designation, which means its products have been tested for athletes and can be recommended by the NHL, NFL, PGA and other sports leagues.

Headquartered in Toronto, Harvest One serves as an umbrella over three wholly-owned subsidiaries: United Greeneries, which is a licensed producer; Satipharm, which develops cannabis-based health products; and Dream Water, which offers consumer sleep aids.

Harvest One shares slipped C$0.02 to finish at C$0.71 in Canadian trade on Thursday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

 

]]>
Fri, 15 Mar 2019 08:30:00 -0400 https://ca.proactiveinvestors.com/companies/news/216562/harvest-one-s-dream-water-signs-new-supply-deals-for-sleep-aids-with-walmart-us-and-kroger-216562.html
<![CDATA[News - Harvest One Cannabis acquires Delivra for CA$19M in all stock deal to strengthen its medical and wellness division ]]> https://ca.proactiveinvestors.com/companies/news/215733/harvest-one-cannabis-acquires-delivra-for-ca19m-in-all-stock-deal-to-strengthen-its-medical-and-wellness-division-215733.html Harvest One Cannabis Inc (CVE:HVT) (OTCQX:HRVOF) announced Monday that it has entered into a definitive agreement to acquire  Delivra Corp. (TSXV:DVA) for C$19 million in a stock deal to strengthen its medical and wellness division.

Under the terms of the arrangement, shareholders of Delivra will receive 0.595 common shares of Harvest One for each Delivra Share.

Based on the closing trading price of the Harvest One shares on the TSX-V on March 1, 2019, the implied value equates to approximately $0.39 per Delivra share, and represents a total equity consideration of approximately CA$19 million, said the company while discosing terms of the transaction.

Harvest One, which develops and provides lifestyle and wellness products for consumers and patients, has a robust balance sheet, with a cash balance of C$41 million as of Dec. 31, 2018. 

Shares of Harvest One were up 1.4% to US$0.52 in morning trading in New York, while Canadian-traded shares were flat at CA$0.66.

READ: Harvest One Cannabis sees second successive quarter of record growth

Harvest One's acquisition of Delivra furthers the company's health, wellness, and self-care strategy by adding LivRelief to its medical and wellness portfolio. Delivra’s LivRelief brand produces a variety of topicals and creams with existing distribution channels across Canada. This will position Harvest One well when cannabis-infused products are legalized in Canada around Fall of 2019.

"The acquisition of Delivra by Harvest One puts further emphasis on the Harvest One goal of being a leading house of brands in the global health, wellness, and self-care sector,” said Harvest One CEO Grant Froese. “The addition of LivRelief, which is already on retail shelves across Canada, will give Harvest One a head start for cannabis-infused products in Canada.”

Transaction rationale 

Delivra will immediately add to the revenue of Harvest One with its existing distribution into Shoppers Drug Mart, Walmart, Loblaw, Rexall, Pharmasave, London Drugs, and other major retailers in conjunction with Harvest One's existing distribution of Dream Water in 30,000 stores across North America

Froese said it is “a great addition” to the company’s existing brands in this space with Satipharm CBD GelPell capsules already on sale in Europe, and Dream Water, its natural sleep aid, available across North America.

Harvest One has initiated its product development strategy to produce oil-based derivative products, through its extraction agreement with Valens GroWorks Corp (CSE:VGW).

Subsidiary Satipharm, which develops cannabis-based health products, launched sales of its reformulated proprietary capsules online in the United Kingdom and in the European Union where local regulations allow. The company said brick and mortar distribution will be available shortly with Canadian distribution to follow.

READ: Harvest One Cannabis inks validation testing agreement with BLOCKStrain Technology

"We are very excited to welcome Dr Joseph Gabriele and the Delivra team into the Harvest One family and expanding our brand portfolio,” added Froese.

The addition of Dr Gabriele's expertise in pain relief R&D will be a major boost for Harvest One's in-house formulation and product development team.

"The transaction with Harvest One is an exciting and important step for our shareholders and is the result of an extensive strategic review process," said Delivera CEO Dr Joseph Gabriele. "Harvest One is a global leader in the cannabis space, focusing on innovative lifestyle and wellness products. Combined with our proprietary transdermal delivery system platform and extensive research, development and commercialization capabilities, the combined company is extremely well-positioned to take advantage of the growing market for topicals, sprays, beverages, and other cannabis/CBD-infused products."

He described it as "a value-maximizing transaction" that provides Delivera shareholders with "a significant premium and an exciting opportunity to participate in the upside of Harvest One."

The transaction is subject to the approval of the Ontario Superior Court of Justice and also requires the approval of two-thirds of the votes cast by Delivra shareholders at a special meeting to be convened in May, said the company.

At its Duncan, British Columbia and Lucky Lake, Saskatchewan facilities, expansion plans for Harvest One are on track as the company is targeting an annual run rate of 20,000 kg premium indoor grown flower by the end of December 2019. 

On Tuesday (March 5) Harvest One noted in a statement that investor MMJ Group Holdings Ltd, following the forecast completion of the Delivra acquisition, will own around 26% of  the group, down from around  30% previously.

-- (Updates with quotes from Delivera CEO Dr Joseph Gabriele) -- 

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

]]>
Mon, 04 Mar 2019 09:35:00 -0500 https://ca.proactiveinvestors.com/companies/news/215733/harvest-one-cannabis-acquires-delivra-for-ca19m-in-all-stock-deal-to-strengthen-its-medical-and-wellness-division-215733.html
<![CDATA[News - Harvest One Cannabis sees second successive quarter of record growth ]]> https://ca.proactiveinvestors.com/companies/news/215569/harvest-one-cannabis-sees-second-successive-quarter-of-record-growth-215569.html Harvest One Cannabis Inc (CVE:HVT) (OTCQX:HRVOF) announced Thursday that its net revenue in the second quarter of 2019 was $3.7 million, a boost of 123% over Q1 2019. 

The company said the increase was primarily attributed to initial recreational cannabis load-ins under its supply agreements with British Columbia, Ontario, Manitoba and Saskatchewan.

"We are delighted to announce our second successive quarter of record growth for Harvest One with an increase of 123% in revenue over the previous quarter," said CEO Grant Froese in a statement. "These results reflect a successful roll out of our recreational strategy as we continue to deliver on our agreements with all our provincial and private partners. As we focus on operational excellence and execute on our strategy across all our divisions, we will continue to drive revenue growth for Harvest One throughout 2019".

READ: Harvest One Cannabis inks validation testing agreement with BLOCKStrain Technology

Harvest One said it had a Q2 2019 gross margin before fair value adjustments of 47%.

"Included in this, is a gross margin of 53% for United Greeneries which is in line with larger Canadian Licensed Producers," the company said in a statement. 

Robust cash position 

The company maintains a robust balance sheet, with a cash balance of $41.0 million as of Dec. 31, 2018. 

According to the company, Harvest One's cash position means all current expansion plans are fully funded and allows for accretive transactions that support its brand and product development strategy.

Other highlights

The company also pointed to a number of other highlights. 

Harvest One has initiated its product development strategy to produce oil-based derivative products, through its extraction agreement with Valens GroWorks Corp (CSE:VGW). 

Subsidiary Satipharm, which develops cannabis-based health products,  launched sales of its reformulated proprietary capsules online in the United Kingdom and in the European Union where local regulations allow. The company said brick and mortar distribution will be available shortly with Canadian distribution to follow.

READ: Harvest One launches Satipharm reformulated CBD capsules in Europe

At its Duncan, British Columbia and Lucky Lake, Saskatchewan facilities, expansion plans are on track as the company is targeting an annual run rate of 20,000 kg premium indoor grown flower by the end of December 2019. 

Notably, the company upgraded to the OTCQX under the ticker HRVOF, which has increased its exposure to the US investment community and improving its liquidity for investors both in Canada and the US.

Contact Katie Lewis at katie@proactiveinvestors.com

]]>
Thu, 28 Feb 2019 18:43:00 -0500 https://ca.proactiveinvestors.com/companies/news/215569/harvest-one-cannabis-sees-second-successive-quarter-of-record-growth-215569.html
<![CDATA[News - Harvest One Cannabis inks validation testing agreement with BLOCKStrain Technology ]]> https://ca.proactiveinvestors.com/companies/news/214665/harvest-one-cannabis-inks-validation-testing-agreement-with-blockstrain-technology-214665.html Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) announced Thursday that it has inked a validation testing agreement with BLOCKStrain Technology (CVE:DNAX) to collect and register its cannabis plant DNA and strains.

Harvest One will incorporate BLOCKStrain's cannabis strain authenticity and tracking platform, known as the Master Genome Strain and Clone Registration Program, into its sales program. 

As a result, Harvest One said, it will be able to confirm its medical cannabis strains are labeled, providing consumers with increased transparency and confidence about its products. 

READ: Harvest One launches Satipharm reformulated CBD capsules in Europe

"BLOCKStrain's technology is intended to enable us to guarantee that our strain origins and content are exactly as labeled, providing medical consumers with a level of certainty they could not expect with similar, unverified products," CEO Grant Froese of Harvest One said in a statement. "This increased level of quality control is in keeping with our mission to build a global house of brands, providing lifestyle and wellness health products to consumers and patients in regulated markets."

Harvest One is a global cannabis company that develops and provides lifestyle and wellness products to consumers and patients in regulated markets around the world. 

According to the statement, 30 Harvest One products will initially carry BLOCKStrain's Seal of Authenticity, guaranteeing their origin and providing quality assurance, upon completion of the collection and registration of its strains. 

"This agreement with Harvest One is a testament to the growing traction of our proprietary genome-to-sale software, which we expect to increase as more companies recognize the inherent and significant value in protecting the genetics and IP of their various strains," BLOCKStrain CEO Robert Galarza said. "We believe our unique technology will enable Harvest One to guarantee its strains and provide consumers with unparalleled assuredness about the products they purchase. This is of particular importance for medical cannabis when patients with specific conditions are relying on products to be of consistent quality and provide consistent results."

BLOCKStrain's team collects plant data and performs genomic sequencing in batches that are registered in a blockchain-enabled database for intellectual property protection and strain validation.

Contact Katie Lewis at katie@proactiveinvestors.com

Follow her on Twitter: @kelewis

 

 

]]>
Thu, 14 Feb 2019 11:21:00 -0500 https://ca.proactiveinvestors.com/companies/news/214665/harvest-one-cannabis-inks-validation-testing-agreement-with-blockstrain-technology-214665.html
<![CDATA[News - Harvest One launches Satipharm reformulated CBD capsules in Europe ]]> https://ca.proactiveinvestors.com/companies/news/213624/harvest-one-launches-satipharm-reformulated-cbd-capsules-in-europe-213624.html Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) announced late Tuesday that its wholly-owned medical subsidiary Satipharm Limited has launched European sales of its recently reformulated CBD capsules.

The first product to market is the Satipharm 10 milligram CBD Gelpell capsule, now available at www.satipharm.com that is designed to improve the body’s absorption of cannabidiol (CBD). Bricks-and-mortar distribution of the 10 milligrams CBD Gelpell capsules will follow with the help of major retailers in the United Kingdom, the European Union, and Canada, said the company.

CBD is the non-intoxicating marijuana extract being credited with helping to treat a host of medical problems from epileptic seizures to anxiety and sleeplessness.

BIG PICTURE: Harvest One shakes up the global cannabis space with a full house of brands

Satipharm's Gelpell technology improves the body's absorption of CBD and other cannabinoids through a patented formulation of CBD hemp extract contained in seamless Gelpell gelatine biospheres. The company said the “Gelpell biospheres are placed in gastro-resistant capsules” ensuring the timely release of CBD in the small intestine, thereby ensuring patients receive a consistent dose of CBD in every Satipharm CBD Gelpell capsule.

"We are delighted with the launch of Satipharm's new website and eCommerce platform, making our clinically proven CBD Gelpell capsules available to consumers across Europe," said Satipharm president Jonathan Hartshorn. "With our focus on consumer education, GMP certified products, and superior bioavailability, we feel strongly that consumers will adopt Satipharm's CBD Gelpell capsules as the product of choice for CBD delivery in the marketplace."

Vancouver-based Havest One services medical and recreational cannabis markets in Canada and internationally.

"The launch of Satipharm's patented CBD Gelpell formulated capsules is an integral part of Harvest One's health and wellness strategy," said Harvest One CEO Grant Froese. "We are very pleased to bring this innovative delivery technology to market and we look forward to the launch of additional product lines as we advance our health and wellness strategy in regulated markets around the world."

Clinical Trials

Satipharm's proprietary CBD Gelpell capsules have been used in two separate clinical trials. The Phase 1 clinical trial conducted in 2016, demonstrated the safety and superior bioavailability of Satipharm's CBD Gelpell capsules in comparison to an oromucosal formulation or spray.

Similarly, the Phase 2 clinical trial in 2018, further demonstrated that Satipharm’s CBD capsules significantly reduced monthly seizures in treatment-resistant children when added to current medications. The open-label, single-centre clinical study to evaluate the safety, tolerability and efficacy of Satipharm CBD capsules as an adjunctive treatment reduced epileptic seizures in paediatric patients with “very severe, uncontrolled, treatment-resistant” epilepsy (TRE) by a remarkable 73.4% in the 12-week treatment period, showed the study. 

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

 

]]>
Wed, 30 Jan 2019 08:00:00 -0500 https://ca.proactiveinvestors.com/companies/news/213624/harvest-one-launches-satipharm-reformulated-cbd-capsules-in-europe-213624.html
<![CDATA[Media files - Harvest One now trading on the OTCQX in U.S. and plans for a big 2019 ]]> https://ca.proactiveinvestors.com/companies/stocktube/11762/harvest-one-now-trading-on-the-otcqx-in-us-and-plans-for-a-big-2019-11762.html Wed, 09 Jan 2019 12:37:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/11762/harvest-one-now-trading-on-the-otcqx-in-us-and-plans-for-a-big-2019-11762.html <![CDATA[News - Harvest One Cannabis begins trading on OTCQX, top over-the-counter tier in the US ]]> https://ca.proactiveinvestors.com/companies/news/212068/harvest-one-cannabis-begins-trading-on-otcqx-top-over-the-counter-tier-in-the-us-212068.html Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) began trading Monday on the OTCQX, the top tier of the over-the-counter marketplace in the US.

The Vancouver-based cannabis company said in a press release that the upgrade to OTCQX will provide improved exposure and access to the US markets as well as improving liquidity for investors in both Canada and the US. The other over-the-counter tiers are OTCQB and Pink.

READ: Harvest One Cannabis posts record revenue, enjoying boost from Dream Water subsidiary

"Harvest One is pleased to move to the OTCQX as 2019 will be a transformational year where we execute our strategy across a portfolio of brands in medical, consumer and retail," CEO Grant Froese said in a statement.

Jason Paltrowitz, director of OTC Markets Group International Ltd. and executive vice president of corporate services, said OTCQX provides international companies seeking to gain visibility in the US with “a trusted and transparent market.”

Harvest One was sponsored for the OTCQX by JP Galda & Co, a Berwyn, Pennsylvania law firm.

Shares of Harvest One climbed C$0.04 to C$0.46 in Friday’s Canadian trading. They advanced US$0.03 to US$0.35 on the OTC Markets.

In November, the company posted record quarterly revenue of C$1.68 million, driven by its Dream Water subsidiary’s sales.


Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

]]>
Mon, 07 Jan 2019 08:33:00 -0500 https://ca.proactiveinvestors.com/companies/news/212068/harvest-one-cannabis-begins-trading-on-otcqx-top-over-the-counter-tier-in-the-us-212068.html
<![CDATA[News - Harvest One Cannabis names Frank Holler chairman as Peter Wall remains on the board ]]> https://ca.proactiveinvestors.com/companies/news/211261/harvest-one-cannabis-names-frank-holler-chairman-as-peter-wall-remains-on-the-board-211261.html Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) said Friday that it has named Frank Holler, a biotechnology, investment banking and venture capital industry veteran, as its chairman

The Vancouver-based company said in the press release that former Chairman Peter Wall will remain on the board.

READ: Harvest One Cannabis posts record revenue, enjoying boost from Dream Water subsidiary

Holler is president and CEO of Vancouver-based Ponderosa Capital Inc and previously held CEO roles at Lions Capital Corp, Xenon Pharmaceuticals Inc and ID Biomedical Corp. He was a founding director of Angiotech Pharmaceuticals, a Toronto Stock Exchange- and Nasdaq-listed medical device company that was sold in 2017.

Before working in biotechnology and health care, Holler was an investment banker at Merrill Lynch Canada.

"Frank's experience, particularly in the pharmaceutical industry and capital markets, strengthens the depth of expertise on the Harvest One board,” Harvest One CEO Grant Froese said.

Shares of Harvest One climbed C$0.01 to C$0.42 in Friday’s Canadian trading. They fetched US$0.32 on the OTC Markets.

Last month, the company posted record quarterly revenue driven by its Dream Water product line, acquired in May.

 

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

]]>
Fri, 14 Dec 2018 11:04:00 -0500 https://ca.proactiveinvestors.com/companies/news/211261/harvest-one-cannabis-names-frank-holler-chairman-as-peter-wall-remains-on-the-board-211261.html
<![CDATA[News - Harvest One shakes up the global cannabis space with a full house of brands ]]> https://ca.proactiveinvestors.com/companies/news/211184/harvest-one-shakes-up-the-global-cannabis-space-with-a-full-house-of-brands-211184.html With Canada’s recent legalization of recreational cannabis in October, it’s safe to say it’s been a busy year for Harvest One Inc (CVE:HVT) (OTCMKTS:HRVOF) That said, Harvest has broader interests than that, with exposure to the entire cannabis value chain through its comprehensive house of brands.

“Our aim is to operate as a complete, vertically-integrated global group with cannabis cultivation, manufacturing, retail, marketing and distribution of both medical and recreational products, as well as consumer goods,” says CEO Grant Froese, who joined this summer after a 38-year career with Canadian retail giant Loblaw Companies Limited (TSE:L), last serving as chief operating officer.

Innovation is at play here and the cannabis industry is shifting -- rapidly. In order to survive, strong execution and strong operations are a must: this is in Froese’s wheelhouse.

READ: Harvest One Cannabis posts record revenue, enjoying boost from Dream Water subsidiary

Harvest One serves as an umbrella over three wholly-owned subsidiaries: United Greeneries, which is a licensed producer; Satipharm, which develops cannabis-based health products; and Dream Water, which offers consumer sleep aids.

Recently, the company also added another brand under its wing when it invested in newly launched cannabis retailer, Burb Cannabis Corp, which marked the initiation of Harvest One’s cannabis retail strategy and adding yet another vertical.

An expected eight stores in British Columbia will open by early 2019. Plans are also in the works to acquire rural and urban locations in Manitoba, Saskatchewan and Ontario.

Froese’s extensive retail expertise and network will be an asset here.

"Moving into brick and mortar is familiar territory for me and an extremely valuable opportunity for Harvest One," says Froese. “We’re committed to providing consumers with high-quality, end-to-end cannabis solutions and investing in Burb helps us achieve this goal.”

Valens deal valuable

There’s been a string of other exciting news for Harvest One of late, as well, with a deal with cannabis extraction firm Valens Groworks (CSE:VGW). Under the agreement, Harvest’s subsidiary, United Greeneries, will ship cannabis to Valens over a three-year term.

Valens will process the cannabis on a fee-for-service basis into bulk resin or other cannabis oil derivative products, as well as conduct research and development to support the expansion of Harvest One’s product lines, including beverages, vape pens, health and wellness products as well as nutraceuticals using cannabis oil derivative products.

The deal is a valuable one: giving Harvest One the ability to rapidly accelerate its product development strategy.

"We are excited to leverage Valens's industry-leading expertise to further expand our recreational and health and wellness products under United Greeneries, Satipharm and Dream Water,” said Froese in a November release. “Furthermore, this partnership gives Harvest One the ability to diversify our medical product offerings to better serve our patients."

United Greeneries a key arm

United Greeneries is a key piece of Harvest One, as its cultivation arm. It’s an ACMPR licensed producer with two main facilities: one in Duncan on Vancouver Island in BC and Lucky Lake in Saskatchewan.

The Duncan facility is currently 16,000 sq/ft with the aim to cultivate around 3,000 kg of cannabis annually. The site has seen significant expansion in recent months, adding new growing modules and will triple the company’s capacity -- further space to grow. 

Across to Saskatchewan, Lucky Lake is a 62,000 sq/ft concrete agricultural facility sitting on over 18 acres of land. The growth potential here is huge: when up and running, Lucky Lake should produce around 8,000-9,000 kg of cannabis per annum. Lucky Lake’s application is in the final stages of licensing, and down the road could have capacity as high as 12,000 kg yearly. 

Outdoor growing could also be on the table at Lucky Lake, as the Canadian government has indicated that it will allow outdoor growing site for recreational cannabis producers. Needless to say, Harvest One’s subsidiary, United Greeneries, is positioned well to pull off this low-cost growth strategy.

Dream Water Global a strategic acquisition

At the end of May, Harvest One acquired non-prescription sleep aid company Dream Water Global. Dream Water markets single-serving 2.5oz liquid shots containing sleep agents melatonin, GABA and 5-HTP.

“The aim is to develop Dream Water cannabis-infused products and expand distribution of the existing product line internationally,” says Froese.

Cash in the bank

On the funding side, Harvest One has cash in the bank, $48 million, meaning all expansions are funded and the company says it has significant funds for accretive transactions.

Last year, it closed a bought deal debenture offering of C$20 million and in January, the company raised another $40 million by way of a public financing round.

While the stock has struggled a bit in recent months, much of it due to legacy challenges that are now being corrected by Froese and his senior leadership team. If anything, the low share price represents a buying opportunity for investors looking to get into the space.

Team continues to grow

The team at Harvest One continues to be bolstered by the addition of a number of new faces, most notably, Froese. As a longtime executive at Loblaw Companies (TSE:L), he served as chief operating officer and retired from the company in April 2017. Past roles also included chief administrative officer,  executive vice president of hard discount and superstores, and executive vice president of merchandising, among other roles.

His experience at Loblaw will prove extremely beneficial at Harvest One, with his experience in leading operations and merchandising, alongside a host of other experience: oversight of IT, supply chain, digital businesses and marketing/branding.

Another hire to note is Will Stewart, senior vice president of corporate and public affairs, who came on in October. Stewart has a host of experience, as an influencer in cannabis and worked for years in political and corporate circles pushing for legalization and reducing stigma. Stewart came on board from his previous role as vice president of Hiku Brands Company Ltd (CSE:HIKU).

Strong future ahead

It’s full steam ahead with eyes on the next few years for Harvest One as it continues to build out its team and execute on its strategy. Cultivation, manufacturing, marketing and distribution of medical and recreational cannabis products, as well as consumer goods, shows just how many verticals are at play here: giving the company an edge over its peers.

Harvest One’s premise is simple: build great assets and products. The next few years look to be exciting for the company, with lots of runway to grow.

 

Contact Katie Lewis at katie@proactiveinvestors.com

Follow her on Twitter: @kelewis

]]>
Thu, 13 Dec 2018 14:27:00 -0500 https://ca.proactiveinvestors.com/companies/news/211184/harvest-one-shakes-up-the-global-cannabis-space-with-a-full-house-of-brands-211184.html
<![CDATA[News - MMJ says it plans to remain a major shareholder of Harvest One ]]> https://ca.proactiveinvestors.com/companies/news/210595/mmj-says-it-plans-to-remain-a-major-shareholder-of-harvest-one-210595.html The board of directors of cannabis investment company MMJ Group Holdings Inc said on Wednesday its current strategy is to remain a major shareholder of Harvest One Cannabis Inc (CSE:HVT) and support its management team in the execution of its business plan.

Harvest One recently appointed a new chief executive officer, Grant Froese, to the business, in addition to a new chief operating officer and general counsel, and members to the company's board of directors during the last fiscal quarter 2019. 

READ: Harvest One Cannabis posts record revenue, enjoying boost from Dream Water subsidiary

The new team is in the process of executing a revised strategic direction for Harvest One, which includes:

A 13,000 square foot expansion already underway of United Greeneries' primary operations in Duncan, British Columbia that will triple the output of the facility;

Continued construction of a 60,000 square foot indoor flowering facility at its Lucky Lake property in Saskatchewan;

Driving sales growth for Satipharm including the Gelpell(R) Microgel capsules in the EU and as Harvest One's primary brand for medical offerings throughout Canada;

Continued sales growth of the Dream Water product ranges (which incurred record revenue growth for the last fiscal quarter) and development of cannabinoid infused product lines for the North American market;

Furthering other commercial transactions, such as the multi-year Extraction Services Agreement with Valens GroWorks Corp. for cannabis extraction and value-added services and the investment in Burb, a new BC-based retailer of cannabis and cannabis-related products

Harvest One remains well capitalized with approximately C$48 million in cash at the end of the last quarter.

MMJ owns 55,557,994 shares in Harvest One for a 30.5% shareholding and this remains MMJ's most significant investment to date.

Shares of Harvest One were at C$0.38 on Wednesday.

]]>
Wed, 05 Dec 2018 08:16:00 -0500 https://ca.proactiveinvestors.com/companies/news/210595/mmj-says-it-plans-to-remain-a-major-shareholder-of-harvest-one-210595.html
<![CDATA[News - Harvest One Cannabis posts record revenue, enjoying boost from Dream Water subsidiary ]]> https://ca.proactiveinvestors.com/companies/news/210315/harvest-one-cannabis-posts-record-revenue-enjoying-boost-from-dream-water-subsidiary-210315.html Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) said it posted record quarterly revenue driven by its Dream Water subsidiary’s sales and bulk sales to other licensed producers.

For its fiscal first quarter ended September 30, the Vancouver-based company said Thursday that its revenue surged to C$1.68 million, almost 10 times the C$174,544 reported a year earlier. Another factor in the boost was an initial recreational-cannabis sale to the province of British Columbia.

READ: MMJ Group Holdings completes sale of unit to Harvest One Cannabis for C$8 million

Highlights included agreements to supply adult-use cannabis to four provinces: Ontario, Manitoba and Saskatchewan, as well as British Columbia.

“I am proud to say Harvest One has executed on our roll-out strategy, meeting all provincial obligations and establishing the basis for successful long-term relationships with both public and private retailers,” said Grant Froese, who assumed the role of CEO in July. “The work we are doing now lays the foundation for a landmark year in 2019, when cannabis companies will be judged on execution and financial performance.”

The company also acquired a 19.99% interest in a British Columbia-based luxury retail group known as Burb Cannabis Corp. Burb expects to open eight to 10 stores in BC in 2019. The investment falls within the allowable maximum investment of 20% established by the British Columbia government, according to Harvest One.

Harvest One added that it maintained a strong balance sheet with a cash balance of C$48.3 million. Its comprehensive loss widened to C$5.8 million, or C$0.03 per share, from C$1.9 million, or C$0.02 per share.

The company cited favorable results in Phase 2 clinical trials of its Satipharm capsules for the treatment of pediatric epilepsy. The median seizure reduction was 82% in the 12-week treatment period. These results were recently presented at the Epilepsy Society of Australia Conference.

Harvest One recently closed its acquisition of Phytotech Therapeutics, adding research capabilities to support product development for Satipharm.

Shares of Harvest One slipped C$0.01 to C$0.42 in Thursday's Canadian trading. They were down US$0.01 to US$0.31 on the OTC market.


Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

]]>
Fri, 30 Nov 2018 08:32:00 -0500 https://ca.proactiveinvestors.com/companies/news/210315/harvest-one-cannabis-posts-record-revenue-enjoying-boost-from-dream-water-subsidiary-210315.html
<![CDATA[Media files - Harvest One Cannabis Inc says Dream Water Global helped 1Q revenue jump tenfold in fiscal 1Q ]]> https://ca.proactiveinvestors.com/companies/stocktube/11382/harvest-one-cannabis-inc-says-dream-water-global-helped-1q-revenue-jump-tenfold-in-fiscal-1q-11382.html Thu, 29 Nov 2018 17:10:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/11382/harvest-one-cannabis-inc-says-dream-water-global-helped-1q-revenue-jump-tenfold-in-fiscal-1q-11382.html <![CDATA[Media files - Harvest One Cannabis and Valens GroWorks sign multi year extraction and product R &D deal ]]> https://ca.proactiveinvestors.com/companies/stocktube/11318/harvest-one-cannabis-and-valens-groworks-sign-multi-year-extraction-and-product-r-d-deal-11318.html Mon, 26 Nov 2018 13:14:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/11318/harvest-one-cannabis-and-valens-groworks-sign-multi-year-extraction-and-product-r-d-deal-11318.html <![CDATA[News - Harvest One Cannabis investor MMJ to sell shares ]]> https://ca.proactiveinvestors.com/companies/news/208340/harvest-one-cannabis-investor-mmj-to-sell-shares-208340.html Harvest One Cannabis Inc (CVE:HVT) said that shareholder MMJ Group Holdings Ltd, as part of its active portfolio management, will sell up to 5 million of its around 48.3 million shares in the company.

MMJ currently holds around 28% of the group.

"On completion of the share sale, the proceeds are expected to be mostly applied by MMJ to other investment opportunities," said MMJ chief executive Jason Conroy.

MMJ PhytoTech is a global cannabis investment company. MMJ owns a portfolio of minority investments and aims to invest across the full range of emerging cannabis-related sectors, including healthcare, technology, infrastructure, logistics, processing, cultivation, equipment and retail.

]]>
Thu, 01 Nov 2018 10:25:00 -0400 https://ca.proactiveinvestors.com/companies/news/208340/harvest-one-cannabis-investor-mmj-to-sell-shares-208340.html
<![CDATA[News - Harvest One Cannabis strengthens senior leadership with cannabis industry expert ]]> https://ca.proactiveinvestors.com/companies/news/207692/harvest-one-cannabis-strengthens-senior-leadership-with-cannabis-industry-expert-207692.html Harvest One Cannabis Inc (CVE:HVT) told investors it had hired cannabis industry expert Will Stewart as its senior vice-president of corporate and public affairs.

Stewart is a well-known Canadian cannabis executive, insider and former Harvest One board member. He is a leading influencer in cannabis and worked for years in political and corporate circles pushing for legalization and reducing stigma. He was named a Top 100 Lobbyist in Canada for seven consecutive years and received the Queen's Diamond Jubilee Medal for contributions to Canadian public policy.

WATCH: United Greeneries delivers first product on day 1 of cannabis legalization in Canada

"As a former director, Will's already very familiar with the Company and industry opportunities," said Grant Froese, CEO at Harvest One.

"His reputation and experience in the cannabis industry are unquestionable as evidenced by designations including 'Top 30 Cannabis Influencer' and his nomination for 'Cannabis Influencer of the Year'.

"He's indeed a strong addition to Harvest One where we put people and leadership at the heart of our strategy."

Stewart added: "There are only great times ahead for Harvest One with its exceptional grow facilities under United Greeneries, our Satipharm product in the European Union, our consumer cannabis brand Royal High, and the exceptional Dream Water natural sleep product which is available in 30,000 international retail locations and growing."

The firm also noted that Marien Segovia was also joining Harvest One as its corporate secretary.

She has almost 20 years' experience in the administration of public companies and has worked in senior roles at EMX Royalty Corporation, Great Panther Silver Limited, Wiklow Corporate Services and Silvermex Resources Inc, the firm noted.

 

 

 

 

 

 

 

 

]]>
Tue, 23 Oct 2018 11:04:00 -0400 https://ca.proactiveinvestors.com/companies/news/207692/harvest-one-cannabis-strengthens-senior-leadership-with-cannabis-industry-expert-207692.html
<![CDATA[Media files - United Greeneries delivers first product on day 1 of cannabis legalization in Canada ]]> https://ca.proactiveinvestors.com/companies/stocktube/10876/united-greeneries-delivers-first-product-on-day-1-of-cannabis-legalization-in-canada-10876.html Tue, 16 Oct 2018 22:31:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/10876/united-greeneries-delivers-first-product-on-day-1-of-cannabis-legalization-in-canada-10876.html