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Harvest One Cannabis Inc

Harvest One Cannabis wins Health Canada cannabis oils sales license via subsidiary

The oil sales license comes by way of its subsidiary United Greeneries Ltd and lets the company begin initial sales to retailers

Dried cannabis and cannabis oils
"Securing our cannabis oil licence from Health Canada is another key step in the evolution of Harvest One as we get ready for the next stage of legalization," CEO Grant Froese said

Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) has received an amendment to its cannabis license from Health Canada that will allow it to sell cannabis oil products, the company announced Tuesday. 

The oil sales license comes via its subsidiary United Greeneries Ltd and lets the company begin initial sales to retailers in British Columbia, Ontario, Saskatchewan and Manitoba.

The company said it has been developing products with third-party partners in anticipation of cannabis oils and edible products becoming legal in Canada later this year.

READ: Harvest One appoints Andy Bayfield as chief commercial officer

"Securing our cannabis oil licence from Health Canada is another key step in the evolution of Harvest One as we get ready for the next stage of legalization," CEO Grant Froese said in a statement. "We are looking forward to launching infused products across all of our brands including Royal High, Satipharm, Dream Water and LivRelief."

The company plans to release CBD- and THC-infused versions of its Dream Water and LivRelief, which promote sleep and relieve pain, respectively. Since those brands have already been established sans cannabis, Harvest One said it expects them to be an effective entrant into the cannabis product market.

Harvest One stock gained 3% Tuesday to reach C$0.51 on the CSE and 5.5% to US$0.40 on OTC Markets.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: Harvest One Cannabis Inc

Price: $0.47

Market: TSX-V
Market Cap: $98.75 m
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