logo-loader
viewHarvest One Cannabis Inc.

Harvest One Cannabis applauds cannabis firm Burb on receiving first two Port Coquitlam retail cannabis licences

Harvest One has invested C$1.75 million for an approximate 20% stake in Burb, as well as the option to acquire a future majority stake

Cannabis plant
Burb expects sales of cannabis products through its flagship store at 1502 Broadway Street as soon as September 21

Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) is making inroads into the retail space as it revealed Burb, in which it owns a 20% stake, has been awarded its first two retail cannabis licences in Port Coquitlam, British Columbia.

Burb has been operating stores as premium apparel and cannabis culture stores since April 20 this year  and it expects sales of cannabis products through its flagship store at 1502 Broadway Street in Port Coquitlam potentially as soon as September 21 this year.

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

Harvest One noted that  Burb's 'unique approach' had already earned it a spot in Forbes Magazine's "8 Cannabis Brands to Watch" piece and Style Democracy's "5 of the Coolest Cannabis Lifestyle Brands in Canada".

"We could not be happier to congratulate Burb for their significant achievement in earning their cannabis retail licences," said Grant Froese, CEO at Harvest One.

"For Harvest One these licences represent an essential milestone in our initial investment into the retail space and ensures our shareholders gain exposure across the entire value chain of cannabis."

For the enthusiast

John Kaye, co-founder and CEO of Burb, added: "We've built Burb with the cannabis enthusiast in mind. We look forward to servicing the Tri-Cities region as the only licensed cannabis provider and continuing to build our brands with a relentless pursuit for quality on behalf of our customers."

A grand opening date for the Broadway Street store will be announced shortly by Burb as they await final delivery of product, including premium British Columbia indoor grown flower from Harvest One under the Royal High brand, said Harvest One.

"We expect these two licences are the first of many, as Burb intends to expand throughout British Columbia, Canada, and into the United States," it added.

In October last year, Harvest One announced it had invested C$1.75 million for an approximate 20% stake in Burb, as well as the option to acquire a future majority stake in Burb.

Contact the author at [email protected]

Quick facts: Harvest One Cannabis Inc.

Price: 0.09 CAD

TSX-V:HVT
Market: TSX-V
Market Cap: $19.36 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Harvest One Cannabis Inc. named herein, including the promotion by the Company of Harvest One Cannabis Inc. in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Harvest One Cannabis receives Health Canada cultivation...

Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) Senior Vice President of Corporate & Public Affairs Will Stewart tells Proactive the cannabis company has earned a cannabis cultivation license from Health Canada for phase one of its Mission Road facility in Duncan, British...

on 15/10/19

2 min read