PHOENIX–(BUSINESS WIRE)–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 the acquisition of Grover Beach dispensary 805 Beach Breaks, serving the San Luis Obispo, Santa Barbara, Ventura and Monterey County markets. The dispensary marks the tenth location in California for which Harvest has rights.
“California is the largest cannabis market in the world, and with the acquisition of 805 Beach Breaks, we’re thrilled to be expanding our presence and industry-leading operational and vertical integration standards across the state,” said Harvest’s Executive Chairman Jason Vedadi. “This location and other planned locations will continue to bring our expertise and top-notch cannabis offerings to further develop premiere retail environments across the state, where consumers and patients have access to high-quality trusted cannabis experiences.”
805 Beach Breaks is located at 1053 Highland Way and will be open Monday through Sunday from 9:00am to 7:00pm, with delivery offered Wednesday through Sunday from 10:00am to 6:00pm. In addition to the recent opening of Harvest’s Napa location and 805 Beach Breaks, Harvest has secured the right to retail licenses for eight other locations, including in Santa Monica, Palm Springs and Pasadena, where the company was among the top-scoring applications from a pool of 128 applications. Harvest plans to open a new location in Venice pending regulatory approval and continues to finalize the previously announced acquisition of Falcon International Corp.—the state’s leading operator in logistics serving more than 80 percent of dispensaries in the state.
Harvest has determined that the amount of cash and stock to be issued in connection with its acquisition of 805 Beach Breaks is not material.
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 more than 210 facilities, of which approximately 135 are retail locations, and more than 1,695 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://harvestinc.com.
This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Harvest with respect to future business activities. Forward-looking information is often identified by the words “may,” “would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect” or similar expressions and include information regarding: (i) expectations regarding the size of the U.S. cannabis market, (ii) the…