Harvest Health & Recreation Continues Growth into Florida, Opens Three Additional Stores, a Total of Five in State


Ryan Allway

June 6th, 2019

News


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., announced the opening of its third, fourth and fifth Florida medical marijuana dispensaries. Harvest holds licenses in Florida for up to 35 medical dispensaries, one cultivation facility, one manufacturing facility, and has operational dispensaries in the Orlando and Tallahassee markets. Nationwide, pending finalization of recent acquisitions, Harvest will have rights to operate more than 210 facilities in 17 states and territories across the country.

“Florida is the third largest state in the country in terms of population and a crucial state for Harvest as we look to extend our depth across the East Coast, as we have done in the West”

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The latest Florida openings are Harvest of Jacksonville, located at 10095 Beach Blvd., Suite 450; Harvest of North Port, located at 7050 Sumter Crossing Dr.; and Harvest of Longwood, located at 182 W State Road 434, #1016. Harvest’s new retail locations are open Monday through Sunday from 9 a.m. ET to 6 p.m. ET and will initially offer a wide range of products, including flower strains, vape pens, and capsules formulated with CBN and Delta 8, and expect to add more in the coming weeks. Harvest’s highly trained staff will also be onsite to answer questions about personalized medical cannabis treatments and products to help manage patients’ qualifying conditions.

“Florida is the third largest state in the country in terms of population and a crucial state for Harvest as we look to extend our depth across the East Coast, as we have done in the West,” said Executive Chairman, Jason Vedadi. “The explosive growth in Florida’s medical marijuana program over such a short time is incredibly exciting to us, and we’re committed to giving patients and caregivers access to the highest quality products and experience in the cannabis industry. We look forward to opening many more of our award-winning dispensaries across Florida.”

The three stores join two existing Harvest House of Cannabis dispensaries already open in Kissimmee and Tallahassee. Florida is one of the most highly sought-after markets for cannabis operators. The state currently has registered more than 209,000 medical marijuana patients as of December 2018 and more than 2,000 doctors, a 60 percent increase over the last six months. Most recently, Senate Bill 182, which amended Florida’s medical marijuana program, was signed into law on March 18th, 2019, allowing smokable forms of cannabis. A Florida state senator recently put forth a resolution in Tallahassee to legalize recreational cannabis use for all residents. The measure, if approved, would go to voters in 2020 without the need for the petition effort.

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 the largest footprint in the U.S., with rights to more than 210 facilities, of which approximately 140 are retail locations, and more than 1,580 employees across 17 states. Since 2011, the company has been committed to aggressively 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.

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Forward-looking Statements

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 ability of the Company to successfully achieve its business objectives, (iii) plans for expansion of Harvest, and (iv) expectations for other economic, business, and/or competitive factors.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflects Harvest management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Harvest believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the potential impact of an announcement of a going public transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; and in particular in the ability of the Company to raise debt and equity capital in the amounts and at the costs that it expects; adverse changes in the public perception of cannabis; decreases in the prevailing prices for cannabis and cannabis products in the markets that the Company operates in; adverse changes in applicable laws; or adverse changes in the application or enforcement of current laws, including those related to taxation; the inability to locate and acquire suitable companies, properties and assets necessary to execute on the Company’s business plans; and increasing costs of compliance with extensive government regulation. This forward-looking information may be affected by risks and uncertainties in the business of Harvest and market conditions.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Harvest has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Harvest does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Contacts

Alex Howe, Head of Corporate Communications
(202) 271-7997
[email protected]inc.com

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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