Harvest of Utah Selected for Utah Medical Cannabis Cultivation License as Top-Ranked Applicant


Ryan Allway

July 22nd, 2019

News


July 22, 2019 – PHOENIX, Ariz. –Utah’s Department of Agriculture and Food issued Harvest of Utah a notice of intent to award a medical cultivation license. Harvest of Utah received the highest score among all applicants. Harvest Health & Recreation, Inc. (CSE: HARVOTCQX: HRVSF) (“Harvest”), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., will serve as the operator.

The extensive selection process rewarded only eight of 81 applicants supporting Utah’s newly approved medical cannabis program. Harvest of Utah received top recognition achieving outstanding scores within the strict criteria guidelines by showing proof of financial viability, expertise in cannabis operations and demonstrating its commitment to the local community.

“Utah’s rigorous evaluation standards highlight the state’s dedication to their community and we share in their vision to improve patients’ lives through cannabis. We are grateful to be a part of this milestone and be granted the opportunity to build exceptional operations that provide the most trusted and safe products,” said Harvest CEO Steve White. “The intent to award in Utah is a testament to our experience, knowledge and passionate staff. We are looking forward to playing a pivotal role in this next stage of providing greater access for the thousands of patients in Utah.”

Pending license approval, the entry into the Utah market will expand Harvest’s operations to 18 states and territories. Harvest’s dedication to building, acquiring and expanding brands and distribution provides greater cannabis accessibility for consumers seeking high-quality and trusted experiences.

Harvest Health & Recreation, Inc. Welcomes Michael L. Aguirre as Assistant General Counsel

Michael Aguirre brings M&A and financial expertise to growing legal team as company continues its national footprint expansion strategy

July 22, 2019 – PHOENIX, Ariz. – Harvest Health & Recreation, Inc. (CSE: HARVOTCQX: HRVSF) (“Harvest”), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., announced today that Michael L. Aguirre will join the company as assistant general counsel, effective immediately. He will work closely with the leadership team to advise on corporate finance transactions and commercial contracts, as well as attend to general corporate governance matters, and will report directly to Harvest’s General Counsel, Nicole Stanton. Aguirre’s broad experience in corporate finance transactions, corporate law and governance, and private equity will provide Harvest with additional resources dedicated to meeting its needs as it continues its planned expansion.

“We are excited to have Michael Aguirre join the Harvest team and bring his experience in corporate and financial matters,” said General Counsel, Nicole Stanton. “With Michael on the team, we will continue to expand our dedicated resources as we seek to implement our expansion plans and presence in the U.S. to achieve our goal to provide more consumers with access to our cannabis products.”

Aguirre has spent the past 14 years as an attorney at the international law firm Greenberg Traurig, where he represented public and private companies in a wide range of industries, various financial institutions and private lenders, and private equity firms and portfolio companies. He also provided general business representation, such as entity formation, corporate governance counsel and negotiation of a variety of commercial agreements. Aguirre is a member of the Los Abogados Hispanic Bar Association and the Selection Committee for the César E. Chávez Leadership Institute at Arizona State University, his alma mater.

“Harvest’s dedication to providing greater cannabis accessibility for consumers and improving people’s lives through the goodness of cannabis is what attracted me to the company,” said Aguirre. “I am looking forward to being a part of the company’s plans for growth as it continues to make investments in its growth strategy.”

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 135 are retail locations, and more than 1,695 employees across 18 states and territories. 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.

Facebook: @HarvestHOC
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Twitter: @HarvestHOC

Forward-Looking Information

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.

Media Contact:

Alex Howe, Head of Corporate Communications

[email protected]

Investor Contact:

Christine Hersey, Director of Investor Relations

[email protected]

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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