Harvest One Closes $40,250,000 Public Financing of Units, Including Exercise of Over-Allotment Option in Full
January 31, 2018
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Harvest One Cannabis Inc. (TSXV:HVST) ("Harvest One" or the "Company") is pleased to announce that it has closed its previously announced "bought deal" offering of $40,250,000 of units (“Units”) of the Company, at a price of $1.82 per Unit (the “Offering”), which included the exercise of the over-allotment option granted to the Underwriters (defined below) in full. Each Unit consisted of one common share ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share (a "Warrant Share") at an exercise price of $2.30 per Warrant Share at any time up to January 31, 2020.
The Units were sold on a "bought deal" basis through a syndicate of underwriters led by Mackie Research Capital Corporation and including Haywood Securities Inc. and Eight Capital (collectively, the "Underwriters"). The Company intends to use the net proceeds of the Offering to expand the Company's facilities as well as for working capital and general corporate purposes.
In connection with the listing of the Warrants, it is expected that Harvest One will be changing its trading symbol, which will be announced later today. The trading symbol under which the Warrants issued under the Offering will trade will also be announced at such time.
The Units issued under the Offering were offered by way of a short form prospectus filed with the securities regulatory authorities in each of the provinces of Canada except Québec. Copies of the final short form prospectus and documents incorporated therein are available electronically under the Company's issuer profile on SEDAR at www.sedar.com.
About Harvest One
Harvest One controls operations across the entire cannabis value chain through two business units, with Harvest One serving as the umbrella company over horticultural arm United Greeneries and medical arm Satipharm AG. Each business is strategically located in favorable jurisdictions with supportive regulatory frameworks in place. United Greeneries has received a Canadian medicinal cannabis cultivation and sales license, making Harvest One one of only a few companies globally with the capacity to commercially cultivate and sell cannabis in a federally regulated environment.
For more information on Harvest One, please contact:
+ 1 (877) 915 7934
Certain statements contained in this press release may be deemed "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the use of the net proceeds from the Offering, the listing symbol of the Warrants, the timing of the change of the listing symbols of the Company and any other information herein that is not a historical fact. The forward-looking information contained in this press release is made as of the date hereof and the Company and is subject to change after such date. The Company disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, further events or otherwise, other than as required by law. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.