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 first California cannabis dispensary in Napa, which is the city’s first medical cannabis location to open its doors to patients. Pending finalization of an acquisition of Falcon International Corp.—the state’s leading operator in logistics serving more than 80 percent of dispensaries—Harvest will hold California licenses California for state-wide distribution, cultivation and manufacturing. Harvest has an existing additional retail license for one of two dispensary locations in Santa Monica. Nationwide, pending finalization of a recent acquisition of Verano Holdings, the largest acquisition in the cannabis industry to date, Harvest will hold licenses for the right to operate more than 200 retail and processing facilities in 16 states and territories across the U.S.
“California is the epicenter of the cannabis universe and we are honored to be a part of the culture, economy and plant-focused revolution throughout the state, especially in the heart of wine country,” said Harvest founder and CEO Steve White. “Harvest has been a patient-focused company since it began in 2012 and currently operates in eight additional medical states. We are excited to bring our safe, premium line of products and dispensary experiences to Napa and throughout the Golden State.”
Harvest of Napa—the first medical cannabis dispensary in Napa to open its doors to patients—is located at 2449 N 2nd St., Napa. As a city that allows only medical sales of cannabis, the store will serve patients and caregivers with valid California medical marijuana cards. Patients can obtain a medical card through www.harvest.nuggmd.com online or in-store. The cost of the card will be deducted from the patient’s first purchase. Harvest’s new retail location will initially offer a wide range of products and expects to add more in the coming weeks. Harvest’s trained staff will also be on site to answer questions about personalized medical cannabis treatments and products to help manage patients’ qualifying conditions.
During Saturday’s grand opening, patients can enjoy discounts, live music and free food. Harvest of Napa is open between 10 a.m. to 6:00 p.m., seven days a week.
California is the largest cannabis market in the world and the first to legalize medical cannabis. The state is estimated to have registered more than 1.2 million medical marijuana patients, nearly 10x the number of registered patients in the second-largest market, Florida.
About Harvest Health and Recreation
Harvest Health & Recreation Inc. is one of the first consistently profitable, vertically integrated cannabis companies with one of the largest footprints in the U.S. Harvest’s complete vertical solution includes industry-leading cultivation, manufacturing, and retail facilities, construction, real estate, technology, operational, and brand building expertise — leveraging in-house legal, HR and marketing teams, along with proven experts in writing and winning state-based applications. The company has more than 680 employees with proven experience, expertise and knowledge of in-house best practices that are drawn upon whenever Harvest enters new markets. Harvest’s executive team is comprised of leaders in finance, compliance, real estate and operations. Since its founding in 2011, Harvest has grown its footprint every year, has been ranked as the third largest cultivator in the U.S. and currently owns licenses for more than 140 facilities across the U.S. Harvest shares timely updates and releases as part of its regular course of business with the media and the interested public. For more information, visit: https://www.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 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.
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