TORONTO, Aug. 13, 2018 (GLOBE NEWSWIRE) — Lineage Grow Company Ltd. (the “Company ” or “Lineage “) (CSE:BUDD) and FLRish Inc., a California corporation d/b/a Harborside (“Harborside ”), are pleased to announce they have entered into a binding letter agreement (the “Agreement ”) pursuant to which Harborside will effect a reverse takeover transaction that will result in, among other things, Lineage acquiring all of the issued and outstanding securities of Harborside on a debt free basis in exchange for newly issued common shares of Lineage (“Lineage Shares ”) valued at approximately $200 million (the “Transaction ”). Harborside, among other things, operates two flagship dispensaries in the Bay Area, a cultivation facility in Salinas, California, and owns the Harborside brand. The Transaction will provide access to capital required to facilitate Harborside’s expansion plans in California and the contiguous western states. All references to dollar amounts in this press release are to Canadian dollars.
Read the full press release: http://globenewswire.com/news-release/2018/08/13/1550822/0/en/Lineage-to-Acquire-Harborside-s-Iconic-California-Dispensaries-and-Cultivation-Campus-Creating-California-s-Premier-Vertically-Integrated-Cannabis-Company.html
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