Investorideas.com
Search  Follow Investorideas on Twitter  Investorideas is on Facebook  Investorideas is on Google Plus  Investorideas is on Youtube  Investorideas is on Pinterest  Investorideas is on tumblr  Investorideas is on LinkedIn  Investorideas RSS 


Investorideas podcasts on iTunes, Google Play Music and iHeart.com    Bitcoin and Blockchain Stocks


#Cannabis stock news - Harvest One Cannabis Inc. (TSX VENTURE: $HVST.V) Acquires Duncan Facility Property

 

TORONTO, ONTARIO - May 30, 2017 (Investorideas.com Newswire) Harvest One Cannabis Inc. (TSX VENTURE:HVST) ("Harvest One" or the "Company"), through its wholly owned subsidiary United Greeneries Holdings Ltd. ("United Greeneries"), announces that it has closed an arm's length acquisition of its current production facility in Duncan, British Columbia ("Duncan Facility") for a cash purchase price of $2,800,000.

The Duncan Facility is United Greeneries' prime production facility located on 13 acres of land on Vancouver Island. The 16,000 square-foot Health Canada licensed producer facility and quality control laboratory has a current production capacity of approximately 1,000kg per year with fully funded expansion plans ("Phase 1 Expansion") to increase capacity to approximately 8,500kg per annum.

The purchase is the first step in executing the Phase 1 Expansion at the Duncan Facility, which is intended to bring the total grow area at the site from approximately 10,000 square feet to approximately 130,000 square feet, subject to customary regulatory approvals. The Company reports that the development plans for Phase 1 Expansion are underway according to schedule and expects completion by Q4 2017.

About Harvest One

Harvest One Cannabis Inc. (TSX VENTURE:HVST) controls operations across the entire cannabis value chain through three 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 favourable jurisdictions with supportive regulatory frameworks in place. United Greeneries has received a Canadian medicinal cannabis cultivation license, making Harvest One one of only a few companies globally with the capacity to commercially cultivate cannabis in a federally regulated environment.

Certain statements contained in this press release constitute forward-looking information. 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 the expansion of the Duncan Facility. Such expansion is subject to applicable regulatory approvals, and there can be no assurance that such approvals will be received in the timeframe contemplated in this press release or at all. The business of the Company is subject to a number of material risks and uncertainties. Please refer to the Company's SEDAR filings for further details. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. 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.

Contact Information

Harvest One Cannabis Inc.
Colin Clancy
Communications Manager
+1 (778) 855-2408
cclancy@mmj.ca


Marijuana / Hemp Stocks

Like Marijuana Stocks? View our Marijuana / Hemp Stocks Directory

Join our Group on Linkedin - Marijuana / Hemp Stocks - News and Trends in Green Investing

Global Cannabis Investing - features Investor Ideas Cannabis news

Get News Alerts on Marijuana Stocks



Watch the 420 Cannabis Investor video

https://www.youtube.com/watch?v=e2zFezO580Y&t=54s


More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.


Questrade Democratic Pricing - 1 cent per share, $4.95 min / $9.95 max



Join Investor Ideas Members to access the Renewable Energy stocks directory, water stocks, biotech stocks, defense stocks directories and the Insiders Corner