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Harvest One Acquires Majority Interest in Greenbelt Greenhouse
Harvest One Acquires Majority Interest in Greenbelt Greenhouse Canada NewsWire T...
About this update from Delivra Health Brands Inc
[{"type":"text","content":"\n\n\n\nHarvest One Acquires Majority Interest in Greenbelt Greenhouse\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, April 1, 2019\n\n\n\nGreenhouse Grow Facility Will Provide Extract Capabilities for Branded Products\n TORONTO, April 1, 2019 /CNW/ - Harvest One Cannabis Inc. (TSXV: HVT, OTCQX: HRVOF – \"Harvest One\") is pleased to announce today that it has acquired an initial 52% interest in Greenbelt Greenhouse Ltd. (\"Greenbelt\"), an Ontario private company located in Hamilton, Ontario (herein, the \"Transaction\"). \n\n \n \n\n \nThis strategic acquisition will supply Harvest One with high quality greenhouse grown cannabis from Greenbelt's 152,000 sq. ft. facility which will primarily be dedicated to Harvest One's expanding cannabis-infused health, wellness, and self-care products under the Dream Water and Satipharm brands, and expanding products resulting from the recently announced acquisition of Delivra, following the closing of that transaction.  The Transaction ensures that Harvest One remains a vertically integrated house of brands by controlling the production of cannabis through cultivation and extraction, and ultimately to packaged good for consumers.\nIn addition to the greenhouse, the Greenbelt facility also has a 42,000 sq. ft. headhouse which is an ideal location for future extraction and processing capabilities. Greenbelt has an application pending with Health Canada for a standard cultivation license and a standard processor license under the Cannabis Regulations.  \nStrategic Rationale\nHarvest One will now control significant production to supply new infused formulations of existing brands already controlled by the company. Harvest One secures a location to build out extraction capabilities for its infused products. The Transaction ensures good value for shareholders and provides economical access to a potential 15,000 kgs. or more of flower per year, once licensed. Offtake agreement ensures access to additional supply without further significant capital investmen...