Business
Harvest One Concludes Its Strategic Review Process and Provides Overview on Strategic Growth Initiatives for 2021
Vancouver, British Columbia--(Newsfile Corp. - March 29, 2021) - Harvest One Cannabis Inc. ( T...
About this update from Delivra Health Brands Inc
[{"type":"text","content":"Harvest One Concludes Its Strategic Review Process and Provides Overview on Strategic Growth Initiatives for 2021Vancouver, British Columbia--(Newsfile Corp. - March 29, 2021) - Harvest One Cannabis Inc. (TSXV: HVT) (OTCQB: HRVOF) (\"Harvest One\" or the \"Company\"), a uniquely positioned cannabis-infused CPG leader, confirmed today that it has completed its previously announced strategic review process (the \"Strategic Review\"). The Company also provided an updated Corporate Overview on its strategic growth initiatives to advance the Company's business in 2021.Gord Davey, President and Chief Executive Officer of Harvest One, said, \"Following the recent sale of Satipharm and the closing of an upsized bought-deal financing, the Company has formally concluded the previously-announced Strategic Review process. The past 12 months have been transformative for Harvest One, as we have substantially reshaped the Company and its financial position, and are now in a strong position to execute on our CPG strategic plan.\"Mr. Davey continued, \"Management is now acutely focused on an expanded channel strategy within different markets and regions, as well as a robust product development and commercial roll-out plan. We will continue to build on our improved financial position and pursue additional improvements to our cost structure in order to achieve the right balance of top line growth and profitability. Our recent dispositions of non-core assets and bought-deal financing give Harvest One the financial resources to execute on its unique hybrid business model, whereby it is commercializing both infused and non-infused CPG products through our established Dream Water and LivRelief consumer brands.\"Key achievements from the Strategic Review include: Asset light and streamlined business model - repositioned the Company from cultivation and processing to a lean, non-capital-intensive cannabis-infused and non-infused CPG operation focusing on innovation, sales, marketing and distribution channels. Management is keenly focused on its core competencies, as well as market trends and consumer needs, while utilizing strategic manufacturing partners to advance the Company's CPG business model. Improved financial position and liquidity - completed the strategic divestiture of five non-core assets, materially improving the Company's balance she...