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Harvest One Enters into Definitive Agreement to Acquire Dream Water
Harvest One Enters into Definitive Agreement to Acquire Dream Water Canada NewsWir...
About this update from Delivra Health Brands Inc
[{"type":"text","content":"\n\n\n\nHarvest One Enters into Definitive Agreement to Acquire Dream Water\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 3, 2018\n\n\n\nTSXV – HVT      \n\n\n\nVANCOUVER, May 3, 2018 /CNW/ - Harvest One Cannabis Inc. (TSXV:HVT) (\"Harvest One\" or the \"Company\") is pleased to announce it has today entered into definitive agreements to complete the acquisition of all the outstanding shares of Dream Water Products Canada Inc. (\"Dream Water Canada\") and Sarpes Beverages, LLC (dba Dream Products, LLC) (\"Dream Water USA\") in exchange for a combination of US$12.5 million in cash and C$18.5 million in shares at a deemed price of C$1.00 per share, representing total consideration of approximately C$34.5 million (the \"Transaction\"). After closing, Harvest One will continue to hold a substantial cash position of approximately C$62 million and zero debt. As part of this Transaction, the combination of Dream Water Canada and Dream Water USA will become Dream Water Global (\"Dream Water\") and own the worldwide rights and all intellectual property to and for Dream Water. \n\n\n \n \n\n \nStrategic Rationale\n\nThe Transaction will deliver a ready-made consumer goods marketing, distribution and product development division to Harvest One.  \n\nDream Water is the #1 selling natural, 2.5oz, 0-calorie, liquid sleep shot. Along with its sleep powder, Dream Water helps promote relaxation and support restful sleep.  Dream Water is sold online and in over 30,000 North American retail outlets, while currently generating approximately $6 million per annum in revenue from its current product lines. Harvest One sees significant potential to grow the Dream Water brand and proposition by:\n\n\nScaling its current e-commerce and direct to consumer efforts;\nBringing to market Dream Water's robust product innovation pipeline; and\nExpanding the Dream Water brand into the cannabis space; most notably, to produce additional cannabidiol (\"CBD\") and/or Full-Spectrum Hemp based product lines where said products ...