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Harborside Inc. C.BUDD


Primary Symbol: HBORF

Harborside Inc is a United States based cannabis retailer. The company manages and operates four retail dispensaries in California, one retail dispensary in Oregon, a cultivation/production facility in Salinas, California and also assists state-licensed operators engaged in the cultivation, manufacture, and distribution of cannabis throughout the United States.


OTCQX:HBORF - Post by User

Post by hockeytownon Oct 01, 2018 10:15pm
134 Views
Post# 28726419

news

news

 

Lineage Grow closes acquisition of Oregon dispensaries

 

2018-10-01 16:05 ET - News Release

 

Mr. Peter Bilodeau reports

LINEAGE ANNOUNCES CLOSING OF THE TERPENE STATION ACQUISITION

Lineage Grow Company Ltd. has closed the previously announced acquisition of the assets of Rosebuds Bakery LLC, doing business as Terpene Station, and Brooklyn Holding Co., doing business as Terpene Station Portland. 

Terpene Station is a leading cannabis retailer in Oregon engaged in the selling of cannabis products such as flower, edibles and oils. The Portland location was the first licensed recreational store in the state and both locations are recognized for their premium product offerings and record of serving the craft segment of the Oregon cannabis market.

Pursuant to the terms of the asset purchase agreements between the company, Rosebuds Bakery and Brooklyn Holding, the purchase price payable by the company consisted of:

 

  • A cash payment of $400,000 (U.S.); 
  • The issuance of a secured convertible note in the principal amount of $800,000 (U.S.) convertible into common shares in the capital of Lineage at a price of 35 cents per share.

 

In connection with the closing of the APAs, the company also issued a stock finder's fee of 386,909 Lineage shares to FMI Capital Advisory Inc., a Toronto-based investment bank.

Peter Bilodeau, chief executive officer of Lineage, commented: "We are very pleased to have closed the Terpene Station acquisition. We're also tremendously proud to be doing business in the state of Oregon and we look forward to offering clients an exceptional cannabis retail experience."

About Lineage Grow Company Ltd.

Lineage is focused on assembling licensed operators with good growth potential and superior management, either through direct acquisition or through joint ventures, with an aim toward a dominant vertically integrated cannabis business that leverages best-in-class cultivation, brands, distribution and retail assets.

We seek Safe Harbor.

© 2018 Canjex Publishing Ltd. All rights reserved.

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