OTCQX:HRVSF - Post by User
Comment by
BaystreetBrianon Nov 22, 2018 1:05pm
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Post# 29010482
RE:RE:NEWEST HARV NR!
RE:RE:NEWEST HARV NR!Its normal, all marijuana stocks are at a premium, and why wait 6 months, TGOD had shares at 1 dollar go free. That didnt stop the stock from doubling in less then a year.
MJInvestor101 wrote: ok correct me if I am wrong but Multi voting shares are worth 100 votes and convertable to 100 subordinate (or regular shares). They just gave this company
US$29,650,920 in Multiple Voting Stock valued at $390 per share the value of each share is supposed to be worth $808.00 (subordinate share x 100) as of today's closing. So they basically sold shares to these guys (which they are going to dump in 6 months time when the lockup expires...for guess how much....$3.90 a share. Get your shorts ready...
Correct me if I am wrong but I think we have been had... I would not be buying this now, wait 6 months and get it 50% off like they did...
BaystreetBrian wrote: PHOENIX & GAINESVILLE, Fla. — Harvest Health & Recreation, Inc. (“Harvest”), a vertically integrated cannabis company with one of the largest footprints in the United States, today completed the purchase of its previously announced plans to acquire 100 percent of the issued and outstanding common stock of San Felasco Nurseries, Inc. (“San Felasco”), a holder of a medical marijuana dispensary license and authorization to operate as a Medical Marijuana Treatment Center in the state of Florida that can produce, process and dispense medical marijuana and marijuana products. Each Medical Marijuana Treatment Center is allowed to operate up to 25 dispensaries in the State of Florida, subject to increase in certain circumstances.
With this acquisition Harvest’s footprint now includes more than 40 licenses in 10 states and the company has grown to 425 employees.
“This acquisition ensures Florida patients can finally receive the highest quality products and experience in the cannabis industry,” said Harvest CEO and founder Steve White. “Harvest is thrilled to bring its consistent, safe, fully vertically integrated approach to dozens of forthcoming stores in the Sunshine State.”
The purchase price for the acquisition as provided for in the agreement was US$65,676,287.70 comprised of US$34,058,579.32 in cash, US$29,650,920 in Multiple Voting Stock valued at $390 per share and $1,966,788.38 in assumption of debt. In addition, the Company agreed to issue $4,000,000 in Multiple Voting Stock valued at $390 per share to a lender of San Felasco’s as consideration for waiving certain of its rights and extending the term of certain debt and other financing commitments to San Felasco as previously disclosed. The Multiple Voting Stock issuable in these transactions is subject to a lock-up for a period of six months from the date of the closing.