Harborside Inc. C.BUDD

BOOOOOOM!!! DEAL GETTING DONE FINALLY!

[BayStreetkid]

TORONTO, Feb. 11, 2019 (GLOBE NEWSWIRE) -- Lineage Grow Company Ltd. (CSE:BUDD) ("Lineage") and FLRish, Inc. d/b/a Harborside ("Harborside"), a private company incorporated under the laws of California, are pleased to announce today that they have entered into a definitive merger agreement (the "Definitive Agreement"), which, subject to certain conditions and the Canadian Securities Exchange (the "CSE") approval, will result in the reverse takeover of Lineage by Harborside (the "RTO").

MERGER HIGHLIGHTS:

• On closing of the RTO and the Merger taking effect, the holders of Harborside's shares will receive either a combination of Multiple Voting Shares and Subordinate Voting Shares, or Subordinate Voting Shares, for each Harborside share outstanding in the resulting issuer, Lineage. The voting rights underlying the Multiple Voting Shares track the respective economic interests of the underlying shares and have been adopted for tax efficiency purposes.

• The Resulting Issuer will seek a listing of the Subordinate Voting Shares on the CSE.
   
• Lineage intends to effect a change of its name to "Harborside Inc." and has reserved a new stock symbol to "HBOR".
   
• Harborside plans to conduct an offering of subscription receipts in a private placement to be conducted prior to the closing of the RTO, to raise up to C$70 million. 
   
• The Resulting Issuer's business objective will be to maintain and build Harborside’s position as California's premier vertically-integrated cannabis company.
   
• Lineage common shares shall be consolidated and reclassified on a post-Consolidation basis as Subordinate Voting Shares, then the number of underlying shares will be adjusted so that 41.82 shares will be converted into one (1) Subordinate Voting Share.
   
• Merger Agreement Includes Three Proposed Stock Dividends to Lineage shareholders to be granted subject to completion of i) the RTO, ii) the Lux acquisition, iii) the Agris acquisition.
   
• Lineage Shareholders Meeting to approve the RTO, amongst other things, will be called imminently.