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Pasadena marks seventh license in California showcasing aggressive
growth in state and expanding national footprint of retail and
wholesale licenses across U.S.
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Harvest among top scoring applicants in highly regulated district
noted for quality-driven retail operations and commitment to improving
the local community
Harvest
Health & Recreation, Inc. (CSE:
HARV, OTCQX:
HRVSF) (“Harvest”), a vertically integrated cannabis company with
one of the largest and deepest footprints in the U.S., was awarded a
dispensary license to operate in Pasadena1, (subject to the
local Conditional Use Permit process and state regulatory requirements),
marking the seventh California license for the fast-growing company.
Harvest was among the top-scoring applicants from a pool of 128
applications to obtain licenses in the city, receiving top recognition
for its high-level of sophistication, best-in-class experience, and
world-renowned team of experts in operating quality-driven retail stores
with a focus on bettering the community.
“Pasadena’s affluent community and close proximity to the world’s
largest cannabis market of Los Angeles, makes it an ideal destination
for Harvest’s growing retail operations that focus on high-quality and
safe cannabis experiences and education,” said Steve White, Harvest’s
CEO. “Pasadena’s extensive application process and rigorous requirements
show the city’s commitment to only allowing operations that appeal to
the community’s prestigious standards. This is a big win for Harvest as
we continue to grow our presence in California and drive premiere retail
environments that are safe for consumers introducing the people of
Pasadena to our leading products, award-winning storefronts and
knowledgeable staff.”
Harvest’s dedication to building, acquiring and expanding brands and
distribution across its national footprint, provides greater cannabis
accessibility for consumers seeking high-quality and trusted
experiences. With California as the largest cannabis market in the
world, the company’s continued growth in the state sets leading industry
standards across operations and vertical integration. Additionally, in
California, Harvest recently opened a dispensary in Napa, which is the
city’s first medical cannabis location to open its doors to patients,
announced retail licenses for one of two dispensary locations in Santa
Monica, are soon to open a new location in Venice and are finalizing the
acquisition of Falcon International Corp.—the state’s leading operator
in logistics serving more than 80 percent of dispensaries. With
disciplined business practices, Harvest has excelled past competitors to
hold licenses for the right to operate more than 200 retail and
processing facilities in 17 states and territories across the U.S.
1 Steve White, CEO of Harvest, Health & Recreation, Inc.,
holds 100% ownership of the winning license entity, Harvest of Pasadena,
LLC, for the benefit of Harvest, Health & Recreation, Inc.
About Harvest Health & Recreation, Inc.
Headquartered in Tempe, Arizona, Harvest Health & Recreation, Inc. is
a multi-state cannabis operator (MSO) and vertically-integrated
cannabis company. Subject to completion of announced
acquisitions, Harvest will have the largest footprint in the U.S., with
rights to more than 210 facilities, of which approximately 140 are
retail locations, and more than 1,580 employees across 17 states. Since
2011, the company has been committed to aggressively expanding its
Harvest House of Cannabis retail and wholesale presence throughout the
U.S., acquiring, creating and growing leading brands for patients and
consumers nationally and continuing on a path of profitable
growth. Harvest’s mission is to improve lives through the goodness of
cannabis and is focused on its vision to become the most valuable
cannabis company in the world. We hope you’ll join us on our journey: https://harvestinc.com.
Facebook: @HarvestHOC
Instagram: @HarvestHOC
Twitter: @HarvestHOC
Forward-looking Statements
This press release contains statements which constitute
"forward-looking information" within the meaning of applicable
securities laws, including statements regarding the plans, intentions,
beliefs and current expectations of Harvest with respect to future
business activities. Forward-looking information is often identified by
the words "may," "would," "could," "should," "will," "intend," "plan,"
"anticipate," "believe," "estimate," "expect" or similar expressions and
include information regarding: (i) expectations regarding the size of
the U.S. cannabis market, (ii) the ability of the Company to
successfully achieve its business objectives, (iii) plans for expansion
of Harvest, and (iv) expectations for other economic, business, and/or
competitive factors.
Investors are cautioned that forward-looking information is not based
on historical facts but instead reflects Harvest management's
expectations, estimates or projections concerning future results or
events based on the opinions, assumptions and estimates of management
considered reasonable at the date the statements are made. Although
Harvest believes that the expectations reflected in such forward-looking
information are reasonable, such information involves risks and
uncertainties, and undue reliance should not be placed on such
information, as unknown or unpredictable factors could have material
adverse effects on future results, performance or achievements of the
combined Company. Among the key factors that could cause actual results
to differ materially from those projected in the forward-looking
information are the following: the potential impact of an announcement
of a going public transaction on relationships, including with
regulatory bodies, employees, suppliers, customers and competitors;
changes in general economic, business and political conditions,
including changes in the financial markets; and in particular in the
ability of the Company to raise debt and equity capital in the amounts
and at the costs that it expects; adverse changes in the public
perception of cannabis; decreases in the prevailing prices for cannabis
and cannabis products in the markets that the Company operates in;
adverse changes in applicable laws; or adverse changes in the
application or enforcement of current laws, including those related to
taxation; the inability to locate and acquire suitable companies,
properties and assets necessary to execute on the Company's business
plans; and increasing costs of compliance with extensive government
regulation. This forward-looking information may be affected by risks
and uncertainties in the business of Harvest and market conditions.
Should one or more of these risks or uncertainties materialize, or
should assumptions underlying the forward-looking information prove
incorrect, actual results may vary materially from those described
herein as intended, planned, anticipated, believed, estimated or
expected. Although Harvest has attempted to identify important risks,
uncertainties and factors which could cause actual results to differ
materially, there may be others that cause results not to be as
anticipated, estimated or intended. Harvest does not intend, and does
not assume any obligation, to update this forward-looking information
except as otherwise required by applicable law.
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