Harvest One Comments on Market Trading Activity

VANCOUVER, May 22, 2020 /CNW/ - Harvest One Cannabis Inc. ("Harvest One" or the "Company") (TSX-V: HVT; OTCQX: HRVOF) is responding to a request from the Investment Industry Regulatory Organization of Canada, following the trading activity occurring yesterday in its common shares. The Company is not aware of any corporate developments or other reason for the recent increase in market activity, and there has been no material change or information to report under applicable securities laws that would account for recent trading activity in its common shares. As a general policy, the Company does not publicly comment on unusal market activity, rumors or speculation in the marketplace.

As previously announced on February 12, 2020, the Board of Directors of the Company has initiated a process to evaluate a range of strategic alternatives available to the Company (the "Strategic Review"). Harvest One will undergo the Strategic Review in order to re-focus its business on brand development, innovative new products and sales channels for its portfolio of Cannabis 2.0 lifestyle and wellness products.

There are currently no definitive decisions relating to any strategic alternatives at this time, and there is no assurance that any strategic transaction or transactions will result from the Strategic Review. The Company does not intend to comment further with respect to the Strategic Review unless and until it determines that additional disclosure is appropriate in the circumstances and in accordance with the requirements of applicable securities laws.

About Harvest One

Harvest One is a global cannabis company that develops and provides innovative lifestyle and wellness products to consumers and patients in regulated markets around the world. The Company's range of lifestyle solutions is designed to enhance quality of life. Shareholders have significant exposure to a broad cannabis value chain through its wholly-owned subsidiaries: United Greeneries, a Licensed Producer; Satipharm (medical and nutraceutical); and Dream Water Global, and Delivra (consumer); as well as a controlling interest in Greenbelt Greenhouse. For more information, please visit www.harvestone.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance about Harvest One and its business and operations, which include, among other things, statements with respect to the Strategic Review, its corporate strategy moving forward, any transactions arising from the Strategic Review, and future opportunities available for the Company. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this press release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties, and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Harvest One Cannabis Inc.

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