VANCOUVER, July 15, 2019 /CNW/ - Harvest One Cannabis Inc.
("Harvest One" or the Company") (TSX-V: HVT;
OTCQX: HRVOF) is pleased to announce its wholly-owned
subsidiary United Greeneries Ltd. ("United
Greeneries") has entered into a supply agreement with
9869247 Canada Limited ("Stevens Green") dated July 1st, 2019, pursuant to which Stevens Green
will cultivate and harvest United Greeneries' premium cannabis
genetics at their facility in Ontario.
Harvest One congratulates Stevens Green for receiving their
cultivation license from Health Canada on July 5, 2019, and looks forward to working
closely with the Stevens Green team to grow select United
Greeneries' premium cannabis genetics in their indoor facility, for
distribution under United Greeneries' established Royal High and Captain's Choice brands in the
adult market.
Under the terms of the agreement, United Greeneries will supply
clones of its premium strains, already in production at its
licensed facility in Duncan, British
Columbia, along with proprietary nutrient and irrigation
techniques, and cultivation expertise, in order to ensure the
production of consistent, premium craft cannabis its brands are
recognized for. In turn, Stevens Green will cultivate, harvest and
supply a minimum of 2,000 kgs of premium craft flower per year for
an initial term of three years. The agreement contains an option
for renewal with an increase in the minimum quantity of cannabis to
be supplied, to 5,000 kgs per year.
"We are very pleased to be expanding our national footprint and
increasing the supply for our own highly sought-after,
premium, craft cannabis flower," said Grant
Froese, Chief Executive Officer of Harvest One. "This
agreement triples Harvest One's current cultivation capacity
without further capital or operational outlays."
Facilities' Update
Premium Indoor Cultivation
Harvest One's targeted annual capacity of 20,000 kgs of premium
craft flower will satisfy supply agreements with our recreational
distribution partners in the provinces of British Columbia, Saskatchewan, Manitoba and, Ontario, as well as our medical distribution
partner, Shoppers Drug Mart, through its networks in Ontario and Alberta.
Duncan, British
Columbia
- United Greeneries' licensed facility in Duncan, British Columbia ("Duncan"), continues to produce premium
craft cannabis in both raw flower and pre-rolled formats currently
distributed in British Columbia,
Saskatchewan, Manitoba and, Ontario
- Phase 1 modular expansion at Duncan is complete and the evidence package
has been submitted to Health Canada, with licensing expected to
occur in Q3 2019
- Phase 2 and 3 modules are now erected in place, with on-site
construction aggressively underway and expected to be completed by
early Q4 2019
- The full modular expansion will triple Duncan's annual capacity to 3,500 kgs of
premium craft flower
- The 13 acres under lease adjacent to the Duncan facility is available for further
strategic modular expansion
Lucky Lake,
Saskatchewan
- Harvest One continues to make strong progress on the buildout
of its 68,000 sq. ft., state-of-the-art Lucky Lake cultivation and processing facility
("Lucky Lake")
- Structural upgrades to the roof, mezzanine, and four 10,000 sq.
ft. concrete bays that house the growing rooms has been
completed
- The Lucky Lake design
incorporates fourteen growing rooms that will have the capacity to
grow 11,000 kgs of premium craft flower annually at full
production
- Final project completion and Health Canada licensing are
expected in Q4 2019
- Lucky Lake's additional 23
acres of farmland has expansion potential for outdoor
cultivation
High Quality Greenhouse Cultivation and Extraction
Harvest One's recently announced strategic acquisition of
majority control of Greenbelt Greenhouse Ltd. ("Greenbelt"),
provides greenhouse cultivation, processing and extraction
facilities to support the Company's cannabinoid-infused premium
health and wellness product strategy. The Greenbelt facility will
supply high grade oil for product formulation and innovation of
Harvest One's Dream Water, LivRelief™ and Satipharm brand product
lines, as well as vape pens and other regulated derivative
products.
Lynden, Ontario
- The Greenbelt facility is a 152,000 sq. ft., Acrylite®, organic
greenhouse, with an adjoining 42,000 sq. ft. processing
facility
- The Greenbelt retrofit is currently underway with completion
and licensing expected in Q2 2020
- Upon completion, the Greenbelt facility will have the capacity
to grow in excess of 15,000 kgs of high quality cannabis annually
at full production
- Extraction capabilities of up to 150 kgs of dried flower a
day
- Greenbelt has an application pending with Health Canada for a
cultivation and processing license
Click here to see a photo gallery of Harvest One's
facilities.
Further to Harvest One's press release dated June 21, 2019 (See SEDAR for full disclosure) in
respect to a shares-for-services agreement, the Company has issued
449,492 common shares at a price of $0.69 per share.
ABOUT HARVEST ONE CANNABIS INC.
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 the entire cannabis
value chain through four wholly-owned subsidiaries: United
Greeneries, a Licensed Producer; Satipharm (medical and
nutraceutical); Dream Water Global and Delivra (consumer), and a
minority interest in Burb Cannabis (retail operations). 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. 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-V nor its Regulation Services Provider (as that
term is defined in the policies of the TSX-V) accept responsibility
for the adequacy or accuracy of this release.
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SOURCE Harvest One Cannabis Inc.