VANCOUVER, July 15, 2019 /PRNewswire/ – Harvest One Hashish Inc. (“Harvest One” or the Firm”) (TSX-V: HVT;OTCQX: HRVOF) is happy to announce its wholly-owned subsidiary United Greeneries Ltd. (“United Greeneries”) has entered right into a provide settlement with 9869247 Canada Restricted (“Stevens Inexperienced”) dated July 1st, 2019, pursuant to which Stevens Inexperienced will domesticate and harvest United Greeneries’ premium cannabis genetics at their facility in Ontario.
Harvest One congratulates Stevens Inexperienced for receiving their cultivation license from Well being Canada on July 5, 2019, and appears ahead to working carefully with the Stevens Inexperienced staff to develop choose United Greeneries’ premium cannabis genetics of their indoor facility, for distribution below United Greeneries’ established Royal Excessive and Captain’s Alternative manufacturers within the grownup market.
Underneath the phrases of the settlement, United Greeneries will provide clones of its premium strains, already in manufacturing at its licensed facility in Duncan, British Columbia, together with proprietary nutrient and irrigation methods, and cultivation experience, in an effort to make sure the manufacturing of constant, premium craft cannabis its manufacturers are acknowledged for. In flip, Stevens Inexperienced will domesticate, harvest and provide a minimal of two,000 kgs of premium craft flower per 12 months for an preliminary time period of three years. The settlement incorporates an possibility for renewal with a rise within the minimal amount of cannabis to be provided, to five,000 kgs per 12 months.
We’re very happy to be increasing our nationwide footprint and rising the provision for our personal extremely sought-after, premium, craft cannabis flower.
Grant Froese, Chief Government Officer of Harvest One
This settlement triples Harvest One’s present cultivation capability with out additional capital or operational outlays.
Premium Indoor Cultivation
Harvest One’s focused annual capability of 20,000 kgs of premium craft flower will fulfill provide agreements with our leisure distribution companions within the provinces of British Columbia, Saskatchewan, Manitoba and, Ontario, in addition to our medical distribution associate, Consumers Drug Mart, by means of its networks in Ontario and Alberta.
Duncan, British Columbia
- United Greeneries’ licensed facility in Duncan, British Columbia (“Duncan”), continues to provide premium craft cannabis in each uncooked flower and pre-rolled codecs at the moment distributed in British Columbia, Saskatchewan, Manitoba and, Ontario
- Section 1 modular growth at Duncan is full and the proof package deal has been submitted to Well being Canada, with licensing anticipated to happen in Q3 2019
- Section 2 and three modules are actually erected in place, with on-site building aggressively underway and anticipated to be accomplished by early This autumn 2019
- The total modular growth will triple Duncan’s annual capability to three,500 kgs of premium craft flower
- The 13 acres below lease adjoining to the Duncan facility is on the market for additional strategic modular growth
Fortunate Lake, Saskatchewan
- Harvest One continues to make robust progress on the buildout of its 68,000 sq. ft., state-of-the-art Fortunate Lake cultivation and processing facility (“Fortunate Lake”)
- Structural upgrades to the roof, mezzanine, and 4 10,000 sq. ft. concrete bays that home the rising rooms has been accomplished
- The Fortunate Lake design incorporates fourteen rising rooms that can have the capability to develop 11,000 kgs of premium craft flower yearly at full manufacturing
- Closing undertaking completion and Well being Canada licensing are anticipated in This autumn 2019
- Fortunate Lake’s further 23 acres of farmland has growth potential for outside cultivation
Excessive High quality Greenhouse Cultivation and Extraction
Harvest One’s just lately introduced strategic acquisition of majority management of Greenbelt Greenhouse Ltd. (“Greenbelt”), supplies greenhouse cultivation, processing and extraction services to help the Firm’s cannabinoid-infused premium well being and wellness product technique. The Greenbelt facility will provide excessive grade oil for product formulation and innovation of Harvest One’s Dream Water, LivRelief™ and Satipharm model product traces, in addition to vape pens and different regulated spinoff merchandise.
- The Greenbelt facility is a 152,000 sq. ft., Acrylite®, natural greenhouse, with an adjoining 42,000 sq. ft. processing facility
- The Greenbelt retrofit is at the moment underway with completion and licensing anticipated in Q2 2020
- Upon completion, the Greenbelt facility could have the capability to develop in extra of 15,000 kgs of top quality cannabis yearly at full manufacturing
- Extraction capabilities of as much as 150 kgs of dried flower a day
- Greenbelt has an utility pending with Well being Canada for a cultivation and processing license
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Additional to Harvest One’s press launch dated June 21, 2019 (See SEDAR for full disclosure) in respect to a shares-for-services settlement, the Firm has issued 449,492 widespread shares at a worth of $0.69 per share.
ABOUT HARVEST ONE CANNABIS INC.
Harvest One is a world cannabis firm that develops and supplies progressive life-style and wellness merchandise to customers and sufferers in regulated markets world wide. The Firm’s vary of life-style options is designed to boost high quality of life. Shareholders have important publicity to the complete cannabis worth chain by means of 4 wholly-owned subsidiaries: United Greeneries, a Licensed Producer; Satipharm (medical and nutraceutical); Dream Water International and Delivra (shopper), and a minority curiosity in Burb Hashish (retail operations). For extra info, please go to www.harvestone.com.
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