Harvest Health & Recreation Inc OTCMKTS: HRVSF 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 219 facilities, of which 142 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.
Harvest Health & Recreation Inc OTCMKTS: HRVSF announced the appointment of Alex Howe as head of corporate communications, effective immediately.
However, the former President of Powerplant Global Strategies, the first strategic partnerships, communications and investor relations firm exclusively focused on the legal cannabis industry, will be responsible for managing and directing the company’s internal and external communications and strategy, reporting to Harvest Chief Marketing Officer Kevin George.
“As I became more aware of the incredible story happening here at Harvest, I knew that this was the right time to join this dynamic team,” said Howe. “The company is truly at an opportune moment: to become the most valuable cannabis company in the world. And I couldn’t be more proud and delighted to share and shape this compelling narrative with our most important stakeholders, including patients and consumers, the media, regulators, partners, investors, local communities and our employees.” Harvest CEO Steve White concurred.
“We interact with a very diverse audience on a daily basis, so communicating the Harvest story to patients, consumers and potential investors is critical to our success moving forward. Alex’s significant work with cannabis industry clients and his experience outside of the sector will help us expand our leadership position and maintain our growth,” said Harvest CMO Kevin George. “We’ve worked closely with Alex since prior to going public and are excited to bring him in-house where he’ll be extremely effective at bringing all of our communications efforts together.”
Howe brings 17 years of experience to the position, working in corporate strategy and communications for cannabis, consumer, technology, Fortune 50 and sports and entertainment companies and has helped launch dozens of companies and build brands across sectors. As a co-founder of Powerplant Global Strategies, he worked closely with many of the best-known companies in the cannabis industry, including PAX, Arcview, Merida Capital Partners, I Heart Jane, THC Design and many others. In 2018, he was named one of Marijuana Venture magazine’s “40 Under 40.”
Prior to joining Powerplant, Howe was a Director at fama, North America’s premier boutique PR firm for technology companies, where he launched startups and developed thought leadership campaigns for enterprise companies in the B2C and B2B spaces. Before fama, Alex was a vice president at Global Strategy Group in New York City, where he provided public affairs support, digital, traditional and crisis communications and produced award-winning campaigns for Google, Formula 1, UFC, Nestlé Waters, Time Warner, Inc. and the New York Road Runners.
Harvest Health & Recreation Inc OTCMKTS: HRVSF On April 22, 2019 Signed an agreement to acquire (the “Transaction”) Verano Holdings, LLC (“Verano”), as previously announced by press release dated March 11, 2019. Verano is one of the largest privately held multi-state, vertically integrated licensed operators of cannabis facilities with an extensive portfolio of premium branded products.
Pursuant to the terms of the Business Combination Agreement, securityholders of Harvest and Verano will become securityholders in the combined company which will carry on the business of Harvest and Verano (the “Resulting Issuer”). The Transaction will be carried out by way of a plan of arrangement under the Business Corporations Act (British Columbia) whereby, among other things: (i) Harvest shareholders will exchange their shares in Harvest for equivalent securities in the Resulting Issuer on a 1:1 basis, and (ii) Verano securityholders will be issued a combination of subordinate voting shares and multiple voting shares in the capital of the Resulting Issuer in connection with the indirect exchange of their securities in Verano. The all-stock Transaction has an implied total acquisition cost of approximately USD $850 million, based on a Harvest share price of CND $8.79. In addition, the Transaction will include completion of various Verano pipeline acquisitions, with a combined value of approximately USD $36 million, additional pipeline acquisitions that are in negotiations and may include certain entities that are ancillary to Harvest’s business, payable in shares of the Resulting Issuer.
In connection with the Transaction, an application will be made to list the Resulting Issuer’s subordinate voting shares for trading on the Canadian Securities Exchange (the “CSE”).