Harborside (CSE: HBOR) (OTCQX: HBORF) - Investor Dashboard

CSE Ticker: HBOR
Market Focus: United States
Classification: Vertically Integrated
Country: United States
Employees: 260 as of June 2021
Established: 2006
Interim CEO:

Matt Hawkins


Fiscal Year-End: Dec, 31
Auditor: Armanino LLP
Exchanges: CSE, OTCQX
Sector:  Consumer Staples
State operations: CA, OR
Headquarters: Oakland, CA

Financials (09/30/21)

Cash on hand: $14.0 million
Fixed Investment: $23.8 million
Shareholders’ Equity: $75.1 million
Revenues – Last Quarter: $17.4 million
Adj. Gross Margin : 48.3%
EPS : $0.03

Capital Structure (12/13/21)

Last Financing: 13.88 million units at C$2.55
Shares: 82.1 million
Warrants:  15.3 million
Options:  4.9 million
Diluted Shares: 102.4 million

Company Brief

Harborside Inc. (Follow Company) is one of the oldest and most respected cannabis retailers in California, operating three of the major dispensaries in the San Francisco Bay Area, a dispensary in the Palm Springs area outfitted with Southern California’s only cannabis drive-thru window, a dispensary in Oregon and a cultivation/production facility in Salinas, California. Since inception, the company has generated over $400M in cumulative sales. Harborside has played an instrumental role in making cannabis safe and accessible to a broad and diverse community of California consumers.

Co-founded by Steve DeAngelo and dress wedding in 2006, Harborside was awarded one of the first six medical cannabis licenses granted in the United States and today holds cannabis licenses for retail, distribution, cultivation, nursery and manufacturing.

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StateHouse Holdings

Harborside has signed definitive agreements to acquire California cannabis retailer Urbn Leaf and manufacturer Loudpack. Following the completion of the transactions, Harborside will be renamed StateHouse Holdings, which is expected to trade under the symbol CSE: STHZ. The combined companies will have retail, brands, processing, manufacturing, distribution and cultivation operations in the state of California. Learn more about StateHouse Holdings here.

Sublime Acquisition

Harborside has completed the acquisition of California cannabis manufacturer and brand Sublime, which completes the company’s vertical integration. The combined company will have 200,000 square feet of canopy, a 39,000-square-foot manufacturing and processing facility, seven trucks for distribution, three brands and five retail dispensaries.


  • Preeminent NorCal cannabis retail operations with a significant track record and expertise gained through 15 years of operations and ~$400 in cumulative sales
  • 200,000 square feet of flower canopy and 20,000 pounds of annual flower production; 39,000-square-foot manufacturing and processing facility
  • Operating four dispensaries in California and one in Oregon; an additional dispensary expected to open in San Francisco in Q4 2021
  • 500+ active retail customers
  • Vertically integrated with advanced cultivation expertise in Salinas greenhouse

Growth Strategy

  • Strategically focused on growing market share in California with acquisitions and new store openings
  • Utilizing over 30 licenses across the value chain to leverage scale and ensure supply chain stability
  • Continuing to develop house of proprietary brands and adding manufacturing and production capacity
  • Actively assessing several of opportunities across the value chain in California
  • Acquired its Salinas cultivation and production facility


  • Co-founded by cannabis icon Steve DeAngelo, the Harborside brand is well known throughout California, the United States and internationally
  • Focused on high-quality greenhouse cultivation and processing
  • Portfolio of differentiated products, including in-house brands Harborside Farms, Key and Sublime
  • Owns and operates one of two dispensaries in California with a drive-through

Institutional Analyst Coverage

Kenric S. Tyghe
ATB Capital Markets

Russell Stanley
Beacon Securities

Curated Stories & News

Visit Harborside, Inc.
at www.investharborside.com

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