Harvest One Cannabis Closes Upsized $40.25 Million Financing

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Harvest One Closes $40,250,000 Public Financing of Units, Including Exercise of Over-Allotment Option in Full

VANCOUVER, British Columbia, Jan. 31, 2018 (GLOBE NEWSWIRE) — Harvest One Cannabis Inc. (TSXV:HVST) (“Harvest One” or the “Company”) is pleased to announce that it has closed its previously announced “bought deal” offering of $40,250,000 of units (“Units”) of the Company, at a price of $1.82 per Unit (the “Offering”), which included the exercise of the over-allotment option granted to the Underwriters (defined below) in full. Each Unit consisted of one common share (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share (a “Warrant Share”) at an exercise price of $2.30 per Warrant Share at any time up to January 31, 2020.

The Units were sold on a “bought deal” basis through a syndicate of underwriters led by Mackie Research Capital Corporation and including Haywood Securities Inc. and Eight Capital (collectively, the “Underwriters”). The Company intends to use the net proceeds of the Offering to expand the Company’s facilities as well as for working capital and general corporate purposes.

In connection with the listing of the Warrants, it is expected that Harvest One will be changing its trading symbol, which will be announced later today. The trading symbol under which the Warrants issued under the Offering will trade will also be announced at such time.

The Units issued under the Offering were offered by way of a short form prospectus filed with the securities regulatory authorities in each of the provinces of Canada except Québec. Copies of the final short form prospectus and documents incorporated therein are available electronically under the Company’s issuer profile on SEDAR at www.sedar.com.

About Harvest One

Harvest One controls operations across the entire cannabis value chain through two business units, with Harvest One serving as the umbrella company over horticultural arm United Greeneries and medical arm Satipharm AG. Each business is strategically located in favorable jurisdictions with supportive regulatory frameworks in place. United Greeneries has received a Canadian medicinal cannabis cultivation and sales license, making Harvest One one of only a few companies globally with the capacity to commercially cultivate and sell cannabis in a federally regulated environment.

Original Press Release

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