Harvest One Closes Upsized $20.125 Million Convertible Debenture Deal

Harvest One Closes $20,125,000 Public Financing of Debentures

VANCOUVER, British Columbia, Dec. 14, 2017 (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 unsecured convertible debenture units of the Company (the “Debenture Units”) in an aggregate principal amount of $20,125,000 (the “Offering”), which included the exercise of the over-allotment option granted to the Underwriters (defined below) in full. Each Debenture Unit consists of $1,000 principal amount of 8.0% unsecured convertible debentures of the Company (a “Debenture”) and 458 common share purchase warrants of the Company (each a “Warrant”).

The Debenture 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 (the “Underwriters”). The Company intends to use the net proceeds of the Offering to fund the development and expansion of a cannabis indoor cultivation facility in Chemainus, British Columbia as well as for working capital and for general corporate purposes. The Debentures and Warrants issued pursuant to the Offering are expected to trade on the TSX Venture Exchange under the symbols “HVST.DB” and “HVST.WT”, respectively.

The Debenture 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 three 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

Published by NCV Newswire
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