Newly Public Harvest Acquires CBx Enterprises for Undisclosed Terms

Harvest Health & Recreation Inc. Acquires CBx Enterprises

Partnership to Bring Award-Winning Products from Evolab and CBx Sciences to Harvest Stores Across Eight States and One of Largest Footprints in the World

DENVER & PHOENIX – Nov. 15, 2018 – Harvest Health & Recreation Inc. (“Harvest”), a vertically integrated cannabis company with one of the largest footprints in the United States, today announced the acquisition of CBx Enterprises (“CBx”), whose technology is utilized by Evolab, CBx Sciences and CBx Essentials.

Harvest now holds exclusive national rights to CBx’s intellectual property, including all technology, methodologies, trademarks and formulations.

CBx has established itself as the dominant leader in cannabis product development, research and innovation, and our partnership is a game-changer for expansion.

Harvest Chairman Jason Vedadi

Working with the CBx team will allow us to radically slash the lengthy and costly product development cycles in each new market that we enter and can now immediately offer some of the most trusted products in the cannabis industry. Bringing CBx’s team and products to Harvest’s robust and aggressive portfolio of retail operations combines two of the most effective names in cannabis.

CBx’s CO2 extraction, distillation, purification and manufacturing solutions – which brands such as Evolab utilize – are unrivaled in the cannabis industry and will be the cornerstone of all Harvest production facilities. The company has an in-house analytical and product development laboratory headed by Noel Palmer, Ph.D., which has helped create top industry-first products including the first CBG and Delta 8 THC offerings in Colorado.

Harvest has created a vast infrastructure already reaching nearly every major medical and adult-use cannabis market in the US. This arrangement will allow us to ensure that patients and recreational users across the country have access to premium, consistent products based on our years of experience and award-winning technologies.

Nicole Smith, CEO, CBx Enterprises

CBx’s technology is used in Evolab’s product lines including Chroma™, Alchemy™, Colors and FreshTerps™, which established reputations as some of the most innovative cannabis products in the legal market and have been recognized in many cannabis industry award programs including the Cannabis Business Awards, High Times Cannabis Cup, Hemp Connoisseur Championship and others.

CBx Sciences has introduced a unique line of therapeutic cannabis topicals, vapes and Gems featuring rare cannabinoids such as CBG and CBN paired with complementary botanical ingredients. CBx also recently announced a hemp-derived product line, CBx Essentials, available for distribution nationwide.

CBx Sciences and Evolab products will be available at Harvest locations beginning later this year and are currently available at hundreds of medical and adult-use locations across Colorado.

About Harvest Health & Recreation Inc.:

Harvest Health & Recreation Inc. is one of the first consistently profitable, vertically integrated cannabis companies with one of the largest footprints in the U.S. Harvest’s complete vertical solution includes industry-leading cultivation, manufacturing, and retail facilities, construction, real estate, technology and operational expertise — leveraging in-house legal, HR and marketing teams, along with proven experts in writing and winning state-based applications. The company has more than 250 employees with proven experience, expertise and knowledge of in-house best practices that are drawn upon whenever Harvest enters new markets. Harvest’s executive team is comprised of leaders in finance, compliance, real estate and operations. Since its founding in 2011, Harvest has grown its footprint every year and now has licenses in eight states, with planned expansion into additional states by 2020. Harvest shares timely updates and releases as part of its regular course of business with the media and the interested public. For more information, visit: https://www.harvestinc.com/.

About CBx Enterprises:

CBx Enterprises is an international botanical technology company. Founded by a team of seasoned experts, the company is dedicated to advancing the global cannabis industry by offering in-demand services and creating effective products, formulations and technology platforms. CBx holds distribution, licensing and intellectual property agreements with a number of leading cannabis and healthcare brands. Learn more at CBxSciences.com

Original press release

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Published by NCV Newswire
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