HBOR

Harborside Inc. Completes Acquisition of Urbn Leaf and Appoints Ed Schmults as CEO

Retrieved on: 
Wednesday, March 2, 2022
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The Company is also pleased to announce that Ed Schmults has been appointed as Chief Executive Officer ("CEO") and a director of Harborside, effective immediately.

Key Points: 
  • The Company is also pleased to announce that Ed Schmults has been appointed as Chief Executive Officer ("CEO") and a director of Harborside, effective immediately.
  • In addition to acquiring Urbn Leaf, Harborside is also working to complete the previously announced acquisition of LPF JV Corporation ("Loudpack") (the "Loudpack Acquisition").
  • "We are grateful to the entire Urbn Leaf team that worked with us to finalize this transaction, including its seasoned CEO, Ed Schmults, who has been appointed as CEO and a director of Harborside."
  • "The combined assets of Urbn Leaf and Harborside provide an excellent opportunity for shareholders, and set the stage for the addition of Loudpack.

Harborside Inc. Announces Increased Interest in Haight-Ashbury Dispensary

Retrieved on: 
Tuesday, February 15, 2022
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Harborside is acquiring the increased interest in FGW through the execution of a securities purchase agreement (the "Agreement"), following the previously announced acquisition of a 50.1% interest in FGW that closed on December 18, 2020.

Key Points: 
  • Harborside is acquiring the increased interest in FGW through the execution of a securities purchase agreement (the "Agreement"), following the previously announced acquisition of a 50.1% interest in FGW that closed on December 18, 2020.
  • Subject to regulatory approval from the City of San Francisco, the FGW Acquisition will increase the Company's interest in FGW to 80%.
  • Pursuant to the Agreement, Harborside will pay an aggregate purchase price of USD$1,300,650 (the "Purchase Price") for the Shares.
  • "This dispensary in the historic and culturally-significant Haight-Ashbury district will enhance Harborside's position as a leading cannabis retailer in California," added Mr. Hawkins.

Harborside Inc. Announces Closing of First Tranche of Pelorus Debt Financing and Provides a Business Update

Retrieved on: 
Thursday, February 10, 2022
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Pelorus has funded a total of US$45.4 million pursuant to the first tranche of the Roll Up Financing,funded through three separate loansto Harborside, Loudpack and Urbn Leaf.

Key Points: 
  • Pelorus has funded a total of US$45.4 million pursuant to the first tranche of the Roll Up Financing,funded through three separate loansto Harborside, Loudpack and Urbn Leaf.
  • From its share of the proceeds of the Roll Up Financing, Harborside repaid the $12.0 million outstanding under its senior secured revolving credit facility.
  • Proceeds from the second tranche will be used primarily for working capital purposes and for growth capital of StateHouse.
  • "We believe that StateHouse will be well-positioned for long-term success in the California cannabis market," said Travis Goad, Managing Partner of Pelorus.

Harborside Inc. Announces Departure of Board Member

Retrieved on: 
Thursday, December 30, 2021
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OAKLAND, CA and TORONTO, Dec. 30, 2021 /PRNewswire/ - Harborside Inc. ("Harborside", or the "Company") (CSE: HBOR) (OTCQX: HBORF), a California-focused, vertically-integrated cannabis enterprise, today announced the resignation of Michael Dacks from its board of directors ("Board"), effective December 31, 2021.

Key Points: 
  • OAKLAND, CA and TORONTO, Dec. 30, 2021 /PRNewswire/ - Harborside Inc. ("Harborside", or the "Company") (CSE: HBOR) (OTCQX: HBORF), a California-focused, vertically-integrated cannabis enterprise, today announced the resignation of Michael Dacks from its board of directors ("Board"), effective December 31, 2021.
  • "On behalf of the entire Board and management team, I want to thank Mike for his significant contributions to Harborside," said Matthew Hawkins, Chair of the Board and Interim CEO.
  • "Since joining the Board in November 2020, Mike has played a crucial role in strengthening Harborside's competitive position.
  • Founded in California in 2006, Harborside was awarded one of the first six medical cannabis licenses granted in the United States.

Harborside Inc. Announces Change of Auditor

Retrieved on: 
Thursday, November 4, 2021
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Harborside Inc., a vertically integrated enterprise with cannabis licenses covering retail, distribution, cultivation, nursery, and manufacturing, is one of the oldest and most respected cannabis companies in the world.

Key Points: 
  • Harborside Inc., a vertically integrated enterprise with cannabis licenses covering retail, distribution, cultivation, nursery, and manufacturing, is one of the oldest and most respected cannabis companies in the world.
  • Founded in California in 2006, Harborside was awarded one of the first six medical cannabis licenses granted in the United States.
  • Harborside continues to play an instrumental role in making cannabis safe and accessible to a broad and diverse community of California and Oregon consumers.
  • Harborside is a publicly listed company, trading on the Canadian Securities Exchange ("CSE") under the ticker symbol "HBOR" and the OTCQX under the ticker symbol "HBORF".

Harborside Announces Retail Partnership with RNBW, a New Premium Brand at the Intersection of Cannabis and Live Music

Retrieved on: 
Friday, October 15, 2021
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The partnership places Harborside at the intersection of live music and cannabis culture.

Key Points: 
  • The partnership places Harborside at the intersection of live music and cannabis culture.
  • "Nineteen U.S. states and Washington D.C. have legalized adult-use cannabis and the public overwhelmingly advocates for expanded access to recreational cannabis.
  • Harborside is proud to make our stake at the intersection of live music and cannabis, two activities that have been enjoyed concurrently for generations."
  • RNBW is a premium brand for creators, music lovers, and believers in the power of cannabis.

Harborside Announces Planned Commercial-Scale Renewable Energy Microgrid Project at Salinas Production Campus

Retrieved on: 
Tuesday, October 12, 2021
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Upon its planned completion in the second half of 2022, the cutting-edge microgrid energy system is expected to produce approximately 8,600,000 kWh of electricity each year, which is enough clean renewable energy to offset up to 100% of the Company's current power consumption at the Production Campus.

Key Points: 
  • Upon its planned completion in the second half of 2022, the cutting-edge microgrid energy system is expected to produce approximately 8,600,000 kWh of electricity each year, which is enough clean renewable energy to offset up to 100% of the Company's current power consumption at the Production Campus.
  • The Project will be fully funded and installed by Scale Microgrid Solutions ("Scale Microgrid"), a vertically integrated distributed energy company.
  • "The team at Harborside is extremely proud to launch an industry leading renewables project and to be able to completely power our Production Campus from the sun.
  • This installation will utilize a microgrid system that incorporates renewable energy and onsite energy storage.

Harborside Expected to Transition to Domestic Issuer Status in United States

Retrieved on: 
Monday, September 27, 2021
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If and when the Transition is completed, the Company will be subject tothe U.S. Securities and Exchange Commission's ("SEC")reporting requirements applicable toU.S.domestic companies.

Key Points: 
  • If and when the Transition is completed, the Company will be subject tothe U.S. Securities and Exchange Commission's ("SEC")reporting requirements applicable toU.S.domestic companies.
  • The SEC's reporting requirements will require, among other things, Harborside's financial statements and financial data to be presented underU.S.GAAP.
  • This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian and United States securities legislation.
  • Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States.

Harborside Inc. Announces Strategic Agreement in Cannabis Crop Steering Research

Retrieved on: 
Thursday, September 16, 2021
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By adjusting irrigation, lighting and climate throughout the grow cycle, proper crop steering gives cannabis growers more control over the performance of their harvest.

Key Points: 
  • By adjusting irrigation, lighting and climate throughout the grow cycle, proper crop steering gives cannabis growers more control over the performance of their harvest.
  • Harborside's Vice President of Production, Travis Higginbotham, will work closely with Dr. Bugbee to identify relevant and practical crop steering techniques while contributing to the science of cannabis.
  • "We are eager to work alongside Dr. Bugbee to increase the collective scientific understanding of growing cannabis and discovering new production practices that maximize the performance of this crop."
  • "We have used the crop steering approach in collaborative research with NASA to improve the yield of food crops in highly controlled environmentsand are now applying our insight to cannabis."

Harborside Completes Acquisition of its Desert Hot Springs Retail Location

Retrieved on: 
Friday, September 3, 2021
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Prior to closing of the Acquisition, Harborside had been operating the dispensary since December 2019 under a management services agreement.

Key Points: 
  • Prior to closing of the Acquisition, Harborside had been operating the dispensary since December 2019 under a management services agreement.
  • "We are thrilled to add our Desert Hot Springs retail dispensary into our California retail store portfolio," said Matt Hawkins, Interim CEO of Harborside.
  • In December 2019, Harborside announced that it opened DHS, the Company's first retail location outside of the Bay Area.
  • Harborside expects to finance all or a portion of the Purchase Price owed for the Property after closing of the Acquisition.