Harvest Announces Settlement with Pennsylvania Department of Health Regarding Grower Processor Permittee AGRiMED Industries LLC

Rhea-AI Summary

Harvest Health & Recreation Inc. announced a settlement with the Pennsylvania Department of Health on May 6, 2021, regarding Agrimed Industries of PA, LLC, a medical marijuana grower processor. This agreement allows for the conditional renewal of Agrimed's permit, enabling increased production of medical marijuana in Southwestern Pennsylvania, ultimately benefiting patients across the Commonwealth. Harvest, a vertically integrated cannabis company, aims to expand its operations and enhance its product offerings in the U.S.

Positive

• Settlement agreement reached, enabling increased production of medical marijuana.
• Conditional renewal of Agrimed Industries' permit improves operational capacity.

Negative

• None.

PHOENIX, May 7, 2021 /PRNewswire/ -- Harvest Health & Recreation Inc. ("Harvest") (CSE: HARV, OTCQX: HRVSF), a vertically integrated cannabis company and multi-state operator in the U.S., today announced a settlement agreement has been reached for Agrimed Industries of PA, LLC ("AGRiMED"). The membership interests of AGRiMED are owned by Harvest Health and Recreation Inc.

On May 6, 2021, the Pennsylvania Department of Health, Office of Medical Marijuana and AGRiMED reached a settlement agreement concerning the operation of AGRiMED, a medical marijuana grower processor facility in Southwestern Pennsylvania.  The settlement agreement allows for the conditional renewal of AGRiMED's permit and will allow for the increased production of medical marijuana in Southwestern Pennsylvania, which will help serve patients across the Commonwealth.

About Harvest Health & Recreation Inc.
Headquartered in Tempe, Arizona, Harvest Health & Recreation Inc. is a vertically integrated cannabis company and multi-state operator. Since 2011, Harvest has been committed to expanding its retail and wholesale presence throughout the U.S., acquiring, manufacturing, and selling cannabis products for patients and consumers in addition to providing services to retail dispensaries. Through organic license wins, service agreements, and targeted acquisitions, Harvest has assembled an operational footprint spanning multiple states in the U.S. Harvest's mission is to improve lives through the goodness of cannabis. We hope you'll join us on our journey: https://harvesthoc.com 

Facebook: @HarvestHOC
Instagram: @HarvestHOC
Twitter: @HarvestHOC

Forward-looking Statements
This press release may contain "forward-looking statements" regarding Harvest's business strategies or prospects, which may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions. Such statements include, but are not limited to, the following: our ability to resolve existing and future litigation, regulatory actions and arbitrations on acceptable terms; our growth potential in our core  cannabis markets and the sustainability of such growth; our ability to successfully and timely execute our business and operational plans; the development of favorable federal and state cannabis regulatory frameworks in the United States applicable to multi-state cannabis operators; and adverse changes in the public perception of cannabis.  Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including assumptions in respect of current and future market conditions. Actual results, performance or achievement could differ materially from that expressed in, or implied­.

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SOURCE Harvest Health & Recreation Inc.

FAQ

What is the recent settlement announced by Harvest Health & Recreation Inc.?

Harvest Health & Recreation Inc. has reached a settlement with the Pennsylvania Department of Health regarding Agrimed Industries, allowing for the conditional renewal of their permit.

How will the settlement impact Harvest's operations in Pennsylvania?

The settlement will enable increased production of medical marijuana at Agrimed's facility, helping to serve patients in Pennsylvania.

When was the settlement agreement reached between Harvest and the Pennsylvania Department of Health?

The settlement agreement was reached on May 6, 2021.

What is Agrimed Industries' role in the settlement with Harvest?

Agrimed Industries is a medical marijuana grower processor facility under Harvest Health & Recreation Inc. whose permit is being renewed under the settlement.