Harvest Health & Recreation Inc. Announces Divestiture of Utah Assets
Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) has successfully divested its cultivation and processing operations in Ogden, Utah, to a local operator for an immaterial cash amount. This strategic move aligns with Harvest's plan to refocus resources toward growth in core markets. Following this divestiture, Harvest no longer maintains any operations in Utah, as confirmed by CEO Steve White, who emphasized the company's commitment to expanding its presence in key areas.
- Strategic divestiture of non-core assets to focus on growth opportunities.
- Completion of the sale allows reallocation of resources to core markets.
- None.
PHOENIX, July 15, 2021 /PRNewswire/ -- Harvest Health & Recreation Inc. ("Harvest") (CSE: HARV, OTCQX: HRVSF), a vertically integrated cannabis company and multi-state operator in the U.S., has completed the divestiture of its cultivation and processing operations in Utah.
A local operator acquired Harvest's cultivation and processing operations located in Ogden, Utah for an immaterial amount of cash. Following the sale, Harvest no longer has operations in Utah.
"We are pleased to have completed this divestiture as part of our strategic plan," said Chief Executive Officer Steve White. "We will continue to allocate resources to growth opportunities in our core markets."
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" within the meaning of the Private Securities Litigation Reform Act of 1995 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 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 in such markets; statements regarding our proposed strategic business combination with Trulieve, including without limitation, the expected terms, timing and closing of the combination, the timing and nature of all required regulatory approvals, estimates of pro-forma financial information of the combined company, Trulieve's and Harvest's expected financial performance for fiscal 2021, the combined operations and prospects of Trulieve and Harvest, and the current and projected market and growth opportunities for the combined company and value for shareholders; 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.
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