Birds Of Pay – Harvest To Acquire California-Based Company Falcon

September 24, 2019 – PHOENIX, Ariz. – Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S. and Falcon International Corp. ("Falcon"), a California based cannabis company with experience in cultivation, manufacturing, wholesale distribution and brand development, today have both certified substantial compliance with the Request for Additional Information and Documentary Materials ("Second Request") issued by the Department of Justice ("DOJ") on April 17, 2019 regarding Harvest's proposed acquisition of Falcon.

Harvest also announced continued progress towards completing its plans to acquire Verano Holdings, LLC ("Verano"), and CannaPharmacy, Inc. ("CannaPharmacy"). These transactions will provide Harvest with key executive and management positions, best in class operating assets and an expanded footprint in both adult-use and medical markets.

Through the integration process, Harvest will further enhance its operational capabilities throughout the US and capitalize on the significant advantages each company holds in its respective markets.

The certification of substantial compliance triggers the start of a 30-day waiting period during which Harvest and Falcon will continue to work constructively with the DOJ to complete the investigation. The waiting period is expected to expire on or around October 23, 2019 after which the parties will be free to close unless the DOJ takes legal action to block the transaction.

Pending satisfaction of closing conditions and receipt of all regulatory approvals, Harvest expects to then close the transaction, expanding its presence in California, the largest cannabis market in the U.S. Separately, Harvest and Verano are nearing certification on substantial compliance with the Second Request issued by the DOJ and are currently on track to certify by the end of October, with the transaction expected to close by year-end.

This acquisition will combine two geographically complementary, like-minded, market-leading multi-state operators focused on quality, operating excellence and profitable growth.

Finally, Harvest has certified substantial compliance with respect to the CannaPharmacy transaction, and upon certification of substantial compliance by CannaPharmacy the 30-day waiting period will begin. Through this acquisition, Harvest will expand its footprint in certain eastern states where CannaPharmacy operates.

"We have made significant progress in submitting the required documents for second requests on Verano and CannaPharmacy and certified substantial compliance for Falcon and look forward to closing all the acquisitions by year-end." Harvest CEO Steve White.

White went on to say that "in this dynamic industry, we continue to evaluate our organization and drive towards our goal to build the best team in cannabis. These game-changing transactions not only bring revenue and compelling assets to our portfolio, even more importantly, they bring very talented operational executives and key leadership to the Harvest family. We feel strongly that the new talent that will join the company through these acquisitions will be transformational.

"While 2019 has been an important year in our history, we are excited by the prospects of what we can achieve together as One Harvest in 2020. These partnerships will only serve to build upon our capabilities to improve people's lives through all the goodness cannabis has to offer."

Disclaimer: Past performance is not an indicator of future performance.

Disclaimer: past performance is not an indicator of future performance.

About Harvest Health & Recreation, Inc.

Headquartered in Tempe, Arizona, Harvest Health & Recreation, Inc. are a multi-state cannabis operator (MSO) and vertically-integrated cannabis company.

Subject to completion of announced acquisitions, Harvest will have one of the largest footprints in the U.S., with rights to more than 210 facilities, of which approximately 130 are retail locations, and more than 1,700 employees across 18 states and territories. Since 2011, the company has been committed to expanding its Harvest House of Cannabis retail and wholesale presence throughout the U.S., acquiring, creating and growing leading brands for patients and consumers nationally and continuing on a path of profitable growth. Harvest's mission is to improve lives through the goodness of cannabis and is focused on its vision to become the most valuable cannabis company in the world.

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Louis O'Neill
Louis O'Neill

Louis is a writer based in Sydney with a focus on social and political issues. Having interviewed local politicians and entrepreneurs, Louis now focuses on cannabis culture, legislation & reform.

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