Harvest Health Acquires Urban Greenhouse


July 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., announced today the acquisition of Phoenix operator Urban Greenhouse. The agreement advances the company's expansion and market penetration efforts across Arizona, adding operations of the Urban Greenhouse medical cannabis dispensary and cultivation facility. The dispensary will be transitioned to operate under Harvest's House of Cannabis stores, known for quality-driven retail experiences with a focus on bettering the community.

"As we grow to be the most valuable cannabis company, it is imperative that we continue efforts in key cannabis markets including our home state of Arizona to bring the community greater economic development and provide consumers easier access to high-quality retail experiences and products. We have a deep appreciation for our home market and are dedicated to driving new job opportunities, future store developments and consumer education programs for local communities," said Harvest Executive Chairman Jason Vedadi.

 

"Urban Greenhouse has done an exceptional job of becoming a household name in Phoenix and with its excellent real estate position and community reputation, we believe Harvest's expert operational team will only accelerate the growth for the already successful dispensary."

– Harvest Executive Chairman Jason Vedadi

 

 

Harvest's dedication to building, acquiring and expanding brands and distribution across its national footprint provides greater cannabis accessibility for consumers seeking high-quality and trusted experiences. Harvest has agreed to purchase Urban Greenhouse for an undisclosed amount of cash and stock.

Harvest now operates 13 dispensaries and cultivation and manufacturing facilities in the state, pending acquisitions will add an additional six, strengthening its leadership position as the largest operator in the market. Most recently in Arizona, Harvest acquired the right to operate a dispensary in Casa Grande, opened Glendale's first medical dispensary, and announced the pending acquisition of control of six licenses from Devine Hunter, Inc.

 

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

 

About Harvest Health & Recreation, Inc.

Headquartered in Tempe, Arizona, Harvest Health & Recreation, Inc. is 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 135 are retail locations, and more than 1,695 employees across 18 states and territories. Since 2011, the company has been committed to aggressively 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.

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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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