VANCOUVER,
BC, June 29, 2020 /CNW/
- Harvest One Cannabis Inc. ("Harvest One" or the
"Company") (TSX-V: HVT) (OTCQX: HRVOF) is pleased to advise
that it has entered into an agreement with MMJ Group Holdings
limited ("MMJ") dated June 29,
2020, pursuant to which MMJ has agreed to defer the
repayment of its secured loan to Harvest One in the amount of
$2.0 million (the "Loan") until the
earlier of: (i) August 31, 2020; and
(ii) the closing or termination of the previously announced sale of
United Greeneries' licensed cannabis cultivation and processing
businesses located in Duncan, British
Columbia. MMJ is the largest shareholder of the Company
holding approximately 26% of the issued and outstanding shares of
the Company.
Andrew Bayfield, Chief
Executive Officer of Harvest One, stated: "We appreciate the
commitment and support that MMJ continues to provide to Harvest One
as we continue to execute on our Strategic Review."
About Harvest One
Harvest One is a global company that develops and
distributes premium health, wellness and self-care products with a
market focus on sleep, pain, and anxiety. Harvest One is a uniquely
positioned company in the cannabis space with a focus on infused
and non-infused consumer packaged goods. Harvest One owns and
operates three subsidiaries; Satipharm (medical and
nutraceutical); Dream Water Global, and Delivra (consumer); as well
as a controlling interest in Greenbelt Greenhouse. For more
information, please visit www.harvestone.com.
Cautionary Note Regarding Forward-Looking
Statements
Certain statements contained in
this press release constitute forward-looking information. These
statements relate to future events or future performance about
Harvest One and its business and operations, which include, among
other things, statements with respect to the Company's Strategic
Review initiatives, its corporate strategy moving forward, and
future opportunities available for the Company. The use of any of
the words "could", "intend", "expect", "believe", "will",
"projected", "estimated" and similar expressions and statements
relating to matters that are not historical facts are intended to
identify forward-looking information and are based on the Company's
current belief or assumptions as to the outcome and timing of such
future events. Actual future results may differ materially.
The forward-looking information contained in this press release is
made as of the date hereof, and the Company is not obligated to
update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as
required by applicable securities laws. Because of the risks,
uncertainties and assumptions contained herein, investors should
not place undue reliance on forward-looking information. The
foregoing statements expressly qualify any forward-looking
information contained herein.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
SOURCE Harvest One Cannabis Inc.