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Harvest One Announces Filing of Preliminary Short Form Prospectus in Connection with $35 Million Bought Deal Financing and Appointment of Interim COO
Author: Hailey Wahlberg  17/01/2018 - 16:56:00

Harvest One Cannabis Inc. (TSXV:HVST) (“Harvest One” or the “Company”) is pleased to announce that it has filed a preliminary short form prospectus in each of the provinces of Canada (except Quebec), and obtained a receipt from the British Columbia Securities Commission to qualify the distribution of $35,000,000 of units (“Units”) of the Company, at a price of $1.82 per Unit (the “Offering”). 

Under the Offering, each Unit will consist of common share (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant shall entitle the holder thereof to purchase one Common Share (a “Warrant Share”) at an exercise price of $2.30 per Warrant Share at any time up to 24 months following the closing of the Offering.

The Company has also granted the Underwriters an option (the “Over-Allotment Option”) exercisable in whole or in part, at any time up to 30 days after the closing of the Offering to purchase up to an additional 15% of the number of Units issued pursuant to the Offering at $1.82 per Unit. If the Over-Allotment Option is exercised in its entirety, the aggregate gross proceeds of the Offering will be $40,250,000.

Additional details regarding the Offering can be found in the news releases of the Company dated January 9, 2018.

COO Position

The Company is also pleased to announce the appointment of Nick Maltchev, previous Chief Operation Officer (“COO”) of Advanced Nutrients Ltd. (“Advanced Nutrients”), as interim COO of Harvest One. Mr. Graham Whitmarsh has moved on to pursue other opportunities.

“On behalf of our entire team and the board of directors, I would like to thank Graham for his contributions and wish him the best in the future. Nick brings a strong operations background to the COO position from his experience at Advanced Nutrients where he was instrumental in providing operational strategy and leadership” said Andreas Gedeon, President and Chief Executive Officer of Harvest. “With Nick, we will continue to be well positioned to execute on our business plan as we accelerate growth.”

Mr. Maltchev is a global executive with a passion for results and building great teams. He brings a mix of strategic thinking, deep technical knowledge and over 25 years of technology experience. He has been involved in the cannabis industry since 2004 and was an integral part of the Advanced Nutrients management team over a period of 12 years, holding several positions including information technology manager, COO and general manager. Mr. Maltchev holds a Bachelors of Business Administration, as well as designations in project management, cybersecurity and computer science. He is also currently in the process of finishing an MBA in management information systems.

About Harvest One Cannabis Inc. (TSX VENTURE:HVST)

Harvest One is a global cannabis company focused on delivering high quality, innovative cannabis products and technology to regulated markets around the world. Our shareholders have significant exposure to the entire cannabis value chain through three business units, with Harvest One serving as the parent company over horticultural arm United Greeneries and medical arm Satipharm AG. Harvest One’s businesses are all strategically located in favourable jurisdictions with supportive regulatory frameworks in place. United Greeneries has a Canadian ACMPR cultivation and sales license, making Harvest One a unique global company with the capacity to commercially cultivate and sell medicinal grade cannabis in a federally regulated environment.

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. 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. In particular, this release contains forward-looking information relating to the completion of the Offering. 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-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accept responsibility for the adequacy or accuracy of this release.

The post Harvest One Announces Filing of Preliminary Short Form Prospectus in Connection with $35 Million Bought Deal Financing and Appointment of Interim COO appeared first on Investing News Network.

Original article from investingnews.com: Harvest One Announces Filing of Preliminary Short Form Prospectus in Connection with $35 Million Bought Deal Financing and Appointment of Interim COO

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