Harvest Health & Recreation, the Arizona-based multistate cannabis operator, confirmed its $85.8 million plans to acquire Interurban Capital Group, owners of the Seattle-based Have a Heart dispensary company.
Meanwhile, Harvest also announced the resignation of Jason Vedadi, its executive chairman. His departure is part of the company’s “ongoing efforts to create long-term shareholder value,” Harvest said in a news release. Vedadi will remain at Harvest as a strategic adviser, however.
Current independent board member Mark Barnard will assume duties as chairman, Harvest said.
Harvest shares were down about 30% following the announcements.
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