Harvest Health & Recreation

Cannabis giant Harvest Health plans $87.5 million purchase

Harvest Health & Recreation, an Arizona-based multistate cannabis company, said Monday it is negotiating to pay $87.5 million in stock and debt assumption for Interurban Capital Group in Seattle. Interurban is the owner and operator of Seattle-based Have a Heart, which has a total of 11 dispensaries in California, Washington state and Iowa. It also […]

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Harvest agrees to halt quest for two medical cannabis licenses in Pennsylvania

Harvest Health & Recreation, an Arizona-based multistate cannabis company, reached an agreement with Pennsylvania regulators to drop two permits for affiliated medical marijuana companies it was pursuing in the state. Harvest no longer will pursue permits for Harvest of Northwest PA and Harvest of North Central PA. The company also will not operate the two facilities […]

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Harvest Health & Recreation reports improved marijuana revenue, net quarter loss

Arizona-based Harvest Health & Recreation, a major multistate operator, reported revenue of $26.6 million for the second quarter, a 153% jump from the $10.5 million booked in the same period last year. Net loss for the second quarter, ending June 30, totaled $20.6 million compared with net income of $2.83 million for the same period […]

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What medical cannabis firms might learn from Harvest’s compliance conundrums

Harvest Health & Recreation is in high-stakes clashes with medical marijuana regulators in Pennsylvania and Ohio, and the disputes could potentially offer other MMJ firms cautionary lessons around the necessity to maintain extremely pristine regulatory compliance in state-legal markets. At stake for Harvest are more than a dozen dispensary, processing and cultivation licenses in the […]

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Harvest working to resolve medical marijuana ownership dispute in Ohio

Harvest Health & Recreation is working with Ohio regulators to resolve ownership questions that put three cannabis dispensaries in limbo and the Arizona company’s cultivation facility in the state under scrutiny. The issues are in addition to those that Harvest is working on in Pennsylvania, where regulators revoked a license to a growing operation Harvest […]

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Harvest Health secures $225 million loan to boost marijuana expansion

Harvest Health & Recreation, a Phoenix-based multistate cannabis operator, secured up to a $225 million loan to help accelerate growth. The loan, to be structured in three $75 million tranches, is backed by Miami-based Torian Capital Partners. Harvest said the proceeds will be used for:  Working capital.  Strategic acquisitions.  General corporate purposes. The loan will […]

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Harvest wants to regain Pennsylvania medical marijuana license

Arizona-based Harvest Health & Recreation said it will challenge the decision by Pennsylvania regulators to revoke the license of a medical cannabis cultivation operation it recently acquired. Regulators refused to renew the permit of Agrimed Industries one month after a surprise state inspection found numerous violations, including nonfunctioning security cameras and the lack of records […]

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Antitrust issues weigh on US cannabis stocks, but is it enough to unravel deals?

The U.S. cannabis industry has seen billions of dollars of acquisitions in recent months, attracting scrutiny from federal trustbusters examining whether planned purchases could quash competition in the emerging marijuana industry. The U.S. Department of Justice’s review of the deals – including those involving Chicago-based Cresco Labs (CSE: CL; OTC: CRLBF) and Arizona-based Harvest Health & Recreation (CSE: HARV; OTC: […]

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Utah selects medical cannabis growers, including out-of-state firms

Utah on Friday awarded eight medical marijuana cultivation licenses to a mix of local and out-of-state businesses. That’s two short of the 10 growers allowed under state law, but regulators are hoping to ensure a supply-and-demand balance. “The decision to only award eight licenses was made to avoid an oversupply of product, while still maintaining a […]

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Deal Watch: Big players are behind marijuana M&A deals

Last week wasn’t the busiest for completed M&A deals in the cannabis industry, but some notable transactions were concluded – including one involving a well-established multistate operator (MSO) and another a relatively new but fast-emerging player on the scene.

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Harvest beefs up portfolio by buying another Arizona medical marijuana dispensary

Harvest Health & Recreation, a vertically integrated cannabis company with a market cap of roughly $1.7 billion, has grown its already large footprint in Arizona with the acquisition of another medical marijuana dispensary. Harvest, based in Tempe, Arizona, purchased Leaf Life for an undisclosed amount, but the acquisition includes a stock component. Leaf Life becomes the […]

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