Harvest Health & Recreation

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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Cannabis firm Harvest Health posts spike in Q4, full-year revenue

Arizona-based Harvest Health & Recreation’s revenue more than doubled during its fourth quarter and fiscal 2018 as the multistate marijuana company continued to expand its retail and wholesale footprint and predicted further expansion this year through acquisitions. Despite the sales gains, the company recorded a net loss for the quarter of $71.1 million – which […]

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Webcast: Behind marijuana firm Harvest Health’s acquisition strategy

Arizona-based Harvest Health & Recreation has dominated recent headlines, primarily a result of its active acquisition strategy to grow into new markets. Last month, Harvest announced a record-breaking purchase of Verano Holdings and, this week, followed with a plan to acquire CannaPharmacy, a vertically integrated marijuana company operating in four Northeastern states. What’s driving Harvest’s […]

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PA regulators allege Harvest Health misrepresented its state marijuana holdings

Pennsylvania regulators are threatening to take away the medical marijuana dispensary licenses of Arizona-based Harvest Health & Recreation for allegedly misrepresenting its cannabis holdings in the state. The issue stems from claims Harvest made earlier this week when announcing the acquisition of CannaPharmacy, The (Philadelphia)  Inquirer reported Thursday. Here’s the crux of the situation: In its […]

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Harvest Health to buy CannaPharmacy, expand cannabis operations

Phoenix-based Harvest Health & Recreation agreed to acquire CannaPharmacy, a vertically integrated marijuana company operating in four Northeastern states. Terms were not disclosed, and a Harvest spokesman confirmed the deal was not material to the company. CannaPharmacy has cultivation, manufacturing and retail operations in Delaware, Maryland, New Jersey and Pennsylvania. “There is tremendous value in […]

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Chart: US-affiliated medical cannabis firms led fundraising on Canadian Securities Exchange in 2018

U.S.-affiliated medical cannabis companies dominated Canadian Securities Exchange (CSE) fundraising in 2018, raising nearly $2 billion through 50 equity-related deals. As of December 2018, 47% of the 124 cannabis-related companies trading on the CSE were based in the United States or had U.S. assets or interests. Cannabis-related companies in the life sciences sector – which […]

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