17:54:46 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Harvest One Cannabis Inc
Symbol HVT
Shares Issued 215,079,486
Close 2020-04-03 C$ 0.09
Market Cap C$ 19,357,154
Recent Sedar Documents

Harvest One issues 17.08 million warrants to MMJ

2020-04-03 18:36 ET - News Release

Mr. Colin Clancy reports

HARVEST ONE ANNOUNCES ISSUANCE OF WARRANTS

Harvest One Cannabis Inc., further to its press release dated March 11, 2020, has issued 17,083,333 common share purchase warrants to MMJ Group Holdings Ltd. as consideration for agreeing to extend the maturity date of a secured loan agreement with MMJ, an insider of the company, for a loan in the amount of $2-million, issued on Jan. 10, 2020.

Each warrant will entitle the holder to purchase one common share in the capital of the company at a price of six cents at any time until the earlier of: (i) the date of the further extension or renewal of the loan; and (ii) April 3, 2022.

The issuance of warrants to insiders is considered related party transactions within the meaning of Exchange Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The company is relying on exemptions from the formal valuation and minority shareholder approval requirements in sections 5.5(g) and 5.7(1)(e) of MI 61-101 in respect of such insider participation on the basis of financial hardship.

The common shares issuable upon the exercise of the warrants will be subject to a four-month-and-a-day hold period expiring on Aug. 4, 2020, in accordance with applicable Canadian securities law.

About Harvest One Cannabis Inc.

Harvest One is a global cannabis company that develops and provides innovative lifestyle and wellness products to consumers and patients in regulated markets around the world. The company's range of lifestyle solutions is designed to enhance quality of life. Shareholders have significant exposure to a broad cannabis value chain through its wholly owned subsidiaries: United Greeneries, a licensed producer; Satipharm (medical and nutraceutical); and Dream Water Global and Delivra (consumer); as well as a controlling interest in Greenbelt Greenhouse.

We seek Safe Harbor.

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