Harvest Will Be Awarded Ohio Medical Marijuana Processor License

Company becomes the first multi-state operator to achieve vertical integration in the Buckeye state.

PHOENIX--()--Harvest Health & Recreation Inc. (CSE: HARV), a vertically integrated public cannabis company with one of the largest footprints in the U.S., announced the Ohio Department of Commerce, pending background checks, will award the company a provisional processor license under Ohio’s Medical Marijuana Control Program. The application scored among the top 26 after being judged on a series of standards and merits, including relevant experience across multiple verticals in the cannabis space, prior demonstration of compliance, financial viability and proposed community benefits. With the win, Harvest will hold a processing license, a tier 1 cultivation license and three retail dispensary licenses in Ohio, making it the only multi-state operator to be organically vertically integrated in the state. Harvest holds over 60 licenses nationally, expanding its national footprint across 12 U.S. states.

“Ohio has an important long-term role in the cannabis industry,” said Steve White, founder and CEO of Harvest. “It has the seventh largest state economy, a skilled manufacturing workforce and a growing patient count. We are thrilled to open fully vertical operations, and look forward to contributing to the Buckeye economy for years to come. This is a solid win for us coming on the heels of big retail victories in Pennsylvania and Santa Monica, California.”

Founded in 2011 in Arizona, Harvest is now one of the only consistently profitable, vertically integrated cannabis companies in the U.S. The company brings together in-house cultivation, manufacturing, retail facilities, construction, real estate and technologies, backed by experienced finance, compliance, operations, real estate, human resources, marketing and legal teams, who have a proven and trusted track record in writing applications and working in the cannabis industry. With more than 525 employees, Harvest plans to continue to grow its operations across the U.S. throughout 2019 and beyond.

An international leader in the cannabis industry, Harvest holds itself to the most stringent health, safety and quality standards in the industry when it comes to the growth, production and sale of cannabis medicines and products for consumers. Since its founding, the company has donated more than $500,000 to veterans, seniors, children, patients-in-need and other charitable recipients.

About Harvest Health & Recreation, Inc.:

Harvest Health & Recreation Inc. is one of the first consistently profitable, vertically integrated cannabis companies with one of the largest footprints in the U.S. Harvest’s complete vertical solution includes industry-leading cultivation, manufacturing, and retail facilities, construction, real estate, technology, operational, and brand building expertise — leveraging in-house legal, HR and marketing teams, along with proven experts in writing and winning state-based applications. The company has more than 525 employees with proven experience, expertise and knowledge of in-house best practices that are drawn upon whenever Harvest enters new markets. Harvest’s executive team is comprised of leaders in finance, compliance, real estate and operations. Since its founding in 2011, Harvest has grown its footprint every year and now has more than 60 licenses in 12 states, with planned expansion into additional states by 2020. Harvest shares timely updates and releases as part of its regular course of business with the media and the interested public. For more information, visit: https://www.harvestinc.com/.

Forward-looking Statements

This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Harvest with respect to future business activities. Forward-looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" or similar expressions and include information regarding: (i) expectations regarding the size of the U.S. cannabis market, (ii) the ability of the Company to successfully achieve its business objectives, (iii) plans for expansion of Harvest, and (iv) expectations for other economic, business, and/or competitive factors.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflects Harvest management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Harvest believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the potential impact of an announcement of a going public transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; and in particular in the ability of the Company to raise debt and equity capital in the amounts and at the costs that it expects; adverse changes in the public perception of cannabis; decreases in the prevailing prices for cannabis and cannabis products in the markets that the Company operates in; adverse changes in applicable laws; or adverse changes in the application or enforcement of current laws, including those related to taxation; the inability to locate and acquire suitable companies, properties and assets necessary to execute on the Company's business plans; and increasing costs of compliance with extensive government regulation. This forward-looking information may be affected by risks and uncertainties in the business of Harvest and market conditions.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Harvest has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Harvest does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Contacts

Ellen Mellody, Powerplant Global Strategies
570-209-2947
ellen@powerplantstrategies.com

Release Summary

Harvest Will Be Awarded an Ohio Medical Marijuana Processor License

$Cashtags

Contacts

Ellen Mellody, Powerplant Global Strategies
570-209-2947
ellen@powerplantstrategies.com