Harvest One Converts all Outstanding Debentures to Ordinary Shares and Maintains $80m Cash Position
April 5, 2018
Harvest One Cannabis Inc. (TSXV:HVT) ("Harvest One" or the "Company") is pleased to announce that, further to the Company’s news release dated February 23rd, 2018, all the outstanding debentures have been converted into common shares of Harvest One. As a result, the Company currently has 154,952,498 common shares outstanding with no debt. Harvest One has a robust cash position of approximately $80 million representing approximately $0.52 per share.
“By converting our remaining debentures, our balance sheet is now completely debt free and provides us with additional interest savings," stated Andreas Gedeon, CEO of Harvest One. “Considering the recent market correction and the corresponding decline in our share price, we see our current cash position as a significant strength and are confident that the Company is well positioned to fully execute on our planned initiatives both in Canada and internationally.”
About Harvest One Cannabis Inc. (TSXV: HVT)
Harvest One is a global cannabis company focused on delivering high quality, innovative cannabis products and technology to regulated markets around the world. Our shareholders have significant exposure to the entire cannabis value chain through three business units, with Harvest One serving as the parent company over horticultural arm United Greeneries and medical arm Satipharm AG. Harvest One’s businesses are all strategically located in favourable jurisdictions with supportive regulatory frameworks in place. United Greeneries has a Canadian ACMPR cultivation and sales license, making Harvest One a unique global company with the capacity to commercially cultivate and sell medicinal grade cannabis in a federally regulated environment.
For more information about Harvest One, please contact:
+ 1 (877) 915-7934
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this press release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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