Harvest Says Goodbye Utah – Whats up Miami

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Harvest Gets A Lift From Property Sales, Arizona Adult Use Market

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Harvest Well being & Recreation Inc.  (OTCQX: HRVSF) is finished with Utah and increasing its Florida footprint. Harvest stated it had accomplished the divestiture of its cultivation and processing operations in Utah for what it described as an immaterial amount of money. The corporate stated {that a} native operator purchased the cultivation and processing operations situated in Ogden, Utah. Following the sale, Harvest now not has operations in Utah.

“We’re happy to have accomplished this divestiture as a part of our strategic plan,” stated Chief Government Officer Steve White. “We’ll proceed to allocate assets to progress alternatives in our core markets.” With that stated, Harvest then introduced the opening of a brand new medical dispensary in South Miami Seaside, Florida.

“We’re thrilled to open our eleventh Harvest location in Florida, one of many fastest-growing medical markets within the U.S.,” stated White. “We sit up for serving sufferers and offering high quality merchandise at this new location in certainly one of our core markets.”

Further Harvest dispensaries in Florida are situated in GainesvilleJacksonvilleKissimmeeLehigh AcresLongwoodNorth Miami SeasideNorth Port, Olympia Heights, Tallahassee, and West Palm Seaside.

Trulieve Shopping for Harvest

Trulieve introduced in Might that it was shopping for  Harvest Well being in a deal valued at roughly $2.1 billion based mostly on the closing worth of the Trulieve Shares on Might 7, 2021. The mixed companies may have operations in 11 states, comprised of twenty-two cultivation and processing services with a complete capability of three.1 million sq. ft, and 126 dispensaries serving each the medical and adult-use leisure cannabis markets. In June, Trulieve stated that the 30-day ready interval underneath the Hart-Scott-Rodino Antitrust Enhancements Act of 1976 had handed.

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Trulieve CEO Kim Rivers stated, “Completion of the HSR milestone is thrilling and we’ll proceed to work towards closing this strategic transaction. Upon closing, we anticipate to leverage the experience and assets of the mixed firms to comprehend significant scale and enlargement for years to return.”

The Harvest shareholder vote is predicted to happen within the third quarter of 2021. Each firms say they proceed to work towards acquiring all required regulatory approvals.

 


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