Serial Entrepreneur Daniel Reiner Joins as Special Advisor to the Board; Seasoned Cannabis & Business Operator Scott Atkison Joins Harvest as Co-Executive Chairman
PHOENIX, Dec. 20, 2019 /CNW/ -- Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced two additions to the senior leadership team. Scott Atkison, a seasoned business and cannabis operator, joins Harvest as Co-Executive Chairman in a non-board capacity. Daniel Reiner, a seasoned business leader and serial investor joins as a special advisor to Harvest's board. Both Atkison and Reiner will bring valuable expertise, networks and skills to Harvest as it focuses on new capital markets and fundraising in 2020.
"At Harvest's core is a commitment to increasing access to cannabis nationwide and delivering shareholder value," said Harvest Executive Chairman Jason Vedadi. "The addition of these individuals and the access to new networks of investors is crucial in order to become the most valuable cannabis company in the world. Scott and Dan have proven their ability to take well-positioned companies through great growth and have a history of successful exits."
"With best-in-class product offerings, unrivaled customer service and a growing national footprint, Harvest is well positioned to take advantage of the evolving cannabis market," said Atkison. "I look forward to bringing my years of expertise to help Harvest achieve its full potential as it continues to grow and expand its offerings."
The company will make room for Atkison on the board at its next opportunity. In their roles Reiner and Atkison will prioritize capital markets and fundraising. Harvest Executive Chairman Jason Vedadi will focus on real estate, construction efforts and investment, which will be especially important in 2020 as the company works to refine existing facilities and build new ones, and on raising sufficient capital to enable Harvest to deliver on its promises to customers, employees and shareholders alike.
Incoming co-executive chairman Scott Atkison is a veteran business operator and investor who has two successful years of experience in the cannabis industry. In 2008, he played an instrumental role in merging his family's lumber manufacturing business with a separate family-owned lumber firm to form Idaho Forest Group, one of the larger privately held lumber companies in North America. Atkison assumed the role of President and CEO of the Idaho Forest Group before he and his family sold their ownership in 2016 and formed a family office primarily focused on investing in real estate and privately held operating companies. Currently, Atkison serves on the Board of Idaho-based Mountain West Bank and has majority ownership in four cannabis retail stores in Washington State. His stores perform among the top dispensary operators in terms of revenue and profitability. Atkison began his career with KPMG and holds an MBA from Gonzaga University.
"My career has been characterized by growing companies' portfolios, securing significant sources of funding, executing on major deals and successful exits," said Reiner. "I'm excited to contribute to Harvest's mission and equip the company to achieve historic success."
Reiner is a serial entrepreneur and investor. In 2008 he co-founded Stemcentrx, combining scientific talent from leading enterprises and academic labs, a stem cell-centric philosophy and cutting-edge technologies to develop novel cancer therapies and diagnostics. AbbVie Inc. acquired Stemcentrx in a cash and stock deal worth approximately $5.8 billion. As CEO and Chairman of the Board of World Wide Packets, Reiner sold the company to Ciena for approximately $290 million in 2008. As CEO of Optical Devices Inc., Reiner oversaw the purchase of the specialty films division from Hoechst AG, merging the companies into Enhanced Imaging Technologies Inc., which he took public in 1992 and sold to Marquette Electronics for $300 million in 1993.
About Harvest Health & Recreation Inc.
Headquartered in Tempe, Arizona, Harvest Health & Recreation Inc. is a multi-state cannabis operator (MSO) and vertically-integrated cannabis company. Subject to completion of announced acquisitions, Harvest will have one of the largest footprints in the U.S., with rights to operate more than 210 facilities, of which approximately 130 are retail locations, and more than 1,700 employees across 18 states and territories. Since 2011, the company has been committed to expanding its Harvest House of Cannabis retail and wholesale presence throughout the U.S., acquiring, creating and growing leading brands for patients and consumers nationally and continuing on a path of profitable growth. Harvest's mission is to improve lives through the goodness of cannabis and is focused on its vision to become the most valuable cannabis company in the world. We hope you'll join us on our journey:https://harvesthoc.com
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 ability of Harvest to develop Harvest's brand and meet its growth objectives, the ability of Harvest to complete planned acquisitions that are accretive to it's revenue, the ability of Harvest to obtain and/or maintain licenses or other contractual rights to operate in the jurisdictions in which it operates or in which it expects or plans to operate; 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.
SOURCE Harvest Health & Recreation Inc.
For further information: Media Contact: Alex Howe, Head of Corporate Communications, [email protected]; Investor Contact: Christine Hersey, Director of Investor Relations, [email protected], http://www.harvesthoc.com