VANCOUVER, June 28, 2019 /CNW/ - Harvest One Cannabis Inc. ("Harvest One") (TSXV: HVT; OTCQX: HRVOF) and Delivra Corp. ("Delivra") (TSXV: DVA) today jointly provided an update on their previously-announced transaction whereby, among other things, Harvest One would acquire all of the issued and outstanding shares of Delivra and each shareholder of Delivra would be entitled to receive 0.595 of a common share of Harvest One in exchange for each Delivra share held (the "Transaction").
With reference to Delivra's press release dated May 28, 2019, subsequent to Delivra obtaining requisite shareholder approval with Delivra shareholders voting 99.98% in favour of the Transaction, Delivra sought and obtained a final order by the Ontario Superior Court of Justice for the Transaction. Since then, Delivra and Harvest One have continued to work together to complete the Transaction in accordance with the terms of the arrangement agreement dated March 3, 2019 between the parties (a copy of which has been filed on SEDAR at www.sedar.com and described in Delivra's management information circular dated April 18, 2019, also available on SEDAR).
Harvest One and Delivra jointly advised that the Transaction is now scheduled to be completed on July 3, 2019.
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 the entire cannabis value chain through three wholly-owned subsidiaries: United Greeneries, a Licensed Producer; Satipharm (medical and nutraceutical); and Dream Water Global (consumer), and a minority interest in Burb Cannabis (retail operations). For more information, please visit www.harvestone.com.
ABOUT DELIVRA CORP.
Delivra Corp. is a specialty biotechnology company having a proprietary transdermal delivery system platform that can shuttle pharmaceutical and natural molecules through the skin, in a targeted manner. Delivra manufactures and sells a growing line of natural topical creams with the proprietary transdermal delivery system platform under the LivReliefTM brand, for conditions such as joint and muscle pain, nerve pain, varicose veins, wound healing, and sports performance. LivReliefTM products are available in over 6,000 retail locations, including pharmacies, grocery chains, and independent health food stores across Canada, including, but not limited to, Shoppers Drug Mart, Walmart, Loblaw, Rexall, Pharmasave, London Drugs, and on-line at www.livrelief.com. In parallel with its consumer products business, Delivra also has a mandate to license its patent-pending, proprietary transdermal delivery technology platform to pharmaceutical companies globally, for the repurposing of pharmaceutical molecules transdermally to treat a broad range of conditions, along with licensing its over-the-counter products globally. Delivra is headquartered in Hamilton, Ontario and has a research and development laboratory in Charlottetown, PEI.
Cautionary Note Regarding Forward-Looking Statements
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.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accept responsibility for the adequacy or accuracy of this release.
SOURCE Harvest One Cannabis Inc.
For further information: Colin Clancy, Investor Relations, firstname.lastname@example.org, 1-877-915-7934; Dr. Joseph Gabriele, Chief Executive Officer, email@example.com, 905-561-5014