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.
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SOURCE Harvest One Cannabis Inc.