Harborside Inc. workout routines merger alternative to obtain 100% ownership of Individuals Mutual Collective Corporation, owner of iconic Harborside Oakland cannabis dispensary


OAKLAND, Calif. and TORONTO, Aug. 01, 2019 (GLOBE NEWSWIRE) — Harborside Inc. (“Harborside” or the “Company”) (CSE: HBOR), a CSE-listed vertically integrated cannabis enterprise, is pleased to announce currently that it has closed its previously announced acquisition of a 100% ownership interest in Individuals Mutual Collective Corporation  (“PMACC”). As a outcome of the exercising of this alternative to obtain PMACC (the “Option”), Harborside also acquired, indirectly, a 50% ownership interest in San Leandro Wellness Options, Inc., which owns the entitlement on a retail dispensary situated in San Leandro, California (“Harborside San Leandro”). Harborside San Leandro is at the moment below building and is anticipated to commence cannabis associated activities in the course of the second half of 2019.

“The exercising of this alternative strengthens Harborside’s position as a preeminent cannabis retailer and as a single of the most trusted names in California’s huge cannabis market place,” mentioned Andrew Berman, Harborside’s CEO.

About Harborside:

Harborside Inc. is a single of the oldest, biggest and most respected cannabis retailers in the planet, operating two of the significant dispensaries in the San Francisco Bay Location and a cultivation facility in Salinas, California. Harborside has played an instrumental function in generating cannabis secure and accessible to a broad and diverse neighborhood of California shoppers. Co-founded by Steve DeAngelo and dress wedding in 2006, Harborside was awarded a single of the 1st six health-related cannabis licenses granted in the United States.  Harborside is at the moment a publicly listed enterprise on the Canadian Securities Exchange trading below the ticker symbol “HBOR”.

Added Details

Added details concerning Harborside is accessible below Harborside’s SEDAR profile at www.sedar.com, which includes in Harborside’s Listing Statement dated Could 30, 2019. Added details concerning PMACC is accessible at www.shopharborside.com. Added details concerning the Solution and Harborside will be created publicly accessible in accordance with applicable securities laws. This press release shall not constitute an supply to sell or the solicitation of an supply to purchase securities.

For the most up-to-date news, activities, and media coverage, please check out the Harborside corporate site at www.investharborside.com or connect with us on LinkedInFacebook, and Twitter.

Forward-Searching Details

Specific portions of this press release include “forward-seeking information” inside the which means of applicable Canadian securities legislation, which is also referred to as “forward-seeking statements”, which may perhaps not be primarily based on historical truth. Wherever attainable, words such as “will”, “plans,” “expects,” “targets,” “continues”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “may,” “could,” “would” or may possibly, and the unfavorable of such expressions or statements that particular actions, events or final results “may,” “could,” “would,” “might” or “will” be taken, take place or be accomplished, have been applied to recognize forward-seeking details. Such forward-seeking statements incorporate, without the need of limitation, the anticipated company of PMACC and the anticipated commencement date of cannabis associated activities of Harborside San Leandro.

Forward-seeking statements should really not be study as guarantees of future events, future overall performance or final results, and will not necessarily be correct indicators of the occasions at, or by which, such events, overall performance or final results will be accomplished, if accomplished at all.  The forward-seeking statements and details are primarily based on particular crucial expectations and assumptions created by Harborside, which includes expectations and assumptions regarding PMACC and Harborside San Leandro. Even though Harborside believes that the expectations and assumptions on which such forward-seeking statements and details are primarily based are affordable, undue reliance should really not be placed on the forward-seeking statements and details for the reason that Harborside  can give no assurance that they will prove to be appropriate. By its nature, such forward-seeking details is topic to numerous dangers and uncertainties, which could bring about the actual final results and expectations to differ materially from the anticipated final results or expectations expressed. These dangers and uncertainties, incorporate, but are not restricted to, the final results of the due diligence assessment on the parties on every single other are much less than satisfactory, or the essential shareholder approvals are not obtained. Readers are cautioned not to location undue reliance on this forward-seeking details, which is provided as of the date hereof, and to not use such forward- seeking details for something other than its intended objective. Harborside, Inc. undertakes no obligation to update publicly or revise any forward-seeking details, no matter if as a outcome of new details, future events or otherwise, except as essential by law.

The CSE has neither authorized nor disapproved the contents of this news release. Neither the CSE nor its Regulation Solutions Provider (as that term is defined in the policies of the CSE) accepts duty for the adequacy or accuracy of this release.

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