Harvest Health & Recreation, the Arizona-based multistate cannabis operator, confirmed its $85.8 million plans to acquire Interurban Capital Group, owners of the Seattle-based Have a Heart dispensary company.
The company first announced its intention to acquire Have A Heart last January.
Also last January, Harvest said it was terminating its planned acquisition of Falcon International.
Meanwhile, Harvest also said its executive chairman, Jason Vedadi, resigned.
His departure is part of the company’s “ongoing efforts to create long-term shareholder value,” Harvest said in a statement.
However, Vedadi will remain at Harvest as a strategic adviser.
Current independent board member, Mark Barnard, will assume duties as chairman, Harvest said.
Harvest shares were down about 30% following the announcements.
Harvest trades on the Canadian Securities Exchange under HARV and on the over-the-counter markets as HRVSF.
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Originally posted on Harvest Health confirms $85.8 million Have A Heart cannabis deal via Cannabis Industry News
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