Harvest One to Raise $25 Million Selling Units at $1.82

    Harvest One Announces $25 Million Bought Short Form Prospectus Offering of Units
    VANCOUVER, BRITISH COLUMBIA–(Marketwired – Jan. 9, 2018) – Harvest One Cannabis Inc. (TSX VENTURE: HVST) (“Harvest One” or the “Company”) is pleased to announce that is has entered into an agreement with Mackie Research Capital Corporation (as the lead underwriter and sole bookrunner, “Mackie Research”), on its own behalf and behalf of a syndicate of Underwriters (collectively, the “Underwriters”), to complete a $25,000,000 short form prospectus offering (the “Offering”) of units (“Units”) of the Company on a bought deal basis, at a price of $1.82 per Unit (the “Offering Price”).

    Under the Offering, each Unit will consist of one common share (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant shall entitle the holder thereof to purchase one Common Share (a “Warrant Share”) at an exercise price of $2.30 per Warrant Share at any time up to 24 months following the closing of the Offering.

    The Company has also granted the Underwriters an option (the “Over-Allotment Option”) exercisable in whole or in part, at any time up to 30 days after the closing of the Offering to purchase up to an additional 15% of the number of Units issued pursuant to the Offering at the Offering Price. If the Over-Allotment Option is exercised in its entirety, the aggregate gross proceeds of the Offering will be $28,750,000.

    The Company intends to use the net proceeds of the Offering for the expansion of strategic indoor growing facilities, further development of its Satipharm GelPel products, and for working capital and general corporate purposes. Closing of the Offering is expected to occur on or about January 31, 2018. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange to list the Common Shares, Warrants and Warrant Shares issuable under the Offering.

    The Units will be offered by way of a short-form prospectus to be filed in those provinces of Canada (other than Québec) as the Underwriters may designate, pursuant to National Instrument 44-101 ? Short Form Prospectus Distributions, may be offered in the United States on a private placement basis pursuant to appropriate exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and may be offered in such other jurisdictions and the Company and Mackie Research may agree, acting reasonably.

    About Harvest One

    Harvest One controls operations across the entire cannabis value chain through two business units, with Harvest One serving as the umbrella company over horticultural arm United Greeneries and medical arm Satipharm AG. Each business is strategically located in favorable jurisdictions with supportive regulatory frameworks in place. United Greeneries has received a Canadian medicinal cannabis cultivation and sales license, making Harvest One one of only a few companies globally with the capacity to commercially cultivate and sell cannabis in a federally regulated environment.