Vancouver, British Columbia--(Newsfile Corp. - July 26, 2021) - Harvest One Cannabis Inc. (TSXV: HVT) (OTCQB: HRVOF) ("Harvest One" or the "Company"), a uniquely positioned cannabis-infused CPG leader, announces that the Company has engaged an arm's length service provider, Jonathan Carroll (the "Consultant") to provide strategic advisory and consulting services to the Company (the "Consulting Services") for a 24-month period, subject to extension or termination in accordance with the provisions of the consulting agreement entered into relating to the Consulting Services. Mr. Carroll has vast c-suite experience in the travel industry and is an innovative leader in the corporate branding and loyalty management areas, which experience will benefit the Company by fostering growth and expanded distribution of the Company's CPG brands.
As partial consideration for the Consulting Services, the Company will grant an aggregate of 1,500,000 warrants (the "Warrants") to purchase common shares of the Company (the "Common Shares") to the Consultant as follows: (i) 300,000 Warrants following the second month of the term of the Consulting Services (the "Term"); (ii) 300,000 Warrants following the 6th month of the Term; (iii) 400,000 Warrants following the 12th month of the Term; and (iv) 500,000 Warrants upon the Company reaching certain sales targets for fiscal 2022.
Each Warrant will entitle the Consultant to one Common Share, at an exercise price equal to the greater of the: (i) Market Price (as defined under TSX Venture Exchange ("TSXV") policies) of the Common Shares on the day immediately prior to the date of issuance of the Warrants; and (ii) volume weighted average trading price of the Common Shares during the 30 full trading days immediately prior to the date of issuance of the Warrants; and will expire 24 months from the date of issuance.
In accordance with Policy 4.3 - Shares for Debt, the issuance of the Warrants for the Consulting Services is subject to approval from the TSXV. The number of Warrants and the exercise price of such Warrants for each issuance will be disclosed by way of a press release when such Warrants are issued.
About Harvest One
Harvest One is a global cannabis-infused CPG leader that develops and distributes premium health, wellness and selfcare products with a market focus on sleep and pain. Harvest One is a uniquely positioned company in the cannabis space with a focus on cannabis infused and non-infused consumer packaged goods. Harvest One owns and operates two subsidiaries; and . For more information, please visit
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates, and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements include, among other things, statements with respect to the provision of Consulting Services by the Consultant, the benefits of the Consulting Services to the Company, the issuance of the Warrants during the Term, and the approval of the issuance of the Warrants for the Consulting Services by the TSXV.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: implications of the COVID-19 pandemic on the Company's operations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the cannabis markets where the Company operates; changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; employee relations and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution, and sale of cannabis and cannabis-related products in the markets where the Company operates. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Additional information regarding this and other risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's AIF, and under the heading "Risks and Uncertainties" in the Company's Management's Discussion and Analysis dated October 28, 2020, for the year ended June 30, 2020, filed under the Company's profile on SEDAR at .
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.
Investor Relations:
Jack Tasse
Investor Relations
1-877-915-7934
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