Harvest Completes US$100 Million First Tranche of US$500 Million Convertible Debenture Financing
PHOENIX, May 13, 2019 –(BUSINESS WIRE)–Harvest Health Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) (“Harvest” or the “Company”), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., is pleased to announce that it has closed the first tranche of its previously announced brokered private placement of 7% unsecured convertible debentures (the “Convertible Debentures”) of the Company, at a price of US$1,000 per Convertible Debenture (the “Issue Price”) for gross proceeds of US$100,000,000. Eight Capital is acting as agent for the offering. The Company intends to use the net proceeds of the offering to fund working capital and general corporate purposes.
The Convertible Debentures have a maturity date (the “Maturity Date”) of May 9,