Tempe cannabis firm expects more than $67M from sale of California assets

By Jeff Gifford | Phoenix Business Journal

Harvest Health & Recreation Inc. says it will pocket $61.5 million in stock and cash after completing the initial closing of its divestment of assets in California, with another $6 million expected after a second closing.

The Tempe-based medical marijuana company will receive $1.5 million in cash and $60 million in Series A preferred stock in Hightimes Holding Co., which is buying 13 planned and operational dispensaries in California from Harvest Health. The second closing will cover two of the planned dispensaries for $6 million in Series A preferred stock from Hightimes.

Read the full subscription story from the Phoenix Business Journal.

Share this!

Additional Articles

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories