Harvest health & recreation to acquire Verano for $850M
Mar. 11, 2019 10:08 AM ET|About: Harvest Health & Recreati... (HRVSF)|By: Vandana Singh, SA News Editor
Harvest Health & Recreation (OTCQX:HRVSF) enters into a binding agreement to acquire Verano, one of the largest privately held multi-state, vertically integrated licensed operator of cannabis facilities.
All-stock transaction is valued at ~$850M, that is expected to complete by 1H 2019.
Post the completion, Verano will have its ~$3.2M long term debt in place, and Harvest will hold licenses that will allow it to operate up to 200 facilities in 16 states, including 123 retail dispensaries.
Harvest and Verano have agreed to a mutual termination fee of $20M.
https://seekingalpha.com/news/3441482-harvest...erano-850m
Mar. 11, 2019 10:08 AM ET|About: Harvest Health & Recreati... (HRVSF)|By: Vandana Singh, SA News Editor
Harvest Health & Recreation (OTCQX:HRVSF) enters into a binding agreement to acquire Verano, one of the largest privately held multi-state, vertically integrated licensed operator of cannabis facilities.
All-stock transaction is valued at ~$850M, that is expected to complete by 1H 2019.
Post the completion, Verano will have its ~$3.2M long term debt in place, and Harvest will hold licenses that will allow it to operate up to 200 facilities in 16 states, including 123 retail dispensaries.
Harvest and Verano have agreed to a mutual termination fee of $20M.
https://seekingalpha.com/news/3441482-harvest...erano-850m
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