VANCOUVER, Sept. 10, 2019 /PRNewswire/ - Harvest One Cannabis Inc. ("Harvest One" or the "Company") (TSX-V: HVT;OTCQX: HRVOF), through its wholly-owned subsidiary United Greeneries Ltd. ("United Greeneries") announces that, on September 6, 2019, it obtained an amendment to its licence from Health Canada which will allow for the sale of cannabis oil products.
Receiving a cannabis oil sales licence from Health Canada is a significant milestone for Harvest One as we prepare formulations for the next wave of cannabis products in Canada. New product development is currently at an advanced stage through licensed third-party partners and we will be launching a variety of vape and infused products when regulations come into effect later this year. The licence also enables the Company to commence initial sales of cannabis oil products to provincial and private retailers in British Columbia, Ontario, Saskatchewan and Manitoba.
"Securing our cannabis oil licence from Health Canada is another key step in the evolution of Harvest One as we get ready for the next stage of legalization" said Grant Froese, Chief Executive Officer of Harvest One. "We are looking forward to launching infused products across all of our brands including Royal High, Satipharm, Dream Water and LivRelief™."
The Company's existing Health Canada approved non-cannabis based products such as Dream Water and LivRelief™ provide a unique differentiator for Harvest One. Those existing products position the Company well to be an early entrant into the derivatives market in Canada. When legal, Harvest One will release new THC- and CBD-infused versions of these brands, which products have already been developed by our formulation team.
About Harvest One
Harvest One is a global cannabis company that develops and provides innovative health, wellness, and selfcare products to consumers and patients in regulated markets around the world. The Company's range of solutions is designed to enhance quality of life. Shareholders have significant exposure to the entire cannabis value chain through four wholly-owned subsidiaries: United Greeneries, a licensed producer; Satipharm (medical and nutraceutical); and Dream Water Global and Delivra (CPG), and a minority interest in Burb Cannabis (retail operations). For more information, please visit www.harvestone.com.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events.Actual future results may differ materially. The forward-looking information contained in this press release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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