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Harborside Inc. Announces Closing Of First Tranche Of Pelorus Debt Financing And Provides A Business Update

Feb 10, 2022•over 3 years ago
Oakland

Description

Harborside Inc. ("Harborside", or the "Company") (CSE: HBOR), (OTCQX: HBORF), a California-focused, vertically-integrated cannabis enterprise, is pleased to announce the closing of the first tranche of its previously announced US$77.3 million debt financing (the "Roll Up Financing") with Pelorus Equity Group ("Pelorus") and to provide a business update, including with respect to the proposed acquisitions of UL Holdings Inc. ("Urbn Leaf") and LPF JV Corporation ("Loudpack") to form StateHouse Holdings ("StateHouse").

Company Information

Company

Harborside

Location

Oakland, California, United States

About

Harborside, a vertically integrated enterprise with cannabis licenses covering retail, distribution, cultivation, nursery and manufacturing, is one of the oldest and most respected cannabis companies in California. Founded in California in 2006, Harborside was awarded one of the first six medical cannabis licenses granted in the United States. Today, the company operates three major dispensaries in the San Francisco Bay Area, a dispensary in the Palm Springs area outfitted with Southern California's only cannabis drive-thru window, a dispensary in Oregon, a manufacturing facility in Oakland, California, distribution facilities in San Jose and Los Angeles, California and an integrated cultivation/production facility in Salinas, California. Harborside is a publicly listed company, trading on the Canadian Securities Exchange ("CSE") under the ticker symbol "HBOR" and the OTCQX under the ticker symbol "HBORF", and the Company continues to play an instrumental role in making cannabis safe and accessible to a broad and diverse community of California and Oregon consumers. Additional information regarding Harborside is available under Harborside's SEDAR profile at www.sedar.com.