|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||2.2000 - 2.3500|
|52 Week Range||2.0300 - 10.8500|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||8.16|
Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced the acquisition of Arizona Natural Selections, including the company's four vertical medical licenses in Arizona for a non-material undisclosed amount of stock. With this acquisition Harvest owns and operates 14 medical dispensaries, four cultivation facilities, and three processing facilities in its home state of Arizona, a total of 15 vertical licenses. On a pro forma basis, including pending acquisitions, Harvest has a total of 22 vertical licenses in Arizona.
PHOENIX , Feb. 17, 2020 /CNW/ -- Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced the opening of a dispensary in Little Rock, Arkansas . The licensee, Natural State Wellness Dispensary, was inspected and authorized to commence operation by the Arkansas Alcoholic Beverage Control Division ("ABC"). Harvest has been authorized to operate the facility as Harvest House of Cannabis by the Arkansas Medical Marijuana Commission.
While the stock market is still focused on the large Canadian cannabis LPs listed on major U.S. stock exchanges, several U.S. multi-state operators (MSOs) are set to shock the market with industry leading positions. These companies are set to combat the Canadians for the largest operations without the help of major investments or even Federal approval of cannabis.Both Canopy Growth and Aurora Cannabis, which grab the vast majority of investor headlines, are set to generate quarterly revenues in the $60 million to $80 million range for the December quarter. Yet, some of the MSOs are set to blow past these numbers.The U.S. MSOs operate in the largest cannabis market in the world, which forecast to derive greater than 50% of the global market, at least through 2023. While the global cannabis market is expected to grow from an estimate of $24.4 billion in 2019 to $52.5 billion in 2023, the U.S. market alone is forecast to more than double from $12.5 billion last year to $25.7 billion in 2023.The U.S. market is forecast to account for nearly 53% of the global cannabis market in four years making the opportunity to focus on U.S. alone the best opportunity for a cannabis company to profit.We’ve delved into these three U.S. MSOs with operations set to shock the world with their scale and size. Using TipRanks’ Stock Comparison tool, we lined up the three alongside each other to give us an idea of what the Street thinks is in store for the trio in the year ahead.Curaleaf (CURLF)The market virtually ignored Curaleaf finally closing the acquisition of Select brands from Cura Partners last week. The deal provides an extensive wholesale distribution system for the Select brand products in California and other western states.With the regulators signing off on the deal finally, investors will see far less risk to the investment story and the likelihood of closing the crucial Grassroots deal to gain access to Illinois. The state of Illinois just announced the first month of recreational sales reached nearly $40 million and Grassroots is a major part of the growth story in that key state.In the prior quarter, Curaleaf reported pro-forma revenues of $129 million or the equivalent of C$172 million. If they were a Canadian LP, the stock valuation would far exceed the Canadian stocks versus the current projected market valuation of only $4.7 billion.In addition, Beacon Securities analyst Russell Stanley recently predicted Curaleaf would reach annual sales of $2.1 billion in 2021 with EBITDA profits of $899 million based on 42% margins. To place these numbers in perspective, analysts have Canopy Growth with an $8 billion market cap not topping $1 billion in sales until FY22 ending in March.The company is in line to have operations in 19 states with licenses for 131 dispensaries and 1,150 wholesale partners. In addition, the company has a massive 1.4 million square feet of cultivation capacity with the ability to expand to 2.3 million square feet.TipRanks’ data shows a bullish camp backing this MSO. The ‘Strong Buy’ stock has amassed 6 ‘buy’ ratings in the last three months, with just one analyst playing it safe with a hold rating. The 12-month average price target stands tall at $8.43, marking over 30% in return potential for the stock. (See Curaleaf's price targets and analyst ratings on TipRanks)Green Thumb (GTBIF) Green Thumb Industries isn’t a household name in the cannabis space or busy making large-scale deals, yet the company is targeting December quarter revenues of $75 million or the equivalent of nearly C$100 million. The stock only has a market cap of $2 billion when Canadian companies generating half those revenues top this market valuation.In the last quarter, Green Thumb generated revenues of $68 million while the company will now benefit substantially from the legalization of adult-use cannabis in Illinois. At the end of January, the company opened the seventh Rise store in Illinois and 41st in the country.The company is based in Chicago so the Illinois market should provide a big boost to the hometown company, but Green Thumb has operations far beyond Illinois. The company has licenses for 96 retail locations in 12 U.S. markets with 13 manufacturing facilities.Analysts forecast 2020 revenues topping $460 million placing the company on par with estimates for the Canadian cannabis giants.The analyst consensus from TipRanks tells a very similar story. Green Thumb has received 6 “buy” ratings in the last three months, with no holds or sells – a clear sign that analysts are impressed with the company’s potential. Shares sell for $8.17, and the average price target of $18.72 gives the stock an eye-opening 130% upside. (See Green Thumb's price targets and analyst ratings on TipRanks)Harvest Health & Recreation (HRVSF)Harvest Health & Recreation is another wild-card stock depending highly on acquisitions to top the large Canadian companies. The company has revenue targets approaching $1 billion in 2020 while analysts have revenue estimates reaching $1 billion in 2021. Either way, the MSO becomes a very large cannabis company in the next year or so.For Q3, the company reported pro-forma revenues of $95 million. Analysts have Q4 revenue targets at only $41 million due to acquisitions not closing. Harvest Health is reporting adjusted EBITDA losses, but the company expects to become EBITDA positive after closing the pending deals in 2020. The cannabis company projects 10% EBITDA margins reaching 20% margins in 2020.The company has a lawsuit with pending acquisition target Falcon International causing a cloudier view of the stock due to the $50 million breakup fee, but Harvest Health has other deals in the work including the recently announced deal for Have a Heart CC. The deal includes 11 operating dispensaries in California, Washington and Iowa and licenses for another seven locations in California.The MSO is positioned for operations in 13 states with over 130 retail locations and 80 manufacturing sites. The company has missed out on the Illinois recreational legalization, but Harvest Health is positioned for other markets like Arizona and Florida legalizing recreational cannabis use.Harvest Health projects having 487 million shares outstanding after mergers close providing a fully diluted market valuation of below $1.5 billion with the legitimate targets of reaching the $1 billion revenue level prior to the large Canadian cannabis stocks.At just $2.53, Harvest Health shares are another bargain for return-minded investors. The stock’s $10.17 average price target implies over 300% upside, and the analyst consensus of Strong Buy is based on just four ratings, which were given in the past three months. (See Harvest Health's stock-price forecast on TipRanks)
Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced that key members of senior leadership, Co-Executive Chairman Jason Vedadi, CEO Steve White, and Operational Leader Joe Sai, have voluntarily surrendered a total of 2.4 million equity options to Harvest for redistribution to eligible employees throughout the company. The three senior leaders will not receive any consideration from Harvest.
Falcon International Corp. announced that on Friday, January 17, 2020 it moved to dismiss the recent complaint filed against it by Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) and certain of its affiliates for lack of jurisdiction. As more fully set forth in the motion, Falcon has the right pursuant to the terms and conditions of its heavily negotiated merger agreement to require Harvest to pay Falcon a cash breakup fee in the amount of US$50.0 million. In addition, amounts previously funded by Harvest to Falcon are convertible into Falcon equity at Harvest's or Falcon's option and, accordingly, are unlikely to be paid. Falcon expects that it will prevail in defending the matters set forth in Harvest's complaint and that it will be successful in enforcing its rights against Harvest as set forth in the merger agreement and related documents.
PHOENIX , Jan. 20, 2020 /CNW/ -- Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced a strategic relationship with Harvest of Battle Creek , a new provisioning center in Michigan . The new partnership continues Harvest's successful expansion into new markets and demonstrates the company's commitment to increasing patients' and customers' access to best-in-class medical marijuana experiences.
Harvest Health & Recreation (CSE: HARV) (OTCQX: HRVSF) has announced that it is moving into the next stage in the process to acquire Interurban Capital Group, the owner and operator of Have a Heart CC. The parties have reached a stage that requires disclosure, according to Harvest statement. Preliminary terms suggests an acquisition price of approximately […]The post Harvest Health & Recreation to Acquire Interurban appeared first on Market Exclusive.
Harvest Health & Recreation Inc (CSE: HARV) (OTC: HRVSF ), a vertically integrated cannabis company, said Monday that it is in negotiations to acquire Interurban Capital Group Inc, the owner and operator ...
PHOENIX , Jan. 7, 2020 /CNW/ -- Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced that yesterday Harvest filed suit against Falcon International, Inc. ("Falcon") requesting termination and rescission of the Merger Agreement ("Transaction") and return of money Harvest paid to Falcon under the Merger Agreement. As detailed in the Complaint, filed in U.S. Federal Court, District of Arizona , Harvest alleges that Falcon has failed to meet its legal obligations in multiple ways, including the failure to provide auditable financial records, which precludes Harvest from moving forward with the Transaction.
Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced that negotiations to acquire Interurban Capital Group, Inc., the owner and operator of Have a Heart CC ("Have a Heart"), have reached a stage that require disclosure. Preliminary terms contemplate an acquisition price of approximately $87.5 million in Harvest stock and assumption of debt convertible into 205,594 multiple voting shares of Harvest stock, subject to applicable Canadian securities laws. Have a Heart assets include 11 operating dispensaries in California, Washington and Iowa and licenses for seven retail locations in California.
PHOENIX , Jan. 6, 2020 /CNW/ -- Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., has hired Ron Goodson as Chief Operating Officer ("COO"), effective immediately. An executive with more than three decades in the food, beverage and consumer goods industry, Goodson will enhance Harvest's capabilities to scale its operations in key markets nationwide and to drive profitable revenue goals. Goodson will report to Harvest CEO Steve White and replaces outgoing COO John Cochran .
The cannabis sector has run into major liquidity issues with the lack of access to the banking system in the U.S. and market issues in Canada. In the process, the market has seen a substantial decline in mergers with a shift in deals towards stock-for-stock ones. Several companies set to close big U.S. deals could stand out in a sector where competitors can’t merge to compete on scale.According to Viridian Capital Advisors, the cannabis sector ended 2019 at a crawl. Capital raises were near non-existent with only 2 for the week ending December 13 and no M&A activity during the week. In the prior year period, 7 capital raises occurred.For the year, 2019 cannabis M&A activity saw 293 deals down from 311 in 2018. As the below chart shows, M&A activity came to a near stop in the last few months. Earlier in the year, 10 deals were happening on a weekly basis.In a lot of cases, deals formed in 2019 were either modified to eliminate cash requirements or completely canceled. Some high-profile deals are still set to close to create leaders in the U.S. multi-state (MSO) operator space. With the opening of recreational cannabis in Illinois on January 1 and potentially additional states in 2020, several companies are set to stand apart from the market.We’ve delved into three companies set to benefit from closing large-scale mergers right as the market freezes up. According to TipRanks’ stock screener, the trio have earned a Strong Buy consensus rating from the analyst community over the past three months. Let's take a closer look:Curaleaf Holdings (CURLF)Curaleaf is still poised to become the biggest cannabis company in the world. The company remains set to close both the Select and Grassroots deals in early 2020 to set Curaleaf up for over $1 billion in pro-forma sales.The Select deal is set to close in early January setting up some positive sentiment on the stock as Curaleaf finally gets to move forward with integration. In addition, closing the deal will provide more confidence on the Grassroots deal, a deal that provides access to the potentially lucrative Illinois market.Select provides the company with access to the California wholesale market with a leading cannabis brand. The deal was modified due to market conditions placing a part of deal based on the obtainment of revenue goals.The Grassroots deal is expected to close in Q1. The deal requires a cash payment of $75 million, 109.2 million shares based on the current stock price of $6.25.In total, Curaleaf expects a business with access to 19 states with 71 retail locations open, 26 processing facilities and 21 cultivation facilities operational. The company is heading towards 131 stores along with a large wholesale distribution network with the Select brand.The stock has 464 million shares outstanding now and nearly 670 million when the two major deals are complete. The updated share count assumes 40.5 million shares will be payable to Select shareholders under the amended agreement. At the current stock price of $6.25, Curaleaf will have a fully diluted market valuation of only $4.2 billion. The stock trades at only 2.8x 2021 sales estimates of $1.5 billion.Curaleaf has earned one of the best analyst consensus ratings on the Street. Out of 8 analysts polled by TipRanks in the last 3 months, seven are bullish on Curaleaf’s prospects, with just one on the sidelines, highlighting a strong bullish backing here. With a healthy return potential of 72%, the stock’s consensus target price stands at $10.43. (See Curaleaf's price targets and analyst ratings on TipRanks)Cresco Labs (CRLBF)Cresco Labs has had some of the most dramatic shift in their acquisition plans during 2019. The company originally planned mergers with Origin House and VidaCann, but the later was canceled due to the cash component of the deal. In the process, Cresco Labs has already closed a deal to acquire the Valley Agriceutials, LLC in New York.Even the Origin House deal was modified to allow Origin House to sell 9.7 million shares at C$4.08 in order to raise gross proceeds of C$39.6 million before the deal closes. The new deal is expected to close in mid-January at an updated ratio of 0.8428 shares of Cresco Labs for each share of Origin House.In October, the company closed a deal for Valley Agriceuticals providing one of the 10 vertically integrated cannabis business licenses in the State of New York. Cresco Labs can operate one cultivation facility and four dispensaries in the state set to grow to $500 million by 2022.In addition, the Tryke Companies deal announced in September has already passed HSR Act waiting period. The company is set to close this deal in early 2020 providing access to the Arizona and Nevada markets with a combined $1.7 billion in annual sales. The deal cost $282.5 million ($55.0 million in cash) and Tryke generated $70.4 million in revenues back in 2018.Analysts estimates 2020 sales of $554 million with 2021 reaching $866 million.Overall, this cannabis player stands as a 'Strong Buy' name among Wall Street analysts. In the last three months, Cresco Labs has won six bullish recommendations. With a return potential of close to 90%, the stock's consensus price target lands at $12.23. (See Cresco Labs' stock-price forecast and analyst ratings)Harvest Health & Recreation (HRVSF)Harvest Health & Recreation is in a similar position as the other U.S MSOs. The company has several pending deals and recently renegotiated one of the deals to reduce cash payments.The biggest deal is for Verano Holdings that passed the HSR Act waiting period on December 4. In addition, the company has pending deals with Falcon, Franklin Labs and Devine Holdings after closing acquisitions with Leaf Life and Urban Greenhouse. The end result was Harvest Health only reporting Q3 revenues of $33.2 million with pro forma revenues of an incredible $95.0 million once including the numbers from all of these deals.After closing the deals, Harvest Health expects to have over 210 facilities including 130 retail locations with more than 1,700 employees across 18 states and territories. Harvest Health has a fully diluted market valuation of under $1.5 billion once the pending M&A deals are done. The large cannabis company will have ~487 million shares outstanding.The full picture of the company is probably not represented in the market mindset now. Harvest Health is still forecasting 2020 revenues between $700 million and $1,000 million with at least 20% EBITDA margins.Judging from the consensus breakdown, it has been relatively quiet when it comes to the analyst activity. Over the last three months, only 3 analysts have reviewed the cannabis stock. Three of which, however, were bullish, making the consensus a Strong Buy. On top of this, the $10.08 average price target puts the upside potential at 216%. (See Harvest Health's price targets and analyst ratings on TipRanks)
Multistate operator Harvest Health & Recreation Inc (OTC: HRVSF ) said Thursday that it has agreed to purchase a 32,000-square-foot subruban Las Vegas cultivation facility from the Cheyenne, Nevada-based ...
Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced the signing of a definitive agreement to acquire a 32,000 square foot cultivation facility in Cheyenne, Nevada, a Las Vegas suburb, from MJardin Group ("MJardin"), a cannabis management platform with extensive experience in cultivation, processing, distribution and retail. This purchase price for the transaction is $35 million and is being financed by an existing Harvest lender. The amount of $30 million was funded on December 31, 2019 and the balance of $5 million is due upon the closing of the acquisition. The transaction will provide Harvest with a best-in-class operating asset, enhancing the company's ability to achieve profitability. The completion of the acquisition is subject to, among other things, the receipt of regulatory approvals and the satisfaction or waiver of closing conditions customary for a transaction of this nature.
Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced two additions to the senior leadership team. Scott Atkison, a seasoned business and cannabis operator, joins Harvest as Co-Executive Chairman in a non-board capacity. Daniel Reiner, a seasoned business leader and serial investor joins as a special advisor to Harvest's board. Both Atkison and Reiner will bring valuable expertise, networks and skills to Harvest as it focuses on new capital markets and fundraising in 2020.
PHOENIX , Dec. 19, 2019 /CNW/ -- Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today signed a state-approved management services agreement with Maryland dispensary AmediCanna Dispensary, LLC ("AmediCanna"), located in Halethorpe, Maryland . The agreement provides Harvest with the right to operate the retail location and the option to acquire the license in the future upon state approval. This agreement advances Harvest's goal to efficiently scale while also bringing trusted cannabis experiences to customers nationwide.
Harvest Health & Recreation (CSE: HARV) (OTCQX: HRVSF) has announced the appointment of Ana Dutra and Eula Adams to its board of directors, effective immediately. Dutra is the CEO of Mandala Global Advisors, while Adams is CEO of Neuromonics Corp. "The addition of these two directors complements our vision to improve lives through the goodness […]The post Harvest Health Appoints Two CEOs to Board appeared first on Market Exclusive.