OAKLAND, Calif and TORONTO, June 06, 2019 — Harborside Inc. (formerly Lineage Grow Company Ltd.) ("Harborside", or the "Company") is pleased to announce that it has filed its listing statement (the "Listing Statement") supporting its application for listing on the Canadian Securities Exchange ("CSE"). A copy of the Listing Statement is available under the Company's profile at www.sedar.com. Trading on the CSE will begin on June 10, 2019 under the ticker symbol "HBOR".
As at May 30, 2019, the date of the Listing Statement, there were 9,668,162 subordinate voting shares of the Company ("Subordinate Voting Shares") issued and outstanding. As at the date of this release, there are 12,848,203 Subordinate Voting Shares issued and outstanding. In addition, there are 44,353,718 Subordinate Voting Shares reserved for issuance pursuant to the conversion rights attached to the multiple voting shares, class B special shares, class C special shares, and convertible securities of the Company that are issued and outstanding, but not listed.
Andrew Berman, CEO of Harborside, said, "The start of trading represents a significant milestone for Harborside, and we're grateful for the support that we've received from the CSE throughout the process. We're excited to move forward as a public company, with a vehicle that attracts growth capital from new investors, and continue maintaining Harborside's status as California's premier cannabis operator."
About Harborside Inc.
Harborside Inc. is one of the oldest, largest and most respected cannabis retailers in the world, operating two of the major dispensaries in the Bay Area in Oakland and San Jose and has played an instrumental role in making cannabis safe and accessible to a broad and diverse community of California consumers. Co-founded by Steve DeAngelo and dress wedding in 2006, Harborside was awarded one of the first six medical cannabis licenses granted in the United States. In May 2019, Harborside executed a reverse takeover with Lineage Grow Company adding two dispensaries in prominent cities in Oregon, additional cultivation, distribution and retail assets to its portfolio, and an expected public listing on the CSE. The Company has entered into a purchase agreement with Walnut Oaks, LLC d/b/a Agris Farms and has signed a binding letter of intent to acquire Lucrum Enterprises, Inc. d/b/a LUX.
Certain statements in this press release constitute forward-looking information. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the Company's future, strategy, plans, objectives, goals and targets, the development of future operations, the expected timing of listing on the CSE, and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict, including those described in the Listing Statement, a copy of which is available under the Company's SEDAR profile. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release. The Company does not undertake an obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities law.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The CSE has in any way passed upon the merits of the business of the Company neither has approved nor disapproved the contents of this news release.
Harborside Inc. Corporate: Andrew Berman, CEO Keith Li, CFO 510-610-7444 [email protected]
Media: Robert Vanisko North 6th Agency 212-334-9753 ext.112 [email protected]