Harvest One Cannabis Inc. (OTCMKTS:HRVOF) has announced that it has signed an agreement to be a Shoppers Drug Mart medical cannabis supplier through its subsidiary United Greeneries Ltd. The company has also indicated that they have signed a definitive agreement for the acquisition of Delivra’s issued and outstanding common stock. According to the agreement, stockholders of Delivra will get 0.595 Harvest One common shares in exchange for each Delivra share.
Supply to Shoppers Drug Mart
The terms of the supply agreement indicate that the company will supply branded Satipharm medical cannabis products to Shoppers Drug Mart. Sale of the products shall be done online since Canadian regulations do not allow retail pharmacies to sell medical cannabis. The batch that the company will supply will be the first Satipharm branded medical cannabis products to be available in Canada.
Harvest one is currently working with Shoppers Drug Mart to help their customers make informed decisions about the purchase of Satipharm branded cannabis products. Satipharm is available in a range of products that are colour coded to show their position from the high SatiWhite THC to the high SatiPurple CBD. Following the launch, United Greeneries will equally produce and distribute a variety of SatiSilver as well as SatiGreen.
Grant Froese, the CEO indicated that the agreement was a significant milestone for the company in achi9eving its objective of being a vertically integrated medical cannabis, wellness and health company.
Acquisition of Delivra
The purchase of Delivra is an expansion of Harvest One’s strategy in the provision of adequate medical cannabis products for wellness and health of people. The company also acquired LivRelief which is a Delivra brand in a bid to position itself in Canada when infused cannabis products get legalised in the fall of this year.
The CEO said that the acquisition emphasizes the company’s objective of becoming a leading health and wellness brand. He added that LivRelief which is already on shelves in the country would give the company a head start for cannabis-infused products which is an excellent addition to the Satipharm CBD GelPell Capsules and dream water already in the market.