Harborside Inc. (“Harborside” or the “Company”) (CSE: HBOR), a California-focused, vertically integrated cannabis enterprise, today announced that it was named Best Curbside Pick-up for dispensaries by readers in East Bay Express’s Best of the East Bay 2021. In addition, Harborside also placed as a top 3 finalist for the Best Cannabis Delivery category in the Desert Sun’s “Best of the Desert” 2020 competition.
In March 2020, at the onset of the pandemic, cannabis businesses were deemed essential in local California counties and allowed to stay open. To continue serving patients and customers safely, Harborside enabled curbside pick-up through their e-commerce platform (shopharborside.com) at its Oakland, San Jose and San Leandro locations. The Company’s Desert Hot Springs location also offers drive-thru service – the first in Southern California – for even more convenience. Harborside also operates home delivery services in the Oakland, Greater East Bay, Peninsula and San Jose areas. Through the implementation of these strategic initiatives, Harborside has remained fully operational throughout the pandemic to meet the significant consumer demand.
“We’re thrilled to see that our initiatives have had such a positive impact on our local communities,” said Peter Bilodeau, Interim CEO of Harborside. “The team at Harborside has worked diligently to implement alternative solutions as quickly as possible throughout this crisis to ensure continued access to our high-quality products. This recognition highlights Harborside’s ongoing dedication to supplying our patients and customers with the medicine they need in the most convenient way possible, no matter the challenges we face.”
Harborside was voted Best Cannabis Deals, Best Cannabis Dispensary and Most Deluxe Cannabis Accessories by readers In East Bay Express’ 2019 Best of the East Bay competition.
Redemption of Special SharesÂ
The Company also announced today the redemption for cancellation of all of its issued and outstanding Series B special shares in the capital of the Company (“Series B Special Shares”) and all of its issued and outstanding Series C special shares in the capital of the Company (“Series C Special Shares” and, together with the Series B Special Shares, the “Special Shares”).
The redemption for cancellation of the Special Shares was completed on February 26, 2021 (the “Redemption Date”) in accordance with the Company’s articles of amendment dated December 1, 2020 (the “Articles”). The Special Shares outstanding on the Redemption Date included: (i) Series B Special Shares convertible into a total of 275,325 subordinate voting shares in the capital of the Company (“Subordinate Voting Shares”); and (ii) Series C Special Shares convertible into a total of 336,508 Subordinate Voting Shares.
The Special Shares were redeemed at a redemption price of $0.000001 per Special Share, subject to adjustment in accordance with the Articles. No compensation was paid to any holder pursuant to the Articles, which provide that no payment shall be made and no compensation shall be provided for any payment to a holder that is less that $1.00.
