Harvest Health & Recreation Inc. (“Harvest”) (CSE: HARV, OTCQX: HRVSF), a vertically integrated cannabis company and multi-state operator in the U.S., today announced it has acquired an option to purchase all of the membership interests in an entity that owns an Arizona Adult Use Marijuana Program Establishment License.
A subsidiary of Harvest has entered into a management services agreement that allows for the development and establishment of a dispensary for adult use customers over 21 years of age until the purchase option is exercised.
“This acquisition demonstrates our commitment to growing our retail operations in our home state,” said Chief Executive Officer Steve White. “With the successful launch of recreational sales in Arizona, we were fortunate to identify this opportunity to acquire an additional dispensary license.”
Harvest operates sixteen dispensaries in Arizona and can expand to 20 locations with existing licenses and agreements. Harvest dispensaries in Arizona are located in Avondale, Casa Grande, Chandler, Cottonwood, Glendale, Guadalupe, Lake Havasu City, Mesa (two locations), Peoria, Phoenix (two locations), and Scottsdale.