Harborside

Retail, production, and cultivation operations in California

Overview

Harborside Inc. (CSE:HBOR) is one of California’s most well-established cannabis retailers, and has played an instrumental role in making cannabis safe and accessible to customers across the state. Cofounded 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 (RTO) 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 under the symbol “HBOR”. The company has entered into a purchase agreement with Walnut Oaks, LLC doing business as (DBA) Agris Farms and has signed a binding letter of intent to acquire Lucrum Enterprises, Inc. DBA LUX.

Harborside is a California-focused cannabis company with retail, production, and cultivation operations that have generated (assuming the successful completion of the RTO and execution of accompanying merger options)  approximately $400M in cumulative sales since inception. Harborside prides itself on being a preeminent Northern California retailer and cannabis industry advocate while striving to provide its customers with a curated selection of recreational and wellness cannabis products.

Company Highlights

  • Harborside was awarded one of the first six medical cannabis licenses granted in the United States in 2006.
  • Unparalleled track record of success with cannabis retail operations and expertise gained through 12 years of operations and predicted ~$400M in cumulative sales (assuming the successful completion of the RTO and execution of accompanying merger options).
  • Recognizable retail brand co-founded by cannabis icon, Steve DeAngelo, now well-known throughout the United States and internationally.
  • Significant California market share with predicted retail operations that could command 3 percent of California’s entire retail market and 5 percent on a pro forma basis including Airfield.
  • Vertically integrated operations combining significant production capacity and retail shelf space with distribution capabilities.
  • Utilizing 30+ licenses across the value chain to leverage scale and ensure supply chain stability.
  • Focused growth strategy in leading US market (focus on California).
  • Acquisition pipeline of near-term opportunities for accretive acquisitions.

Disclaimer: INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Harborside Inc. and seek advice from a qualified investment advisor.