American Cannabis Company Harvest Health & Recreation to Commence Trading on the (CSE: HARV) - RICH TV LIVE - November 14, 2018 - PHOENIX, AZ and TORONTO, ON – November 14th, 2018 – Harvest Health & Recreation Inc. (the “Company”), formerly RockBridge Resources Inc. (“RockBridge”), is pleased to announce that it has completed its previously announced business combination (the “Business Combination”) with Harvest Enterprises Inc. (“Harvest”). In connection with the Business Combination, on November 13, 2018, an affiliate of Harvest, HVST Finco (Canada) Inc. (“Harvest Finco Canada”) completed a brokered private placement offering of subscription receipts for aggregate gross proceeds in the amount of US$218,149,676 (the “Offering”). The Offering was co-led by Eight Capital, Canaccord Genuity Corp. and GMP Securities L.P. (the “Co-lead Agents”), on behalf of a syndicate of agents including Beacon Securities Limited, Cormark Securities Inc. and Haywood Securities Inc. (collectively, the “Agents”). Eight Capital acted as the sole bookrunner in connection with the Offering.
Completion of the Offering
On November 13, 2018, Harvest Finco Canada completed the Offering pursuant to which Harvest Finco Canada issued 33,305,294 subscription receipts (the “Subscription Receipts”) at a price of US$6.55 per Subscription Receipt (the equivalent of C$8.67, based on the Bank of Canada exchange rate of C$1.3241 per US$1.00 on November 13, 2018) for gross proceeds of US$218,149,676. In connection with the closing of the Business Combination, 33,305,294 Subscription Receipts issued pursuant to the Offering were automatically converted into 33,305,294 common shares in the capital of Harvest Finco Canada and then exchanged into subordinate voting shares of the Company on a one-for-one basis.
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