Harvest One Converts all Outstanding Debentures to Ordinary Shares and Maintains USD 80m Cash Position
VANCOUVER: Harvest One Cannabis Inc. (TSXV:HVT) (Harvest One or the Company) is pleased to announce that, further to the Company's news release dated February 23rd, 2018, all the outstanding debentures have been converted into common shares of Harvest One.As a result, the Company currently has 154,952,498 common shares outstanding with no debt. Harvest One has a robust cash position of approximately $80 million representing approximately $0.52 per share.
By converting our remaining debentures, our balance sheet is now completely debt free and provides us with additional interest savings, stated Andreas Gedeon, CEO of Harvest One.
Considering the recent market correction and the corresponding decline in our share price, we see our current cash position as a significant strength and are confident that the Company is well positioned to fully execute on our planned initiatives both in Canada and internationally.