Steven White Acquires Super Voting and Multiple Voting Shares of Harvest Health And Recreation Inc.
VANCOUVER, British Columbia–(BUSINESS WIRE)–On November 14, 2018, Harvest Health & Recreation Inc. (CSE:HARV) (OTCQX:HTHHF) (formerly, RockBridge Resources Inc., the “Issuer”), located at 627 S 48th St, Ste 100, Tempe, AZ 85281, and Harvest Health & Recreation Inc. (CSE:HARV) (OTCQX:HTHHF) (“VCP”) completed its previously announced business combination (the “Business Combination”), to create a U.S. based cannabis cultivator, processor and dispensary operator.
Steven White (the “Acquiror”), CEO of the Issuer, located at 627 S 48th St, Ste 100, Tempe, AZ 85281, announced today that in connection with the Business Combination, the Acquiror, together with his joint actors, acquired beneficial ownership or control or direction over 2,000,000 Super Voting Shares, which represent 50% of the Class and 228,215 Multiple Voting Shares, which represent 10.8% of the Class. The Super Voting Shares were issued at a value of US$6.55 and Multiple Voting Shares were issued at a value of $655 per share. Immediately prior to the Business Combination, the Acquiror and his joint actors owned or controlled no securities of the Issuer.
Each Super Voting Share is entitled to 200 votes per share and is convertible into one Subordinate Voting Share, and each Multiple Voting Share is entitled to 100 votes per share and is convertible into 100 Subordinate Voting Shares. In connection with the acquisition, the Acquiror agreed to a 5-year contractual lock-up with the Issuer, with 10% release from such lock-up every 6 months, and subject to release in certain other circumstances.
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