OAKLAND, Calif., and TORONTO – Harborside Inc. , a California-focused, vertically integrated cannabis enterprise, is pleased to announce that on August 31, 2020, the Ontario Securities Commission (OSC) issued an order revoking the cease trade orders (CTO) issued against the company.
As previously disclosed, the OSC issued cease trade orders relating to: (a) the Company’s refiling of certain historical financial statements of FLRish, Inc. for the fiscal years ended December 31, 2017 and 2018 and the interim period ended March 31, 2019, and financial statements and related management’s discussion and analysis of the Company for the interim periods ended June 30, 2019 and September 30, 2019 (collectively, the “Restated Documents”) due primarily to changes in the application of accounting treatments related to certain transactions by its reverse takeover acquirer, FLRish, Inc.; and (b) the Company’s failure to meet a deadline to file audited financial statements for the fiscal year ended December 31, 2019 and corresponding management’s discussion and analysis (the “2019 Annual Filings”).
In conjunction with the filing of the Restated Documents, the 2019 Annual Filings, and the financial statements and corresponding management’s discussion and analysis for the interim period ending March 31, 2020 (collectively, the “Financial Disclosure Documents”), the OSC has fully revoked the CTO.
Copies of the Financial Disclosure Documents are available under the Company’s SEDAR profile at www.sedar.com.
The Company is coordinating with the Canadian Securities Exchange (“CSE”) with respect to reinstatement of trading on the CSE.
For the latest news, activities, and media coverage, please visit the Harborside corporate website at www.InvestHarborside.com.
Harborside Inc. is one of the oldest and most respected cannabis retailers in California, operating three of the major dispensaries in the San Francisco Bay Area, a dispensary in the Palm Springs area outfitted with Southern California’s only cannabis drive-thru window, a dispensary in Oregon and a cultivation/production facility in Salinas, California. Harborside has played an instrumental role in making cannabis safe and accessible to a broad and diverse community of California consumers. Co-founded by Steve DeAngelo and dress wedding in 2006, Harborside was awarded one of the first six medical cannabis licenses granted in the United States and today holds cannabis licenses for retail, distribution, cultivation, nursery and manufacturing. Harborside is currently a publicly listed company on the CSE trading under the ticker symbol “HBOR”. Additional information regarding Harborside is available under Harborside’s SEDAR profile at www.sedar.com.