Harborside Inc. (“Harborside” or the “Company”) (CSE: HBOR), a California-focused, vertically integrated cannabis enterprise, announced today it has acquired full ownership of San Leandro Wellness Solutions, Inc. (the “Transaction”). Harborside previously owned 50% of the dispensary under a joint venture with Dark Heart Nursery, and would have provided management services to the store upon opening in Q4 of this year. With the close of this Transaction, Harborside now operates three dispensaries in the San Francisco Bay Area, alongside their flagship Oakland and San Jose locations. Construction on the ~7,000 square foot retail facility commenced in 2017 and is expected to open later this year as a Harborside branded store. The facility is permitted for retail, distribution and manufacturing.
The San Leandro dispensary is strategically located along the busy Interstate 880 corridor between Oakland and San Jose, one of the most heavily trafficked stretches of highway in Northern California. The store will carry both medical and adult-use products, including Harborside’s own KEY line of cannabis products, and will also offer delivery services. This new retail location will be one of just three licensed dispensaries in the city of San Leandro.
“Harborside accelerated this retail expansion into San Leandro after going public in June 2019, and we are delighted to provide another Northern California community with our quality products,” said Andrew Berman, CEO of Harborside. “Our goal from the very beginning was to establish ourselves as a pre-eminent cannabis retailer in Northern California. This additional retail opportunity will allow us to further engage with consumers and secure our reputation as a trusted resource for all cannabis needs. We are delighted to be in San Leandro and be part of its thriving community.”
“Harborside has been serving the Bay Area for thirteen years and we are thrilled to announce today that we will be bringing our gold-standard business model and award-winning services and products to San Leandro,” said Steve DeAngelo, co-founder and Chairman Emeritus of Harborside. “We started as one of the first six medical cannabis dispensaries licensed in the United States. Since then, we have grown into a leading cultivator, introduced our own consumer brands to the market, expanded our retail footprint, and played a leading role in ending prohibition on access to cannabis. Our goal is the same as it has always been: to provide our clients with safe, tested, high-quality cannabis products at affordable prices with excellent customer service.”
Harborside Inc. is one of the oldest and most respected cannabis retailers in California, operating two of the major dispensaries in the San Francisco Bay Area, two dispensaries in Oregon and a cultivation 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. Harborside is currently a publicly listed company on the Canadian Securities Exchange (“CSE”) trading under the ticker symbol “HBOR”. Additional information regarding Harborside is available under Harborside’s SEDAR profile at www.sedar.com, including in Harborside’s Listing Statement dated May 30, 2019.