HARV Stock Jumps on Strategic Partnership with Harvest of Battle Creek

HARV stock

HARV stock has been gaining momentum so far this month, with Harvest Health and Recreation Inc (CSE:HARV) (OTCQX:HRVSF) in the news. The vertically integrated cannabis company made a major announcement today that could prove to be a major positive for its investors.

Key Partnership

The company announced that it has entered into a partnership with Harvest of Battle Creek, which is a newly established provisioning center located in Michigan. Among cannabis companies, Harvest Health boasts one of the biggest presences in the United States, and this move is a further indication of the company’s willingness to expand.

Harvest Health and Recreation has become synonymous with quality medical marijuana products over the years, and it is now trying to expand into new markets aggressively. Michigan is hopefully going to be another important stepping stone for the company as it tries to become the dominant medical cannabis player in the country.

HARV stock is up 1% at C$4.70.

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The Chief Executive Officer of the company, Steve White, said, “Michigan's commitment to ensuring consumers have access to only the highest quality products aligns perfectly with Harvest's mission, and we look forward to serving the Battle Creek community." This is a major development and one that could have a positive effect on the company’s long-term business.

However, that is not all. Earlier this month, Harvest Health made another major announcement that came as a surprise to many market watchers. The company announced that its acquisition of Falcon International is off the table, and Harvest Health went on to file a lawsuit against Falcon.

Harvest Health and Recreation had agreed on an all-stock deal worth up to $240 million in total. However, Falcon apparently failed to produce its financial records for adequate auditing. The deal was a significant one since Falcon is based out of California, and the acquisition would have expanded Harvest Health’s footprint into one of the most lucrative markets in the United States.

HARV stock has soared over 25% over the past week.

>> Read More Harvest News

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