Harvest One Provides Strategic Update and Announces Q2 2020 Financial Results
Summary
"In light of industry challenges, Harvest One realigned its strategy to focus on our core strengths of brands and distribution and undertook significant cost cutting initiatives to rightsize the organization. The Lucky Lake facility has been fully redesigned in support of the Companys renewed focus on Cannabis 2.0 products and distribution, while Mission Road Phase 1 expansion has been completed and licensed. The decrease in net revenue was primarily attributable to product returns, pricing adjustments and reduced provincial orders in comparison to the prior year. Harvest One is a global cannabis company that develops and provides innovative lifestyle and wellness products to consumers and patients in regulated markets around the world. Shareholders have significant exposure to the entire cannabis value chain through its wholly-owned subsidiaries: United Greeneries, a Licensed Producer; Satipharm (medical and nutraceutical); and Dream Water Global, and Delivra (consumer); as well as a controlling interest in Greenbelt Greenhouse.
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