What is Harborside Inc?
Harborside Inc. (the “Company” or “Harborside”) 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.
When did Harborside Inc. go public?
Harborside went public in Canada as a result of a reverse takeover transaction (“RTO”) involving FLRish, Inc. and Lineage Grow Company Ltd. on May 30, 2019. On June 10, 2019, Harborside’s subordinate voting shares began trading on the Canadian Securities Exchange (“CSE”) under the ticker symbol “HBOR”.
What is an RTO?
An RTO (also called a reverse merger or back-door listing) is a transaction whereby a public company (“Pubco”) whose shares are already listed on a stock exchange acquires all of the shares of a private company (“Targetco”) that has more substantial operating assets and/or operations. Pubco acquires the securities of Targetco by issuing to Targetco’s shareholders a significant number of shares in Pubco in exchange for their Targetco shares. The result of the RTO is a change of control of Pubco, with the shareholders of Targetco holding a majority of the shares of Pubco. It is a common avenue for U.S. companies to access the Canadian capital markets.
What is the ticker symbol for Harborside Inc. and what exchange does it trade on?
Our shares trade on the CSE under the ticker symbol “HBOR”.
Where can I find more information about Harborside?
How can I buy Harborside shares?
Our shares can be purchased by contacting a registered stock broker or through an online stock brokerage service for self-directed investors.
Why are the shares of the Company listed in Canada and not in the U.S.?
Despite medical cannabis laws in most U.S. states, cannabis remains illegal under U.S. federal law. Due to this prohibition, major U.S. stock exchanges will not list cannabis firms that operate in the U.S. However, the CSE allows cannabis companies to list under its exchange and is currently home to several companies that have U.S. operations.
Can non-Canadian residents invest in the Company?
Yes, non-Canadian residents can invest in Harborside using a broker that permits trading on foreign exchanges. Please consult your broker to determine whether they are able to execute the trade on your behalf on the CSE.
Can I purchase shares directly from the Company?
No, but our shares can be purchased through brokerage firms, including online brokerage services for certain investors.
Does Harborside pay a dividend?
At this time, Harborside does not pay a dividend.
How can I obtain share price information for Harborside’s shares?
You may access our current stock quote as well as share price history for HBOR shares.
What is Harborside’s fiscal year?
Harborside’s fiscal year ends on December 31.
Who is Harborside’s transfer agent?
The transfer agent and registrar for the company’s subordinate voting shares is Odyssey Trust Company. They can be contacted at www.odysseytrust.com.