Harvest One acquires Delivra
On March 4, 2019, Harvest One Cannabis Inc. ("Harvest One") and Delivra Corp. ("Delivra") announced that they entered into a definitive arrangement agreement pursuant to which Harvest One would acquire all of the issued and outstanding common shares of Delivra. Structured as a plan of arrangement under the Business Corporation Act (Ontario), under the terms of the arrangement agreement, shareholders of Delivra would receive 0.595 common shares of Harvest One for each Delivra share.
The transaction was unanimously approved by the Board of Directors of each of Harvest One and Delivra. In addition, Delivra shareholders holding approximately 28.7% of the issued and outstanding Delivra shares entered into voting and support agreements to vote in favour of the transaction.
The transaction closed on July 3, 2019, following which Delivra become a wholly-owned subsidiary of Harvest One and its shares were delisted from the TSX Venture Exchange as of the close of trading on or about July 4, 2019.
Further information can be found on Canada Newswire's website.
Delivra is a specialty biotechnology company having a proprietary transdermal delivery system platform that can shuttle pharmaceutical and natural molecules through the skin, in a targeted manner.
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.