Harvest Health Announces Acquisition, Departure of Executive Chairman

Wednesday was a busy day for Harvest Health & Recreation (OTC: HRVSF). The vertically-integrated cannabis company announced in a press release that it had agreed to acquire a peer, and also announced the departure of Executive Chairman Jason Vedadi.

Harvest will purchase Interurban Capital Group, owner of the Have a Heart dispensary chain, for roughly $85.8 million in cash and stock -- a slightly higher price than had been anticipated when Harvest first indicated it was in talks with the company back in January.

Have a Heart's 10 dispensaries are located in Washington, California, and Iowa; its website says that another six are "coming soon."

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Source Fool.com