Harvest Health & Recreation and Hightimes Holding Downsize California Dispensary Deal

Harvest Health & Recreation (OTC: HRVSF) and Hightimes Holding are modifying the terms of a recent agreement. Fewer assets are now involved in the deal, and the price is lower. Under the new terms, Harvest will sell 10 currently operational and planned dispensaries in California to Hightimes Holding for up to the equivalent of $67.5 million. No reason or reasons were given for the change.

That $67.5 million will consist of $61.5 million in Hightimes Holding Series A preferred stock, $4.5 million in a one-year promissory note bearing interest of 10%, and as much as $1.5 million in cash.

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Source Fool.com