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Harvest One Completes Acquisition of Dream Water and Dream Water Canada

Published: 05/30/2018

Team: Sean Maniaci, Jamie Litchen, Christopher B. Norton

On May 30, 2018, Harvest One Cannabis Inc. completed the acquisition of all the outstanding shares of Dream Water Products Canada Inc. (“Dream Water Canada”) and Sarpes Beverages, LLC (dba Dream Products, LLC) (“Dream Water USA”) in exchange for a combination of US$12.5 million in cash and C$18.5 million in common shares of Harvest One at a deemed price of C$1.00 per share, representing total consideration of approximately C$34.5 million. As part of the transaction, the combination of Dream Water Canada and Dream Water USA will become Dream Water Global which now owns the worldwide rights and all intellectual property to and for Dream Water.

As a result of the transaction, Harvest One expects to achieve its strategic goal to operate as a complete, vertically-integrated global group with cannabis cultivation (United Greeneries) plus the manufacturing, marketing and distribution of both medical and pharmaceutical cannabis products (Satipharm) and consumer goods marketing, manufacturing and distribution with Dream Water.

Cassels Brock acted for Dream Water Canada with a team comprised of Sean Maniaci, Jamie Litchen (Business Law) and Chris Norton (Tax).