New shops opened in San Francisco’s Haight-Ashbury district and in La Mesa, California

OAKLAND, Calif. and TORONTO, Could 11, 2022 /PRNewswire/ – Harborside Inc. (“Harborside” or the “Firm”) (CSE: HBOR) (OTCQX: HBORF), a California-focused, vertically built-in hashish enterprise, right this moment introduced it opened two new retail shops in California, bringing its complete retail retailer depend to 13. As well as, the Firm has offered 2021 professional forma gross sales info.

Retail Retailer Openings

The Firm is happy to announce that it has opened a brand new Harborside-branded retailer in San Francisco, and a brand new Urbn Leaf-branded retailer in La Mesa, situated in San Diego County.

The San Francisco retailer is situated at 768 Stanyan Avenue and contains 1,690 sq. ft. It’s located within the historic Haight-Ashbury district, which was an epicenter of the hippie and counterculture actions of the Sixties that helped pave the best way for hashish legalization. The shop is throughout the road from Golden Gate Park and a brief stroll from many in style eating places and different native sights.

The La Mesa retailer, situated at 8939 La Mesa Blvd., contains 1,606 sq. ft. It’s located close to main highways and is a brief strolling distance from the massive Grossmont Middle shopping center and lots of different native sights.

Increasing our retail footprint in each northern and southern California with these engaging new shops in wonderful places is a vital step ahead.

Ed Schmults, Chief Government Officer of Harborside

It’s significantly notable that these shops have considerably much less sq. footage in comparison with many hashish dispensaries within the state. This smaller footprint displays a way more sustainable strategy to hashish retail in an evolving market. We imagine that each shops are properly positioned for long-term success.

Professional Forma Gross sales

Harborside offered additional details about its estimated professional forma 2021 gross sales, which embody the full-year gross sales for the Firm and its three current acquisitions: Sublimation Inc. (“Chic”), UL Holdings Inc. (“Urbn Leaf”), and LPF JV Company (“Loudpack”) (collectively, the “Acquisitions”). Excluding bulk gross sales, which Harborside has discontinued since finishing the Acquisitions, administration estimates that the Firm’s professional forma 2021 gross sales would have totaled roughly $190 million.⁽¹⁾

About Harborside

Harborside, a vertically built-in enterprise with hashish licenses masking retail, main manufacturers, distribution, cultivation, nursery and manufacturing, is likely one of the oldest and most revered hashish corporations in California. Based in 2006, Harborside was awarded one of many first six medical hashish licenses granted in the USA. At this time, the Firm operates twelve dispensaries masking Northern and Southern California and one in Oregon, in addition to a producing facility in Oakland, California, distribution services in San Jose and Los Angeles, California and built-in cultivation/manufacturing services in Salinas and Greenfield, California. Harborside is a publicly listed firm, at the moment buying and selling on the Canadian Securities Alternate (“CSE”) underneath the ticker image “HBOR” and the OTCQX underneath the ticker image “HBORF”. The Firm continues to play an instrumental function in making hashish protected and accessible to a broad and various neighborhood of California and Oregon customers.

Observe:

_{(1) Sure monetary info included on this press launch is neither audited nor reviewed. The place attainable, the data has been constructed by administration from obtainable audited or audit reviewed monetary statements. The place no audited or audit reviewed info has been obtainable, extra administration accounting info has been utilized to assemble monetary info. Monetary statements haven’t been ready in accordance with the identical requirements. Harborside and Loudpack put together their monetary statements in accordance with Worldwide Monetary Reporting Requirements. Urbn Leaf prepares their monetary statements in accordance with Typically Accepted Accounting Ideas (GAAP) in the USA. Chic for the interval previous to acquisition by Harborside on July 2, 2021 ready their monetary statements in accordance with Typically Accepted Accounting Ideas (GAAP) in the USA. Readers are cautioned to not place undue reliance on such info.}

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