Harvest Health & Recreation Inc. Acquires CBx Enterprises

Partnership to Bring Award-Winning Products from Evolab and CBx
Sciences to Harvest Stores across Eight States and One of Largest
Footprints in the World

DENVER & PHOENIX–(BUSINESS WIRE)–#cannabisHarvest
Health & Recreation Inc.
(CSE:HARV), a vertically integrated
cannabis company with one of the largest footprints in the United
States, announced the acquisition of CBx Enterprises (“CBx”), whose
technology is utilized by Evolab,
CBx
Sciences
and CBx
Essentials
.

Harvest
Health & Recreation Inc.
(“Harvest”) now holds exclusive
national rights to CBx’s intellectual property, including all
technology, methodologies, trademarks and formulations.

“CBx has established itself as the dominant leader in cannabis product
development, research and innovation, and our partnership is a
game-changer for expansion,” said Harvest Chairman Jason Vedadi.
“Working with the CBx team will allow us to radically slash the lengthy
and costly product development cycles in each new market that we enter
and can now immediately offer some of the most trusted products in the
cannabis industry. Bringing CBx’s team and products to Harvest’s robust
and aggressive portfolio of retail operations combines two of the most
effective names in cannabis.”

CBx’s CO2 extraction, distillation, purification and manufacturing
solutions – which brands such as Evolab utilize – are unrivaled in the
cannabis industry and will be the cornerstone of all Harvest production
facilities. The company has an in-house analytical and product
development laboratory headed by Noel Palmer, Ph.D., which has helped
create top industry-first products, including the first CBG and
Delta-8-THC offerings in Colorado.

“Harvest has created a vast infrastructure already reaching nearly every
major medical and adult-use cannabis market in the U.S.,” said Nicole
Smith, CEO, CBx Enterprises. “This arrangement will allow us to ensure
that patients and consumers across the country have access to premium,
consistent products based on our years of experience and award-winning
technologies.”

CBx’s technology is used in Evolab’s product lines including Chroma™,
Alchemy™, Colors and FreshTerps™, which established reputations as some
of the most innovative cannabis products in the legal market and have
been recognized in many cannabis industry award programs such as the
Cannabis Business Awards, High Times Cannabis Cup, Hemp Connoisseur
Championship and others.

CBx Sciences has introduced a unique line of therapeutic cannabis
topicals, vapes and Gems featuring rare cannabinoids such as CBG and CBN
paired with complementary botanical ingredients. CBx also recently
announced
a hemp-derived product line, CBx Essentials, available for
distribution nationwide.

CBx Sciences and Evolab products will be available at Harvest locations
beginning later this year and are currently available at hundreds of
medical and adult-use locations across Colorado.

About Harvest Health & Recreation Inc.

Harvest Health & Recreation Inc. (CSE:HARV) is a vertically integrated
cannabis company with permits and licenses in 10 U.S. states (including
local approvals in Massachusetts). Harvest’s industry-leading
cultivation, manufacturing, retail facilities, construction, real estate
and technologies are backed by experienced, in-house finance,
compliance, operations, real estate, human resources, marketing and
legal teams, who have a proven and trusted track record in the cannabis
industry. Harvest’s 250+ employees and established best practices are
leveraged daily to consistently drive innovation and growth. Harvest
continues to broaden its operations in the most productive and strategic
markets while servicing patients, consumers and the cannabis industry at
large. A recognized leader in the cannabis industry, Harvest holds
itself to what it believes to be the most stringent health, safety and
quality standards in the industry when it comes to the growth,
production and sale of cannabis medicines and products for consumers
Since Harvest was founded in 2011, the company has donated more than
$500,000 to veterans, seniors, children, patients-in-need and other
charitable recipients. For more information, visit: https://www.harvestinc.com/.

About CBx Enterprises:

CBx Enterprises is an international botanical technology company.
Founded by a team of seasoned experts, the company is dedicated to
advancing the global cannabis industry by offering in-demand services
and creating effective products, formulations and technology platforms.
CBx holds distribution, licensing and intellectual property agreements
with a number of leading cannabis and healthcare brands. Learn more at
CBxSciences.com.

Forward-looking Statements

This press release contains statements which constitute “forward-looking
information” within the meaning of applicable securities laws, including
statements regarding the plans, intentions, beliefs and current
expectations of Harvest with respect to future business activities.
Forward-looking information is often identified by the words “may,”
“would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,”
“believe,” “estimate,” “expect” or similar expressions and include
information regarding: (i) expectations regarding the size of the U.S.
cannabis market, (ii) the ability of the Company to successfully achieve
its business objectives, (iii) plans for expansion of Harvest, and (iv)
expectations for other economic, business, and/or competitive factors.

Investors are cautioned that forward-looking information is not based on
historical facts but instead reflects Harvest management’s expectations,
estimates or projections concerning future results or events based on
the opinions, assumptions and estimates of management considered
reasonable at the date the statements are made. Although Harvest
believes that the expectations reflected in such forward-looking
information are reasonable, such information involves risks and
uncertainties, and undue reliance should not be placed on such
information, as unknown or unpredictable factors could have material
adverse effects on future results, performance or achievements of the
combined Company. Among the key factors that could cause actual results
to differ materially from those projected in the forward-looking
information are the following: the potential impact of an announcement
of a going public transaction on relationships, including with
regulatory bodies, employees, suppliers, customers and competitors;
changes in general economic, business and political conditions,
including changes in the financial markets; and in particular in the
ability of the Company to raise debt and equity capital in the amounts
and at the costs that it expects; adverse changes in the public
perception of cannabis; decreases in the prevailing prices for cannabis
and cannabis products in the markets that the Company operates in;
adverse changes in applicable laws; or adverse changes in the
application or enforcement of current laws, including those related to
taxation; the inability to locate and acquire suitable companies,
properties and assets necessary to execute on the Company’s business
plans; and increasing costs of compliance with extensive government
regulation. This forward-looking information may be affected by risks
and uncertainties in the business of Harvest and market conditions.

Should one or more of these risks or uncertainties materialize, or
should assumptions underlying the forward-looking information prove
incorrect, actual results may vary materially from those described
herein as intended, planned, anticipated, believed, estimated or
expected. Although Harvest has attempted to identify important risks,
uncertainties and factors which could cause actual results to differ
materially, there may be others that cause results not to be as
anticipated, estimated or intended. Harvest does not intend, and does
not assume any obligation, to update this forward-looking information
except as otherwise required by applicable law.

Contacts

Media Inquiries:
Alex Howe for Harvest Health & Recreation
Inc.
alex@powerplantstrategies.com

Graham Sorkin for CBx Enterprises
graham@cbxsciences.com

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