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Harvest One Gains 50% Since Buying Topicals Maker Delivra

Harvest One Gains 50% Since Buying Topicals Maker DelivraToronto-based Harvest One Cannabis Inc. (TSXV: HVT, OTCQX: HRVOF) an international cannabis company in the health and wellness market, announced on March 4 that it will buy all outstanding common shares of Delivra, a Hamilton, Ontario-based maker of non-cannabis pain relief topicals available across Canada. Shareholders of Delivra will receive 0.595 shares of Harvest One for each Delivra share. The deal is valued at CAD $19 million.


In the two weeks since this announcement, Harvest One’s shares have risen 50% to $0.82.

Harvest One’s purchase of Delivra, which produces LivRelief™ brand topicals and creams with existing distribution channels across Canada, will better position Harvest One when cannabis-infused products are legalized in Canada, which is expected in the fall of 2019.

Delivra owns a proprietary transdermal delivery platform that can transport pharmaceutical and natural molecules through the skin. Delivra’s products treat conditions such as joint and muscle pain, nerve pain, varicose veins, wound healing, and sports performance.

Delivra has already begun formulation work for the infusion of CBD and THC into their existing line of products. Harvest One will benefit from Delivra’s formulation expertise as it works to create infused brands in its portfolio, such as Dream Water.

Delivra will immediately add to the revenue of Harvest One with its existing distribution into Shoppers Drug Mart, Walmart, Loblaw, Rexall, Pharmasave, London Drugs, and other major retailers. LivRelief products are available in over 6,000 retail locations, including pharmacies, grocery chains, and independent health food stores across Canada, and online at

Delivra also licenses its patent-pending transdermal delivery technology to pharmaceutical companies globally to treat a broad range of conditions and licenses its over-the-counter products globally.


Harvest One distributes Dream Water into 30,000 stores across North America.

“LivRelief™…is a great addition to our existing brands, which include Satipharm CBD GelPell capsules already on sale in Europe, and Dream Water all-natural sleep aid available across North America,” said Grant Froese, CEO of Harvest One.

The deal represents a premium of 27% to Delivra’s closing trading price on September 28, 2018. After the deal, Delivra shareholders will hold 13.4% of the total Harvest One shares on a non-diluted basis. Delivra will become a wholly-owned subsidiary of Harvest One. The implied value of the deal is approximately

$0.39 per Delivra share, or $19 million.

The deal has been unanimously approved by the Board of Directors of Harvest One and Delivra. Delivra shareholders holding 28.7% of the outstanding shares have entered into agreements to vote in favor of the deal.

Upon the completion of the deal, all directors of Delivra will resign. Dr. Joseph Gabriele, the CEO of Delivra, will join the Board of Directors of Harvest One.

Harvest One has three wholly-owned subsidiaries: United Greeneries, a Licensed Producer; Satipharm (medical and nutraceutical); and Dream Water Global (consumer), and a minority interest in Burb Cannabis (retail operations).

Further information on Delivra can be found at and

Source: Harvest One press release

Harvest One Gains 50% Since Buying Topicals Maker Delivra