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Harborside Takes Equity Stake In Loudpack

Harborside Takes Equity Stake In Loudpack

Jay Lutz

Monday, March 08 2021, 07:49:51:AM

Harborside Inc (CSE: HBOR) this morning announced that it has made a strategic investment into that of Loudpack, a premier California cannabis operator. The investment took place via a convertible note.

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In connection with taking the strategic investment, Loudpack will be providing Harborside with several services, including the identification of product efficiencies, as well as the improvement of yields at the firms cultivation facility. The company will also provide Harborside with contract manufacturing services for certain products.

The strategic investment took place via a convertible note, which saw Harborside invest $5.0 million. The note is due December 2022, and bears interest at 15% per annum.

Harborside last traded at $2.25 on the CSE.


FULL DISCLOSURE: Harborside Inc is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Harborside Inc on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

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