Harvest One Announces Filing of Preliminary Short Form Prospectus in Connection with $35 Million Bought Deal Financing and Appointment of Interim COO

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 16, 2018) -

Filing of Short Form Prospectus

Harvest One Cannabis Inc. (TSX VENTURE:HVST) ("Harvest One" or the "Company") is pleased to announce that it has filed a preliminary short form prospectus in each of the provinces of Canada (except Quebec), and obtained a receipt from the British Columbia Securities Commission to qualify the distribution of $35,000,000 of units ("Units") of the Company, at a price of $1.82 per Unit (the "Offering").

Under the Offering, each Unit will consist of common share ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant shall entitle the holder thereof to purchase one Common Share (a "Warrant Share") at an exercise price of $2.30 per Warrant Share at any time up to 24 months following the closing of the Offering.

The Company has also granted the Underwriters an option (the "Over-Allotment Option") exercisable in whole or in part, at any time up to 30 days after the closing of the Offering to purchase up to an additional 15% of the number of Units issued pursuant to the Offering at $1.82 per Unit. If the Over-Allotment Option is exercised in its entirety, the aggregate gross proceeds of the Offering will be $40,250,000.

Additional details regarding the Offering can be found in the news releases of the Company dated January 9, 2018.

COO Position

The Company is also pleased to announce the appointment of Nick Maltchev, previous Chief Operation Officer ("COO") of Advanced Nutrients Ltd. ("Advanced Nutrients"), as interim COO of Harvest One. Mr. Graham Whitmarsh has moved on to pursue other opportunities.

"On behalf of our entire team and the board of directors, I would like to thank Graham for his contributions and wish him the best in the future. Nick brings a strong operations background to the COO position from his experience at Advanced Nutrients where he was instrumental in providing operational strategy and leadership" said Andreas Gedeon, President and Chief Executive Officer of Harvest. "With Nick, we will continue to be well positioned to execute on our business plan as we accelerate growth."

Mr. Maltchev is a global executive with a passion for results and building great teams. He brings a mix of strategic thinking, deep technical knowledge and over 25 years of technology experience. He has been involved in the cannabis industry since 2004 and was an integral part of the Advanced Nutrients management team over a period of 12 years, holding several positions including information technology manager, COO and general manager. Mr. Maltchev holds a Bachelors of Business Administration, as well as designations in project management, cybersecurity and computer science. He is also currently in the process of finishing an MBA in management information systems.