Harvest One Announces Closing of Acquisition of ACMPR Licensed Medical Cannabis Producer and Swiss Medical Cannabis-Based Health Products Company - Seite 3

Option Issuance

The board of directors of the Company has authorized the grant of 8,050,000 incentive stock options to certain of its directors, officers, employees and consultants. Each such option entitles the holder to acquire one Common Share for a period of five years at an exercise price of $0.75 per share. The options are subject to vesting over the course of 24 months following the grant date.

Escrowed Securities

As disclosed in the Filing Statement, the 41,574,662 Common Shares held by Phyto UK and the 11,758,671 Common Shares held by MMJ are subject to a Tier 1 Value Security Escrow Agreement. 1,000,000 Common Shares of the Company remain subject to a CPC Escrow Agreement.

Listing

The Company has obtained final approval to list its common shares on the TSXV as a Tier 1 Industrial or Life Sciences Issuer. The common shares are expected to begin trading on the TSXV at the opening of markets on or about April 28, 2017 under the symbol "HVST".

Issued and Outstanding

Following completion of the Acquisition, Consolidation, and Offering, there are 88,953,992 issued and outstanding Common Shares on a non-diluted basis, and 117,516,451 Common Shares on a fully diluted basis, as disclosed in the Filing Statement.

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to anticipated effects of the Acquisition. The business of the Company is subject to a number of material risks and uncertainties, including integration risks following the Acquisition. Please refer to the Filing Statement and other SEDAR filings for further details. These transactions are subject to a number of material risks, and there is no assurance that they will be completed on the terms or within the timeframes currently contemplated, or at all. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.