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Mackie Research has Initiated Coverage Harvest One (TSXV: HVST)

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Analyst Greg McLeish gives the company a buy rating and a 12-month target price of $1.00, a premium of 45% to the $0.69 price on September 20th, the day the report was issued.

Additional Information:

Company: Harvest One Cannabis
Stock Symbol: TSXV: HVST
Date Published: Sep 28, 2017
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch media

Today’s buy recommendation comes from Mackie Research.

Mackie Research has initiated coverage on Harvest One Cannabis (TSXV:HVST)

Analyst Greg McLeish gives the company a buy rating and a 12-month target price of $1.00, a premium of 45% to the $0.69 price on September 20th, the day the report was issued.

Harvest One Cannabis focuses on supplying Canadian and international medical and recreational cannabis markets through United Greeneries, its horticultural arm, and Satipharm, its medical arm.

Harvest’s largest shareholder is MMJ PhytoTech of Australia, which currently owns approximately 60% of the issued and outstanding shares of the company.

Harvest One, through United Greeneries, currently operates a 16,000 square foot facility located on 13 acres of land in Duncan, B.C.

This operation has approximately 10,000 square feet of cultivation space, capable of producing 1,000 kilograms of cannabis per year, a Level 8 narcotics vault, and a full-service in-house biochemical and analytical laboratory.

The company is finalizing plans for Phase 1 expansion of its Duncan facility.

The total cost of this development is estimated to be $9 million, and it is expected to increase the company’s total production capacity to 8,500 kilograms per year.

United Greeneries has another potential production facility located on 18 acres of wholly owned land near the village of Lucky Lake, Saskatchewan.

The company applied to become a Health Canada licensed producer in March 2015 and is currently in the security clearance stage of the licensing process.

Analyst Greg McLeish stated: “In July 2017, the company’s Duncan facility successfully renewed its Access to Cannabis for Medical Purposes Regulations (ACMPR) cultivation licence. As part of the renewal process, the company also applied to Health Canada to amend its licence to be able to sell and distribute medical marijuana. The application for the amendment follows the harvest of two independent consecutive cannabis crops. Based on this success, we forecast United Greeneries will be awarded its sales licence within the next 60 days.”

Satipharm is focusing on market opportunities in Germany and the European Union.

Cannabidiol is legal in Germany and is not considered a medication.

Management is looking to import Satipharm’s Gelpell Microgel capsules into Canada, where the market for cannabis oil is expanding rapidly.

Gel caps are easy to consume and they provide patients and physicians better confidence and comfort with precision dosing.

Additionally, many baby boomers are looking for a safe and unobtrusive way to manage their chronic pain symptoms and maintain an active lifestyle, and many find oil more appealing than dried marijuana.

Listed in May, the company currently trades at $0.75, and with 89 million shares outstanding, the company is capitalized at $66.8 million.

For more information, please visit the company’s website Investor Relations is handled by Colin Clancy at 778-855-2408 or email

For more information about Mackie Research or to obtain a copy of this extensive research report contact your nearest Mackie Research office. Their branches are listed on their website at

I’m Samantha Deutscher for Investmentpitch media