OAKLAND, Calif., Sept. 3, 2021 /PRNewswire/ – Harborside Inc. (“Harborside” or the “Company”) (CSE: HBOR), (OTCQX: HBORF) a California-focused, vertically integrated cannabis enterprise, today announced it has purchased 100% of the issued and outstanding equity interest of Accucanna LLC, the license holder of the Company’s Desert Hot Springs retail dispensary location (“DHS”), together with the real property (the “Property”) relating to the DHS (collectively, the “Acquisition”) for a total consideration of US$4,918,263 (the “Purchase Price”). Prior to closing of the Acquisition, Harborside had been operating the dispensary since December 2019 under a management services agreement.
“We are thrilled to add our Desert Hot Springs retail dispensary into our California retail store portfolio,” said Matt Hawkins, Interim CEO of Harborside. “As one of only two drive-through retail locations permitted in the state, and with our strategic location in the Coachella valley near the freeway, we are well-positioned to continue to service the local community and support the robust year-round tourism industry.”
In December 2019, Harborside announced that it opened DHS, the Company’s first retail location outside of the Bay Area. Located at 66205 Paul Road, Desert Hot Springs, CA, the 4,800 square foot facility is strategically located on Interstate 10 between Los Angeles