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For a Total Consideration of US$43.8 Million, Harborside Inc. (OTCMKTS: HBORF) Executes the Acquisition Strategy of Sublimation Inc.

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With the continuous creation and expansion of the modern cannabis industry, many institutions are heading to the call of supporting education for seniors, veterans, and families embracing the use of cannabis products for the first time. Harborside Inc. (OTCMKTS: HBORF) is one such institution, and it is quickly leading the industry into the next decade of growth and maturity. The vertically integrated California cannabis business was the first cannabis retailer in the country to demand verification of THC and CBD potency levels. 

Taking Control of its Production, Retail, and Expansion Capabilities

Over time, Harborside Inc. has set the bar for compliance of cannabis through the integration of technology, processes and working together to scale its reach. With an exceptional product offering and consumer following, the company is also quickly building on its brand portfolio, which has compelled a need for acquisitions. In fulfilment and for a total consideration of US$43.8 million, the cannabis enterprise has acquired Sublimation Inc.

In 2006, Harborside received one of the first six medical cannabis licenses granted in the United States. And since then, it has played a significant role in ensuring safe access of cannabis to the diverse community of California. 

The CEOs of the two companies, Ahmer Iqbal of Sublime and Peter Bilodeau of Harborside, are excited to join forces to leverage each other’s expertise. On one end, Harborside will be supporting the continued growth of the Sublime brands. On the other hand, the support will help Harborside expand the reach of its existing branded product portfolio in retail and wholesale markets. 

Sublimation Inc. Offers Great Tasting and High Potency Fuzzies Branded Products

Since its founding in 2016, Sublime has made history with its expansive line of high-potency, high-quality and affordable products. They include Fuzzies branded pre-rolls, vapes, pre-ground flower, batteries and gummies, and roll-your-own flower kits. The Oakland-based company is one of California’s most innovative cannabis manufacturers and has continued to position itself for continued growth strategically. It is worth mentioning that pre-rolls are the fastest-growing cannabis sub-segment within the California market today. 

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