Harborside Inc (OTCMKTS: HBORF) has announced plans to amend its articles to remove conversion restrictions on multiple voting shares. The company hopes the move will make about 50% of its issued and outstanding voting shares be owned by shareholders either directly or indirectly. AS a result, the company will no longer be a foreign private issuer under U.S laws and won’t be needed to register per the Securities Exchange Act of 1934.
Harborside will now be registered as a U.S company in the SEC. However, it will still base its operation in Ontario, Canada. Apart from shareholders with more than 5% of shares, directors, and officers, other shareholders will not need to take any action after this. The company will still be listed with the symbol HBOR under the Canadian Securities Exchange (CSE) and the OTCQ market with HBORF as the symbol.
Services offered by Harborside
Harborside is among the first cannabis companies in California. The company was awarded one of the first medical cannabis licenses in the U.S in 2006. It runs three cannabis dispensaries in San Francisco Bay Area. It also has a dispensary in Oregon, the Palm Springs area, and a production facility in Salinas, California, about 47 acres.
Harborside strives to make cannabis products accessible and safe to the California community. The company has licenses for the nursery, cultivation, manufacturing distribution, and retail of cannabis.
Harborside focuses on cultivation, production, distribution, retail and, wholesale of cannabis and cannabis-based products in California for medical marijuana patients and adult users. Its operations in California are in San Leandro, San Jose and Oakland.
Harborside collaboration with Utah State University
Harborside sells its products under various brand names such as KEY, Harborside, Harborside Farms Reserve, and Harborside Farms. It has made a research agreement with Utah state university. The deal, which has been in place since September 2021, involves a study on cannabis crop steering by Dr. Bruce Bugbee. The study aims to use available environmental influences to increase cannabis yield, improve quality and minimize resources.
When done correctly, crop steering can give cannabis farmers better control of cannabis amount and quality. Researchers will examine factors that influence plant growth, such as moisture, temperature, and carbon dioxide. These affect the terpene composition, cannabinoid potency and, harvest of the cannabis plants.
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