Steve DeAngelo's Cannabis Dispensary Chain Harborside To Trade On CSE

Harborside, one of the most iconic cannabis dispensary chains, is going public on the Canadian Securities Exchange following a reverse takeover of FLRish, Inc. Harborside was founded by activist Steve DeAngelo and is known for completing the first legal cannabis sale ever in California.

What To Know

Harborside’s stock is expected to commence trading on or around June 6 under the symbol “HBOR.”

The company will also rely on a new board of directors, which includes CEO Andrew Berman, Peter Bilodeau, Adam Szweras, Matthew Hawkins, Tracy Geldert, Sherri Altshuler and Nayir Felix Munoz. Bilodeau will serve as Chairman.

Berman, CEO of FLRish, becomes the new president and CEO of the combined entity. Keith Li will keep his role as CFO, with DeAngelo serving as Chairman Emeritus.

What's Next

“After more than a decade operating in this industry, we are absolutely thrilled to announce the completion of our merger with Lineage, marking a huge step forward for Harborside," DeAngelo told Benzinga. "We have some exciting developments in the works and we plan to continue driving forward by allocating this capital to further build our footprint in Northern California, expand our brand offerings, and continue to push for the full legalization of cannabis everywhere on the planet.”

Forbes contributor Sara Brittany Somerset reported the company serves roughly 300,000 patients, representing 3 percent of the entire California retail market. While strong on the retail front, driving millions in sales every year, Harborside is facing some troubles with the IRS over their application of the Internal Revenue Code 280E.

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Photo courtesy of Harborside.