Source
r/TheCannalysts•
plicense

Question about HVST licensing

I've been doing my due diligence of HVST's growth plans after going through all the hype on r/weedstocks. One thing that I felt as interesting was their recent announcement that they've stopped expansion plans at their current Duncan facility and their focus on building up capacity at a newly acquired warehouse in Chemainus, BC(https://www.harvestone.com/news/index.php?content_id=92).

Now their facility at Chemainus is actually ~20km away from Duncan and it looks like their licensing is for the facility at Duncan. Do they have to go through ACMPR licensing process again to begin cultivation at Chemainus? I mailed Colin(public relations in-charge for HVST) but didn't get any response so far(its been a month). Do the wise ones here have an answer to this?

Posted Jan 15, 2018, 7:07 AM UTC

732
stivi_1Calculated Risk•

I can only suggest you call Colin if you want to get your answers quick. He's always open for a short or even long call. He kinda hates writing mails, never got an other reply than "let's have a call" :-)

Regarding their licensing, they have to do it but they expect it to be faster than the usual process as Chemainus will be treated as an extension to their already existing licenses/Duncan.

10
Symbiosis101•

Mails are more legally binding than a call .
Answers via mail are better

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stivi_1Calculated Risk•

Sure. Obviously that's why they don't want to write mails :-) They also might get problems by eventually disclosing things they shouldn't... If they do in a written form, bad for them. So multiple reasons to prefer calling instead of writing.

4
mollytime•

They've recently deployed a communications strategy, future messaging from them may come only in 'paid content' format.

We'd approached them a little while back regarding an AMA, but have had no response.

@TheCannalysts don't do paid content 'round these parts....

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stivi_1Calculated Risk•

Are you telling me they want to make money out of people interested in their company?

I've talked with Colin too about an AMA, not sure if you've seen it in the mod discussions. The reason there for not doing it was they currently have to much undisclosed things going on so they barely could say anything. One might believe that, or not...

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Kbarbs4421•

Have you approached any other companies about an AMA? I have a few I'd like to see, and would be happy to reach out to on behalf of thecannalysts, but wouldn't do so without support from the mod team.

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LastNightlel•

If you are an existing LP, getting a new license for a new address has become a non issue nowadays, it's a formality, not a risk.

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plicenseOP•

I read all your replies and its quite eye opening - thank you! You have a very unique perspective :)

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SirEbrally•

If I recall correctly, did you not once say that you are currently awaiting licensing?

If so, how is that coming along - where are things at? (if you don't mind me asking)

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LastNightlel•

We are in "review" stage currently and pretty much out of security clearance as per HC contingent on an admin update we had to fulfill. Otherwise moving along and currently raising capital.

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SirEbrally•

Thanks kindly for the update. As outsiders looking in, it's interesting to have voice(s) on the inside.

Um, in regard to your mentioning "raising capital" - gut feeling says many people here would love to know more about that, too.

I'd venture to say, if it is possible for outsiders to get in on the raise, they'd be all ears in this neck of the woods. [wink wink nudge nudge]

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LastNightlel•

Raising capital has been an eye opening experience, without getting into too many details my personal observation is that some raises have been extremely unfavourable to the LP’s: diluting them significantly right off the bat from the seed stage. It leaves me scratching my head why even bother moving forward? On the flip side some of them had self funded and ultimately ran out of money as this is a very capital intensive endeavor especially if you were in the game early as an early adopter of misc tech/methods. Once you are left with your back against the wall and at the mercy of the investor the deal you take sets a precedent - good and bad depending on what side of the table you are on. Again, just my own personal observation, which is somewhat supported by the mega expansions and supersized plans everyone has - very interested if they will be able to deliver on them.

With that said, we are aiming to remain as a boutique privately held LP. Our proprietary grow tech out of BC hasn't been commercialized and our first facility is really a pilot facility for proof of concept (think canntrust/abcann emphasis on controlled grow environment). Because we don't have plans for million square foot greenhouses or lowest cost per gram we are appealing to a much smaller group of investors. Combine that with wanting to remain private we then appeal to even less people. Those are some of our challenges :)

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alvaroefe•

Whenever I read about them I am pretty underwhelmed with both their current and expected 2019 production capabilities. I like their IP strategy and them going through the medical trials for their drugs— we all know how high cutting edge pharmaceuticals go for —, but I can‘t help but think they will have a very small yield compared to other players in the sector. Don’t you see that as a disavantage?

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