Harvest Health & Recreation Inc (CSE: HARV) (OTC: HRVSF) and Verano Holdings LLC are no longer planning to merge — for now.
The two companies announced Thursday the joint decision to terminate their original deal, which was first announced back in April 2019.
The obstacles imposed by the regulatory authorities, both state and local, added to the extreme conditions suffered by the capital market and an otherwise challenging environment for the sale of assets, contributed to the companies making this decision.
Neither party shall pay a fee for the termination of this agreement.
“Given the persistent challenges in consummating this deal and current market conditions both companies felt it was prudent to move forward …