TORONTO, March 4, 2019 /PRNewswire/ – Harvest One Cannabis Inc. and Delivra Corp. are pleased to announce today that they have entered into a definitive arrangement agreement pursuant to which Harvest One will acquire all of the issued and outstanding common shares of Delivra (the “Delivra Shares”) (the “Transaction”). Under the terms of the Arrangement Agreement, shareholders of Delivra (“Delivra Shareholders”) will receive 0.595 common shares of Harvest One (the “Harvest One Shares”) for each Delivra Share (the “Exchange Ratio”).

Harvest One, an international cannabis house of brands in the self-care and health and wellness space, has acquired Delivra as a means to further its strategy of providing trusted, effective products to help people in their daily lives. The acquisition of Delivra and its LivRelief™ brand, which produces a variety of topicals and creams with existing distribution channels across Canada, will position Harvest One well when cannabis-infused products are legalized in Canada, which is expected in the fall of 2019.

The acquisition of Delivra by Harvest One puts further emphasis on the Harvest One goal of being a leading house of brands in the global health, wellness, and self-care sector," Grant Froese, CEO of Harvest One, said in a public statement. "The addition of LivRelief™, which is already on retail shelves across Canada, will give Harvest One a head start for cannabis-infused products in Canada and beyond and is a great addition to our existing brands in this space with Satipharm CBD GelPell capsules already on sale in Europe, and our Dream Water all natural sleep aid available across North America. We are very excited to welcome Dr. Joseph Gabriele and the Delivra team into the Harvest One family and expanding our brand portfolio, as well as moving forward aggressively with our cannabis-infused products strategy when and where legal."

Dr. Joseph Gabriele, Director, Chief Executive Officer, and Chief Scientific Officer of Delivra, added, “The transaction with Harvest One is an exciting and important step for our shareholders and is the result of an extensive strategic review process. Harvest One is a global leader in the cannabis space, focusing on innovative lifestyle and wellness products. Combined with our proprietary transdermal delivery system platform and extensive research, development and commercialization capabilities, the combined company is extremely well-positioned to take advantage of the growing market for topicals, sprays, beverages, and other cannabis/CBD-infused products. In addition, Harvest One’s global reach can provide greater distribution capabilities for our existing product portfolio. This is a value-maximizing transaction that provides our shareholders with a significant premium and an exciting opportunity to participate in the upside of Harvest One. We believe that Harvest One is the ideal partner to take Delivra to the next level.”

(CNN)-- Dr. Scott Gottlieb, commissioner of the US Food and Drug Administration, is leaving the agency next month, an administration official familiar with the situation confirmed Tuesday.

This official said this has been in the works for several months. Gottlieb has been commuting weekly to Washington from his home in Connecticut and is leaving to spend more time with his family, the official said.

Gottlieb tweeted that he is "grateful for the opportunity to help lead this wonderful agency."

Alex Azar, secretary of the Department of Health and Human Services, the FDA's parent agency, said in a statement Tuesday that Gottlieb "has been an exemplary public health leader, aggressive advocate for American patients, and passionate promoter of innovation."

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How this news will impact the planned hearings on CBD policy in April is unclear. Cannabis Business Times will track announcements from the FDA in the coming weeks to provide the most up-to-date news on how the administration will address CBD.