Harborside heads north, gets listed on Canadian exchange

By Alicia Wallace | CNN

Harborside, a prominent Bay Area dispensary chain, wants to establish itself as the dominant player in Northern California’s cannabis industry. To do that, it’s gone to Canada.

Harborside on Monday joined a growing wave of American cannabis companies that have listed shares on the Canadian Securities Exchange as a means of accessing capital to operate and grow businesses still deemed illegal under US federal law.

Following a previously announced reverse merger with Lineage Grow Co. Ltd. — a deal initially valued at C$200 million (about $150 million) — the resulting company, known as Harborside Inc., is trading on the CSE under the ticker symbol HBOR.

Harborside, one of the oldest licensed cannabis businesses in the United States, also became known for a years-long campaign to prevent a shutdown of its operations by the federal government for allegedly violating US drug laws despite California’s having legalized medical marijuana. Harborside won

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