On March 1, 2022, Harborside Inc., a cannabis enterprise, completed the acquisition of UL Holdings Inc. ("Urbn Leaf"), a leading California cannabis retailer with a dominant position in southern California.

Pursuant to the terms of the definitive agreement announced on November 29, 2021, Harborside acquired 100% of the equity interests of Urbn Leaf through the issuance of 60,000,000 subordinate voting shares and the restructuring and assumption of debt.

ATB Capital Markets Inc. and Stoic-Solidum Advisory acted as financial advisors to Harborside. Aird & Berlis LLP and Cassels Brock & Blackwell LLP acted as Canadian legal counsel and Duane Morris LLP acted as United States legal counsel to Harborside. PI Financial provided a fairness opinion on the UL Acquisition to Harborside. PGP Capital Advisors, LLC acted as financial advisor and Burns & Levinson LLP acted as United States legal counsel to Urbn Leaf.

Aird & Berlis acted as Canadian counsel to Harborside with a team including Sherri Altshuler, Adria Leung Lim, Amy Marcen-Gaudaur and Meredith McCann.