HBORF - Harborside announces C$20M private placement provides 2021 Outlook

Harborside (HBORF) updates guidance for FY 2020 and 2021 and also announces private placement.Updates guidance for 2020 along with guidance for 2021: FY 2020 gross revenues in line with previously issued guidance of ~$61 - 63M, and positive EBITDA. FY Adjusted EBITDA expected in the range of 15–17% of revenues vs. previously given range of 8–10%.FY 2021, gross revenues expected between $68 - $72M. The increase in revenues for 2021 is expected to be derived from improved pricing in retail along with continued increases in both flower yields and processing efficiencies in Harborside's wholesale operations. Adjusted EBITDA in 2021 through more efficient procurement of goods sold and stronger cost discipline on overhead spend.Management has decided to explore the divestiture of its one retail dispensary operating as Terpene Station in Eugene, Oregon as part of the continued efforts to focus on the California market.Company announces a brokered private placement of units of the company at a price of C$2.55 per SVS Unit for gross

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Harborside announces C$20M private placement, provides 2021 Outlook