Harvest Health & Recreation Inc. (OTCMKTS:HRVSF) Stock Moves in a Narrow Range: How to Trade This Month?
Harvest Health & Recreation Inc. (OTCMKTS:HRVSF) gained marginally after the company announced the amendment of terms of outstanding and issued a warrant to show the exercise price of the warrants in USD. The company determined the US dollar exercise price through the US dollar exchange rate by the Bank of Canada on the date each warrant was issued.
The cannabis operator had initially issued the warrants in May 2019 related to a convertible debt private placement, December 2019 connected to a senior secure debt private placement, October 2020 for a bought deal offering, and in December 2020 related to the private transaction. To affect the warrants exercise price conversion to USD, the company enters supplemental warrant indentures on June 30, 2021, concerning the December 2019 and October 2020 issued warrants and amendments for certificated warrants for the May 2019 and December 2020 warrants.
The warrants exercise price conversion to USD was necessitated by the accounting treatment of the warranted reflected in a different currency than the company’s functional currency. Therefore, in the coming months, HRVSF is a stock to watch.
Market Reaction:
On Thursday, HRVSF stock jumped 0.48% to $4.15 with more than 137K shares, compared to its average volume of 595K shares. The stock has moved within a range of $4.0700 – 4.2300 after opening the trade at $4.07 Over the past 52-week, the stock has been trading within a range of $0.7800 – 4.5000.
