Heritage Cannabis Achieves Strong Sales Growth, Reaches First Million Dollar Revenue Week

Rhea-AI Summary

Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) reported a significant milestone in March 2021, surpassing $1 million in weekly revenue for the first time since launching its brands in 2020. This growth is attributed to the popularity of its brands, including Purefarma, Pura Vida, Premium 5, and RAD. Despite ongoing product availability challenges in major markets like Ontario and Alberta, demand continues to rise as provincial orders increase. CEO Clint Sharples emphasized the importance of this achievement while looking to expand both domestically and internationally.

Positive

• Weekly revenue exceeded $1 million for the first time since brand launch.
• Strong sales driven by popular brands: Purefarma, Pura Vida, Premium 5, and RAD.
• Increase in provincial orders indicating growing brand traction.

Negative

• Product availability still ramping up in major markets like Ontario and Alberta.

Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), today announced that the second week of March 2021 saw weekly revenue exceed $1 million for the first time since the launch of its own brands in 2020. This growth was propelled by the popular brands Purefarma, Pura Vida, Premium 5 and RAD. All of these brands, plus the newly launched health and wellness brand feelgood. are gaining a healthy following as evidenced by these strong sales.

Across the country, provincial orders are steadily increasing as the Company’s brands gain traction. Orders of $1 million in the course of one week were achieved despite product availability still ramping up in two of Canada’s largest markets - Ontario and Alberta - and orders from Quebec still remain to come.

“This achievement is an exciting milestone for Heritage as we continue to develop and innovate new products within our already popular brands,” stated, Clint Sharples, CEO of Heritage. “While there is still much more work to be done to make this a consistent outcome, we are energized by our first million dollar week in the Canadian market. We continue to make significant progress on both our medical and recreational product offerings. Expanding our international strategy in conjunction with growing larger in all Canadian provinces will continue to drive this revenue number higher in the future.”

Follow Heritage’s Purefarma, Pura Vida, Premium 5, and RAD brands on Instagram and Facebook for more information.

About Heritage Cannabis Holdings Corp.
Heritage is a cannabinoid company focused on the production and sale of medical and recreational hemp-based and cannabis-based products and services. In Canada, Heritage operates through its subsidiaries Voyage Cannabis Corp. and CannaCure Corp., both regulated under the Cannabis Act Regulations. Working under these subsidiaries and the Purefarma, Pura Vida, Premium 5, RAD and feelgood. brands, Heritage focuses on extraction and the creation of derivative products for recreational consumers, as well as the formulation of cannabis based medical solutions. In the U.S., Heritage operates under Opticann Inc., a Colorado based oral and topical cannabinoid company with the rights to exclusively sell CBD and CBG products made with the patented VESIsorb® drug delivery system for optimized absorption and stability. As the parent company, Heritage is focused on providing the resources for its subsidiaries to advance their products or services to compete both domestically and internationally.

ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.

“Clint Sharples”

Clint Sharples

CEO

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210316005389/en/

FAQ

What revenue milestone did Heritage Cannabis achieve in March 2021?

Heritage Cannabis reported weekly revenue exceeding $1 million for the first time since the brand launch.

What brands contributed to Heritage Cannabis's revenue growth?

The brands contributing to the revenue growth include Purefarma, Pura Vida, Premium 5, and RAD.

What challenges is Heritage Cannabis facing in the Canadian market?

Heritage Cannabis is facing product availability challenges in major markets like Ontario and Alberta.

What is the stock symbol for Heritage Cannabis?

The stock symbols for Heritage Cannabis are CANN (CSE) and HERTF (OTCQX).

What are Heritage Cannabis's future plans following this revenue milestone?

Heritage plans to continue expanding its medical and recreational product offerings and grow its international strategy.