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HERITAGE CANNABIS HLDGS - HERTF STOCK NEWS

Welcome to our dedicated page for HERITAGE CANNABIS HLDGS news (Ticker: HERTF), a resource for investors and traders seeking the latest updates and insights on HERITAGE CANNABIS HLDGS stock.

Heritage Cannabis Holdings Corp. (HERTF) provides investors and industry observers with essential updates through this centralized news hub. Track official press releases, strategic developments, and operational updates from the cannabis-focused asset management company.

Discover timely information about corporate restructuring initiatives under the Companies' Creditors Arrangement Act (CCAA), portfolio optimization efforts, and regulatory compliance milestones. This resource aggregates earnings announcements, asset transaction details, and management commentary to support informed market analysis.

Key updates include production capacity changes, partnership developments, and financial restructuring progress. The curated collection serves as a reliable reference for understanding HERTF's position within evolving cannabis markets and its approach to operational resilience.

Bookmark this page for streamlined access to verified corporate communications. Check regularly for new filings and strategic updates directly from Heritage Cannabis Holdings and authorized news sources.

News

Heritage Cannabis Announces Commencement of Sale and Investment Solicitation Process

Rhea-AI Summary
Heritage Cannabis Holdings Corp. announces the commencement of a sale and investment solicitation process under the Companies’ Creditors Arrangement Act. The process involves the sale of the company's business and assets, with a stalking horse bid already in place. Interested parties have until May 10, 2024, to submit proposals.
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Heritage Cannabis Obtains Creditor Protection to Pursue Restructuring and Sales Process

Rhea-AI Summary
Heritage Cannabis Holdings Corp. (HERTF) announces creditor protection under CCAA, with $8.4 million debt demand. KPMG appointed as monitor. Potential delisting from CSE.
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Heritage Cannabis Reports Q4 2023 and Year-End Financial Results

Rhea-AI Summary
Heritage Cannabis Holdings Corp. achieved significant growth in gross margin for the year, with over 50% growth compared to the previous year, and an impressive 628% growth for the fourth quarter. The company reported increased revenues driven by the success of its RAD vape products and Adults Only brand. Cost of sales decreased, leading to improved gross margins. The company also made strategic operational and corporate moves to boost production and expand market reach.
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Heritage Cannabis Announces Closing of Previously Announced Sale Lease Back Transaction and Third Amendment to its Senior Secured Loan

Rhea-AI Summary
Heritage Cannabis Holdings Corp. has closed a sale and leaseback agreement for its real estate properties in Ontario and British Columbia, receiving a net purchase price of $9,714,475. The company also amended its credit facilities and existing warrant certificates, reducing its remaining term loan debt by approximately 64% to $5,256,379.
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Heritage Cannabis Announces Balance Sheet Transforming Sale Lease Back Transaction and Third Amendment to its Senior Secured Loan

Rhea-AI Summary
Heritage Cannabis Holdings Corp. has entered into binding agreements to sell its real estate properties in Ontario and British Columbia for a net purchase price of $9,714,475 and lease them back. The lease terms include a 12-month free rent period, representing approximately $1,389,000 of savings. The purchase price will be used to reduce the company's remaining term debt by approximately 64% to $5,256,379. The remaining term financing has been extended until January 31, 2025, and the company retains its revolving line of credit of up to $5,000,000. The existing warrant certificates held by BJK will be amended to extend the expiry date and reprice the exercise price. CEO David Schwede is thrilled with the agreement as it reduces the company's debt and positions Heritage for further growth.
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Heritage Cannabis Officially Begins Sales in the Recreational Market in the State of New York

Rhea-AI Summary
Heritage Cannabis Holdings Corp. has officially commenced recreational product sales in the state of New York. The company's RAD branded vape and concentrate products are now available in New York, marking the third state where Heritage's brands are sold. The New York market is projected to be valued at over $4 billion within five years.
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Heritage Cannabis Announces the Purchase of an Additional Extraction Machine, Doubling its Hydrocarbon Processing Capacity and Adding EU GMP Extraction Capabilities

Rhea-AI Summary
Heritage Cannabis Holdings Corp. announces procurement of EU GMP certified extraction machine to double hydrocarbon processing capacity.
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Heritage Cannabis Reports Q3 2023 Financial Results

Rhea-AI Summary
Heritage Cannabis Holdings Corp. reports continued year-over-year growth in revenue and gross margin, with a 47% increase in gross margin over Q3 2022. Sales in Missouri and West Virginia combined reached over $3.2 million. Cost of sales decreased by 10.6% in Q3 2023. The Company recorded a comprehensive loss of $1,061,856 for the quarter. Heritage has entered the recreational cannabis market in New York and the cannabis-infused beverage market in Canada. They also shipped their first purchase order to Australia. Financial statements are available on SEDAR+.
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Heritage Cannabis Enters the Québec Market with Initial Products from its Pura Vida Brand to be Listed with Société québécoise du cannabis

Rhea-AI Summary
Heritage Cannabis Holdings Corp.'s Pura Vida products approved for listing by SQDC in Quebec, expanding distribution across Canada.
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Heritage Cannabis Announces Appointment of Interim Chief Financial Officer

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