Heritage Cannabis Achieves Approval for Wholesale Importation into Brazil

Rhea-AI Summary

Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) has received approval from Brazil's Health Authority (ANVISA) to import its first formulated CBD product into Brazil. This achievement follows Health Canada granting Heritage the first license to export cannabis products from Canada to Brazil in 2021. With a significant population and a promising market outlook, Brazil presents numerous opportunities for Heritage to expand. The company is also working on two additional products pending final approval. CEO David Schwede emphasizes the strategic importance of this market entry for Heritage's product reach.

Positive

• Approval from ANVISA allows Heritage to import its first CBD product to Brazil.
• Heritage holds the first license from Health Canada for cannabis product exports to Brazil.
• Potential for market growth in Brazil due to a large population and healthy market outlook.

Negative

• None.

TORONTO--(BUSINESS WIRE)-- Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), is pleased to announce that it has met the regulatory requirements and has achieved approval from the Brazil Health Authority (ANVISA) to import its first formulated CBD product into Brazil. Heritage has also achieved stability on two additional products that are awaiting final approval.

In 2021, Health Canada granted Heritage with the first ever license to export cannabis products from Canada to Brazil, and Heritage successfully shipped products to enter the testing phase with ANVISA.

“This is a very important step for Heritage as we continue to expand the reach of our high quality products beyond the borders of Canada,” said David Schwede, CEO of Heritage. “Brazil has a very healthy market outlook due to its large population, and we are poised and in position to leverage our early entry in the market and take advantage of the many opportunities in the CBD product space.”

About Heritage Cannabis Holdings Corp.

Heritage Cannabis is a leading cannabis company offering innovative products to both the medical and recreational legal cannabis markets in Canada and the U.S., operating under two licensed manufacturing facilities in Canada. The company has an extensive portfolio of high-quality cannabis products under the brands Purefarma, Pura Vida, RAD, Premium 5, Thrifty, feelgood., the CB4 suite of medical products in Canada and ArthroCBD in the U.S.

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

“David Schwede”
David Schwede, CEO

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230313005314/en/

For more information:

Kelly Castledine

Tel: 647-660-2560

Source: Heritage Cannabis Holdings Corp.

FAQ

What recent approval did Heritage Cannabis Holdings Corp. receive?

Heritage Cannabis received approval from Brazil's Health Authority (ANVISA) to import its first formulated CBD product.

What is the significance of the Brazilian market for Heritage Cannabis?

The Brazilian market is significant for Heritage due to its large population and healthy market outlook for CBD products.

What was Heritage Cannabis Holdings' first license granted by Health Canada?

Health Canada granted Heritage the first license to export cannabis products from Canada to Brazil in 2021.

What other products is Heritage Cannabis awaiting approval for?

Heritage is awaiting final approval for two additional formulated CBD products.

What stock symbol is Heritage Cannabis Holdings Corp. traded under?

Heritage Cannabis Holdings Corp. is traded under the stock symbol HERTF on OTCQX.