Heritage Cannabis Announces Joint Venture Supply and Processing Agreement with Noble Growth Corp.

Rhea-AI Summary

Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) has signed a joint venture agreement with Noble Growth Corp. to strengthen its position in Canada's premium dried flower market. Noble will cultivate sought-after strains for Heritage's RAD Reefer Reserve and Pura Vida Legacy brands. With over 300 genetics known for high THC and terpenes, this collaboration aims to enhance market share and profitability. Heritage has been successful in the concentrate and oil sectors and intends to replicate this success in the flower category, targeting strong revenue streams.

Positive

• Joint venture with Noble Growth Corp. to enhance premium flower offerings.
• Access to over 300 rare genetics from Noble for product development.
• Heritage aims to replicate past success in concentrates and oils within the flower market.

Negative

• None.

Partnership focused on profitability and expansion of Heritage branded flower products across Canada

TORONTO--(BUSINESS WIRE)-- Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), is pleased to announce it has signed a joint venture sales and processing agreement (the “Agreement”) with Noble Growth Corp. (“Noble”), a cannabis cultivator focused on creating beneficial strains that contain sought after cannabinoid, flavonoid, and terpene profiles for both recreational and medical usage.

Founded by a group from the legacy market, high quality craft flower has been the ethos of Noble since its inception. All premium flower is hand crafted, hand trimmed and finished to perfection to fill the void in the current Canadian Craft flower market

Under the Agreement, Noble will be producing some of their highly sought after cultivars for Heritage to strategically expand its presence in the premium dried flower markets across the nation under the RAD Reefer Reserve and Pura Vida Legacy brands. Noble currently houses over 300+ Pheno hunted genetics in tissue culture boasting high THC and Terpene levels and rare genetics that customers are looking for.

“Heritage has reached top 10 status in Canada at a rapid pace in the concentrate, vape and oil categories and we are excited to replicate this success in the flower category. With this joint venture with Noble we are focused on market penetration and profitability. Heritage now has access to Noble’s rare-genetics that will be used to create our top-shelf products, including RAD Reefer Reserve and Pura Vida Legacy branded flower,” stated David Schwede, CEO of Heritage. “This Agreement along with Noble’s amazing genetics will contribute to expanded market share for our brands in the flower category – the largest category in Canada - and contribute to our existing strong revenue streams and higher margin business”.

“We’re very stoked to be growing for a group of true industry people, brands like Pura Vida and RAD are what this industry needs. We are happy to see our product hitting provincial shelves and being able to make a notable impact in the continued improvement of flower quality in Canada,” stated Gavin Delainey, Head of Cultivation for Noble.

About Heritage

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, feelgood, CB4 suite of medical products in Canada and ArthroCBD in the US.

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

“David Schwede”
David Schwede
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/20211019005469/en/

Kelly Castledine

Tel: 647-660-2560

kcastledine@heritagecann.com

Source: Heritage Cannabis Holdings Corp.

FAQ

What is the recent joint venture agreement involving Heritage Cannabis (HERTF)?

Heritage Cannabis has signed a joint venture sales and processing agreement with Noble Growth Corp. to expand its presence in Canada's premium dried flower market.

How will the joint venture with Noble Growth Corp. impact Heritage Cannabis's market share?

The joint venture will allow Heritage to access Noble's rare genetics, contributing to increased market share in the largest product category in Canada.

What brands will benefit from the partnership between Heritage Cannabis and Noble Growth Corp.?

The partnership will enhance Heritage's RAD Reefer Reserve and Pura Vida Legacy brands.

What is the strategic focus of Heritage Cannabis's recent agreement with Noble Growth Corp.?

The strategic focus is on profitability and expanding its presence in the premium dried flower market across Canada.

What are the key attributes of the genetics provided by Noble Growth Corp. for Heritage Cannabis?

Noble offers over 300 high THC and terpene-rich genetic strains that are sought after for both recreational and medical cannabis use.