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 Holdings Corp. has procured an EU GMP certified extraction machine that will double the company's hydrocarbon processing capacity. This will allow for increased international sales of cannabis derivative products to countries such as Germany, the United Kingdom, and Australia. The company has also experienced increased demand for its products in Canada and the United States.

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TORONTO--(BUSINESS WIRE)-- Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQB: HERTF) (“Heritage” or the “Company”), is pleased to announce the procurement of an EU GMP certified extraction machine to be added to the existing fleet of extractors which will double the Company’s hydrocarbon processing capacity. The extractor has the capacity to add 3,600,000 grams of cannabis processing and is EU GMP certified – a global standard for manufacturing practices - allowing for increased international sales of Heritage’s cannabis derivative products to countries such as Germany, the United Kingdom, Australia, and others as cannabis legalization continues to expand across the globe.

Heritage has been enjoying an increased demand for its products both across Canada, and the United States where the Company has already launched products in New York, Missouri, and West Virginia. This new extractor will help to boost production in order to meet the growing Canadian retail demand, as well as create supply to enter global markets as demand for EU GMP certified extracts grows internationally. Additionally, Heritage has been actively pursuing and participating in the vibrant B2B market and amping up production of extracts will support this important and growing sector of the market.

“Doubling our hydrocarbon production is very timely for Heritage and a significant opportunity to add high margin revenue streams to our business. Heritage has proven that we have no goal posts when it comes to growing into new markets,” said David Schwede, CEO of Heritage. “As we continue to see growth in domestic demand for our products and increased overall demand for EU GMP certified extracts across the globe, this investment positions us to capitalize on these tremendous and ever-expanding opportunities.”

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, Adults Only, 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/20231011179394/en/

Kelly Castledine

Tel: 647-660-2560

Source: Heritage Cannabis Holdings Corp.

FAQ

What is the purpose of the EU GMP certified extraction machine?

The extraction machine will double Heritage Cannabis Holdings Corp.'s hydrocarbon processing capacity.

Which countries will benefit from increased international sales of cannabis derivative products?

Countries such as Germany, the United Kingdom, and Australia will benefit from increased international sales of Heritage's cannabis derivative products.

Where has Heritage Cannabis Holdings Corp. experienced increased demand for its products?

Heritage Cannabis Holdings Corp. has experienced increased demand for its products in Canada and the United States.