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Heritage Cannabis Receives Purchase Order to Ship First Live Resin Products to Australia
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) has secured a purchase order for 15,000 Live Resin concentrate vape cartridges from a prominent Australian company. This follows Heritage's recent acquisition of import permits, paving the way for product shipment to Australia, a market projected to reach US$1.55 billion by 2024, according to Prohibition Partners. CEO David Schwede highlighted the company's growing global recognition and increasing interest from international buyers, noting the significance of concentrates in Heritage's product line and its execution and innovation capabilities.
Positive
Secured a purchase order for 15,000 vape cartridges, signaling strong demand.
Received import permits for shipping to the Australian market.
Projected growth of the Australian cannabis market to US$1.55 billion by 2024.
Increased interest from international buyers indicates expanding market presence.
Negative
None.
Heritage continues to build on its revenue channels through its product and brand recognition globally
TORONTO--(BUSINESS WIRE)--
Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), is pleased to announce that it has received a purchase order from a well established Australian company for the supply of 15,000 units of Live Resin concentrate vape cartridges. Heritage recently received import permits allowing the Company to ship products to this growing market.
The Australian market, while still in its infancy operating largely as a medical cannabis market, could grow to as large as US$1.55 billion by 2024 according to Prohibition Partners, and Heritage, the first company to ship live resin to Australia, is looking to capture market share with its innovative industry leading products.
“Heritage is becoming a well-known entity around the globe for our best-in-class concentrate products as evidenced by this order. We are experiencing an increased amount of requests for our concentrates from other international buyers,” said David Schwede, CEO of Heritage. “Our concentrates are our bread and butter, and we have the execution, innovation and quality that people are looking for. This is the start of a strong and growing relationship and we are excited to be capitalizing on this market opportunity, with additional shipments already in the preparation phase. With our superior products we are confident that our trademark resins will be well received down under.”
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.
