Heritage Granted Health Canada Research License

Rhea-AI Summary

Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) has secured a Cannabis Research Licence from Health Canada via its subsidiary, Voyage Cannabis Corp. This licence empowers Heritage to conduct extensive research and controlled trials on a range of cannabis products, including extracts, concentrates, and edibles, from its facility in Falkland, B.C. CEO Clint Sharples emphasized the importance of this milestone for product innovation and the company's upcoming launch in the U.S. market, following the acquisition of Bloom Brands.

Positive

• Secured Cannabis Research Licence from Health Canada, enabling research and trials.
• Enhances product innovation capabilities for medical and recreational cannabis.
• Prepares for expansion into the U.S. market post-acquisition of Bloom Brands.

Negative

• None.

Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), today announced that it has received its Cannabis Research Licence under Health Canada’s Cannabis Act and Cannabis Regulations through its wholly-owned subsidiary, Voyage Cannabis Corp.

This licence allows Heritage to conduct research, analysis and trials for the assessment and development of its growing portfolio of differentiated medical and recreational cannabis products. Subject to conditions outlined by Health Canada, the Company will use this licence to conduct controlled trials of its cannabis extracts, concentrates and oils, including vaporizers, topicals, beverages and edible products, operating from its extraction and manufacturing facility in Falkland, B.C.

“At Heritage we are at the forefront of product innovation and providing recreational and medical cannabis consumers with products they want,” stated Clint Sharples, CEO of Heritage. “Our innovation team now has the competitive advantage it needs to continue to employ best practices in product evaluation, and tailor products that complement our already popular line of extracts and extract derivatives. This is an exciting milestone for Heritage as we prepare to launch our products and brands in the U.S. market following the completion of our recently announced acquisition of Bloom Brands in the U.S.”

About Heritage Cannabis Holdings Corp.

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

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

“Clint Sharples”

Clint Sharples
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/20210607005444/en/

FAQ

What recent development did Heritage Cannabis Holdings Corp. achieve?

Heritage Cannabis received a Cannabis Research Licence from Health Canada.

How will Heritage utilize its new Cannabis Research Licence?

The licence allows Heritage to conduct research and controlled trials on various cannabis products.

What products will Heritage Cannabis research under its new licence?

Heritage will assess cannabis extracts, concentrates, oils, and other products like edibles and beverages.

What is the significance of Heritage preparing to launch products in the U.S. market?

It indicates Heritage's growth strategy and potential revenue expansion following the acquisition of Bloom Brands.

What company is involved in the acquisition mentioned by Heritage Cannabis?

The acquisition is of Bloom Brands, which supports Heritage's expansion into the U.S. market.