HERITAGE CANNABIS HLDGS - HERTF STOCK NEWS

Heritage Cannabis Holdings Corp. (OTCQX: HERTF) has secured a purchase order from a Brazilian pharmaceutical company for the wholesale distribution of CBD products, which are now approved by the Brazil Health Authority (ANVISA). This marks a significant advance as these products are among the first to receive such approval. Following prior successful testing shipments, the company is positioned for its first full shipment. CEO David Schwede emphasized the importance of expanding globally and mentioned ongoing efforts to establish a long-term supply agreement that may include THC products once fully legalized in Brazil.

Heritage Cannabis Holdings Corp. reported its financial results for the quarter ended January 31, 2023, revealing gross revenue of $9,446,995, a decline from $9,596,141 in the same quarter of 2022. The company noted a net revenue of $6,323,412, down from $6,541,211, impacted by pricing adjustments from provincial boards. While operating costs decreased to $4,272,251, the company faced a comprehensive loss of $2,762,960 compared to a comprehensive income of $6,257,213 in the prior year. Despite challenges, the CEO expressed optimism for growth through new product offerings and expanding U.S. operations.

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.