HERITAGE CANNABIS HLDGS - HERTF STOCK NEWS

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.

Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) reported a year-over-year revenue growth of 125% for the fiscal year ended October 31, 2022, reaching $41,996,297. Quarterly gross revenue increased to $11,148,059, a 56% rise compared to $7,132,942 in Q4 2021. Despite a net comprehensive loss of $26,895,045 for Q4, losses decreased from $42,685,990 in the same period last year. Cost management led to a significant improvement in gross margins, up from $(2,680,629) to $426,112 for Q4. The company continues to face challenges from industry regulations.

Heritage Cannabis Holdings Corp. has appointed Eoin Hegarty as Chief Operating Officer and Cory Larsen as Chief Commercial Officer, while Dan Phaure remains Chief Financial Officer. These promotions reflect Hegarty and Larsen's contributions towards the company's strategic expansion in Canada and the U.S. CEO David Schwede expressed optimism about their leadership capabilities in driving growth within the North American cannabis market. Heritage Cannabis, renowned for its diverse product offerings under various brands, operates licensed facilities in Canada.

Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) has issued 7,253,985 common shares at $0.03 per share as part of its Bonus Program for employees, rewarding them for their performance in the 2022 fiscal year. This move complies with the Canadian Securities Exchange's minimum price rule and aims to preserve the company's cash while incentivizing staff. CEO David Schwede noted that the company experienced significant growth despite challenging market conditions and emphasized the importance of rewarding employee contributions.

Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) has commenced sales in Missouri, marking its second U.S. state operation, with full revenue ramp-up expected by year-end 2023. The company has successfully completed its first production run, offering products such as RAD distillate vapes and live resin. Following the legalization of recreational cannabis in Missouri, projected sales could reach US$550 million in the first year and US$900 million by year four. This expansion is part of Heritage's strategy to capture market share through partnerships with local license holders.

Heritage Cannabis Holdings Corp. (OTCQX: HERTF) is well-positioned to benefit from the legalization of cannabis in Missouri, which is projected to generate up to $550 million in sales in the first year. Following the vote for Amendment 3, which allows recreational sales, Heritage plans to aggressively engage retailers and consumers to capture market share. The company has begun operations in Missouri in partnership with 3Fifteen, aiming to leverage its established brands for high-margin revenue. This market expansion is significant given the Missouri market potential, estimated to be 25% of Canada's cannabis market.

Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) reports a 3.3% increase in Q3 sales to $10.7 million, marking its 8th consecutive growth quarter. The company has launched new products across multiple Canadian provinces and is expanding its U.S. presence. Recent partnerships include a distribution agreement with Golden Triangle Health for the Thai market. Heritage leads in Canadian recreational concentrate sales and is strengthening its brand portfolio. CEO David Schwede emphasizes long-term sustainable growth and new revenue streams from U.S. expansion.

Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) announced an equity line of credit agreement with Obsidian Global Partners, allowing the purchase of common shares for up to US$20 million. An initial fee of 1.5% will be paid upon closing, with an additional fee due after half the offering is drawn. The proceeds will fund corporate needs. The Investor's ownership is capped at 9.99% of shares. CEO David Schwede highlighted this equity financing as a sign of the company's growth and market recognition.

Heritage Cannabis Holdings Corp. has launched its first product shipment in the U.S., specifically to dispensaries in West Virginia. This marks a significant milestone for the company, with initial products including RAD distillate vapes. Collaboration with Harvest Care Medical has facilitated this expansion, as they hold processing and cultivation licenses. Heritage aims to leverage this opportunity for high gross margin revenue, especially in light of potential U.S. cannabis decriminalization. The company is actively working on developing more products for the U.S. market.