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HERITAGE CANNABIS HLDGS - HERTF STOCK NEWS

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Heritage Cannabis Holdings Corp. is a leading Canadian cannabis company with a focus on cultivation, extraction, and product distribution. The company operates multiple subsidiaries under the Heritage Group, offering a diverse range of cannabis products to the market. Heritage is known for its innovative approach to cannabis cultivation and its commitment to quality and sustainability.

With a strong presence in the Canadian cannabis market, Heritage Cannabis Holdings Corp. continues to expand its product offerings and distribution channels. The company's recent announcement of a sale and investment solicitation process demonstrates its strategic approach to navigating the evolving cannabis industry landscape.

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Heritage Cannabis Holdings Corp. (HERTF) reported record financial results for Q2 2021, with revenue soaring to $4.6M, a 251% increase from Q1 2021 and 338% year-over-year. Gross profit reached $1.5M, enhancing gross margins to 32%. SG&A costs as a percentage of revenue fell to 66%. The company boasts strong financial standing with $25.3M in net working capital and $11M cash as of April 30, 2021. Heritage is expanding its brand portfolio and distribution capabilities, targeting the U.S. recreational market. Recent operational shifts indicate promising growth prospects for the upcoming quarters.

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Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) has signed a service agreement with Great White North Growers Inc., enabling the sale and delivery of its cannabis products in Quebec. This partnership allows Heritage to quickly enter Quebec's significant market, expanding its presence beyond existing sales in Canada. Products, including oils, concentrates, and a unique live CBD offering, will be introduced under various brands like Pura Vida and Premium 5. This move is expected to enhance Heritage's recognition and distribution in a key province.

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Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) has launched RADsicles, a new edible freezie product available in four nostalgic flavors: Blue Raspberry, Cherry, Cream Soda, and Grape. The first shipment has been completed to the Ontario Cannabis Store, with plans to expand availability to other provinces shortly. Additionally, Heritage is finalizing five more products, including Live Rosin Concentrate and Softgel Capsules, aiming for a summer rollout. CEO David Schwede emphasizes the company's commitment to innovation and consumer trends in the competitive cannabis market.

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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.

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Heritage Cannabis Holdings Corp. (OTCQX: HERTF) announced a non-binding letter of intent to acquire Bloom Brands for approximately USD$15 million in common shares. This all-share transaction involves two tranches, with potential milestone payments of up to USD$17 million based on Bloom's financial performance. Bloom, a recognized brand in the U.S. cannabis market, reported revenues of USD$11.4 million in fiscal 2020 and operates in multiple states. The acquisition aims to strengthen Heritage's U.S. presence and product distribution across North America.

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On June 1, 2021, Heritage Cannabis Holdings Corp. announced a non-binding letter of intent to acquire Bloom Brands for approximately USD$15 million in common shares. The acquisition aims to enhance Heritage's market presence in North America, as Bloom boasts a recognized brand with revenues of USD$11.4 million in fiscal 2020. The deal includes potential milestone payments of up to USD$17 million based on Bloom's financial performance. The transaction, expected to close by the end of July, emphasizes Heritage's strategy to solidify its distribution in seven states and expand its product offerings.

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ArthroCBD, a subsidiary of Opticann, has launched a campaign to debunk common misconceptions about arthritis, affecting over 54 million adults in the U.S. The campaign will reveal findings from their recent studies, highlighting that 94% of patients experience frequent pain and most are dissatisfied with current treatments. While 97% of arthritis patients are interested in CBD products, only 15% have tried them. ArthroCBD aims to provide effective relief through well-researched CBD treatments, focusing on safety and efficacy as key patient priorities.

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Heritage Cannabis Holdings Corp. (CSE: CANN)(OTCQX: HERTF) announces an expanded order from Weed Pool Cannabis Co-operative in Saskatchewan, adding 31 new SKUs of its products. Weed Pool, representing over 50% of licensed cannabis sales in the province, will now offer Heritage’s Premium 5, RAD, and feelgood. products, alongside existing Purefarma and Pura Vida brands. CEO Clint Sharples noted growing interest and recognition for Heritage's product quality and competitive pricing.

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Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) has announced that its products, featuring all five brands—Purefarma, Pura Vida, Premium 5, feelgood., and RAD—are now available for purchase on the CannMart online platform. This partnership allows consumers with medical cannabis authorization across Canada to access 45 SKUs easily. CEO Clint Sharples highlighted the achievement of RAD becoming #1 in category sales in several provinces and emphasized Heritage's commitment to high-quality, reasonably priced products. The company operates two licensed manufacturing facilities in Canada.

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ArthroCBD, a new hemp brand, has launched clinically tested softgel capsules designed for symptomatic relief. Each capsule contains 25 mg of CBD and 6 mg of Beta caryophyllene, featuring VESIsorb® technology that enhances absorption by 4.4 times compared to typical CBD products. This formulation aims to provide rapid and long-lasting relief without THC. Available in 45 and 90 counts for $129.99 and $179.99 respectively, a limited 15 count trial size is offered at $39.99. ArthroCBD is part of a larger portfolio of over seven upcoming medicinal hemp-based products from Opticann.

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FAQ

What is the current stock price of HERITAGE CANNABIS HLDGS (HERTF)?

The current stock price of HERITAGE CANNABIS HLDGS (HERTF) is $0.0014 as of August 27, 2024.

What is the market cap of HERITAGE CANNABIS HLDGS (HERTF)?

The market cap of HERITAGE CANNABIS HLDGS (HERTF) is approximately 3.5M.

What is Heritage Cannabis Holdings Corp. known for?

Heritage Cannabis Holdings Corp. is known for its focus on cultivation, extraction, and product distribution in the Canadian cannabis market.

What subsidiaries does Heritage Cannabis Holdings Corp. operate?

Heritage Cannabis Holdings Corp. operates multiple subsidiaries under the Heritage Group, offering a diverse range of cannabis products to the market.

What recent announcement did Heritage Cannabis Holdings Corp. make?

Heritage Cannabis Holdings Corp. recently announced the commencement of a sale and investment solicitation process in respect of the business and assets of the Heritage Group.

What sets Heritage Cannabis Holdings Corp. apart in the cannabis industry?

Heritage Cannabis Holdings Corp. stands out in the cannabis industry for its innovative approach to cultivation, commitment to quality, and sustainability efforts.

How is Heritage Cannabis Holdings Corp. navigating the evolving cannabis industry landscape?

Heritage Cannabis Holdings Corp. is strategically approaching the evolving cannabis industry landscape by expanding its product offerings and distribution channels.

What is the significance of the Companies' Creditors Arrangement Act (CCAA) for Heritage Cannabis Holdings Corp.?

The ongoing proceedings under the Companies' Creditors Arrangement Act (CCAA) provide Heritage Cannabis Holdings Corp. with a framework for restructuring and addressing financial challenges.

What regions does Heritage Cannabis Holdings Corp. operate in?

Heritage Cannabis Holdings Corp. operates primarily in the Canadian cannabis market, with a strong presence in cultivation, extraction, and product distribution.

What values does Heritage Cannabis Holdings Corp. prioritize in its operations?

Heritage Cannabis Holdings Corp. prioritizes values such as innovation, quality, and sustainability in its cannabis cultivation and product offerings.

How does Heritage Cannabis Holdings Corp. contribute to the cannabis industry?

Heritage Cannabis Holdings Corp. contributes to the cannabis industry by offering a diverse range of products, maintaining high quality standards, and adapting to market trends.

What growth strategies is Heritage Cannabis Holdings Corp. implementing?

Heritage Cannabis Holdings Corp. is implementing growth strategies such as expanding product lines, exploring new distribution channels, and engaging in strategic partnerships within the cannabis industry.

HERITAGE CANNABIS HLDGS

OTC:HERTF

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HERTF Stock Data

3.47M
868.29M
14.03%
Drug Manufacturers - Specialty & Generic
Healthcare
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United States of America
Kelowna