Welcome to our dedicated page for HERITAGE CANNABIS HLDGS news (Ticker: HERTF), a resource for investors and traders seeking the latest updates and insights on HERITAGE CANNABIS HLDGS stock.
Heritage Cannabis Holdings Corp. (HERTF) provides investors and industry observers with essential updates through this centralized news hub. Track official press releases, strategic developments, and operational updates from the cannabis-focused asset management company.
Discover timely information about corporate restructuring initiatives under the Companies' Creditors Arrangement Act (CCAA), portfolio optimization efforts, and regulatory compliance milestones. This resource aggregates earnings announcements, asset transaction details, and management commentary to support informed market analysis.
Key updates include production capacity changes, partnership developments, and financial restructuring progress. The curated collection serves as a reliable reference for understanding HERTF's position within evolving cannabis markets and its approach to operational resilience.
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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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
