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Heritage Cannabis Holdings Corp. (OTCQX: HERTF) has launched ArthroCBD, a newly developed hemp product designed for symptomatic relief. Each softgel capsule contains 25 mg of CBD and 6 mg of Beta caryophyllene, utilizing VESIsorb® technology for enhanced absorption. This clinically tested product aims to offer effective relief with minimal side effects, eliminating THC to prevent adverse effects common in other hemp products. The launch marks the beginning of a pipeline of over seven new medicinal hemp-based offerings planned by Heritage, which operates licensed facilities in Canada.
Heritage Cannabis Holdings Corp. (OTCQX: HERTF) has formed a five-year partnership with 3Fifteen Primo Cannabis to enter the Missouri market. 3Fifteen, which operates dispensaries and holds a manufacturing license, will collaborate with Heritage to produce and distribute branded cannabis products. Under this agreement, Heritage will supply equipment and training, securing shelf space in 3Fifteen’s dispensaries, which anticipate generating over USD$21 million in gross revenue by 2022. Missouri's cannabis market is projected to reach USD$650 million by 2024.
Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) has announced the issuance of 30,156,643 Common Shares to former shareholders of Premium 5 Ltd. as additional consideration for an acquisition completed on January 26, 2021. This payment addresses Premium 5's excess working capital and is subject to a statutory hold period and lock-up conditions. Additionally, the Company issued 170,000 Common Shares to Prairie Commercial Mortgage Corp. to partially satisfy fees for a brokerage agreement related to refinancing with BJK Holdings Ltd. The shares were issued at a deemed price of $0.1650 each.
Heritage Cannabis Holdings Corp. (OTCQX:HERTF) held its annual general and special meeting on April 16, 2021, where shareholders approved key resolutions. These included the election of five directors, the appointment of Davidson & Company LLP as auditor, and a special resolution for a future share consolidation. Additionally, shareholders approved an increase in shares reserved under the Restricted Share Unit Plan and minor amendments to the Plan. Heritage focuses on producing medical and recreational cannabis products through its subsidiaries in Canada and the U.S.
Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) has received an amended sales license for its subsidiary CannaCure Corp. from Health Canada, effective April 12, 2021. This license permits the sale of dried cannabis products, which represented over 67% of total cannabis sales in Canada in 2020. Starting in May 2021, Heritage will expand its product offerings to include dried cannabis under the RAD brand, aiming to meet consumer demand for high-quality products. CEO Clint Sharples highlighted this development as a significant step in entering a high-volume market.
Heritage Cannabis Holdings Corp. (CSE:CANN) (OTCQX:HERTF) has expanded its partnership with Merida Capital Holdings to enhance U.S. product distribution. This strategic alliance follows Merida's acquisition of a stake in Premium 5, allowing Heritage to introduce its brands in key markets like Michigan, Missouri, West Virginia, and California. CEO David Schwede emphasizes the importance of this collaboration for future profitability and market access. Merida will utilize its network to promote Heritage’s extraction expertise and brand capabilities across its portfolio, fostering significant growth in the cannabis sector.
Heritage Cannabis Holdings Corp. (OTCQX: HERTF) has secured its first order from Cannabis NB to sell its RAD and Premium 5 brands in New Brunswick. This order includes 19 SKUs comprising various cannabis products like RAD Vapes and Full Spectrum Extract. Starting in April, consumers will have access to affordable, high-quality cannabis options. David Schwede, President of the Recreational Division, expresses confidence in strong market reception and a growing customer base for their products.
Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) reported Q1 2021 results with gross revenue of $1,827,273, down from $4,008,395 in Q1 2020. Net revenue also fell to $1,520,616 from $3,631,582 year-over-year. Despite a comprehensive loss of $3,211,082 or $0.01 per share, the company is optimistic about future growth, especially from its Premium 5 acquisition and upcoming medical product launch. The CEO anticipates enhanced market positioning in Canada and the U.S., fueled by innovative brand strategies and distribution agreements.
Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) has secured an 18-month non-revolving loan of $7 million from BJK Holdings Ltd. The loan, initiated on April 1, 2021, requires monthly interest payments based on the Royal Bank of Canada prime rate plus 1.25%, with a one-time setup fee of $965,000. Proceeds will be used to settle existing credit obligations totaling approximately $4.7 million to Trichome Financial Corp. CEO Clint Sharples expressed confidence in the company’s growth and international strategy following this financing.
Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) is launching new medical products in the U.S. using its patented VESIsorb® delivery system. The first product, ArthroCBD softgel capsules, containing 25 mg CBD, is set to release by April 19, 2021. Topical applications targeting health issues like eczema and pain are also nearing launch. The company will present at the NACDS annual meeting to secure retail listings. VESIsorb® technology enhances the bioavailability of cannabinoids, showing significant absorption improvements in studies.
