Heritage Cannabis Holdings Corp (OTCMKTS:HERTF) reported revenues of CAD 1.827 million (down 54.41% YoY) in Q1 2021.
The positive impact of Premium 5
CEO of Heritage, Clint Sharples, said the results in Q1 2021 do not comprise the positive impact created by the takeover of Premium 5 and the introduction of medical products. Clint further said the company will maintain positive growth momentum in both recreational and medical product divisions with the addition of Premium 5 in Canada.
Imminent launch of Purefarma in the US
Heritage expects to introduce its Purefarma and Pura Vida brands in the multi-billion dollar US market soon to drive growth and offer rich rewards to the shareholders.
Bags first order from Weed Pool
Heritage received the first order from Weed Pool Cannabis Cooperative on November 2, 2020, to supply its products in the Saskatchewan province.
The SLGA licensed cannabis wholesaler -Weed Pool, which holds independently owned cannabis retailers in the Saskatchewan province, represents over 50% of the cannabis licensed sales. Weed Pool provides cam products for retailers and its members in the province.
Signs an accord with AGLC
Heritage entered an agreement with AGLC (Alberta Gaming, Liquor & Cannabis) on November 18, 2020. As per the terms of the deal, AGLC will market the products of Heritage like CBD Earth vape cartridges, Hybrid Honey Oil vape cartridges, and Pura Vida CBD 4:1 Honey Oil in Alberta.
Accepts the resignation of MNP LLP
Heritage announced accepting the resignation of its former auditor – MNP LLP, on December 8, 2020.
Signs a deal to sell CBD products in Brazil
Heritage signed a distribution and sale agreement with CannaBR Exports Corp on December 15, 2020. As per the terms of the accord, Heritage will approach Brazil Health Authority through CannaBR for approvals for the bulk sale and distribution of cannabis products in Brazil.
Expands the US supply and distribution accord
Heritage expanded its supply and distribution agreement in the US with Geocann LLC for topical and oral cannabinoid products that use VESIsorb® delivery system technology for improved absorption and therapeutic benefits. The expanded accord now comprises Canadian strategic market channels.
Heritage signed a distribution/ supply pact through its subsidiary – Opticann, in 2020 to sell its topical and oral CBG and CBD products to the retailers like Walmart, Costco, Kroger, and CVS in the US.
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