Heritage Cannabis Holdings Corp (OTCMKTS:HERTF) has announced that its CannaCure Corp subsidiary has received an amended sales license from Health Canada. The amended license will allow Heritage Cannabis to sell dried cannabis, including pre-rolls and flower directly to territorial and provincial cannabis boards.
CannaCure receives amended sales license
Already Heritage cannabis provided extract and derivative products in Canada through Purefarma, Pura Vida, Feelgood. brands and Premium 5.With the amended license, the company will have an opportunity to address the largest category in the Canadian cannabis market. From May 2021, Heritage will have dried cannabis products available in the Canadian market and begin with the RAD brand introduction.
Clint Sharples, Heritage’s CEO, said that the CannaCure sales license amendment for the sale of dried cannabis in Canada is a massive milestone for the company, and it allows the company to enter a high volume cannabis category and bring newly developed SKUs to consumers across Canadian provinces. He said that the company continues to deliver sought-after and innovative products, and the development of premium quality products is at the heart of the company’s story.
Heritage expands relationship with Merida Capital Holdings
Recently, the company announced expanding its relationship with Merida Capital Holdings to use its strategic companies’ portfolio to expand Heritage’s product distribution strategy in the US. Following Premium 5’s acquisition in January 2021, Merida became a strategic Heritage shareholder since it was the largest non-insider Premium 5 investor.The agreement will enable the company to strategically partner and advance Heritage’s product distribution in the US. The collaboration will see the company introduce its products and brands into various states where recreational and medicinal marijuana is legal.
Heritage’s President David Schwede said that entry into the US market with a strong partner and clear path is a massive and transformational moment. He said that they have done considerable work in recent months integrating with Premium 5, doing away with restrictive lending covenants, and increasing working capital culminating in today’s announcement.