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Heritage Cannabis Holdings Corp C.CANN

Alternate Symbol(s):  HERTF

Heritage Cannabis Holdings Corp. is a Canada-based cannabis company offering products to both the medical and recreational legal cannabis markets in Canada and the United States. It focuses on extraction and the creation of extract and extract-derivative products and brands for adult use and cannabis-based medical solutions. It has a portfolio of cannabis products under the brands Purefarma, Pura Vida, RAD, Premium 5, Thrifty, Adults Only, feelgood., the CB4 suite of medical products in Canada and ArthroCBD in the United States. In Canada, it operates through its subsidiaries, Heritage Cannabis West Corporation (Heritage West) and Heritage Cannabis East Corporation (Heritage East). Heritage West holds a Health Canada issued cultivation, processing, and medical and adult use sales license, as well as an industrial hemp license, a cannabis oil sales license, and a cannabis research license. In the United States, it operates through, Opticann Inc., an oral and topical cannabinoid company.


CSE:CANN - Post by User

Post by KPOIndustrieson May 09, 2019 9:10am
116 Views
Post# 29728092

NEWS!!!!!!

NEWS!!!!!!

Heritage and Zenabis Sign Binding Term Sheet for Mutual Supply Agreement

C.CANN 

(via TheNewswire)

image: https://tnw-c.thenewswire.com/data/tnw/clients/logos/A8vFpgr7.png

 

Vancouver, B.C. / TheNewswire / May 9, 2019 - HERITAGE CANNABIS HOLDINGS CORP. (CSE: CANN) ("Heritage" or "Company") is pleased to announce that it has entered into a binding term sheet effective May 8th, 2019 (the "Term Sheet") that will form the basis for a Mutual Supply Agreement and a Services Agreement (the "Agreements") with Zenabis Global Inc. ("Zenabis") which will see the two companies work collaboratively together for the shared benefit of both organizations.

The Term Sheet calls for Heritage, via its wholly owned subsidiary Purefarma Solutions Inc. ("Purefarma") to provide both toll extraction services and various formulated extracted oil products to Zenabis. Additionally, the Term Sheet will have Zenabis supplying Heritage with dried flower and trim for extraction. This arrangement extends to both British Columbia and Ontario for extraction services, while Zenabis will supply the cannabis product from each of their facilities in New Brunswick, Nova Scotia and British Columbia.

Furthermore, this open-ended Term Sheet includes option for both Heritage and Zenabis to jointly pursue the co-development of formulated CBD distillate, CBD isolate, Liquid oil THC distillate and THC and CBD concentrates. Scientists from Zenabis will look to collaborate with Heritage's medical sciences division to create a series of specialized products which would be marketed directly through various online portals with the intent for those products with regulatory approval being available to the public by summer 2019.

"This is a great opportunity to leverage the strengths of Zenabis and Heritage for the mutual benefit of both companies." states Andrew Grieve, CEO of Zenabis "We look forward to creating something special to bring to the market."

The initial Agreements will see Zenabis deliver a minimum of 500 kg of dried flower and trim to Heritage, and in return Heritage will supply Zenabis with a minimum of 150 kg of CBD or THC extracted distillate, both to be delivered by the end of 2019.

"We are excited to be working with Zenabis in this unique approach. Both companies are projecting significant growth, and this agreement is designed to be scalable to address future needs." says Clint Sharples, CEO of Heritage. "We are off to a strong start in 2019 and have been working diligently to ramp up our capacity to support industry growth."

About Zenabis Global Ltd

Zenabis is a Canadian publicly listed licensed cultivator of medical and recreational cannabis. The company was formed in January, 2019, through the combination of Bevo Agro Inc., one of the largest propagation businesses in North America, and Sun Pharm Investments Ltd., a large privately held licensed cannabis producer with established medical and recreational cannabis brands and distribution. The company owns six state-of-the-art indoor and greenhouse facilities across Canada, four of which are intended for cannabis cultivation. If all four such facilities are fully built out and converted to cannabis production, they would have a design capacity to yield approximately 479,300 kilograms of dried cannabis annually.

About Heritage Cannabis Holdings Corp.

The Company is focused on becoming a vertically integrated cannabis provider that currently has two Health Canada approved licenced producers, through its subsidiaries Voyage Cannabis Corp. and CannaCure Corp. both regulated under the Cannabis Act Regulations. Working under these two licences, Heritage has two additional subsidiaries, Purefarma Solutions, which provides extraction services, and BriteLife Sciences which is focused on cannabis based medical solutions. Heritage as the parent company, is focused on providing the resources for its subsidiaries to advance their products or services to compete both domestically and internationally.

ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.

"Clint Sharples"

Clint Sharples

CEO

For more information contact:

Clint Sharples

Tel: 416-705-8529

csharples@heritagecann.com

or

Elizabeth Thomas

Tel: 905-321-8086

ethomas@heritagecann.com


Read more at https://stockhouse.com/news/press-releases/2019/05/09/heritage-and-zenabis-sign-binding-term-sheet-for-mutual-supply-agreement#L2TPyuS1T3VvS423.99
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