Heritage Cannabis Holdings Corp HERTF

Healthcare Cannabis

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.

PINL:HERTF - Post by User

Heritage Cannabis Holdings Corp > Found this the other day.

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Comment by mdjbrownon Apr 10, 2024 11:28am

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Post# 35981269

RE:Found this the other day.

Someone should be asking questions as it appears BJK is happy to take on Heritages assets after calling in the debt. Tough for any company with thin margins to pay 17.2% interest. Nice of them to act as a stalking horse purchaser!

"When the companies initially obtained the loan in 2021, it had an initial interest rate of 3.7%. Subsequent amendments eventually increased the interest rate to 17.2% effective August 1, 2023."

"BJK demanded payment of its debt on April 1. It has agreed to provide a DIP loan and act as stalking horse purchaser, subject to court approval."

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