The licence will allow Heritage to conduct research, analysis and trials for the assessment and development of its portfolio of differentiated medical and recreational cannabis products
Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) (FRA:2UE) announced its wholly-owned Voyage Cannabis Corp subsidiary has received its cannabis research licence under Health Canada’s Cannabis Act and Cannabis Regulations.
Heritage said the licence will allow it to conduct research, analysis and trials for the assessment and development of its growing portfolio of differentiated medical and recreational cannabis products.
“At Heritage we are at the forefront of product innovation and providing recreational and medical cannabis consumers with products they want. Our innovation team now has the competitive advantage it needs to continue to employ best practices in product evaluation, and tailor products that complement our already popular line of extracts and extract derivatives,” Heritage Cannabis Holdings CEO Clint Sharples said in a statement.
READ: Heritage Cannabis acquires recreational cannabis group Bloom Brands
“This is an exciting milestone for Heritage as we prepare to launch our products and brands in the US market following the completion of our recently announced acquisition of Bloom Brands in the US,” Sharples added.
The company also noted that it hopes to use the licence to conduct controlled trials of its cannabis extracts, concentrates and oils, including vaporizers, topicals, beverages and edible products, operating from its extraction and manufacturing facility in Falkland, British Columbia, subject to the conditions outlined by Health Canada.
Heritage Cannabis is a vertically integrated cannabis provider that currently has two Health Canada-approved licensed producers, through its subsidiaries Voyage Cannabis Corp and CannaCure Corp, both of which are regulated under the Cannabis Act Regulations.
The company recently acquired Canadian recreational and medical cannabis company Premium 5 Ltd, which Heritage Cannabis expects will make it a leader in the extract and extract derivatives market, as Premium 5 is a premium provider of Cannabis 2.0 hydrocarbon and solventless concentrates in Canada.
Contact Sean at sean@proactiveinvestors.com