The amended sales license will allow the company to sell dried cannabis products, including flower and pre-rolls, directly to the provincial and territorial cannabis boards
Heritage Cannabis Holdings Corp () () (FRA:2UE) said that its subsidiary CannaCure Corp has been granted an amended sales license by Health Canada from April 12, 2021, for selling dried cannabis products, including flower and pre-rolls, directly to the provincial and territorial cannabis boards.
The Toronto-headquartered company focused on the production and sale of medical and recreational hemp-based and cannabis products, already offers extract and extract derivative products across Canada through its Pura Vida, Purefarma, RAD, Premium 5, and feelgood brands. Heritage said that with the amended license, it will have the opportunity to address the “largest category in terms of revenue in the Canadian cannabis market, topping 67% of total product sales in 2020.”
In the beginning of May, the company will add dried cannabis products to its already expansive portfolio of products, starting with the introduction of items under its popular RAD brand.
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“Having the CannaCure sales license amended by Health Canada to sell dried cannabis is another accomplishment for the Heritage team and allows us to enter a high-volume product category and deliver our newly developed SKUs to consumers across Canada through the provincial and territorial boards, as well as select online consumer platforms,” Heritage CEO Clint Sharples said in a statement.
“Our company continues to deliver innovative and sought-after products. This development is at the core of the Heritage story, and an expanded sales license offers us the flexibility to offer a breadth of high-quality, well-priced products that consumers are seeking across multiple product categories.”
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.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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