Partnership focused on profitability and expansion of Heritage branded flower products across Canada
TORONTO, October 19, 2021–(BUSINESS WIRE)–Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), is pleased to announce it has signed a joint venture sales and processing agreement (the “Agreement“) with Noble Growth Corp. (“Noble”), a cannabis cultivator focused on creating beneficial strains that contain sought after cannabinoid, flavonoid, and terpene profiles for both recreational and medical usage.
Founded by a group from the legacy market, high quality craft flower has been the ethos of Noble since its inception. All premium flower is hand crafted, hand trimmed and finished to perfection to fill the void in the current Canadian Craft flower market
Under the Agreement, Noble will be producing some of their highly sought after cultivars for Heritage to strategically expand its presence in the premium dried flower markets across the nation under the RAD Reefer Reserve and Pura Vida Legacy brands. Noble currently houses over 300+ Pheno hunted genetics in tissue culture boasting high THC and Terpene levels and rare genetics that customers are looking for.
“Heritage has reached top 10 status in Canada at a rapid pace in the concentrate, vape and oil categories and we are excited to replicate this success in the flower category. With this joint venture with Noble we are focused on market penetration and profitability. Heritage now has access to Noble’s rare-genetics that will be used to create our top-shelf products, including RAD Reefer Reserve and Pura Vida Legacy branded flower,” stated David Schwede, CEO of Heritage. “This Agreement along with Noble’s amazing genetics will contribute to expanded market share for our brands in the flower category – the largest category in Canada – and contribute to our existing strong revenue streams and higher margin business”.
“We’re very stoked to be growing for a group of true industry people, brands like Pura Vida and RAD are what this industry needs. We are happy to see our product hitting provincial shelves and being able to make a notable impact in the continued improvement of flower quality in Canada,” stated Gavin Delainey, Head of Cultivation for Noble.
Heritage Cannabis is a leading cannabis company offering innovative products to both the medical and recreational legal cannabis markets in Canada and the U.S., operating under two licensed manufacturing facilities in Canada. The company has an extensive portfolio of high-quality cannabis products under the brands Purefarma, Pura Vida, RAD, Premium 5, feelgood, CB4 suite of medical products in Canada and ArthroCBD in the US.
ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
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