TORONTO, June 20, 2023–(BUSINESS WIRE)–Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), is pleased to announce that it has successfully shipped its first order for 15,000 units of Live Resin concentrate vape cartridges to a well-established Australian company. Following on this first shipment, Heritage has received a second purchase order for an additional 15,000 units, which the Company expects to ship this summer.
Heritage holds import permits allowing the Company to ship products to this growing market, and while still in its infancy, the Australian legal cannabis market was valued at US $66.0 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 29.6% from 2023 to 2030 according to Grandview Research. Heritage, now being a supplier of full spectrum concentrates to Australia, seeks to capture market share with its industry leading products.
“Supplying cannabis globally is a focus for Heritage. Countries outside of Canada offer additional revenue streams along with strong margins that provide lucrative opportunities for Heritage and our award winning, best-in-class products,” said David Schwede, CEO of Heritage. “We continue to experience an increased number of requests for our Live Resin, Live Rosin and Honey Oil concentrates from international buyers as our global brand recognition grows. We are thrilled to be building on our Australian relationship and capturing this important piece of the market outside of Canada.”
About Heritage Cannabis Holdings Corp.
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, Adults Only, Thrifty, feelgood., the CB4 suite of medical products in Canada and ArthroCBD in the U.S
ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.
David Schwede, CEO
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.
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