Heritage Cannabis Subsidiary Voyage Signs CMO Term Sheet with True North Agri Inc.
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Toronto, ON - TheNewswire - June 30, 2020 - Heritage Cannabis Holdings Corp. (CSE:CANN) (CNSX:CANN.CN) (OTC:HERTF) (“Heritage” or the “Company”), today announced that its subsidiary Voyage Cannabis Corp. (“Voyage”) has signed a term sheet for an agreement with True North Agri Inc. (“True North”) for contract manufacturing services including biomass sourcing and the production of full spectrum cannabis oil and vape cartridge products.
True North selected Heritage as a direct result of its subsidiary Purefarma Solutions’ (“Purefarma”) ability to produce full spectrum cannabis oil products and because of their reputation for using a ‘direct to vape’ process which uses no harmful additives, flavours or carrier oils. This provides Heritage customers with a unique consistency between the strain profile of the biomass and the oil being produced.
Voyage will produce CBD oil, 1-to-1 oil products, THC oil products, and a full spectrum vape cartridge for True North, with all formulation, preparation and packaging procedures performed in compliance with applicable regulations.
“Along with the launch of our own branded products in July, we are pleased to continue advancing our strategy by expanding our contract manufacturing partner relationships which are expected to contribute to improved revenues in the future,” commented Clint Sharples, CEO of Heritage. “As the market continues to evolve, we believe Heritage brings value to our partners through our proprietary cannabis extraction and formulation expertise and industry leading approach to bringing products to market."
“We are pleased to be partnering with Heritage on the launch of our Canadian product line ‘Red Barn Brand’ for our product manufacturing as their unique formulations and direct-to-vape process will facilitate our high-quality products in coming to market,” commented Darren Gill, CEO of True North Agri Inc. “True North Agri is primarily focused on launching hemp derived CBD products through its retail sales network in Canada, US and UK leveraging relationships with processing partners like Heritage to offer premium products at competitive prices.”
About Heritage Cannabis Holdings Corp.
Heritage Cannabis Holdings Corp. is a vertically integrated cannabis company that owns two Health Canada approved licenced producers, Voyage Cannabis Corp. and CannaCure Corp., both of which also have industrial hemp licenses. Additionally, Voyage recently received its sales license from Health Canada, and the Company will be launching its own products in the BC, AB, and MB markets in July 2020, with other provinces to follow. Working under its licenses, Heritage has two additional subsidiaries, Purefarma Solutions, that provides extraction services, and a Medical Services Division which is focused on cannabis based medical solutions. Heritage as the parent company, provides the synergies and resources for its subsidiaries to advance their medical and adult use products and services both domestically and internationally.
ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.
“Clint Sharples”
Clint Sharples
CEO
For more information contact:
Clint Sharples
Tel: 416-705-8529
or
Kelly Castledine
Tel: 647-660-2560
The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information contained herein may include, but is not limited to, assumptions related to cash flow and capital resources, and expectations related to the supply and manufacturing agreements, the intended expansion of the Company, and partnerships and Joint Venture Partnerships.
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An investment in securities of the Company is speculative and subject to several risks including, without limitation, the risks discussed under the heading "Risks and Uncertainties" Factors" in the Company's annual management discussion and analysis for the year ended October 31, 2019 and dated February 28, 2020, as well as the interim management discussion and analysis for the quarter ended April 30, 2018 and dated June 29, 2020. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
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