Definitive agreement to provide extraction expertise to Harvest Care and launch Heritage branded products in West Virginia
TORONTO — Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), is pleased to announce a relationship with Harvest Care Medical, LLC, (“Harvest Care”), a leading grower, processor, and provider of top-quality medical cannabis products in the state of West Virginia, with ten dispensary licenses of which two are currently in operation. Harvest Care was granted one of ten cultivation licenses last year and will contribute the use of the license to the relationship, allowing Heritage to produce branded products to be offered to medical cannabis consumers in West Virginia.
Related: Heritage Cannabis Announces the Launch of Heritage Helps, a New Multi-Faceted Program Focused on the Advancement of the Company’s Environmental and Social Strengths, Highlighting its Commitment to Corporate Social Responsibility
Similar to Heritage’s relationship in Missouri, under the agreement Heritage will supply production equipment to Harvest Care as well as provide training and supervision of staff on the proprietary methods of extraction and manufacturing of Heritage developed and branded products. The relationship will provide favourable shelf allocation for Heritage’s branded products in Harvest Care’s West Virginia dispensaries. The production equipment is currently being installed at Harvest Care’s facility and is expected to be operational by September.
West Virginia’s Medical Cannabis Act was signed into law in 2017 and the state saw its first legalized medical sales in the fall of 2021. Total sales in West Virginia are expected to grow to USD $40 million by 20251.
“We are very pleased to have inked this deal with Harvest Care, one of the established leaders in the state of West Virginia and the right partner for Heritage to expand in the U.S. in an asset light, capital efficient way,” said David Schwede, CEO of Heritage. “We continue to grow our revenue channels and diversify Heritage to extend beyond a market that has been dampened by this challenging regulatory environment that has seen far reaching impacts on cash flow in the space. We believe that in an early-stage, lower competition market like West Virginia, we can successfully bring Heritage’s branded offerings to this growing market and see vast upside potential in our expansion strategy and its positive impact on profitability.”
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, 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.
- Minnesota’s Black cannabis users far more likely to face arrest than white onesBlack Minnesotans are nearly five times as likely to be arrested on marijuana charges as white ones, according to the latest data from the Bureau of Criminal Apprehension. It’s a disparity that has persisted for years, despite data showing that Black and white residents use cannabis at similar rates.
- Lawmakers ask MO governor to add cannabis legalization in special sessionA bipartisan group of lawmakers and activists are calling for Missouri Gov. Mike Parson to include marijuana legalization on the agenda of the legislature’s upcoming special session.
- In Brief: Pa. Governor Accepting Cannabis Pardon Requests in Sept.Pennsylvania Gov. Tom Wolf and Lt. Gov. John Fetterman announce the PA Marijuana Pardon Program, offering expedited pardon reviews to people convicted of only minor cannabis possession for personal use.
- Michigan State Police stops cannabis testing after false positivesMichigan State Police have acknowledged that its blood tests for marijuana are producing false positives for THC, and it will immediately halt testing.
- Missouri Dems expect boost from cannabis, but split on specificsSupport for legalization and heartburn about the amendment’s details have led to soul-searching among Democratic Party officials across the state. The consternation is particularly acute among Black Democratic leaders.
- Signatures on Nebraska medical cannabis petitions to get another lookThe Nebraska Secretary of State’s Office has agreed to take another look at signatures submitted by a group seeking legalization of medical marijuana to determine if they should have been counted.
- Nebraska senator pledges to seek special session to legalize medical cannabisAdvocates for legalization of medical marijuana were pursuing a trio of options Tuesday after their attempt at qualifying the issue for the November ballot fell short.
- Adult-use cannabis unlikely to be on Oklahoma ballot in NovemberThe Yes on 820 campaign faces several obstacles in the last part of its journey to the ballot as another challenge period will last at least 10 business days and the state Election Board needs time to print ballots for overseas voters.
- Lawsuit asks to block cannabis legalization from Missouri ballotAn anti-drug legalization activist has filed a lawsuit arguing a recreational marijuana initiative petition was improperly certified by Missouri Secretary of State Jay Ashcroft and should not appear on the November ballot.
- Cannabis legalization advocates turn THC customers into political alliesNow that Minnesota has legalized hemp-derived THC products as of July 1, proponents of full legalization are activating a new resource in the political battle over the green plant’s future: customers.