Heritage Cannabis Holdings says Q2 revenues soar 250% quarter-over-quarter; provides operations update

Staying true to its distribution strategy, Heritage reports strong growth in shelf space for its brands, combined with increased product distribution across Canada

Heritage also provided a regional breakdown for its Canadian operations

Heritage Cannabis Holdings Corp said it has started 3Q in a ‘strong’ position, thanks to a profitable second quarter, when the cannabis company posted a 250% quarter-over-quarter increase in revenue compared to the first quarter of 2021. 

Staying true to its distribution strategy, Heritage reports strong growth in shelf space for its brands, combined with increased product distribution across Canada. 

As some of Canada’s key markets reach saturation, this milestone was of special importance, as noted in the statement: “Many companies are seeing a contraction in shelf space across the country, given the crowded landscape.” 

READ: Heritage Cannabis sees dramatic jump in fiscal 2Q profit and revenue fired by its six brands

Heritage also provided a regional breakdown for its Canadian operations.

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Heritage Cannabis Holdings says 2Q revenues soar 250% quarter-over-quarter; provides operations update

Staying true to its distribution strategy, Heritage reports strong growth in shelf space for its brands, combined with increased product distribution across Canada

Heritage also provided a regional breakdown for its Canadian operations

Heritage Cannabis Holdings Corp said it has started 3Q in a ‘strong’ position, thanks to a profitable second quarter, when the cannabis company posted a 250% quarter-over-quarter increase in revenue compared to the first quarter of 2021. 

Staying true to its distribution strategy, Heritage reports strong growth in shelf space for its brands, combined with increased product distribution across Canada. 

As some of Canada’s key markets reach saturation, this milestone was of special importance, as noted in the statement: “Many companies are seeing a contraction in shelf space across the country, given the crowded landscape.” 

READ: Heritage Cannabis sees dramatic jump in fiscal 2Q profit and revenue fired by its six brands

Heritage also provided a regional breakdown for its Canadian operations.

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Heritage Cannabis 2nd Quarter results show revenue rising by 251%

Heritage Cannabis (CSE: CANN – OTCQX: HERTF) CEO Clint Sharples joined Steve Darling to share news the company saw a very good 2nd quarter in which revenue jumped by 251% over Q1. The company bringing in 4.6 million compared to 1.8 million in the first quarter of 2021.

Sharples talks about the strong numbers and cash position for the company he also brought news, Heritage’s products will soon be in Newfoundland and Labrador.

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Heritage Cannabis sees dramatic jump in fiscal 2Q profit and revenue fired by its six brands

For the quarter ended April 30, 2021, the cannabis products company reported revenue that was up 251% to $4.6 million, compared to $1.8 million in the fiscal first quarter of 2021

Heritage has significantly expanded its product portfolio to now include concentrates, vapes, topicals, edibles and dried flower

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) has posted fiscal second-quarter results that delivered strong profits and revenue growth fired by the growing popularity of the company’s portfolio of six brands.

For the quarter ended April 30, 2021, the Toronto-based cannabis products company reported revenue that was up 251% to $4.6 million, compared to $1.8 million in the fiscal first quarter of 2021. The firm also saw its fiscal 2Q revenue jump by 338% year-over-year.  

The company said the revenue expansion had been propelled by Heritage’s enlarged product portfolio which now includes concentrates, vapes, topicals, edibles and dried flower. “Provincial re-order rates and market penetration continue to see positive trends,” it noted.

READ: Heritage Cannabis is pioneering the seed-to-sale cannabis model

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Heritage Cannabis to bring its brands to Quebec for the first time via agreement with Great White North Growers

The cannabis company signed the deal with GWNG to bring Heritage-branded products including oils, concentrates, flower and its new CBD brand to the province using GWNG’s Health Canada license

Quebec is the third-largest cannabis market in Canada

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) has said it is bringing its cannabis products to Quebec thanks to a new agreement with Great White North Growers.

The cannabis company signed the deal with GWNG to bring Heritage-branded products including oils, concentrates, flower and its new CBD brand to the province using GWNG’s Health Canada license.

Based in Montreal, GWNG produces premium cannabis flowers and derivatives and packages and distributes products for other licensed producers.

READ: Heritage Cannabis launches its new frozen cannabis edible product RADsicles

“When it comes to sales, Quebec is the third-largest market in Canada, and while Heritage products are largely available across Canada, this was an important market for us to address, and our agreement with GWNG will expedite our presence in the province,” David Schwede, Heritage’s president of recreational said in a statement.

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Heritage Cannabis getting ready for summer launching the RADsicle freezie

Heritage Cannabis (CSE: CANN – OTCQX: HERTF) CEO Clint Sharples and President of Recreational David Schwede joined Steve Darling from Proactive to share news the company has launched a new product called RADsicle. This an edible freezie available in the flavours Blue Raspberry, Cherry, Cream Soda, and Grape.

The company is also announcing they are in the final development stages to launch five additional products this summer including Live Rosin Concentrate, Live CBD Concentrate, and Softgel Capsules, as well as RAD Reefer and Doobies.

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Heritage Cannabis launches its new frozen cannabis edible product RADsicles

The blue raspberry, cherry, cream soda, and grape-flavoured RADsicles will soon be available for purchase at provincial boards and retailers

In addition to RADsicles, Heritage Cannabis is set to launch five more products this summer, including Live Rosin Concentrate, Live CBD Concentrate, and Softgel Capsules, as well as RAD Reefer and Doobies

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) (FRA:2UE) announced the introduction of RADsicles, the company’s new cannabis edible ‘freezie’ just in time for summer.

The company said the blue raspberry, cherry, cream soda, and grape-flavoured RADsicles will soon be available for purchase at provincial boards and retailers, as it has already shipped the first products to the Ontario Cannabis Store.

“Heritage is proving itself to be a leader in product innovation which is keeping our consumers returning for multiple repeat purchases,” Heritage Cannabis President of Recreational David Schwede said in a statement.  

READ: Heritage Cannabis receives cannabis research licence from Health Canada

"We continue to develop disruptive products using our unique processes and technologies in the extract and extract derivative categories, keeping Heritage products at the forefront of consumer choice,” Schwede added.

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Heritage Cannabis receives cannabis research licence from Health Canada

The licence will allow Heritage to conduct research, analysis and trials for the assessment and development of its portfolio of differentiated medical and recreational cannabis products

The company said the licence is an "exciting milestone" as it prepares to launch its products and brands in the US market

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) (FRA:2UE) announced  its wholly-owned Voyage Cannabis Corp subsidiary has received its cannabis research licence under Health Canada’s Cannabis Act and Cannabis Regulations.

Heritage said the licence will allow it to conduct research, analysis and trials for the assessment and development of its growing portfolio of differentiated medical and recreational cannabis products. 

“At Heritage we are at the forefront of product innovation and providing recreational and medical cannabis consumers with products they want. Our innovation team now has the competitive advantage it needs to continue to employ best practices in product evaluation, and tailor products that complement our already popular line of extracts and extract derivatives,” Heritage Cannabis Holdings CEO Clint Sharples said in a statement.

READ: Heritage Cannabis acquires recreational cannabis group Bloom Brands 

“This is an exciting milestone for Heritage as we prepare to launch our products and brands in the US market following the completion of our recently announced acquisition of Bloom Brands in the US,” Sharples added.

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Heritage Cannabis expansion into U.S. takes big leap with acquisition of Bloom Brands in California

Heritage Cannabis (CSE: CANN – OTCQX: HERTF) CEO Clint Sharples joined Steve Darling from Proactive to share news the company has entered into a non-binding letter of intent to purchase all shares of California based Bloom Brands.

Sharples telling Proactive Bloom Brands does things differently in California operating a hybrid business model where brands are owned in California and licensed to partners in New Mexico, Oklahoma, Nevada, Arizona, and Washington.

Sharples says this allows a more cost-effective and rapid new market launch approach to capture early shelf space.

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Heritage Cannabis acquires recreational cannabis group Bloom Brands

The company said the merger will provide it with an immediate market footprint in California, New Mexico, Oklahoma, Washington, Nevada, and Arizona

Bloom will receive around US$15 million in Heritage shares as part of the deal

Heritage Cannabis Holdings Corp () () (FRA:2UE) said it has signed a non-binding letter of intent to purchase California-based Bloom Brands, a collection of recreational cannabis brands.

Under the terms of the agreement, Bloom will receive around US$15 million in Heritage shares in two tranches, one of US $7.5 million in shares at a deemed value of C$0.14 each followed by a second tranche of shares six months after closing at a deemed value of either C$0.16 per share, or a 15% discount to the 15-day volume-weighted average price, whichever is greater.

WATCH: Heritage Cannabis secures bigger order from Saskatchewan Weed Pool while listing products on CannMart

The deal also includes potential milestone payments of up to an additional US$17 million of Heritage shares, which will be contingent on Bloom achieving certain financial targets over a 12-month period.

Heritage said the acquisition will provide it with an immediate market footprint in California, New Mexico, Oklahoma, Washington, Nevada, and Arizona and also immediately creates a revenue-generating US platform solidifying its cannabis strategy to establish its distribution platform in nine states.

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Heritage Cannas secures bigger order from Saskatchewan Weed Pool while listing products on CannMart

Heritage Cannabis (CSE: CANN – OTCQX: HERTF) CEO Clint Sharples joined Steve Darling from Proactive to share news the company has received an expanded order from Weed Pool Cannabis Co-operative in Saskatchewan. The order includes 31 additional SKUs soon to be available to consumers.

Sharples talked about that order and also the facts their products including all five of the Heritage brands -- Purefarma, Pura Vida, Premium 5, feelgood and RAD will be available for purchase on the CannMart on-line platform.

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Heritage Cannabis secures bigger order from Saskatchewan Weed Pool while listing products on CannMart

Heritage Cannabis (CSE: CANN – OTCQX: HERTF) CEO Clint Sharples joined Steve Darling from Proactive to share news the company has received an expanded order from Weed Pool Cannabis Co-operative in Saskatchewan. The order includes 31 additional SKUs soon to be available to consumers.

Sharples talked about that order and also the facts their products including all five of the Heritage brands -- Purefarma, Pura Vida, Premium 5, feelgood and RAD will be available for purchase on the CannMart on-line platform.

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Heritage Cannabis set to offer 31 additional products to consumers in Saskatchewan

Heritage Cannabis said Saskatchewan’s Weed Pool Cannabis Co-operative is boosting its offering in the province to include Premium 5, RAD and feelgood-branded products

Heritage said its products have been gaining recognition across Canada as leaders in the extract and extract derivatives categories

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) (FRA:2UE) said it has received an expanded order from Saskatchewan’s Weed Pool Cannabis Co-operative for an additional 31 stock keeping units (SKUs) that will soon be available to consumers in that province. 

Heritage Cannabis said the Weed Pool co-operative is boosting its offering in the province to include Premium 5, RAD and feelgood-branded products following its initial order for the company’s Purefarma and Pura Vida products in November. 

“Heritage has continued to see growing interest and awareness of its brands in Saskatchewan since products first hit the shelves late last year. Our product quality and value pricing are what sets us apart from other products being offered in Saskatchewan and across Canada,” Heritage Cannabis Holdings CEO Clint Sharples said in a statement. 

READ: Heritage Cannabis is pioneering the seed-to-sale cannabis model

“We are happy to see the progressive vision of Weed Pool and we are confident that they and their retailing partners will be truly impressed with these additional products,” Sharples added.

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Heritage Cannabis teams with CannMart to offer its brands online

Medical cannabis consumers now will have easy access to its 45 SKUs across all five Heritage brands

With this initial order, CannMart will carry the widest variety of Heritage brands available in one place throughout Canada

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) (FRA:2UE) announced that its products are available for purchase on the CannMart online platform.  

CannMart, a subsidiary of Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) (FRA:M5BQ), is a Health Canada-licensed desktop and mobile portal that gives cannabis consumers with medical authorization, the flexibility to buy products quickly with convenient delivery options. 

Heritage CEO Clint Sharples said medical cannabis consumers now will have easy access to its 45 SKUs across all five Heritage brands, including RAD which recently achieved No. 1 in category sales in a number of provinces. The other brands are Purefarma, Pura Vida, Premium 5, and feelgood.

READ: Heritage Cannabis launches its premium ArthroCBD softgel capsules in the US market

“Our goal at Heritage is to offer high-quality, reasonably priced products that align with our customer’s needs,” Sharples said in a statement. “With this initial order, CannMart will carry the widest variety of Heritage brands available in one place throughout Canada, including more selection than any one province.”

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Heritage Cannabis launches its premium ArthroCBD softgel capsules in the US market

The company said ArthroCBD is a line of scientifically proven CBD oil capsules formulated using patented VESIsorb technology

The launch marks the first of a pipeline of over seven new medicinal hemp-based CBD product offerings planned by Heritage

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) (FRA:2UE) has announced the launch of ArthroCBD, an innovative hemp brand created to help people seeking “symptomatic relief.”

Clinically tested ArthroCBD, is a softgel capsule with 25 mg of CBD and 6 mg of Beta caryophyllene. It is formulated using VESIsorb technology, which boosts absorption, compared to other oral CBD products on the market, said the company.

The improved absorption levels result in “rapid onset of action and long-lasting relief,” Heritage Cannabis added. ArthroCBD has all traces of THC removed to avoid the adverse effects people sometimes suffer from other hemp-based products. The new product line is now available on arthrocbd.com.

READ: Heritage Cannabis expands into the US with its 3Fifteen Primo Cannabis partnership

“We are excited to launch our clinically tested ArthroCBD softgel capsules for those seeking daily relief from physical strain. Physicians, pharmacists, and other health care practitioners all want the same thing – to provide the best treatment for patients with the least side effects. ArthroCBD now provides that option with a highly effective hemp-based CBD product,” said Umar Syed, president of medical products at Heritage Cannabis in a statement.

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Heritage Cannabis takes big step into U.S. with 5 year deal with 3Fifteen Primo Cannabis in Missouri

Heritage Cannabis (CSE: CANN- OTCQX: HERTF) CEO Clint Sharples joined Steve Darling from Proactive to share news the company agreed to a 5 year five-year partnership with 3Fifteen Primo Cannabis. 3Fifteen operates with five dispensary licenses of which two are in operation and three are in construction phase the state of Missouri.

Sharples discusses that move into the market and he also shares with Proactive about another key milestone, the launch of their e-commerce US medical site arthrocbd.com.

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Heritage Cannabis expands into the US with its 3Fifteen Primo Cannabis partnership

Under the agreement, Heritage will supply production equipment and staff training to 3Fifteen while being granted shelf space for its branded products in 3Fifteen’s Missouri dispensaries

Heritage Cannabis said it expects Missouri to be a blueprint for its state-by-state expansion

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) (FRA:2UE) announced a five-year partnership with Como Health LLC, doing business as 3Fifteen Primo Cannabis, which will see Heritage produce branded products for medical cannabis consumers in the US state of Missouri. 

Under the partnership agreement, Heritage will supply production equipment to 3Fifteen, provide training and supervision of staff on its proprietary methods of extraction and oil production, and shelf minimums with be granted for Heritage’s branded products in 3Fifteen’s Missouri dispensaries.  

“With strong market growth projected in Missouri, we believe this is the right time to enter the US and with a strategic partner like 3Fifteen, we are creating a blueprint we can use to continue our state-by-state expansion,” Heritage Cannabis Holdings President of Recreational Cannabis David Schwede said in a statement. 

READ: Heritage Cannabis taps Merida Capital to accelerate its US product distribution initiative

“With our extraction expertise and inspired branding capabilities, along with 3Fifteen’s impressive market penetration, we expect Heritage’s branded offerings to be in high demand,” Schwede added.

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Heritage Cannabis subsidiary CannaCure wins amended sales license for sale of dried cannabis products

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

In May, the company will add dried cannabis products to its large portfolio, beginning with the introduction of items under its popular RAD brand

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. 

READ: Heritage Cannabis taps Merida Capital to accelerate its US product distribution initiative

“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.

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Heritage Cannabis expands agreement with Merida that includes U.S. Distribution

Heritage Cannabis (CSE: CANN- OTCQX: HERTF) CEO Clint Sharples joined Steve Darling from Proactive to share details the company has expanded its relationship with Merida Capital Holdings. Merida, the largest non-insider investor in Premium 5, became a strategic shareholder in Heritage back in January of 2021.

Sharples telling Proactive this expanded agreement will give Heritage distribution into the U.S. with the focus to start initially in Michigan, Missouri, West Virginia and California.

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Heritage Cannabis taps Merida Capital to accelerate its US product distribution initiative

Heritage Cannabis shareholder Merida Capital will help introduce Heritage’s brands and products into select states, where medical and/or recreational cannabis is legal, or soon expected to be

Heritage Cannabis said its US distribution is the start of a number of strategic pursuits planned to drive higher profitability

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) (FRA:2UE) said it has expanded its relationship with Merida Capital Holdings to rapidly advance Heritage’s US product distribution strategy. 

Merida, a strategic shareholder in Heritage Cannabis, will help introduce Heritage’s brands and products into select states where medical and/or recreational cannabis is legal, or soon expected to be, starting with Michigan, Missouri, West Virginia, and California. 

“Entering the US cannabis market with a clear path and strong partner is a pivotal and transformational moment for Heritage. The work done over the past three months with integrating Premium 5, increasing working capital and removing restrictive lending covenants has laid the foundation for today’s announcement,” Heritage Cannabis President David Schwede said in a statement. 

READ: Heritage Cannabis is pioneering the seed-to-sale cannabis model

“We are excited to reveal more of our vision to create shareholder value through this accretive expansion. Further, our growing relationship with Merida underscores the strength of the business and will accelerate our state-by-state expansion and access to nine purposefully selected US markets, including the initial four we’re targeting immediately,” Schwede added.

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