The vertically integrated cannabis specialist has been able to control costs and will offer consumers Pura Vida products in the mid-$30 range
Heritage Cannabis Holdings Corp (CSE:CANN) (CNSX:CANN.CN) (OTC:HERTF) announced on Tuesday that it will launch its Pura Vida brand full spectrum Sativa, Indica and Hybrid Honey oil vape cartridges in the British Columbia, Alberta and Manitoba adult-use cannabis markets in July.
The cannabis specialist recently bought Pura Vida, an award-winning legacy cannabis brand recognized for superior tinctures, concentrates and vape cartridge products. Pura Vida’s vapes are created by using carefully extracted oils from high quality, hand-selected cannabis flower.
Heritage said its extraction subsidiary, Purefarma Solutions' proprietary extraction process produces “a full plant vapeable product that preserves the distinctive strain specific flavour,” without the need for potentially harmful back-added terpenes, flavours or carrier oils, resulting “in a true full spectrum experience.”
As a vertically integrated cannabis company, Heritage has designed its internal processes to take the product from manufacturing directly to consumer channels, decreasing traditional distribution costs. “This allows Heritage to offer Pura Vida products in the mid-$30 range for a 500 mg cartridge, which makes it very competitive versus other cannabis companies,” the company said in a statement.
READ: Heritage Cannabis purchases legacy cannabis brand Pura Vida
Chris Pearson, the vice president of sales and marketing at Heritage noted that the Pura Vida branded products were being launched at a price that consumers have been demanding.
“They are only the first of a portfolio of brands and products being launched by us in the coming months. As consumer preferences have been trending toward high-value products, vertically integrated companies like Heritage can produce products that maximize margin performance, without sacrificing the quality of the offering," he said.
Pura Vida won the first prize for its THC and CBD extract products in the 2016 Emerald Cannabis Cup. It has tasted similar success and wins over the years at the High Times Cannabis Cup and 2018 Emerald Cannabis Cup.
On June 4, Heritage said it had acquired the Pura Vida brand and trademark for C$75,000, to be satisfied by the issue of 500,000 shares in the company at a value of C$0.15 each. Pura Vida founder Brandon Kitcher joined Heritage to facilitate the launch and growth of the brand in the Canadian market.
The company said Pura Vida will be marketed primarily as its recreational offering and will complement the launch of its Purefarma medicinal and recreational brand.
Heritage owns two Health Canada approved licensed producers, Voyage Cannabis and CannaCure, as well as two other subsidiaries, Purefarma, which provides extraction services, and a Medical Services Division which is focused on cannabis-based medical solutions.
Contact the author Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive
