Proactiveinvestors USA & Canada Heritage Cannabis https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Heritage Cannabis RSS feed en Thu, 18 Jul 2019 01:43:45 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - Heritage Cannabis sign deal to work with Canntab Therapeutics ]]> https://www.proactiveinvestors.com/companies/stocktube/13553/heritage-cannabis-sign-deal-to-work-with-canntab-therapeutics-13553.html Fri, 31 May 2019 16:31:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/13553/heritage-cannabis-sign-deal-to-work-with-canntab-therapeutics-13553.html <![CDATA[News - Heritage Cannabis inks pact with Canntab Therapeutics for capsule manufacturing ]]> https://www.proactiveinvestors.com/companies/news/221244/heritage-cannabis-inks-pact-with-canntab-therapeutics-for-capsule-manufacturing-221244.html Heritage Cannabis Holdings Corp (CSE:CANN)(OTCQX: HERTF) said Thursday that it has inked a pact with Canntab Therapeutics Limited (CSE:PILL.CN) (OTCMKTS:CTABF) for capsule manufacturing.

Canntab has a Health Canada license to cultivate industrial hemp that it uses to extract cannabidiol (CBD) to manufacture cannabis pills.

According to the term sheet, Heritage’s subsidiary Purefarma Solutions will now provide processing services for hemp supplied by Canntab Therapeutics for its ingestible cannabis products.

READ: Canntab Therapeutics hits new milestone with hemp-processing licence from Health Canada

Canntab and Heritage will jointly support each other in relation to the regulatory submissions required to distribute and sell cannabis capsules.

In addition, Heritage will provide strategic support including packaging and distribution.

“Canntab has developed proprietary cannabinoid formulations, and it’s our intention to become an industry leader in oral dosage cannabis,” said Canntab CEO Jeff Renwick. “We view this partnership with Heritage and Purefarma as a critical step in our company achieving our goals.”

Canntab's oral delivery system treats different ailments by delivering a uniform dosage of medicinal cannabis extract.

The agreement will begin immediately and is open-ended subject to a 120-day cancellation notice by either party.

“This agreement with Canntab is a strategic fit for our growth as a contract service provider. It aligns with our vision to operate in final product verticals and advances our offering in the medical cannabis sector,” said Heritage Cannabis Holdings CEO Clint Sharples. “Purefarma’s extraction expertise and ability to provide quality oil is a good match for the high expectations that Canntab has for the products they will be bringing to market.”

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Thu, 30 May 2019 11:36:00 -0400 https://www.proactiveinvestors.com/companies/news/221244/heritage-cannabis-inks-pact-with-canntab-therapeutics-for-capsule-manufacturing-221244.html
<![CDATA[News - Heritage Cannabis to start trading on the OTCQX best market ]]> https://www.proactiveinvestors.com/companies/news/220541/heritage-cannabis-to-start-trading-on-the-otcqx-best-market-220541.html The OTC Markets Group Inc (OTCQX:OTCM) announced Friday that Heritage Cannabis Holdings (CSE:CANN) (OTCQX:HERTF) has qualified to trade on the best market, having been upgraded from the OTC Pink. 

Based in Toronto, Heritage is a cannabis holding company has four synergistic businesses under its umbrella. 

"We are very happy with this upgrade to the OTCQX Market, in particular with our recent expansion plans to enter the U.S. market, beginning with the 30% acquisition of Endocanna Health. This will provide U.S. investors with the opportunity to more easily invest in shares of Heritage," CEO Clint Sharples, CEO of Heritage. "We already have a significant U.S. shareholder base, and we expect this will continue to grow as we expand into the U.S. cannabis market and Heritage becomes more widely recognized."

WATCH: Heritage Cannabis makes major move by acquiring part of DNA testing company

Heritage Cannabis Holdings will begin trading on Monday, May 20, 2019 on OTCQX under the symbol HERTF. 

"Heritage Cannabis Holdings' graduation to the OTCQX Best Market will enable the company to provide more efficient and transparent trading for investors," said Jason Paltrowitz, executive vice president of corporate services at the OTC Markets Group. "Upgrading to OTCQX from the Pink Market marks an important milestone in the U.S. for those international companies that seek to build visibility, liquidity and shareholder value. We are pleased to welcome Heritage Cannabis Holdings to the OTCQX Market."

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

Heritage’s subsidiaries Voyage Cannabis Corp and CannaCure Corp are both Health Canada-approved licensed cannabis producers, while Purafarma Solutions provides extraction services and BriteLife Sciences focuses on the medical market.

Shares of Heritage Cannabis were at C$0.47 on Friday. 

Contact Katie Lewis at katie@proactiveinvestors.com

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Fri, 17 May 2019 18:23:00 -0400 https://www.proactiveinvestors.com/companies/news/220541/heritage-cannabis-to-start-trading-on-the-otcqx-best-market-220541.html
<![CDATA[Media files - Heritage Cannabis makes major move by acquiring part of DNA testing company ]]> https://www.proactiveinvestors.com/companies/stocktube/13373/heritage-cannabis-makes-major-move-by-acquiring-part-of-dna-testing-company-13373.html Wed, 15 May 2019 17:49:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/13373/heritage-cannabis-makes-major-move-by-acquiring-part-of-dna-testing-company-13373.html <![CDATA[News - Heritage Cannabis to acquire stake in DNA-testing cannabis company Endocanna ]]> https://www.proactiveinvestors.com/companies/news/220324/heritage-cannabis-to-acquire-stake-in-dna-testing-cannabis-company-endocanna-220324.html Heritage Cannabis Holdings Corp (CSE:CANN) signed a letter of intent Wednesday to acquire 30% of Endocanna Health Inc in a $3 million deal.

Los Angeles-based Endocanna has created the Endocannabinoid DNA test that uses a saliva sample to identify an individual's genetic variants related to cannabinoid receptors and metabolism.

That data can then be used to guide users' strain and dosage decisions.

WATCH: Heritage Cannabis finishes large fund raise, purchases facility in Ft Erie, Ontario

As part of the deal, the companies will form a joint venture to represent the EndoDNA technology in Canada. The deal is expected to close by June 28. 

"We are excited to be combining our plans for our own Extraction and Medical Sciences divisions with the technology and expertise that Endocanna brings." Chief Science Officer Chris Spooner said. "By utilizing the science-based EndoDNA process, we will be better able to assist patients with selecting and dosing by developing formulations that address the unique pharmacogenomics of individuals."

Heritage is a Canadian cannabis provider focused on becoming a vertically integrated company. It currently owns Voyage Cannabis Corp and CannaCure Corp, two Health Canada-approved cannabis producers.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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Wed, 15 May 2019 08:45:00 -0400 https://www.proactiveinvestors.com/companies/news/220324/heritage-cannabis-to-acquire-stake-in-dna-testing-cannabis-company-endocanna-220324.html
<![CDATA[Media files - Heritage Cannabis finishes large fund raise, purchases facility in Ft Erie, Ontario ]]> https://www.proactiveinvestors.com/companies/stocktube/13306/heritage-cannabis-finishes-large-fund-raise-purchases-facility-in-ft-erie-ontario-13306.html Fri, 10 May 2019 12:13:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/13306/heritage-cannabis-finishes-large-fund-raise-purchases-facility-in-ft-erie-ontario-13306.html <![CDATA[News - Heritage Cannabis exercises option to buy CannaCure’s facility in Ontario ]]> https://www.proactiveinvestors.com/companies/news/220066/heritage-cannabis-exercises-option-to-buy-cannacures-facility-in-ontario-220066.html Heritage Cannabis Holdings Corp (CSE:CANN) announced Friday that it has exercised its option to purchase CannaCure Corp’s facility in Fort Erie, Ontario.

The deal will close in the next 60 days following the terms of the property purchase option agreement.

As a result, the company will acquire the 122,000 square foot facility for the option price of $2.2 million, funded from the proceeds on hand. CannaCure has already transformed nearly 24,000 square feet of licensed space within the facility, with the additional 98,000 square feet ready for Phase 2 extraction and Phase 3 contract manufacturing expansion.

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

The additional space will be outfitted for the company's planned push into edibles, infusions, vaping products, tincture bottling and development of medical formulated products.

"Purchasing the Fort Erie building is important to the stability and the long-term future of our operations," said Heritage Cannabis Holdings CEO Clint Sharples. "The recent completion of our bought deal financing allows us to acquire this property and accelerate the strategy of preparing our company for the new cannabis regulations expected this October."

Based in Toronto, Heritage currently has four businesses under its umbrella that run the gamut from extraction to production.

Heritage’s subsidiaries Voyage Cannabis Corp and CannaCure Corp are both Health Canada-approved licensed cannabis producers, while Purafarma Solutions provides extraction services and BriteLife Sciences focuses on the medical market.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Fri, 10 May 2019 09:16:00 -0400 https://www.proactiveinvestors.com/companies/news/220066/heritage-cannabis-exercises-option-to-buy-cannacures-facility-in-ontario-220066.html
<![CDATA[Media files - Buds & Duds: Cannabis stocks nudge up on Friday; Heritage shares soar after subsidiary strikes marketing deal ]]> https://www.proactiveinvestors.com/companies/stocktube/12992/buds--duds-cannabis-stocks-nudge-up-on-friday-heritage-shares-soar-after-subsidiary-strikes-marketing-deal-12992.html Fri, 12 Apr 2019 15:50:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/12992/buds--duds-cannabis-stocks-nudge-up-on-friday-heritage-shares-soar-after-subsidiary-strikes-marketing-deal-12992.html <![CDATA[News - Heritage Cannabis's subsidiary Voyage Cannabis strikes marketing deal with Cannavolve ]]> https://www.proactiveinvestors.com/companies/news/218511/heritage-cannabis-s-subsidiary-voyage-cannabis-strikes-marketing-deal-with-cannavolve-218511.html Heritage Cannabis Holdings Corp (CSE:CANN) (OTCMKTS:HERTF) told investors Friday that its subsidiary Voyage Cannabis Corp has struck an agreement with Cannavolve Inc to boost its sales of recreational cannabis across Canada.

As part of the deal with this cannabis sales and marketing agency, Voyage will gain better access to a number of provincial cannabis boards, a move likely to improve the marketing of its products across Canada.

READ: Heritage Cannabis shares climb after CannaCure unit nabs processing and medical sales licence

Cannavolve will also work with Voyage to boost retailers’ awareness of its line of cannabis products and to introduce strategies to increase Voyage’s market share.

“With the network support and expertise behind Cannavolve, we believe Voyage can become a top brand within the adult use cannabis industry,” said Debra Senger, CEO of Voyage. “Cannavolve provides us a pathway for widespread retail exposure which will compliment our own medical offerings.”

Headquartered in Vancouver, Heritage is a cannabis provider which owns two producers: Voyage Cannabis Corp and CannaCure Corp.

Heritage shares closed at US$0.38 on Thursday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com 

 

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Fri, 12 Apr 2019 09:07:00 -0400 https://www.proactiveinvestors.com/companies/news/218511/heritage-cannabis-s-subsidiary-voyage-cannabis-strikes-marketing-deal-with-cannavolve-218511.html
<![CDATA[News - Heritage Cannabis unveils plans for $10 million bought financing deal ]]> https://www.proactiveinvestors.com/companies/news/218359/heritage-cannabis-unveils-plans-for-10-million-bought-financing-deal-218359.html Heritage Cannabis Holdings Corp (CSE:CANN) (OTCMKTS:HERTF) unveiled plans for a substantial $10 million bought deal financing on Wednesday. 

The company said funds raised are expected to be used for working capital and general corporate purposes. 

The company said a syndicate of investment dealers, led by Cormack Securities Inc, have agreed to purchase 18.9 million units at a price of C$0.53 per unit and offer them to the public by way of short-form prospectus for gross proceeds of approximately $10 million. 

READ: Heritage Cannabis subsidiary CannaCure installs extraction machines

Each unit comprises one common share and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of C$0.70 for a period of 30 months. 

The closing of the offering is expected on or around May 2, 2019 and is subject to regulatory approval.

The company said that in the event that the volume-weighted average trading price exceeds $1.05 for 20 consecutive trading days following the closing date, the company may accelerate the exercise of the warrants. 

In addition, the company has granted the underwriters an option to purchase up to an additional 15% of the units of the offering on the same terms exercisable at any time up to 30 days following the closing of the offering. 

Shares of Heritage Cannabis were at C$0.59 on Wednesday. 

Contact Katie Lewis at katie@proactiveinvestors.com

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Wed, 10 Apr 2019 18:29:00 -0400 https://www.proactiveinvestors.com/companies/news/218359/heritage-cannabis-unveils-plans-for-10-million-bought-financing-deal-218359.html
<![CDATA[News - Heritage Cannabis subsidiary CannaCure installs extraction machines ]]> https://www.proactiveinvestors.com/companies/news/218342/heritage-cannabis-subsidiary-cannacure-installs-extraction-machines-218342.html Heritage Cannabis Holdings Corp (CSE:CANN) (OTCMKTS:HERTF) announced Wednesday that two Vitalis Q90 extraction machines have been installed at its subsidiary CannaCure’s Fort Erie facility.

The machines are waiting for final manufacturer's certification, expected to be received before the end of April, said the company.

Ontario-based medical cannabis producer CannaCure works closely closely with Purefarma Solutions, another Heritage Cannabis subsidiary, which provides extraction services.

READ: Heritage Cannabis shares climb after CannaCure unit nabs processing and medical sales licence

According to the company, CannaCure will start to receive a portion of Purefarma's hemp feedstock before the end of April, which is stockpiled in Saskatchewan, and start extracting shortly.   

Technicians from Purefarma Solutions are on site working with the quality assurance staff from CannaCure to prepare to accept and process this feedstock, said the company.

Once the oil is produced, it will be sent to independent labs for testing, and the company will need to receive a final inspection from Health Canada before it can be sold.

"Progress continues at a quick pace, and we are busy getting CannaCure's facility prepared for operations," said Heritage Cannabis Holdings CEO Clint Sharples. "The award of CannaCure's processing and medical licence from Health Canada on April 1 allows us to begin extracting oils from cannabis, and provides us with a clear path to implement our phase 2 expansion plan within the Fort Erie facility."

CannaCure will begin its Phase 2 expansion of up to 30,000 sq/ft, to bolster its extraction processing capacity.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Wed, 10 Apr 2019 10:42:00 -0400 https://www.proactiveinvestors.com/companies/news/218342/heritage-cannabis-subsidiary-cannacure-installs-extraction-machines-218342.html
<![CDATA[News - Heritage Cannabis subsidiary adopts Voyage Cannabis as its new name ]]> https://www.proactiveinvestors.com/companies/news/218166/heritage-cannabis-subsidiary-adopts-voyage-cannabis-as-its-new-name-218166.html Heritage Cannabis Holdings Corp (CSE:CANN, OTCMKTS:HERTF) announced Monday that its subsidiary PhyeinMed Inc has changed its name to Voyage Cannabis Corp.

The newly named Voyage, which earned a Health Canada cultivation, processing and medical sales license, expects to be producing cannabis for medical and recreational use by the second quarter of 2019.

Shares of the Vancouver company jumped 1.6% to C$0.65 on the CSE and slipped 0.6% to US$0.48 on OTC Markets.

READ: Heritage Cannabis set to double extraction capacity in Ontario with two new orders

“The adoption of the Voyage name enhances the corporate imaging and supports a consistent brand within the company,” Heritage Chief Strategy Officer Debra Senger said in a statement. “We feel that the name Voyage will resonate with the consumer and will lend itself better to our future brand lines.”

The company is taking an individualized spin on medical cannabis, including working with BriteLife Sciences, to create personalized wellness brands that integrate cannabinoid into people’s daily lives.

Four greenhouses totalling 16,000 square feet have already been built at its Falkland, British Columbia facility. Additional greenhouses are expected in the future, whould would push the square footage to about 95,000.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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Mon, 08 Apr 2019 10:08:00 -0400 https://www.proactiveinvestors.com/companies/news/218166/heritage-cannabis-subsidiary-adopts-voyage-cannabis-as-its-new-name-218166.html
<![CDATA[News - Heritage Cannabis set to double extraction capacity in Ontario with two new orders ]]> https://www.proactiveinvestors.com/companies/news/217777/heritage-cannabis-set-to-double-extraction-capacity-in-ontario-with-two-new-orders-217777.html Heritage Cannabis Holdings Corp (CSE:CANN) (OTCMKTS:HERTF) was back in the news Tuesday as it revealed it would double its extraction capacity at the Fort Erie facility in Ontario with the order of two new systems.

The two Vitalis Q90 extraction systems are due to arrive by the end of May this year and are expected to be operational by July.

READ: Heritage Cannabis shares climb after CannaCure unit nabs processing and medical sales licence​

The Vancouver-based Heritage will then have a total of six Vitalis Q90's machines amongst its subsidiaries, making it one of the largest extractors in the industry.

The move positions the firm to have the capacity to both process its own hemp supply and compete for toll processing jobs that other licensed cannabis firms may look to contract out, it said.

Yesterday (Monday), the group revealed that its subsidiary CannaCure had received its processing and medical sales licence from Health Canada.

Clint Sharples, CEO of Heritage said in a statement: "With this purchase, we will double our extraction capacity at our Fort Erie facility by this summer. We continue to prepare our infrastructure for the upcoming changes to the Cannabis Act to include vaping, edibles and infusions.

"Our extraction team continues to grow as Purefarma Solutions trains more technicians to be deployed across our network. We are confident that we will be able to meet the demand for our products and services as the market expands."

CannaCure and Purefarma Solutions

CannaCure works closely with Purefarma Solutions, another Heritage Cannabis subsidiary, which provides extraction services.

According to the company, CannaCure will start to receive a portion of Purefarma's hemp feedstock, which is stockpiled in Saskatchewan, and start extracting shortly.

CannaCure has a 122,000 sq/ft facility in Niagara, which hosts cultivation space, individual research and development areas, shipping and receiving infrastructure.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Tue, 02 Apr 2019 09:31:00 -0400 https://www.proactiveinvestors.com/companies/news/217777/heritage-cannabis-set-to-double-extraction-capacity-in-ontario-with-two-new-orders-217777.html
<![CDATA[Media files - Heritage Cannabis subsidiary CannaCure get processing and medical cannabis licence ]]> https://www.proactiveinvestors.com/companies/stocktube/12811/heritage-cannabis-subsidiary-cannacure-get-processing-and-medical-cannabis-licence-12811.html Mon, 01 Apr 2019 16:37:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/12811/heritage-cannabis-subsidiary-cannacure-get-processing-and-medical-cannabis-licence-12811.html <![CDATA[News - Heritage Cannabis shares climb after CannaCure unit nabs processing and medical sales licence ]]> https://www.proactiveinvestors.com/companies/news/217684/heritage-cannabis-shares-climb-after-cannacure-unit-nabs-processing-and-medical-sales-licence-217684.html Shares of Heritage Cannabis Holdings Corp (CSE:CANN) (OTCMKTS:HERTF) jumped Monday after it released news that its subsidiary, CannaCure, had received its processing and medical sales licence from Health Canada.

Shares were up 6.1% at C$0.70 in Toronto, and up 4% at US$0.52 in New York on Monday. 

CannaCure is a Fort Erie, Ontario-based medical cannabis producer, which will shortly begin its Phase 2 expansion of up to 30,000 sq/ft, to bolster its extraction processing capacity. 

READ: Buds & Duds: Cannabis stocks moving on a flurry of deals; Harvest One shares soar on deal with Greenbelt

"This licence is a large milestone for CannaCure and one that we are thrilled to have reached in such a short period of time." says Clint Sharples, CEO of Heritage. "CannaCure is on the path of being one of the largest cannabis concentrate manufacturing facilities in Canada. This is key to us as a company to solidify future revenue streams, especially in light of recent regulatory developments allowing edibles, topicals and infusions, which we feel are likely to have a significant impact on the cannabis industry."

Purefarma connection

CannaCure works closely with Purefarma Solutions, another Heritage Cannabis subsidiary, which provides extraction services.

CannaCure has a 122,000 sq/ft facility in Niagara, which hosts cultivation space, individual research and development areas, shipping and receiving infrastructure.

The company said the processing licence is the first step towards CannaCure forming more partnerships in the cannabis derivative space, such as oils, and its Phase 3 expansion, which will allow it to manufacture these products.

According to the company, CannaCure will start to receive a portion of Purefarma's hemp feedstock, which is stockpiled in Saskatchewan, and start extracting shortly. 

Once the oil is produced, it will be sent to independent labs for testing, and the company will need to receive a final inspection from Health Canada before it can be sold.

-- updated share price --

Contact Katie Lewis at katie@proactiveinvestors.com

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Mon, 01 Apr 2019 13:46:00 -0400 https://www.proactiveinvestors.com/companies/news/217684/heritage-cannabis-shares-climb-after-cannacure-unit-nabs-processing-and-medical-sales-licence-217684.html
<![CDATA[Media files - Heritage Cannabis has a model that paves the way for growth in the Cannabis sector ]]> https://www.proactiveinvestors.com/companies/stocktube/12579/heritage-cannabis-has-a-model-that-paves-the-way-for-growth-in-the-cannabis-sector-12579.html Tue, 12 Mar 2019 14:53:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/12579/heritage-cannabis-has-a-model-that-paves-the-way-for-growth-in-the-cannabis-sector-12579.html