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Heritage Cannabis reaches hemp processing agreement with Truro Cannabis

The initial deal involves 700 kilograms of hemp biomass

Cannabis leaf and oil in small bottles
"This transaction will see a Heritage subsidiary conduct business outside of Canada for the first time in our company's history," Heritage CEO Clint Sharples said

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCMKTS:HERTF) signed a hemp processing agreement with Truro Cannabis Co, the company announced Thursday.

Truro has enlisted Heritage subsidiary Voyage Cannabis Corp to produce bulk CBD oil or other products from its hemp biomass. The initial deal involved roughly 700 kilograms.

The resulting products will then be sold to purchasers identified by Truro. This may include exporting to the Caribbean, which Voyage obtained a Health Canada permit to do.

READ: Heritage Cannabis Holdings inks supply agreements with cannabis producer Weed Me

"This transaction will see a Heritage subsidiary conduct business outside of Canada for the first time in our company's history, in line with our strategic vision of building a more global platform," Heritage CEO Clint Sharples said in a statement. "We look forward to a long term and expanded relationship with Truro as we operate as their selected extraction and formulation partner to grow both domestically and abroad."

Truro, which obtained its cannabis license from Health Canada in June, is the company name under which 3277991 Nova Scotia Limited does business.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: Heritage Cannabis Holdings Corp.

Price: 0.24 CAD

CSE:CANN
Market: CSE
Market Cap: $113.67 m
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