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Heritage Cannabis subsidiary Cannacure wins industrial hemp license from Health Canada

The license will allow Cannacure to bulk store and sell industrial hemp, flowering heads, leaves or branches to other license holders

Heritage Cannabis Holdings Corp. - Heritage Cannabis Holdings Corp subsidiary Cannacure Corporation wins industrial hemp license from Health Canada
The hemp license took effect April 3 and is good until April 3, 2023

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCMKTS:HERTF) announced Monday that its subsidiary Cannacure Corporation has been granted an industrial hemp license by Health Canada.

The industrial hemp license, which took effect on April 3 and runs until April 3, 2023, will allow Cannacure to bulk store, sell industrial hemp, flowering heads, leaves or branches to other license holders, and to import and export grain.

"Receiving our industrial hemp license provides a key advantage for Cannacure as it allows for the purchase and storage of greater quantities of hemp, supporting further extraction opportunities to participate in the rapidly growing hemp and CBD markets,” said CEO Clint Sharples in a statement. 

READ: Heritage Cannabis brings in C$4 million in 1Q revenue

"This license allows Heritage to further leverage the existing facility infrastructure at Cannacure and is part of our path to successfully building better capacity for our cannabis company," he added.

Toronto-based Heritage Cannabis currently has two Health Canada approved licenced producers through its subsidiaries Voyage Cannabis Corp and CannaCure Corp, both regulated under the Cannabis Act Regulations. 

Working under these two licences, Heritage has two additional subsidiaries, Purefarma Solutions, which provides extraction services, and a Medical Services Division, which is focused on cannabis-based medical solutions. 

Heritage, as the parent company, provides the resources for its subsidiaries to advance their products or services to compete both domestically and internationally.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: Heritage Cannabis Holdings Corp.

Price: 0.185 CAD

CSE:CANN
Market: CSE
Market Cap: $87.64 m
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Full interview: Heritage Cannabis subsidiary receives industrial hemp...

Heritage Cannabis (CSE: CANN) CEO Clint Sharples joined Steve Darling from Proactive Vancouver with news their subsidiary Voyage has received their hemp handlers license from Health Canada. Sharples talks about what that means moving forward and also about why he decided to buy more shares in...

on 04/24/2020

2 min read