Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) (FRA:2UE) updated shareholders Wednesday on a host of new developments related to its recreational brands in Canada and medical products in the US and abroad.
The cannabis company said it had started shipping derivative products under its RAD brand to both BC and Alberta for sale across authorized channels in the provinces.
In addition, the company said it had applied for a flower sales licence from Health Canada to support the planned launch of RAD Reefer and RAD Doobies and submitted other brand SKUs to provincial regulators in eight additional provinces.
The company said it is hoping to see products listed in Quebec by 2Q 2021.
Heritage recently signed two supply agreement for flower, pre-rolls and vapes, as well as tincture oils. The company said it is close to signing additional agreements with two other cannabis companies and attempting to secure a supply agreement with a major Canadian cannabis provider to supply extracts.
“Following the acquisition of Premium 5 by Heritage, our combined entity is picking up the pace on product launches, service agreements, and further innovation and product development to bring Canadian consumers the products they are seeking,” said David Schwede, president of Heritage’s recreational cannabis division.
“Bringing Premium 5 onto Heritage’s platform is already revealing synergies through cost reduction, product innovation, and leveraging the broader infrastructure to produce and ship products efficiently – a benefit that we believe will flow through to our investors.”
On the medical cannabis front, Heritage’s US subsidiary Opticann is preparing an eCommerce launch of ArthroCBD, a 25 mg softgel formulated using VESIsorb, which provides 4.5-times the absorption versus other oral CBD products. Another three topical products formulated with VESIsorb for the treatment of eczema, psoriasis, and local pain are being prepared for launch to reach retail over-the-counter consumers at national retailers like CVS, Walgreens, Rite-Aid, Kroeger, Walmart and Costco. Opticann will present its products and brands at the National Association of Chain Drug Stores annual meeting in late April, with the expectation to launch product sales later this year.
In Canada, Heritage’s medical prescription-based CBD products will be marketed to physicians and clinics and available to patients directly from Heritage. Additionally, Heritage is preparing for the launch of Chyll, an innovative CBD/CBDA filmstrip being produced in partnership with IntelGenx.
“As we prepare to launch our initial suite of products formulated using VESIsorb technology in the US, we continue to innovate and expand our product portfolio with products that use proprietary pharmaceutical technology to enhance performance and are backed by data,” Umar Syed, Heritage’s president, medical division told investors.
“We believe this is the needed approach to reach the vast number of patients, who can benefit from these products but who have never tried these medical alternatives.”
The company is also expanding its market reach internationally through the planned launch of CBD/CBDA filmstrips in Australia and a previously announced agreement with Entourage Phytolabs for the bulk sale of CBD and THC extracts for the Brazilian medical market, Syed added.
Toronto-based Heritage is focused on the production and sale of medical and recreational hemp-based and cannabis-based products and services.
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