Heritage Cannabis Holdings Corp (CNSX:CANN) Launches BrightLife Sciences Ltd
Heritage Cannabis Holdings Corp (CNSX:CANN) (OTCMKTS:HERTF) (FRA:2UE) CEO Clint Sharples expects the company to beginning oil production in March. While Heritage is still waiting on its Health Canada licenses, the company’s stock has doubled in the last three weeks. Heritage announced the creation of a new subsidiary, BrightLife Sciences Ltd, which will further Heritage’s medical cannabis goals. Sharples shares that the company’s first cannabis crop at its Fort Erie facility was successful and 24,000 square feet of the site have been built out. The Fort Erie facility also includes 30,000 square feet of dedicated extraction space and 60,000 square feet for addition production and manufacturing of products like edibles. Sharples indicates Heritage is open to partnerships and has received considerable interest for Phase 3 agreements.
Narrator: Heritage Cannabis Holdings Corp. operates a holding company which cultivates, sells and distributes medical cannabis in Canada.
The company currently has two Health Canada approved licensed producers through its subsidiaries, PhyeinMed Inc. and Cannacure Corp., both of which are regulated under the Cannabis Act regulations.
Heritage Cannabis is focused on advancing its scale and technology footprint to compete both domestically and internationally.
Heritage Cannabis Holdings Corp. trades on the CSE under the ticker symbol CANN.
James West: Back here now with Clint Sharples, CEO of Heritage Cannabis Holdings, trading on the CSE under the symbol CANN. Clint, welcome back.
Clint Sharples: Great, always good to be here.
James West: Full disclosure: I’m a shareholder in the company.
Clint Sharples: So am I.
James West: Yes [laughter] So tell me, Clint: the stock, I just want to point this out to you lovely people watching at home, that the stock has doubled in the last, call it 75 days or so? And –
Clint Sharples: The last 25 days, yeah.
James West: 25 days? What has caused the stock price to double?
Clint Sharples: Well, more people are buying than are selling.
James West: [laughter] Wow, that’s genius! Who’d have thought.
Clint Sharples: Yeah, you know, a few things, I would imagine, are driving a – hold on, I’m being told I’m not mic’d up probably.
James West: Yeah, you’re not on. So more buyers than sellers, that’s always a solid argument, a solid explanation for why the stock is higher or lower, rather. But –
Clint Sharples: So my best joke that I’m going to do this entire interview was account on this? Great.
James West: Go again. So what’s the best joke that you’ve got for this interview?
Clint Sharples: No, that was it.
James West: [laughter] More buyers than sellers, but why are there more buyers than sellers?
Clint Sharples: More buyers are starting to get on us; people are understanding. I mentioned it this weekend: you know, we’ve been talking a lot about what we’re going to do, and now people are seeing that we’re doing it. We’re no longer a good story, we’re now a good plan, a good company.
Clint Sharples: A lot of people on board, we’ve been naming a lot of our top executives, new people coming on board. People are doing what they’re supposed to be doing, they’re executing on what they’re supposed to be executing on.
James West: Sure.
Clint Sharples: And it’s amazing, when you start performing as a company, how many people get interested in owning you.
James West: Right. So you’re about to start producing a lot of extract?
Clint Sharples: Yeah, yeah, we hope so. We’ve got a few plans for beginning here in March; still waiting for our license. We’re, our business plan is calling for it sometime by the middle of March. Fingers crossed it’s this week, we don’t know – Health Canada never lets us in on those little secrets that they have. I wish they would, but it’s a matter of –
James West: Yeah, it’s too bad you’re not growing mushrooms; they keep you in the dark.
Clint Sharples: [laughter] Great. So my best joke just got topped by you, that’s great.
James West: I don’t know if that qualifies as being topped, but…
Clint Sharples: That’s great.
James West: So somebody’s been accumulating the stock, obviously you’ve got some believers out there.
Clint Sharples: We do.
James West: What is the near-term milestones besides, obviously, the beginning of oil production in March?
Clint Sharples: Well, in March we’re sort of the kickoff of just about everything that we’re planning on doing. We put out a news release this morning that seemed to excite a few people, on BrightLife Sciences, our medical division. It’s been on the plans now for the better part of six months; if anyone saw that we released news back in, I believe it was October, bringing Dr. Chris Spooner onboard. We brought him on with the understanding that we would pave the way and clear the way for him to bring forward his ideas on the commercialization of his knowledge of the cannabis industry, and how it relates to medical.
And that’s something that’s always been a key component of what we’re looking at doing. We want formulations for just about everything CBD-related; I shouldn’t say CBD, it’s CBD, CBG, CBN, a whole bunch of things that I’m learning about this business, too. Natural health products; anything that can go direct to patient, anything supplied direct to patient.
We’re looking at partnering with people. We don’t need to be the experts; we would like to partner with experts and become a real true source to go to for medical cannabis as well as everything else we’ll be doing. March obviously starts our world in extraction. We’ll be starting it out in British Columbia, processing away on our own hemp. We are also looking at taking the talents of the guys that we have in our Pure Pharma group, who are currently training an army of people to run these extraction machines, not just for us, but we’re looking to partner, looking to do third party extraction and do services for others. Hopefully you’ll be hearing more about that soon, too.
James West: You bet. How about your cannabis growth profile? How’s that shaping up right now?
Clint Sharples: With cannabis, the grow that we’re doing right now, we’ve done some grow here locally at the Fort Erie facility. We’ve paused between our first and our second one, as we’re installing a bunch of extraction units and we have a lot of people trudging in and out, so you don’t want to do that while cannabis is present.
James West: Right.
Clint Sharples: Once that’s done and it’s set up, which should be next week, week after, we are going to do another grow. We are looking at a few alternatives on exactly what we will be growing, and in which rooms. First one was a success; it wasn’t large, we don’t have a lot of quantity, that wasn’t our goal. Our goal was to shake things out and prove things up, and it did. They did a great job.
James West: Right. And you took delivery of a large quantity of hemp?
Clint Sharples: Well, we’re partners with a group out of Saskatchewan who has 1,600 acres. They have 50,000 kilograms of dried hemp sitting there in Saskatchewan; I shouldn’t say 50,000, they actually have more than 50,000. They continue to add this, as the Saskatchewan group is continuing to acquire from other sources. We bring in hemp from the Saskatchewan cooperative; they acquire the hemp from people within their cooperative or outside, who meet the proper quality specs.
James West: So the cooperative has 1,000 acres under cultivation of hemp?
Clint Sharples: 1,600, yes.
James West: 1,600 hectares.
Clint Sharples: That’s right. Acres.
James West: Acres. Okay, so that’s still, is that the largest hemp-growing collective in Canada?
Clint Sharples: I don’t actually know. I don’t think so, but –
James West: I don’t know of anything bigger than 500 acres at this point. But that’s collectively over a couple of properties?
Clint Sharples: That’s right, yeah. There’s a group within Saskatchewan; actually, we were planned out a little bit over 3,000 acres for next year, or I should say for this year, 2019. We’ll be planting over 3,000 acres plus looking at the people we’re looking at partnering with right now, and bringing hemp in right now from other sources. They’ll be joining our group.
So you know, we’re looking for a significant part of this for our own, that’s our own oil supply, let alone the stuff that we can do for other LPs.
James West: Interesting. So with the economics of extraction, if you’re concentrating on CBDs from hemp, does the hemp have a lower ratio of, a lower content of CBD, relative to other strains? Or is all hemp CBD-rich?
Clint Sharples: No, there’s a wide range of hemp, so Health Canada has only approved certain strains for grow in Canada. They are looking at expanding that range to allow for a more API, more active product ingredient-rich product. We’re looking forward to that; the higher the API, up to a certain point, it’s obviously more efficient for us to process.
James West: So the higher the cannabinoid content, the lower cost per input of output, correct?
Clint Sharples: Should be, until you hit an inflection point, and then it becomes a problem; starts gumming the machine up because it’s too much. So there’s a happy area in there.
James West: Ohhhh.
Clint Sharples: I won’t even begin to talk about that, I’m not that kind of expert, but we employ them.
James West: Sure.
Clint Sharples: So yeah, these guys are always targeting a particular range, and that’s what they’re looking at for what they would like to see.
James West: Yeah, interesting. The CBD product sort of craze that has engulfed the planet now, because CBDs are obviously a lot easier to approve, both for medical and recreational reasons, or call it therapeutic non-medical reasons, because they’re low psychotropic activity. People say none, but I happen to know that’s not quite true; it’s just very low, and doesn’t affect your overall awareness on a day to day basis.
Is that craze enough to carry all of the cannabis companies that are rushing into the space, into, you know, the next wave of the industry’s growth? Like, my question is, is there room enough for all of these companies who are rushing to put out CBD only at this point?
Clint Sharples: So, two things: number one, yes. And the second thing, psychotropic, you just said that and it flowed off your tongue; I’m extremely impressed.
James West: [laughter] Well, that’s because I’m a psychotropic guy, come on.
Clint Sharples: That’s amazing.
James West: It’s from deep and vast experience in that realm.
Clint Sharples: Just stuck in my head, there’s no way I could have said that that quickly and continued on. [laughter] So yeah, the demand is unbelievable right now. We’re being asked every day for CBD oil; there’s nowhere near enough hitting the markets. A lot of it depends on where the market’s going and who’s the market going to be allowed to affect, but right now, the amount of CBD-based products or the amount of other products that CBD is being talked about being added into, right now, like, there’s talk out there that there’s just not going to be capacity in Canada to be able to supply all of this.
A lot of it depends on where it goes. For an example, our facility down in Fort Erie is a large one, 122,000 square feet. We have 24,000 built out. We have another 30,000 square feet that’s being dedicated to our new extraction, or dedicated extraction facility, which is going to be a very large extraction facility, which leaves us about 60,000, 65,000 square feet to do other things.
When you’re talking about the edibles, infusions, or just about any other product, that’s part of that. And we’re getting people coming out of the woodwork talking about wanting to partner with us as part of this Phase III, enough so that we’ve had to call a time out. We’ve got criteria set up and we’re evaluating with whom we’re going to partner, and that won’t be just one, it’ll be several, like we flip between 5 and 10, and have several different products coming in. And most, if not all, of them are focused on the CBD-based aspect. A few, obviously, on THC for the recreational products that they can have, and we’re happy to abide by that, too. But it’s difficult to find product or extract right now.
James West: Okay, great, Clint. Well, that’s an awesome update. We’re going to come back to you, of course, very soon; congratulations on the progress, thanks for joining me today.
Clint Sharples: Well, we’re hoping for a good next couple of weeks, so keep an eye out.
James West: You bet!
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