Toronto – (work wire) – Heritage Cannabis Holdings Corp (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”) is pleased to announce a relationship with Harvest Care Medical, LLC, (“Harvest Care”), a leading grower, processor, and provider of cannabis products High-quality medical in West Virginia, with ten dispensary licenses, two of which are currently in operation. Harvest Care was granted one of ten cultivation licenses last year and will contribute to the use of the license for the relationship, allowing Heritage to produce brand-name products to be offered to medical cannabis consumers in West Virginia.
Similar to Heritage’s relationship in Missouri, under the agreement, Heritage will supply production equipment to Harvest Care as well as provide training and oversight for employees on proprietary methods for extracting and manufacturing Heritage developed and branded products. The relationship will provide convenient shelf allocation for Heritage-branded products at Harvest Care’s West Virginia dispensaries. Production equipment is currently being installed at the Harvest Care facility and is expected to be operational by September.
West Virginia’s Medical Cannabis Act was signed into law in 2017 and the state saw its first legal medical sales in the fall of 2021. Total sales in West Virginia are expected to grow to $40 million by 20251.
“We are very pleased to sign this transaction with Harvest Care, a recognized leader in West Virginia and the right partner for Heritage to expand into the United States given the assets in a capital efficient manner,” said David Schwede, CEO of Heritage. “We continue to grow our revenue channels and diversify Heritage beyond a market that has been weakened by this challenging regulatory environment that has seen far-reaching impacts on cash flow in the space. We believe that in an early stage, less competitive market like West Virginia, we can successfully bring Heritage’s branded offerings to this market. We see huge upside potential in our expansion strategy and its positive impact on profitability.”
About Heritage Cannabis Holdings Corp.
Heritage Cannabis is a leading cannabis company providing innovative products to both the legal and recreational cannabis markets in Canada and the United States, operating under two licensed manufacturing facilities in Canada. The company has a wide range of quality cannabis products under the Purefarma, Pura Vida, RAD, Premium 5 and Feelgood brands. And the CB4 range of medicinal products in Canada and ArthroCBD in the United States
On behalf of the Board of Directors of the Cannabis Heritage Holding Company.
David Shwedy, CEO
The Canadian Stock Exchange neither approved nor rejected the contents of this press release.