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Initial shipments of CBD products to commence this week
Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) ("Heritage" or the "Company"), today announced that Health Canada has granted Heritage with the first ever license to export cannabis products from Canada to Brazil.
In December 2020, Heritage entered into an arrangement (the "Arrangement") with CannaBR Exports Corp. ("CannaBR"), a Brazilian focused pharmaceutical CBD product importation and distribution company, for the distribution and bulk sale of formulated CBD products to the Brazilian cannabis market. The Arrangement calls for minimum order quantities agreed to by both parties, to be delivered to CannaBR’s large distribution network in Brazil with the option to establish long-term distribution contracts.
Heritage, in conjunction with CannaBR, has focused on filing and achieving approvals from the Brazil Health Authority (ANVISA) to distribute and sell various formulated CBD products in Brazil and is currently in advanced stages of product testing, enabling it to meet ANVISA’s requirements.
Through its partnership in Brazil, CannaBR already holds an import license, and with Heritage receiving its export license from Health Canada, shipments of CBD products are set to begin within a week with the intention to satisfy the ANVISA requirements. Upon achieving all necessary testing requirements, the Company will commence final negotiations to complete a long-term sales agreement with minimum order quantities.
"We are very pleased to be the first cannabis company in Canada to be granted an export license for Brazil by Health Canada," stated, Clint Sharples, CEO of Heritage. "Our work with CannaBR is the second extension of the Company beyond the Canadian and U.S. markets, and with the Brazilian market projected to grow dynamically over the next five to seven years, we are poised to take advantage of the many opportunities in the premium CBD product space."
About Heritage Cannabis Holdings Corp.
Heritage is a cannabinoid company focused on the production and sale of medical and recreational hemp-based and cannabis-based products and services. In Canada, Heritage operates through its subsidiaries Voyage Cannabis Corp. and CannaCure Corp., both regulated under the Cannabis Act Regulations. Working under these subsidiaries and the Purefarma, Pura Vida, Premium 5, RAD and feelgood. brands, Heritage focuses on extraction and the creation of derivative products for recreational consumers, as well as the formulation of cannabis based medical solutions. In the U.S., Heritage operates under Opticann Inc., a Colorado based oral and topical cannabinoid company with the rights to exclusively sell CBD and CBG products made with the patented VESIsorb® drug delivery system for optimized absorption and stability. As the parent company, Heritage is focused on providing the resources for its subsidiaries to advance their products or services to compete both domestically and internationally.
ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210318005236/en/
Corey Herscu for Heritage Cannabis