Vancouver, B.C. - TheNewswire - September 10th, 2019 - HERITAGE CANNABIS HOLDINGS CORP. (CNSX:CANN.CN) ("Heritage" or "Company") is pleased to announce that it has entered into two Agreements with Weed Me Inc. ("Weed Me") to purchase a bulk order of cannabis biomass, and an 'right of first offer' ("ROFO") to secure future cannabis supply.
Heritage received its first bulk shipment from Weed Me during the last week of August. The open-ended ROFO agreement provides Heritage with secured dried cannabis from Weed Me as each harvest is completed. This agreement contributes to Heritage's strategy of procuring high quality biomass from industry leading suppliers which will assist the Company to meet the scheduled contracted production volume.
"We are please to have Weed Me as a contracted supplier of cannabis biomass. Their ability to grow quality THC and CBD content cannabis which meets our high specifications contributes to our increased production schedule to meet our customer's product expansion plans." says Clint Sharples, CEO of Heritage "Our procurement team continues to seek similar agreements for the supply of superior biomass from reputable growers."
As of the end of August, Heritage has procured over 1,200 kg of cannabis biomass and will be receiving additional shipments of cannabis from top-tier suppliers such as Weed Me as production continues.
About Heritage Cannabis Holdings Corp.
The Company is a vertically integrated cannabis provider that 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 BriteLife Sciences that is focused on cannabis based medical solutions. Heritage as the parent Company, is focused on providing resources for its subsidiaries to advance their products or services to compete both domestically and internationally.
About Weed Me Inc.
Weed Me is a private company focused on being a responsible and trustworthy producer of cannabis products utilizing proven and tested cultivation methods. With a facility that is at the forefront of innovation located thirty minutes outside Toronto, and a world-class team we are aiming to consistently create the highest quality cannabis products in Canada.
ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.
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This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, the results of exploration activities -- that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.