Vancouver, B.C. / TheNewswire / March 11, 2019 - HERITAGE CANNABIS HOLDINGS CORP. (CSE: CANN) ("Heritage" or "Company") is pleased to announce CannaCure Corporation's("CannaCure") first harvest successfully passed all tests including microbiology and pesticides and recorded an average THC content between 17-22%.
As a result of Heritage's subsidiary PhyeinMed Inc. ("PhyeinMed") obtaining its standard processing licence on March 1, 2019, and Heritage's updated strategy of growing cannabis for extraction, CannaCure has exercised an option to retain the product and will process it in the Company. The cannabis will be extracted and formulated for use in medical sales, adding significant value compared to wholesale dried flower revenues.
CannaCure's inaugural grow was cultivated in a limited and contained portion of the total production space to demonstrate successful indoor cultivation practices and create proficiencies for replication during expansion. These practices will allow CannaCure to successfully expand indoor cultivation operations efficiently and effectively to obtain larger yields and limited crops loss.
"We are extremely pleased with the result of our first crop. I am very proud of the cultivation team. Their experience, care and passion for their work really came through and resulted in a successful first crop" states Clint Sharples, CEO of Heritage. "The optionality provided by our recently awarded processing licence at Falkland gives the Company the ability to maximize profits from all sources".
About Heritage Cannabis Holdings Corp.
The Company is focused on becoming a vertically integrated cannabis provider that currently has two Health Canada approved licenced producers, through its subsidiaries PhyeinMed Inc. 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 which is focused on cannabis based medical solutions. Heritage as the parent company, 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.
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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.