Vancouver, B.C. / TheNewswire / December 21, 2018 - HERITAGE CANNABIS HOLDINGS CORPORATION (CSE: CANN) ("Heritage" or "Company") congratulates the United States on the recent passing of the farm bill known as the Hemp Farming Act of 2018.
This new legislation is projected to have a direct and positive affect on Heritage's subsidiary Purefarma Solutions ("Purefarma") and its planned roll out of extraction services within the two Heritage Licensed Producer subsidiaries, PhyeinMed and CannaCure.
"Heritage is excited to see the adoption of this new legislation and considers it a major milestone for international acceptance of the benefits of hemp and hemp by-products." comments Clint Sharples, Chairman and Interim CEO of Heritage "We are excited to see such major and progressive changes in the industry as we continue to execute our expansion plan."
As a result of these new guidelines, Heritage expects to be active in the USA with respect to hemp supply and extraction services.
The Company also announces the termination of its property purchase agreement in Clearview township, and the return of the deposit funds. As a result of the recent acquisitions and corporate direction, this property was no longer deemed strategic to the growth strategy.
About Heritage Cannabis Holdings Corp.
The Company is focused on becoming a vertically integrated cannabis provider that currently has two Health Canada approved licensed producers, through its subsidiaries PhyeinMed Inc. and CannaCure Corp. both regulated under the Cannabis Act Regulations, and its subsidiary Purefarma Solutions, which will be providing extraction services within the Company. Heritage is focused on advancing its scale and technology footprint to compete both domestically and internationally.
ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORPORATION
Chairman and interim CEO
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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.