Heritage Cannabis Subsidiary Voyage Signs CMO Term Sheet with True North Agri Inc.
Toronto, ON - TheNewswire - June 30, 2020 - Heritage Cannabis Holdings Corp. (CSE:CANN) (CNSX:CANN.CN) (OTC:HERTF) ("Heritage" or the "Company"), today announced that its subsidiary Voyage Cannabis Corp. ("Voyage") has signed a term sheet for an agreement with True North Agri Inc. ("True North") for contract manufacturing services including biomass sourcing and the production of full spectrum cannabis oil and vape cartridge products.
True North selected Heritage as a direct result of its subsidiary Purefarma Solutions' ("Purefarma") ability to produce full spectrum cannabis oil products and because of their reputation for using a 'direct to vape' process which uses no harmful additives, flavours or carrier oils. This provides Heritage customers with a unique consistency between the strain profile of the biomass and the oil being produced.
Voyage will produce CBD oil, 1-to-1 oil products, THC oil products, and a full spectrum vape cartridge for True North, with all formulation, preparation and packaging procedures performed in compliance with applicable regulations.
"Along with the launch of our own branded products in July, we are pleased to continue advancing our strategy by expanding our contract manufacturing partner relationships which are expected to contribute to improved revenues in the future," commented Clint Sharples, CEO of Heritage. "As the market continues to evolve, we believe Heritage brings value to our partners through our proprietary cannabis extraction and formulation expertise and industry leading approach to bringing products to market."
"We are pleased to be partnering with Heritage on the launch of our Canadian product line 'Red Barn Brand' for our product manufacturing as their unique formulations and direct-to-vape process will facilitate our high-quality products in coming to market," commented Darren Gill, CEO of True North Agri Inc. "True North Agri is primarily focused on launching hemp derived CBD products through its retail sales network in Canada, US and UK leveraging relationships with processing partners like Heritage to offer premium products at competitive prices."
About Heritage Cannabis Holdings Corp.
Heritage Cannabis Holdings Corp. is a vertically integrated cannabis company that owns two Health Canada approved licenced producers, Voyage Cannabis Corp. and CannaCure Corp., both of which also have industrial hemp licenses. Additionally, Voyage recently received its sales license from Health Canada, and the Company will be launching its own products in the BC, AB, and MB markets in July 2020, with other provinces to follow. Working under its licenses, Heritage has two additional subsidiaries, Purefarma Solutions, that provides extraction services, and a Medical Services Division which is focused on cannabis based medical solutions. Heritage as the parent company, provides the synergies and resources for its subsidiaries to advance their medical and adult use products and services both domestically and internationally.
ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.
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