Heritage Cannabis Reports Second Quarter 2021 Financial Results

Heritage Cannabis Reports Second Quarter 2021 Financial Results:

We are thrilled with the quarter’s results and the company’s future prospects, said Clint Sharples, CEO of Heritage. As we’ve discussed over the past few quarters, we’ve gone from rigorous contract manufacturing services to a six-brand portfolio company in Canada and a medical e-commerce website in the United States.

Current quarterly results show the progress of this change, which began less than a year ago, and we are building the third quarter of this fiscal year. While we see an accelerated distribution of products across the country, we still don’t have enough markets to expand and we have yet to make a significant start in the $ 1 billion leisure market. From a financial point of view, we have extended our amortization window to the end of 2022, improved our working capital position and with continued strong sales growth coupled with cost containment, we will ensure we remain in a strong position.

While this is the first quarter that Premium 5 has been brought under the Heritage banner, we are very pleased with the performance of the organization, said David Schwede, president of the recreation division. We have high expectations of ourselves and are working hard to become a recognized leader in the marijuana industry and to further expand Heritage’s position on the marijuana map. I am confident that our legacy will set it for continued growth in Canada and the United States. The United States.

Operational highlights

Heritage has significantly expanded its product portfolio to include concentrates, sprays, topicals, snacks, and dried flowers. Provincial restructuring rates and market penetration continue to show positive trends.

Successful launch of RAD, a well-known brand offering concentrates, flowers, spirits, live resins, and edible categories. RAD has become a leading Canadian concentrate brand, completing first shipments to Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, NWT, Cannmart, Patient Choice, and soon to PEI, Quebec, and Shelter Market.

Heritage further expanded its distribution capacity, adding medical cannabis deals in New Brunswick, the Northwest Territories, and Shoppers Drug Mart in the second quarter. Later in the quarter, Heritage Newfoundland, Nova Scotia added Cannmart and announced an agreement to enter Quebec through a distribution agreement with Great White North Growers.

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The consolidated financial statements of the company for the three and six-month periods ended 30 April 2021 and the related discussions and management analyzes have been filed with the security authorities and are available on SEDAR at www. sedar. Get under the editor. Company profile.

About Heritage Cannabis Holdings Corp.

 Heritage is a leading cannabis products company that operates two licensed factories in Canada and provides innovative products to the legal and medicinal cannabis markets in Canada and the United States. The company has a large portfolio of high-quality cannabis products under the brands Purefarma, Pura Vida, RAD, Premium 5, it’s good. and ArthroCBD.

Canadian Exchange is not responsible for the suitability or accuracy of this press release.

forward-looking statements

This press release contains certain forward-looking information within the meaning of applicable Canadian security laws and may also contain statements that may constitute forward-looking statements under the United States Private Security Reform Act of 1995. No statements. facts or information or the current situation, but simply represents the company’s belief in future events, plans, or goals, many of which are inherently uncertain. and outside the control of the company.

In general, such forward-looking information or statements can be identified through the use of forward-looking terminology such as plan, expected or not expected, planned, budget, planned, estimated, does not foresee intends, offers or does not provide, or believes, or variations of such words and phrases or may contain statements that certain actions, events or results may not be, would not, the mayor will be taken, continue, disturb.

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